Black Friday sales have likely been hitting your inbox before you got your kids’ Halloween costumes put away. But big box stores aren’t the only place to find a good bargain.
Small Business Saturday, the day after Black Friday, offers shoppers an opportunity to find great quality items at a competitive price and keep their community strong.
This year, Small Business Saturday falls on November 29. What began 15 years ago to promote locally owned businesses recovering from the Great Recession has become one of the busiest shopping days of the year, with shoppers spending roughly $22 billion last year.
The holiday season is a time to celebrate and express gratitude. Here in Arkansas, small business owners are particularly grateful for how elected officials in Washington, D.C., and in Little Rock have stood up for Main Street.
During the regular session, the General Assembly made it easier to do business in the state by passing reforms to bolster our state’s workforce and promote greater transparency and fairness in Arkansas’ judicial system. Then, in July, Congress and President Trump made the 20% Small Business Tax Deduction permanent, averting a major tax hike at the end of the year.
These federal and state victories will help our job creators navigate an uncertain economic environment. Between rising prices, a tight labor market, and a decline in sales, small businesses across the country are heading into the holiday season with a little less cheer.
According to a recent NFIB survey, optimism among small business owners declined in October, as job creators reported reduced sales and profits. And while many mom-and-pop shops want to hire, filling open positions is becoming nearly impossible.
On Small Business Saturday and every day of the year, shopping small plays a big role in supporting our communities. In Arkansas, small businesses are the beating heart of our economy, accounting for more than 99 percent of businesses in the state and employing just under half of working Arkansans, according to the Small Business Administration.
When you stop in at your favorite coffee shop, locally-owned boutique, or family-run hardware store, your dollars go further. Nearly 68 cents of every dollar spent at a small business stays within the community where it’s spent and creates another 50 cents in local business activity.
Small businesses’ investment in the community goes well beyond providing good-paying jobs for our friends and neighbors. Oftentimes, it is small business owners who sponsor Little Leagues, contribute to school fundraisers, and help keep food pantry shelves stocked.
This holiday season, don’t forget to shop small. Our local businesses keep our communities strong and our economy growing. When Main Street prospers, we all prosper.
Editor’s note: Katie Burns is the State Director of the National Federation of Independent Business in Arkansas. The opinions expressed are those of the author.
