It’s an American Tradition: Shop on Small Business Saturday

By Small Business Administration District Director Michael Ricks
As we begin the holiday shopping season, let’s recommit to honoring our neighborhood champions, Louisiana’s small retailers and neighborhood eateries. As the voice for our nation’s entrepreneurs, the U.S. Small Business Administration (SBA) celebrates small businesses on a daily basis. When our small businesses do well, our communities do too.
On Saturday, I encourage you to join millions of Louisianans and other Americans to “shop” on Small Business Saturday, which has become an American tradition. Small businesses represent the dynamic demographics of Louisiana, encompassing everyone from your delicious, unique mom and pop coffee shops, restaurants and bakeries to your neighborhood specialty boutique or traditional manufacturer.
This past fiscal year, the SBA approved $194.3 million in loans to 388 Louisiana small businesses. Small business in Louisiana nets 16,462 new jobs. When we shop small we’re supporting small businesses like those in Louisiana.
Impact of the Retail Industry
According to the National Retail Federation (NRF), consumer spending accounts for 70 percent of gross domestic product (GDP) year-round, delivering a big boost to the U.S. economy. That’s why consumer motivations and behavior behind that spending are critically important at this time of year. Holiday sales account for 19 percent of annual retail industry sales, according to the NRF. This year, NRF expects U.S. holiday retail sales to increase 3.6 to 4 percent, over last year’s 3.6 percent increase.
Impact of Small Business Saturday
In 2016, 112 million consumers spent $16.2 billion at local and main street merchants and restaurants on Small Business Saturday. That’s a 13 percent increase in the number of consumers, for local businesses across the country hit record highs with 72 percent of U.S. consumers aware of the day. The average Small Business Saturday shopper and/or diner spent $170. Many consumers said Small Business Saturday inspires them to continue to shop and dine small throughout the year and not just for the holidays. Many consumers said Small Business Saturday inspires them to continue to shop and dine small throughout the year and not just for the holidays.
Among those who shopped on Small Business Saturday, 81 percent helped spread the word by encouraging family and friends.
You can do your part with these five simple steps:
If you’re a business owner, make sure you’re prepared for the holiday season by checking out helpful advice atsba.gov/smallbusinesssaturday.
If you’re a customer, commit to making at least one purchase from a locally-owned small business retailer. Get to know the owner, and make your gift more meaningful by sharing their story as part of what you give your loved ones.
Enjoy the experience. Travel outside your comfort zone -- and away from your computer screen -- to discover an out-of-the ordinary shopping district with some trendy local stores.
Join the conversation on social media, using the hashtag #SmallBizSat, and #ShopSmall to amplify your support. If you find a great small business retailer with unique products, Tweet or Facebook your find so others can enjoy it too.
When you open your gifts, start a conversation about which one came from the most distinctive and creative sellers. This can make for great debate over egg nog or your holiday drink of choice.
Join me in supporting and driving Small Business Saturday until the sun goes down on Saturday in Louisiana. And remember that “shop small” refers to from whom you buy, and not how much you buy!
Michael Ricks serves as the SBA’s Louisiana District Director and oversees the agency’s programs and services in 64 Louisiana parishes.