Consumers "shop small" on Small Business Saturday
(KMSP) - For shoppers who try to avoid Black Friday crowds, the following day provides the perfect opportunity: Small Business Saturday.
The "holiday" provides a chance for small businesses to shine, finding the happy medium between Black Friday for major retail outlets, and Cyber Monday for online retailers.
Tucked in between enormous ad campaigns and over-crowded parking lots, Small Business Saturday allows shoppers to support small, local businesses that make their community unique.
Turns out, putting gift-giving dollars toward small businesses not only helps neighbors, but gives the economy a boost as well.
Nationwide, there are roughly 30 million small businesses. These businesses account for 99.9 percent of all U.S. businesses, and create 2 out of every 3 new jobs in the private sector.
"Small businesses are truly the engines of our economy -- and our communities." the U.S. Small Business Administration (SBA) said in a release. "Across our great country, neighborhoods and families depend on the success of small business."
According to the SBA, an estimated 112 million people shopped at small businesses on Small Business Saturday last year. This number marked a 13 percent increase from 2015.
In total, consumers spent roughly $15.4 billion at independent retailers and restaurants on the designated day.
"They are the mom-and-pop, brick-and-mortar stores that are locally owned and locally staffed," said the SBA. "They aren't promoting themselves with big advertising budgets or email blasts like their national competitors."
The SBA encourages people to "Shop Small," and sharing splurges on social media with the hashtag: #ShopSmall.