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Small Business Saturday

There is no denying the significance of Black Friday for merchants and consumers. It is a key date on the calendar for millions in preparing for the Christmas season.

But another date is important as well.

Held on the Saturday after Thanksgiving and now in its 10th year, Small Business Saturday rallies communities to support local small businesses. From coast to coast, many will kick off the holiday shopping season by supporting local, independent businesses.

Small Business Saturday — as a retail and community event — is anything but small.

According to the Small Business Saturday 2018 Consumer Insights Survey, produced by American Express and the National Federation of Independent Business, on the customer side, 70% of consumers said they were aware of Small Business Saturday -- and it showed. According to follow-up data, Small Business Saturday inspired 104 million shoppers and diners to spend a record $17.8 billion at local, independently owned businesses in 2018.

Since its inception in 2010, spending on Small Business Saturday has reached an estimated $103 billion.

This is incredibly important for our economy because small businesses make up over 99% of the businesses in this country. Plus, having large numbers of consumers venture out to “shop small” at their neighborhood stores and restaurants benefits more than the individual merchants: An average of 67 cents of every dollar spent at small businesses stays in the local community. So, if you buy a new handbag at a small business owner’s shop, the owner and the employees of that store will most likely use the money made from that handbag to buy goods and services from other local businesses.

The day is embraced by independent merchants of all kinds -- from traditional brick-and-mortar retailers to service providers to e-commerce businesses. And as consumer shopping habits continue to evolve, they are prioritizing small businesses – even those online.

Consider doing your holiday shopping this year by making a point of supporting small, local businesses on Small Business Saturday and beyond. You’ll be in good company. More and more shoppers are doing the same.

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