Saturday, November 27is Small Business Saturday. After a difficult year for businesses of all sizes, and with the busiest shopping season upon us, it’s more important than ever to support small and local businesses in our communities.
The United States is home to 28.8 million small and independent businesses and they account for 99.7% of all businesses nationally. They play an important role in boosting the economy and creating jobs. The pandemic and government measures to keep people safe have affected small businesses in particular, so every shopping dollar matters right now. During the first part of the pandemic, small business revenues were down 40%, and 40% of small businesses closed. Many may not reopen.
When these businesses start to disappear, there are, of course, financial losses to consider. But over the past 20 months or so, we’ve also discovered an increased sense of community. During this time, a couple of interesting things have happened. There has also been increased support for small, local businesses that were hit hard during lockdowns. Small and independent businesses are at the heart of our communities and are key to keeping them vibrant. Research shows a marked increase in online shopping, local delivery, and curbside pickup. And 53% of customers say that the pandemic has changed how they’re shopping from now on. Shopping on your local Main Street (in person or online) means supporting your neighbors and the lifeblood of your community.
Why Shop Small
Small businesses have a positive impact on local economies and the social fabric of communities. When you shop small, your dollars stay in the neighborhood and help local development. Small businesses create jobs and they’re often started by fearless founders who take risks that lead to innovation, and we need them. Small and local businesses focus on a personalized, intimate customer experience and, to them, every customer matters and every dollar counts, especially right now. Also, small businesses shine because they regularly offer diverse and unique products.
Finally, shopping small affords the opportunity to support diverse-owned businesses, including minority-owned business enterprises (MBE) — that’s a business that’s owned, run, and managed by a person of color. Think Quick Events is a small business and certified MBE.
During this busy holiday shopping season, consider an alternative to big box and online giants and visit a local, small business — you might discover a new favorite place to buy gifts. American Express has created a Shop Small interactive map to help you find small businesses in your community. If you’re looking to provide your team with an engaging and fun team building experience and support a minority-owned business enterprise, get in touch with us today.