Kitchen Table Economics

Shop Local During Small Business Saturday

This Saturday is, you guessed it, Small Business Saturday—a shopping holiday that encourages Americans to celebrate hard-working, small business entrepreneurs that power our economy. And it’s also a chance to give back to local communities.

In the U.S., there are 30.2 million small businesses that employ about 59 million individuals. So, there’s no doubt that your neighborhood has mom-and-pop shops of its own who make up the engine of the national economy.

According to new polling by the Job Creators Network, 42 percent of respondents plan to shop local this Saturday, while 81 percent say they plan to spend at least some of their holiday budget on items from a small business.

Since Small Business Saturday began in 2010, consumers have spent an estimated $103 billion on the holiday. That’s a lot of dough dished-out during nine days alone.

But Small Business Saturday supports more than the small business. According to the survey, 94 percent of participants said they believe Small Business Saturday impacts their community in a positive way. And they’re right.

Last year, on average 67 cents of each dollar spent stayed in the community. Additionally, a survey conducted by American Express found that when consumers are aware of their impact on the local community, they are 75 percent more likely to shop small.

So this year, do your holiday shopping on Small Business Saturday and you’ll support more than just your local businesses.