Entrepreneurs drive America’s economy, accounting for the majority of our nation’s new job creation and innovations. According to the U. S. Census Bureau’s 2002 Survey of Business Owners, self-employed individuals who have no paid employees operate three-fourths of U.S. businesses. The U. S. Small Business Administration reports that America’s 25.8 million small businesses employ more than 50 percent of the private workforce, generate more than half of the nation’s gross domestic product, and are the principal source of new jobs in the U.S. economy. It is no wonder that Small Business Saturday has become so important for small business owners across this country.
“Small Business Saturday”, created by American Express in 2010, lands on November 28th this year and is one of the biggest days of the year for thousands of small businesses.
The National Federation of Independent Business (NFIB/California) the largest small-business association says, “If you want to support your friends and neighbors, then you need to support Small Business Saturday.”
And why could it be so huge for small businesses this year? According to a new industry survey that looks at the strategies small businesses will use to maximize customer turnout this year, 70 percent of small-business owners believe Small Business Saturday will be helpful in attracting new business this holiday season.
Thanksgiving falls late this year, and with five fewer shopping days before Christmas than last year, small businesses around the country are gearing up for the fifth annual Small Business Saturday on November 28th.
According to a new survey released by the NFIB, 70 percent of small-business owners say the day is helpful in attracting new customers. The “Small Business Saturday Insights Survey” also found that to help boost sales, almost 70 percent of small-business owners will offer discounts, 33 percent will offer customers a free gift with a purchase, and about 40 percent will collaborate with other small businesses in their community to promote the day.
“Small-business owners are always looking for new ways to creatively promote their products and services — especially in a tough economy,” Dan Danner, NFIB president and CEO, said in a statement. “Small Business Saturday is a reminder of how important the small-business sector is to our economy and why it’s so important to shop small all year around.”
Created by American Express in 2010, Small Business Saturday generated about $5.5 billion in consumer spending in 2012. Total spending during Thanksgiving weekend last year was an estimated $59.1 billion, according to the National Retail Federation.
NFIB wants to lend a hand and put small businesses front and center by helping small and independent businesses to get the word out online about their best Small Business Saturday deals.