Small Business Saturday Brings Economic Growth
Since Small Business Saturday started,
U.S. customers have reported spending
an estimated total of $85 billion at
independent retailers and restaurants —
that's $85 billion over 8 days alone. (AmericanExpress.com)
The Small Business Saturday movement across America shines light on the heart of our growing cities - the small business owner. In 2017 it was reported that for every $100 spent at a small business, $68 of that revenue supported local economic activity; as opposed to only $48 when spent at large retailers. The growing number of small business owners present the promise of opportunity for our cities; but only if the public puts effort into supporting them.
Local businesses are what make cities unique. They are also the source of economic empowerment for many families. Being able to have control over your finances, and the freedom to create a legacy of business activity for your family is a huge part of the ‘American Dream’. International business experts like Gary Vaynerchuk have been very vocal over the years about how building a thriving small business changed the trajectory of their lives. Vaynerchuk worked in his parents local store for years, and turned that experience into a phenomenal media giant. The success of the family’s small business was the foundation of his success as an international business expert.
Want to support local businesses? Here are a couple of ways to get involved
Small changes in consumer purchasing behavior could have long lasting positive effects on their respective cities. Not only does it allow families to build financial success, but it also provides jobs for others, and reduces environmental waste by reducing the costs of transport and shipping. Even better, patronizing a small business gives you a chance to find unique goods that you won’t always find at big-box retailers.
For a list of small businesses in your area, visit the American Express Small Business Saturday page.
Does your family have a favorite local retailer? What are some of the benefits you’ve seen from shopping at small businesses?