Shop small on November 26 — this Saturday.
It's Small Business Saturday, a day dedicated to supporting small businesses in our local communities.
From Main Street shops to high-tech startups, small businesses are the backbone of United States' economy. They create two out of three new private sector jobs, according to the U.S. Small Business Administration.
As businesses gear up for the holiday season, they are optimistic about sales and are predicting growth for the first quarter of 2017 and next year, according to the American Express Holiday Growth Pulse.
Released this month, the survey of 1,502 small and middle market businesses is showing solid optimism. In the retail industry, nearly six in 10 (59 percent) small business retailers project that holiday sales will be stronger compared to 2015, and 34 percent are estimating it'll be about the same as last year.
“Retailers are optimistic about the upcoming holiday season and the impact it will have,” said Susan Sobbott, president of global commercial payments at American Express. “As small and middle market retailers gear up for this critical season, many are offering promotions to draw customers in, and hire additional staff to ensure quality customer service during the busy season.”
More than two-thirds of small business retailers (67%) say their company will be offering holiday discounts this year.
By supporting small businesses in your backyard, the money spent goes right back into the local economy.
Results from the fifth annual Small Business Saturday Consumer Insights Survey, released Wednesday by the National Federation of Independent Businesses (NFIB) and American Express, show more people (58 percent, versus 55 percent last year) are aware of Small Business Saturday.
Among U.S. consumers, the Small Business Saturday Consumer Insights Survey found:
- On average, a third (33 percent) of holiday shopping is to be done at small retailers or restaurants – on par with 2015.
- 76 percent plan to visit at least one small business for holiday shopping.
- 91 percent believe that supporting small, independently-owned bars and restaurants is important.
"Small businesses across the nation are often run by the friends, family and neighbors that we know so well, so supporting them is not only personal but critical to their success,” said Juanita Duggan, NFIB CEO and president.
SUPPORT SMALL BUSINESSES
Small Business Saturday was founded by American Express in 2010.
Show your support and love for small and independent businesses in person. You can also show your support via social media using the #ShopSmall, #SmallBizSat, and #DineSmall hashtags on Twitter, Facebook, and Instagram.