Though Black Friday gets much of the attention where post-Thanksgiving shopping is concerned, Small Business Saturday provides local merchants and customers the opportunity to get customized gifts while keeping tax dollars at home.
This year’s event will be held Saturday, Nov. 26 throughout the United States.
The day was originally launched by American Express in 2010 and has continued since that time.
This year American Express is enticing card-holders to “shop small” by offering $25.
With the average American anticipated to spend $704 on Christmas gifts this year, American Express CEO Ken Chenault has offered his opinion that he would prefer if the majority of that money was used towards purchases in local businesses.
Small businesses, according to Forbes.com, accounts for half of all private sector jobs and have created 65 percent of all new jobs over the past 17 years.
Since 2010, according to consumeraffairs.com Small Business Saturday efforts have:
• 1.5 million Facebook users + 130 public and private organizations + 41 elected officials joined in on the support base
• 100,000 small businesses that downloaded marketing materials
• free Facebook advertising that day that featured 10,000 businesses signing up
• 200,000 consumers registered their AmEx cards to receive $25 statement credits for shopping
• 28 percent increase in sales from merchants compared to the Saturday after Thanksgiving in 2009
Not only does supporting local businesses feel good but according to small business advocacy group The 3/50 Project with every $100 that is spent at a local retailer, $68 will return to the community through taxes and payroll.
For cities such as Farmersville, this is a huge return on investment offering additional tax monies to both the Community Development Corporation and the Economic Development Corporation.
By Wyndi Veigel • News Editor • [email protected]