10 Things To Know About Small Business Saturday

Posted by Karen Erdelac on Nov 25, 2022

10 Things To Know About Small Business SaturdayThis year marks the 12th annual Small Business Saturday event, where local businesses focus on growing their part of consumer holiday spending. Well-prepared small business owners stand to profit greatly during the Small Business Saturday event, and there are plenty of tips online for maximizing profits. Here are some of the history and fun facts about Small Business Saturday.

1.    The inaugural Small Business Saturday event was created by American Express and took place on the first Saturday after Thanksgiving in 2010. Direct Energy

2.    First and foremost, small Business Saturday is intended to encourage consumers to shop at small and locally-owned businesses. That includes retail stores and restaurants as well as other small businesses, such as salons, grocery stores, and service-based businesses. It also extends to small businesses that exist online. Investopedia

3.    In 2021, Small Business Saturday reached an all-time high. Fifty-one million shoppers participated in Small Business Saturday, according to the  National Retail Federation (NFIB)generating $23.3 billion in U.S. consumer spending.

4.    In 2022, it’s estimated nearly 6 in 10 or 59 % of shoppers will take part in Small Business Saturday, that’s 56% more than Black Friday. Eighty-three percent of consumers say Small Business Saturday inspires them to Shop Small all year long. Bankrate  

5.    45% of consumers plan to spend more on Small Business Saturday this year than they spent last year. Bankrate  

6.    Among those who shopped on the day, 81% reported encouraging friends or family to shop or dine at small, independently-owned retailers and restaurants. 

7.    There are 33.2 million small businesses vs. 21,139 large businesses in the United States, which means that small businesses make up a whopping 99.9% of all firms in the U.S. Hourly

8.    Since 1995, small businesses have generated nearly 70% of all new jobs in the U.S.

9.    When your customers support a local business, they are also supporting your town, city, and neighborhood. What’s more, according to the American Independent Business Alliance, on average, 48% of each purchase at a local small business stayed in the community, compared to less than 14% of purchases at big box stores.

10. As a small business owner, promote Small Business Saturday in your store (download marketing materials here), send promotions via email and text, promote on social media and take advantage of the traffic by signing up new people to your loyalty program. You’ll reap the benefits of Small Business Saturday all year long. 

Since 2005, Quikstone Capital has helped thousands of small and independent merchants grow their businesses with easy, fast, and flexible working capital. Use the cash for any business need, including purchasing new equipment, increasing inventory, hiring additional staff, and remodeling or expanding your company. Just fill out this simple form, and let’s get started with a no-cost or obligation consultation. At Quikstone, we won’t succeed unless you succeed.

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