Whether you are buying or selling, support your small local businesses this coming Saturday, November 29th.
Small Business Saturday is a phenomenon that has grown exponentially since its inception in 2010. An important engine for our economy, small businesses employ millions of workers, and keep money in our communities. According to the 3/50 Project, for every $100 a consumer spends at a locally owned store, $68 is returned to the community in taxes, payroll and other spending.
American Express has taken responsibility for organizing and promoting this day to support small independent and local businesses, and what they do for the local and national economy. Events are being organized around the US to promote and celebrate small business. Find your own local events through EventBrite here.
American Express shares the following statistics that support the shop small/shop local movement:
- 71 percent of American surveyed said they were aware of Small Business Saturday.
- Those consumers who were aware of Small Business Saturday spent a total of $5.7 billion with independent merchants on the day.
Small business owners throughout the country will be exhibiting banners and signage encouraging participation, running special sales and events, and even partnering with other businesses in their communities to spread the word more effectively.
Artists and creative entrepreneurs are encouraged to become a part of this movement as sellers, and also as consumers. Spending money with local businesses keeps money in your neighborhood, as opposed to shopping online or shopping at large retailers.