Small Business Saturday is a national shopping day that takes place the Saturday after Thanksgiving. What separates this shopping day apart from Black Friday and Cyber Monday is that SBS revolves around small businesses. Still relatively new, Small Business Saturday was started in 2010 by American Express. In 2011, the U.S. Senate officially recognized Small Business Saturday. Small businesses in the retail and service industry only make up a part of the lower middle market as a whole, but a visible day for supporting small businesses is good for everyone. Here’s why.
There are 30.2 million small businesses in the United States, accounting for 99.9% of U.S. businesses. If 99.9% of all businesses didn’t exist, our consumer choices would be severely limited. Small businesses promote competition and help prevent monopolies. By encouraging competition, small companies move the economy along. Consumer spending on Small Business Saturday put a substantial amount of money back into the economy in 2017. Nationwide, consumers spent about $12 million on Small Business Saturday alone. If you’re a consumer shopping on SBS or a small business participating in SBS, you can directly support the economy. And if you support small businesses by encouraging others to shop, you can indirectly impact the economy.
Small Business Saturday is also a community-centric day. It’s a day where communities can rally around their local small companies and host community events. Consumers who spend on SBS support their local communities. Plus, small businesses are crucial to communities. Small enterprises add diversity, can become tourist attractions, and put money back into their local economies. Small businesses that participate in SBS support their communities, too. Many small companies use Small Business Saturday as a chance to donate a percentage of their revenues to their communities. Plus. the unemployment rate is at 3.7%. And, 47.5% of U.S. employees (59.9 million) are employed at a small business. Small businesses consistently produce new jobs, fueling economic growth and contributing to a low unemployment rate. When you support small businesses, you also support the individuals working there. By supporting a small business, you support your neighbors, friends, and family when you get out and shop local.
Small Business Saturday gives consumers the opportunity to check out new businesses, learn where the products come from, and get to know the people behind them. And, it allows small businesses to tell their authentic stories, warts and all. Supporting small businesses is important, and that’s why at SA Capital Partners, we support lower middle market businesses every day by offering financial services that help equip entrepreneurs and business owners with the tools they need to find financial security and strength. Shop local on November 24th!
About SA Capital Partners:
SA Capital Partners is an innovative financial services firm that specializes in mergers & acquisitions advisory and capital raising for lower middle market businesses. We aspire to give all the tools necessary to complete any transaction. SA Capital Partner’s financial services industry specialists provide comprehensive, integrated solutions to banking transactions. Our breadth of services and industry knowledge allow us to understand each client’s unique business needs. Our goal is to make all financial services available to every small business.