Small Business Saturday has become an essential part of the
holiday shopping season in the Unites States. This idea was originally
conceived by American Express in 2010 and is officially cosponsored by the
Small Business Administration since 2011. It was found to support independent
and local businesses who have a hard time in competing with large businesses on
Black Friday or Cyber Monday. According to estimates from American Express, the
amount of Small Business Saturday spending at independent retailers and
restaurants was approximately $23.3 billion last year.
The Small Business Administration wrote the following emphasizing the importance of the initiative this year:
“This year, we know that small businesses need our support now more than ever as they navigate, retool and pivot from the effects of the coronavirus pandemic.”
As the infographic shows, small companies, especially in
retail market, support millions of jobs in the United States. According to
census data of United States, more than 10 million people in retail trade
worked at establishments with less than 100 employees in 2020. Nearly 5 million
people worked at places that had less than 20 employees. This indicates that
buying from independent and local sellers does not only support the small business,
but it also helps the people who depend on that business for their living.
Infographic by: statista
