As the holiday shopping season kicks off, major retail events like Black Friday and Cyber Monday often dominate the headlines. Yet, another powerful movement has gained significant traction over the last decade: Small Business Saturday. Positioned between these two retail giants, this day encourages consumers to shop at independently-owned businesses. This initiative is much more than a feel-good social media campaign.

The Multi-Billion Dollar Impact

The numbers associated with Small Business Saturday are impressive. Since its inception, consumers have reported spending an estimated total of $184 billion on this day. In 2023 alone, projected spending reached an impressive $17.9 billion, a testament to the event's sustained relevance and consumer enthusiasm.

This spending has a powerful ripple effect. When money is spent at a local business, a significantly larger portion of it stays within the community compared to money spent at a large chain. According to one study, for every dollar spent at a small business, approximately 67 cents remains in the local economy. In contrast, only about 43 cents of every dollar spent at a larger, non-local business stays in the community.

Driving Job Creation And Stability

Small businesses are a primary engine of job creation in the United States. They account for 64% of new private-sector jobs created over the past 25 years. By providing a significant revenue boost, Small Business Saturday helps these businesses maintain operations, retain staff, and even expand their teams during the critical holiday season.

The influx of customers on this day can be the difference between a profitable fourth quarter and a difficult one. For many small retailers, the holiday season can account for as much as 30% of their annual sales. A successful Small Business Saturday provides momentum and financial stability, allowing owners to plan for the year ahead with greater confidence. This stability is vital for sustaining employment and fostering a dynamic local job market.

Fostering Community And Diversity

Beyond the direct financial benefits, Small Business Saturday strengthens the social fabric of our communities. Local shops are often more than just places to buy goods; they are community hubs where neighbors connect and relationships are built.

Supporting these businesses also promotes economic diversity. A marketplace dominated by a few large corporations can lead to limited consumer choice and stifle innovation. Small businesses, on the other hand, introduce a wide array of specialized products and services, catering to diverse tastes and needs. This variety not only enriches the consumer experience but also creates a more competitive and innovative market. Small Business Saturday highlights the importance of this diversity and encourages consumers to invest in the unique businesses that make their communities special.

How To Get Involved

Participating in Small Business Saturday is simple, but its effects are far-reaching. Here are a few ways you can make a difference:

• Shop Local: The most direct way to contribute is to make a purchase from one or more local businesses on the day itself.

• Dine Small: Many local restaurants, cafes, and bars are also small businesses. Consider grabbing a meal or a coffee from a local spot.

• Share on Social Media: Use hashtags like #SmallBusinessSaturday and #ShopSmall to share your favorite local finds. This free promotion helps businesses reach a wider audience.

• Leave a Positive Review: A glowing online review can be incredibly valuable for a small business, helping to attract new customers long after the event is over.

• Think Small Year-Round: While Small Business Saturday is a fantastic initiative, the goal is to build lasting habits. Try to incorporate shopping small into your routine throughout the year.

More Than Just A Shopping Day

Small Business Saturday has grown from a clever marketing campaign into a vital economic event. It provides a crucial boost to the small businesses that form the foundation of our economy, driving billions in revenue and supporting millions of jobs. The day also serves as a powerful reminder of the value these businesses bring to our communities, fostering local identity, diversity, and connection.

Quikstone Capital Solutions has officially reached its 20th anniversary, a moment that reflects two decades of dedication to supporting small businesses across the country. If you need cash for your business, contact us today. We have only one goal: to help your business succeed.