Small Business Saturday, a promotion that became known around the nation in 2010, takes place the day after Black Friday and two days before Cyber Monday — which are aimed at shoppers looking to capitalize on deals at big-box retail stores and online. Saturday, however, is dedicated to encouraging shoppers to spend their money at local shops and service providers in order to energize small towns’ economies and improve downtowns.
American Express initiated Small Business Saturday in 2010, and it has taken off in the years since. In its first year, the promotion received more than a million likes on Facebook. In 2011, the U.S. Senate officially recognized Small Business Saturday. With millions of shoppers taking part, an estimated $5.5 billion was spent last year. While 67 percent of consumers reported awareness of the day last year, advertisements and television commercials encouraging local shopping this year have contributed to predictions of even greater spending.
Small Business Saturday is touted as the biggest day to make a difference in one’s downtown. The idea is to pump money into the community to help business owners and service providers increase revenue, and with it local employment opportunities. As well, thriving small businesses mean less need for tax increases.