COLUMBUS – Small Business Saturday continues to grow and be recognized.
Last year, shoppers spent a record $17.8 billion at independent stores and restaurants on the Saturday after Thanksgiving, according to research by American Express and the National Federation of Independent Business, the nation’s leading small business advocacy organization. This year, Small Business Saturday takes place on Nov. 30.
“Small Business Saturday is a really important day for small-business owners. Research shows 92 percent of independent shops who participate in the event say it really helps their business stand out during the busy holiday shopping season,” Roger Geiger, NFIB’s executive director for Ohio, said. “It’s an opportunity to introduce themselves to new customers who they hope will become regulars once they experience a heightened level of service and knowledge.”
Small Business Saturday began in 2010. Now in its 10th year, Small Business Saturday is recognized as a national event and an opportunity for people to support the small, independent businesses that make their communities strong. For every $100 spent by consumers at locally owned businesses, $68 stays in the local economy, compared to only $43 if spent at a national chain, according to the NFIB.
In 2018, two-thirds of small businesses surveyed by American Express and NFIB planned to participate in Small Business Saturday.
“Small businesses expect an average of 29 percent of their annual sales to come during the holiday shopping season,” Geiger said. “Furthermore, 56 percent of small business owners surveyed last year by American Express and NFIB said Small Business Saturday led to a boost to their holiday sales.”
There are nearly 1 million small businesses in the state who employ more than 2.2 million Ohioans, according to the Small Business Administration.