Don’t miss out on the chance to support small business in the upcoming holiday season. Small Business Saturday will be held on November 25th, continuing a tradition that American Express began in 2010 which the U.S. Small Business Administration joined as sponsor in 2011.
Each year Small Business Saturday is held on the Saturday right after Thanksgiving and between Black Friday and Cyber Monday. During the holiday season when retail sales surge, small businesses are often overshadowed by online deals and large retailers offering enticing discounts. But many small businesses support their local communities year-round, so they need to benefit from seasonal holiday sales.
The retail industry accounts for a large portion of the U.S. work force and GDP and small businesses account for 99.9% of all U.S. businesses, according to the U.S. Small Business Administration (SBA), as of 2022.
Through promotion of Small Business Saturday, American shoppers become more aware of the role that small business has in their communities. In the past local small business shops were forced to compete with the malls and then ecommerce, however, the latter has enabled some small businesses to leverage the internet for greater revenue.
American Express’ 2022 Small Business Saturday Consumer Insights Survey revealed that 72% of shoppers said this special promotion day for small business encourages them to shop and dine at small, independently-owned retailers and restaurants throughout the year.
Small Business Saturday drove an estimated $17.9 billion[1] based on projections taken from U.S. consumer reported spending. More than two-thirds (72%) of shoppers strongly agreeing they will continue to Shop Small throughout the holiday season because of the impact it has on their local community.
American Express offers free promotional materials for Small Business Saturday at Free Shop Small® Marketing Materials for Small Businesses I Amex US (americanexpress.com)
The sponsor of Small Business Saturday 2023, the U.S. Small Business Administration, defines small business based on a business’ number of employees or its average annual receipts. This establishes the maximum size of a small business to be eligible for SBA and federal contracting programs. The definition varies by industry for which the SBA offers a Table Size guide.
