Whether you’re shopping for a hostess gift or a holiday present, it’s important to remember the value of your dollar as you spend. It can be tempting to do all of your shopping online or at a big box store, however small businesses do so much to stimulate the economy, so your support is important. Each year, the Saturday following Thanksgiving is designated Small Business Saturday, and shoppers are encouraged both to shop and dine at local businesses. Last year on Small Business Saturday alone, an estimated $17.9 billion dollars were spent in small businesses. That spending has a huge economic impact.
61.7 Million Jobs
According to the 2022 Small Business Saturday Consumer Insights Survey, for every $1 spent at a small business, $0.48 stay within the local community. Small businesses employee 61.7 million workers across the US. Your purchase at a small business goes more directly to overhead such as employee payroll, local vendor payments, and other expenses which go to directly stimulate your local economy. When shopping for holiday gifts at a local small business, your dollars do double work of both purchasing a cherished keepsake and making an impact on the local economy.
Your Support Matters
Small business owners rely on loyal customers for continued success. Small businesses make up 43.5% of the gross domestic product, and in the years following the onset of COVID-19 many small businesses struggled to survive. Now as small businesses rebound and look hire new employees, your support matters. If you love a local bookstore, check out their selection ahead of the holidays. If there’s a cute specialty shop you’ve been meaning to visit, make it a point to stop in. Your support of small businesses truly does make a difference.
While Small Business Saturday is a huge day for small business spending, 72% shoppers said that they were inspired to shop and dine local all year long. So be sure to shop early and often. Follow your favorite businesses on socials and sign up for newsletters and loyalty programs. These are great ways to engage with the businesses even when you’re not spending money, and you can learn about sales or other events which might interest you.