“A survey by NFIB found 108 million consumers reported shopping or dining at local businesses on Small Business Saturday in 2017. And 90 percent of consumers agreed that Small Business Saturday makes a positive impact on their community.”

Small Business Saturday shows the big economic benefits of shopping small

By Administrator Linda McMahon

Fox News

November 23, 2018

For nearly a decade, Small Business Saturday has helped independently owned stores compete with national chains, online retailers and big box stores. Across the country, locally owned shops are finding creative ways to drive traffic through their doors or to their e-commerce sites.

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As head of the U.S. Small Business Administration, I have visited more than 800 small businesses in nearly every state. This Small Business Saturday, I invite shoppers to support the local retailers that make their communities special.

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A survey by NFIB found 108 million consumers reported shopping or dining at local businesses on Small Business Saturday in 2017. And 90 percent of consumers agreed that Small Business Saturday makes a positive impact on their community.

This year, Small Business Saturday has the potential to be even greater. The National Retail Federation forecasts holiday retail sales will increase between 4.3 and 4.8 percent over last year. Nationwide, shoppers are expected to spend as much as $720 billion.

The reason? A strong economy and record level consumer optimism. The unemployment rate is at its lowest level in almost 50 years and consumer confidence is at its highest level in 18 years.

The tax cuts spearheaded by President Trump mean more workers have gotten new jobs, raises, and bonuses – giving them more money to spend. Plus, as small businesses succeed, they create more revenue and more jobs for their communities – benefits that propel our economy and our nation toward even greater prosperity.

Small businesses create two out of three net new jobs in the private sector, and about half of America’s workforce either works for or owns a small business. These businesses reflect the innovative spirit of our nation and invigorate neighborhoods and cities, making them vibrant places to live, work and raise a family.

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Read the full op-ed here.