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The year-end holidays are looming on the horizon. That means we must be on the cusp of “shopping season,” that time of year when just about everyone spends too much money on gifts and good cheer in hopes of better celebrating whichever holidays mean the most to us. Sometimes, the financial expenditure helps; often, it does not.
Nevertheless, expect pre-Black Friday overnight queues of anxious shoppers outside big-box retailers hoping to nab the latest and greatest gifts at unseasonably low prices. An equal number, if not more, will save their energy for Cyber Monday, when home computers will be abuzz with online orders for many of the same consumer goods with the added benefit of having purchases delivered directly to buyers’ homes and offices.
However, don’t overlook Small Business Saturday. Coming after Black Friday, on November 30, it’s a day dedicated to local small businesses, the goods and services they offer, and the chance to financially help our friends and neighbors by contributing directly to the local economy. Such assistance also goes a long way in strengthening our communities at a time when we need it most.
What most people don’t know is that Small Business Saturday is a registered trademark of American Express. The first “official” Small Business Saturday took place in 2010, and its prevalence has only grown from there.
A small business, as defined by the U.S. Small Business Administration (SBA), employs fewer than 500 people. Together they generate about 44% of the nation’s economic activity. The U.S. has 31.7 million small businesses. In the Milwaukee metro area, there are nearly 38,000 small businesses and, no matter what their size, they offer strong economic benefits to the communities and customers they serve:
- Small businesses excel in job creation, most often for community members. According to SBA, small businesses created 12.9 million jobs over the past 25 years which accounts for 66% of all job created during that period. By comparison, large corporations added just 6.7 million jobs during the same period.
- Small businesses are developed by those with an entrepreneurial mindset and are responsible for many of the leading innovations due to their ability to respond more quickly to changing market trends than their larger counterparts.
- Small businesses also have a greater financial impact on the communities they serve in everything from driving the need for the creation of other local business and providing more economic input in terms of everything from increased tax revenue to more charitable contributions, which can have a direct positive impact on more community members.
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As you jot down you holiday shopping ideas this season, make it a point to add small local businesses to your specific destinations. The people who run them tend to be more cordial and helpful, the goods and services are often more imaginative and better tailored to local needs, and more of the money you spend will stay in the local community, which helps everyone.
And you don’t have to worry about wearing a cup.
