The Importance of Small Business Saturday

Hustle and Cashflow is a blog that aims to educate millennials on personal finance.

The end of November is jam-packed with some of the year’s most important shopping holidays. The few days after Thanksgiving mark the official start of the holiday shopping season, with lengthy lines on Black Friday and digital offers on Cyber Monday. However, there is a relatively new holiday dedicated to small businesses sandwiched between these two massive sales days for huge shops and ecommerce behemoths: Small Business Saturday (SBS). Consumers are encouraged to support and shop at their local and neighbourhood establishments on this national holiday, which was first observed in 2010. We discussed how business owners may prepare for SBS in a previous blog post.
SBS is held every year on the Saturday after Thanksgiving, and this year it will be held on November 28th. SBS will be particularly essential in 2020, given the impact COVID-19 has had on many small company owners across the country. It’s never been more crucial to buy local, given the difficult financial positions many of these businesses are in. We put prepared a list of reasons to shop small on SBS and all Christmas season long, whether you plan to support small companies from the comfort of your sofa or from a safe social distance in stores.

1. Small enterprises provide employment.

According to figures from 2019, small businesses created 1.8 million net new jobs, according to the US Small Business Administration. Shopping at local companies helps to keep people employed while also allowing them to expand and create new jobs.

2. Local companies are concerned about their surroundings.

Small businesses are more inclined to donate to their community and give back. Small businesses, in fact, donate 250 percent more than their larger counterparts. As a result, when you purchase locally, you keep more money in your town, which helps it thrive!

3. They provide products that are one-of-a-kind.

When opposed to big retail stores, small businesses frequently feature more distinctive and variety things, so if you’re seeking for something unusual, small shops are the way to go.

4. Customer service that is tailored to the individual.

Small-scale shopping is ideal for receiving personalised attention. Local business owners are concerned about the people who live in the communities they serve. Many small business owners make it a point to cultivate relationships with their clients while learning about their requirements and preferences.

5. It makes me happy!

It really feels wonderful to support and give back to the businesses that make up your town!

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