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I Love Small Businesses

The History and Love of Small Business Saturday

November 17, 2016

Within each small business is an individual with a dream. Each year amongst the craziness that is the holiday season comes a day that was created to support the ‘mom and pop’ stores across our nation - Small Business Saturday.

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History of Small Business Saturday

Small Business Saturday was an idea created by the credit card giant American Express on November 27, 2010. The campaign launched in order to help small businesses gain additional exposure and to change the way consumers shop within their own community during the holiday season. In 2011, the day became official when Washington State mayors, governors, senators, and President Obama shared their support for Small Business Saturday. 

As the day began to pick up more traction, in 2012 American Express encouraged all small business owners to take charge and promote their business. The credit card company offered small business owners free, personalized ads to spread across the web. That year, an estimated $5.5 billion was spent across the nation at independent businesses. By 2013, neighborhoods began celebrating the day, pledging support to the local businesses and organizations. 

Participation in Small Business Saturday continues to grow year after year. As 2015 came around the corner, more than 95 million people shopped at small businesses on Small Business Saturday, an eight percent increase from 2014. In 2015, spending reached $16.2 billion. This year, the numbers are expected to increase again as more consumers continue to care just as much about the shopping experience as the gifts that they are purchasing. 

Why Shopping Local Matters 

For small business owners, their business is not just a business. To them, it is an extension of who they are. Giving the local businesses within your community a chance is crucial to not only their survival, but to give them an opportunity to win you over as a customer. 

This year, step out of your comfort zone and stop by your local bakery, restaurant, coffee shop, or boutique and support your neighborhood store rather than shopping a national chain. Shopping local matters because it affects the entire community. More money spent at local stores means more money stays within the community. This not only helps schools and other organizations through taxes, but small businesses are usually the organizations that support local sports teams, charities and events. The community wins as a whole, but the individuals that took a chance and made their dream a reality win as well. 

Small Business Saturday Facts

54% of U.S. sales occur at a small business

• On average, consumers are planning to do 35 percent of their holiday shopping at small businesses.

• Small businesses currently make up more than 34 percent of businesses in the United States.

• There are 28 million small businesses in the U.S. and counting.

• When spending $100 at your local business, approximately $68 stays within your local economy.  

• In a 2012 national poll, individuals said that having locally owned businesses is the #1 factor to establishing a strong community. 

• Local retailers are more likely to hire locally than retail chains. 

• Small businesses donate approximately 250% more to non-profits/community causes than large businesses. 

• Franchised small businesses employ approximately 8 million people and make up about 40% of all retail jobs within the U.S.

• A survey by the National Federation of Independent Business found that 83 percent of U.S. consumers say Small Business Saturday inspires them to shop small throughout the entire year. 

Small Business Saturday 2016

Don’t miss out on the opportunity to celebrate and support the small businesses in your community on November 26, 2016. Learn more about Small Business Saturday 2016 and the participating small businesses in your area today! Not only will you feel good about shopping local, but you will be making a meaningful difference for those entrepreneurs within your community. 

For more information on Small Business Saturday and to keep up with the growing movement, follow Small Business Saturday on Facebook and Twitter

Are You a Proud Small Business Owner?

There are many challenges as a small business owner, but small business insurance should not be one of them! At Farm Bureau Financial Services we understand how hard you have worked to build your small business, which is why we want to help you protect it from the uncertainties that life brings. Learn how our small business insurance and commercial insurance can help ensure the success and safety of your company.