When we take the pulse of the economy, small businesses are often overlooked. Why is that? Is it their size? The lack of a household brand name? The low amount of revenue they generate? The truth is, there’s nothing small about the impact of small business on our economy. According to Entrepreneur Magazine there are between 25 million and 27 million small businesses in the U.S. that account for 60 to 80 percent of all U.S. jobs. What would happen to the U.S. unemployment rate if every small business added just one new job in 2013? A huge impact, that’s what.
A few facts about small business:
- Small business pays 44 percent of the U.S. private payroll.
- Small business created 65 percent of the net new jobs created in the 17 year period ending in 2009.
- 78 percent of small businesses believe that there is growing appreciation for shopping locally in the U.S.
Clearly, people are starting to take notice. Not only are we starting to see the impact of small business from the economic side but, in our daily lives, as well. Never before have start-ups and entrepreneurship been so impactful. New programs can be seen across the country working to foster these enterprises. Even at the local level, initiatives like Space for Startups in Durham, Triangle Entreprenuership Week, and the Raleigh SCORE program, all exist to nurture and improve opportunities for the launch of small businesses. In fact, in 2009 CNN Money named Raleigh, NC as one of the top ten places to launch a business.
Supporting these businesses is important now more than ever since cultivating small businesses will grow the marketplace. Enter, Small Business Saturday (November 24th). Dreamed up by American Express in 2010, this is a day to celebrate what you love most about your local community stores – the familiar face across the counter, the wine shop that always knows exactly what you prefer…minus the 4 a.m. line-sitting, frenzied crowds, overcrowded parking lots … or potential loss of limb on Black Friday.
Because most of these stores are not in the mall, they don’t get the Black Friday traffic the larger retails will realize. Supporting our local stores on the 24th is an easy way to help them grow their businesses. So why not get out there on Small Business Saturday? It sure beats dealing with the crowds at the mall.
To learn more about how to get involved, check out these Small Business Saturday resources:
- Small Business Saturday Website.
- Facebook Page for Small Business Saturday.
- Small Business Saturday on Twitter. If tweeting about the event, you can use the hashtag #ShopSmall.
- A digital marketing guide to prepare for Small Business Saturday – Washington Post
- With Facebook, and Google involved, Small Business Saturday gets Bigger – Washington Post
- 100 Million Consumers Shop Local on Small Business Saturday - Forbes