Were you among the crowds of people “Shopping Small” the Saturday after Thanksgiving? Small Business Saturday kicks off the holiday shopping season for what is often the most lucrative time of year for small businesses.
Our SBA Delaware District Office team visited stores along Newark’s Main Street and in downtown Lewes to purchase their own holiday provisions, and to remind shoppers that small businesses are the backbone of our communities. Locally-owned small businesses create two out of three net new jobs, and in Delaware, small businesses employ approximately 180,179 people, or 45.3 percent of the private workforce.
When you shop local, you’re putting your money right back into your own towns and neighborhoods. Compared to chain stores, locally-owned businesses put a much larger share of their revenue back into the local economy, enriching the whole community, which means more money for local police and fire departments, as well as schools and other community-supported infrastructure and services.
You might also be surprised to know that small businesses donate 250 percent more to local nonprofits and community causes than larger businesses. And, for every $100 you spend at a locally-owned business, roughly $68 stays in your local economy, compared to only $43 from the big guys.
Total reported spending among U.S. consumers who said they shopped at independent retailers and restaurants on that day reached a record high of an estimated $17.8 billion, according to data released from the 2018 Small Business Saturday Consumer Insights Survey from American Express and the National Federation of Independent Business (NFIB). Based on this annual survey over the years, Small Business Saturday spending has now reached a reported estimate of $103 billion since 2010.
Help keep the Small Business Saturday momentum going by shopping small this holiday season or any day. And while you’re out, tell us where you’re shopping by using #ShopSmall on your favorite social media platform.
By Michelle Christian,
Mid-Atlantic Regional Administrator
U.S. Small Business Association