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Small Business Saturday: The Day We Support Local Shops
In the hustle and bustle of holiday shopping, Black Friday and Cyber Monday might be the first things that come to mind for most people. However, tucked right in between is Small Business Saturday, a special day focused on uplifting and supporting local businesses and the vibrant communities they belong to.
Back in 2010, American Express joined forces with Boston’s Roslindale Village Main Street and other partners to kick off an initiative promoting small business shopping. The idea was straightforward: rather than heading straight to the big retailers, why not invest your dollars in those charming little shops that make neighborhoods special? Since then, Small Business Saturday has evolved into a nationwide phenomenon. Just in 2023, shoppers spent around $17 billion at small businesses, contributing to a grand total of over $200 billion spent since the event’s inception.
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Why does this day matter? Well, think about it this way: small businesses account for 99.9% of all businesses in the U.S. and employ nearly half of the country’s workforce. These businesses not only create jobs but also offer personalized services that bring a unique character to their communities. Whether it’s your neighborhood coffee shop or the nearby hardware store, they are the heartbeat of our towns and cities.
But it hasn’t always been easy. COVID-19 took a heavy toll on small businesses, and natural disasters like hurricanes often make bouncing back even harder. Still, entrepreneurs have shown incredible resilience. In the past few years, over 20 million new small business applications have been filed—an all-time record!
Latino-Owned Businesses: A Vital Part of the Equation
Latino entrepreneurs are essential players in the small business ecosystem. They’re launching businesses at more than twice the rate of the general population, fueling innovation and growth. As of 2023, there are over five million Latino-owned businesses in the U.S., contributing more than $800 billion each year to the economy.
These businesses are crucial because they often bridge cultural gaps, providing diverse communities with goods and services that meet their specific needs. Projections indicate that by 2050, Latinos will make up nearly 30% of the U.S. population. If their businesses keep growing at the current pace, they could contribute an astounding $1.4 trillion to the economy—a major boost for everyone.
Introducing Pink Friday
Small Business Saturday has been around for over a decade, but there’s a new player in town called Pink Friday that’s starting to catch on. Launched in 2020 by The Boutique Hub, this event aims to get shoppers to “support small first,” happening on the Friday before Black Friday.
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Pink Friday came about to give small retailers a fighting chance against big chains, especially during the tough early days of the pandemic. It’s a day that lets small businesses grab the spotlight before the retail giants take center stage in the shopping rush. This event has turned into a team effort where local stores come together, roll out special deals, and organize events to attract shoppers.
Tips for Shopping Small
Supporting small businesses doesn’t have to be complicated. On Small Business Saturday, why not stop by your local bakery for some fresh bread, pick up gifts from a neighborhood boutique, or grab that book you’ve had your eye on at an independent bookstore? It’s not just about spending money—it’s about investing in your community.
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And if you can’t make it out in person? Many small businesses now offer online shopping. You can also spread the word by using hashtags like #ShopSmall and #SmallBizSat to encourage others to join in.
When you decide to shop small, you’re doing much more than just making a purchase—you’re helping to create jobs, boost your local economy, and keep those one-of-a-kind businesses thriving. Whether it’s Small Business Saturday, Pink Friday, or just any regular day, choosing to support small businesses makes a significant impact.
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