“Small Business Saturday” promotes spending in the local economy

Small Business Saturday November 26, 2022

Holiday shoppers this week have no shortage of options with Small Business Saturday being observed on Nov. 26.

Sandwiched between Black Friday and Cyber Monday, Small Business Saturday reminds shoppers to patronize local retailers, craftspeople, and restaurants as they prepare for the holidays. A small-business economic impact study conducted for American Express reported of every dollar spent at a small business, 68 cents stay in the local economy.

Sherry Noller associate state director for Missouri Small Business Development Centers talked about what it looks like when small businesses are thriving in their communities. “Small businesses that are thriving in our communities are the small businesses that are connecting with their customers,” Noller observed. “You see them involved in the community, especially in our rural communities, our small businesses that are getting involved in supporting local sports teams or supporting the schools.”

Last year, U.S. shoppers spent $23 billion at independent retailers and restaurants on Small Business Saturday.

Small Business Development Centers are a nationwide network, often hosted by universities or state economic development agencies, providing free business consulting along with low-cost training to new and existing businesses.

Noller pointed out the Missouri centers can help businesses of any size from the idea phase on. “We assist businesses anywhere from that pre-venture idea phase, all the way through growth and succession planning as well,” Noller emphasized. “We are a go-to resource for businesses at all stages of their business.”

Small Business Development Centers are funded in part by Congress through the Small Business Administration.