Small Business Saturday is much more than a day for shoppers to buy a product from a “mom and pop” shop.
Small Business Saturday also allows small businesses to expand their sales, grow their brand, connect with other local companies, boost their local economy, and celebrate themselves.
Let’s learn more about how Small Business Saturday originated, why it is crucial to your local economy, and how small business owners can take advantage of the occasion this year.
What is Small Business Saturday?
Small Business Saturday is a day that focuses consumer attention away from large chains and toward supporting and celebrating small businesses and their local economy. The event also allows small businesses to capitalize on the day through marketing, promotions, and more.
Small Business Saturday is a relatively new celebration, as American Express first established it in 2010 to provide a boost to locally-owned businesses during the busy holiday shopping season that kicks off with Black Friday.[1]
A year later, in 2011, the U.S. Senate unanimously passed a resolution supporting the day, helping the annual event become a nationwide phenomenon that has generated more than $120 billion in consumer spending at small businesses over the past ten years.
Why Small Business Saturday is Important to Your Local Economy
In an era when national and global corporations are so prevalent, Small Business Saturday provides a valuable reminder that small businesses are still considered the backbone and heart of the American economy.
In addition to the jobs they provide, small businesses directly benefit local economies because all the money stays local and supports services such as schools, emergency services, parks, and more. Additionally, they can increase real estate value, help bring a community together, and bring energy and activity to that community.
Small Business Saturday also provides locally-owned companies a chance to enjoy crucial profits before the end of the year arrives. In 2019, nearly 110 million shoppers across the country “shopped small” and spent $19.6 billion at small businesses during the event. [1]
When is Small Business Saturday?
Small Business Saturday enjoys a slot in the kickoff of the holiday shopping season, falling between Black Friday and Cyber Monday.
This year, Small Business Saturday falls on November 26, 2022.
How to Take Advantage of Small Business Saturday Opportunities
Small Business Saturday is a golden opportunity for independently-owned businesses to achieve a very profitable day while simultaneously growing their brands and connecting with their communities. However, such success can only be achieved if the business operators appropriately prepare for the event.
Our experienced team here at Visa Business Plans is ready to help you achieve your business goals on Small Business Saturday and beyond. Call us today to discover more about how entrepreneurs and owners can benefit from our business coaching services.
[1] https://www.businessnewsdaily.com/7354-small-business-saturday-tips.html
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The information provided in this blog is intended solely for informational purposes. While we strive to offer accurate and up-to-date content, it should not be considered legal advice. Immigration laws and regulations are subject to change, and individual circumstances can vary widely. For personalized guidance and legal advice regarding your specific immigration situation, we strongly recommend consulting with a qualified immigration attorney who can provide you with tailored assistance and ensure compliance with current laws and regulations.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in four different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
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