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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. By 2015, 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. In 2016, Small Business Saturday reached record highs with 72 percent of U.S. consumers aware of the day and an estimated 112 million shoppers. 2017 marked the eighth year for Small Business Saturday and saw an estimated spend of $12.9 billion. This year, the numbers are expected to rise as more consumers continue to care just as much about the shopping experience as the gifts they’re purchasing.

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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. 

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  • An estimated 108 million consumers reported shopping or dining at local independently-owned business on Small Business Saturday in 2017.
  • Roughly $12 billion was spent on Small Business Saturday in 2017.
  • 90 percent of consumers surveyed said Small Business Saturday has had a positive impact on their community.
  • When spending $100 at your local business, approximately $68 stays within your local economy.
  • Local retailers are more likely to hire locally than retail chains.

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Don’t miss out on the opportunity to celebrate and support the small businesses in your community on November 24, 2018. Learn more about Small Business Saturday 2018 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.

 

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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.