Small Business Saturday

Small Business Saturday

Now that Black Friday has come and gone and Cyber Monday is on the horizon, We have small business Saturday.  Small Business Saturday was created in 201 by American Express after intensive research to confirm the importance of small businesses on the American Economy.  What they found supported the need to push for more consumer spending with Small Businesses.

General Small Business Stats

To put Small Business Saturday in context, it’s helpful to understand their statistical impact on the American economy. Here are some helpful stats from the U.S. Small Business Administration (SBA). Keep in mind that the SBA defines a small business pretty broadly – for many industries, that means up to 500 employees or $7.5 million in average annual receipts. This means that the SBA’s small businesses are probably a lot bigger than those in your community.

Stats from the SBA

  • There are 28.8 million small businesses in the country.
  • Small businesses account for 99.7% of all businesses in the US.
  • Small businesses accounted for 64% of new jobs created in the U.S. between 1993 and 2011.

In a research done in Grand Rapids, Michigan, for every $100 you spend at a large business, only $43 stays in the local economy.  If you spend $100 at a local business, about $68 stays in your local economy.  So you  see a significant difference in financial impact on your local economy.

A detailed visual of where that money goes is below:

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Source: Grasshopper

Why Small Business Saturday Matters

Small businesses account for more than 99% of all businesses in the U.S., and employ 47.5% of the country’s workers. On average, only 50% of these businesses survive to pass the five-year mark. 

With the convenience of big-box stores like Wal-Mart, Target and Best Buy and online marketplaces like Amazon, independent businesses can sometimes find gaining traction during the holiday season to be an uphill battle. 

But since the inception of Small Business Saturday, there has been a focused effort to ensure the successes of small businesses by supporting them through lines of credit programs, offering businesses cash back rewards and even offering free marketing templates for small businesses on the American Express site which reaches millions of people every day.  The data shows, when you shop with Small Businesses, the economy gets stronger, not only nationally, but within your community as well.

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Source: American Express

So if you want to support a movement, Small Business Saturday is the time to really help by heading over to our The Blerd Shop  and use code BLACKNERDFRIDAY for 20% OFF + FREE SHIPPING.

In turn, we will continue to push out great content, for the culture!

Use code BLACKNERDFRIDAY for 20% OFF + FREE SHIPPING

President of Sales & Marketing // Blerds out about: Space, Video Games, Sports & Sneakers

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