Small Business Saturday

Small Business Saturday. This annual event is celebrated on the Saturday after Thanksgiving in the United States, and is also observed in other countries such as the United Kingdom, Canada, and Australia. The event was first introduced by American Express in 2010, in partnership with the National Federation of Independent Business, the National Retail Federation, and Local Initiatives Support Corporation. The goal of the event is to promote and support local businesses, such as those found in New York City, Los Angeles, Chicago, and Houston, by encouraging consumers to shop at small, independent retailers, like Target Corporation, Walmart, and Costco Wholesale, and to dine at local restaurants, such as McDonald's, Starbucks, and Subway (restaurant).

History_of_Small_Business_Saturday

The concept of Small Business Saturday was first introduced by American Express in 2010, with the support of Mayor Michael Bloomberg of New York City, and the National Trust for Historic Preservation. The event was created to help small businesses, such as those in San Francisco, Boston, and Seattle, recover from the economic downturn caused by the Great Recession. The first Small Business Saturday event was held on November 27, 2010, and was promoted through social media platforms, such as Facebook, Twitter, and Instagram, as well as through partnerships with organizations like the United States Chamber of Commerce, the National Association of Women Business Owners, and the Minority Business Development Agency. The event was also supported by President Barack Obama, who encouraged Americans to shop at small businesses, like Apple Inc., Google, and Amazon (company), and to support local entrepreneurs, such as Mark Zuckerberg, Bill Gates, and Warren Buffett.

Purpose_and_Objectives

The primary purpose of Small Business Saturday is to promote and support local businesses, such as those in Dallas, Philadelphia, and Washington, D.C., by encouraging consumers to shop at small, independent retailers, like Best Buy, Home Depot, and Lowe's. The event aims to raise awareness about the importance of small businesses, such as Microsoft, IBM, and Intel, to the local economy, and to provide them with the support and resources they need to succeed, through organizations like the Small Business Administration, the Federal Reserve, and the Internal Revenue Service. The event also seeks to promote entrepreneurship, such as through the Startup America initiative, and to encourage consumers to think locally, like AOL, eBay, and PayPal, when making purchasing decisions, and to support local events, such as the Tribeca Film Festival, the Sundance Film Festival, and the Coachella Valley Music and Arts Festival.

Participation_and_Impact

Small Business Saturday has gained significant participation and support from businesses, organizations, and consumers across the United States, including cities like Denver, Portland, and Nashville. In 2019, over 100 million consumers shopped at small businesses, like Nike, Inc., Coca-Cola, and Procter & Gamble, on Small Business Saturday, resulting in an estimated $19.6 billion in sales, according to the National Retail Federation, and the U.S. Census Bureau. The event has also had a significant impact on local economies, with many small businesses, such as Whole Foods Market, Trader Joe's, and Costco Wholesale, reporting increased sales and revenue on Small Business Saturday, and has been supported by organizations like the National Association of Realtors, the National Association of Home Builders, and the United States Conference of Mayors.

Marketing_and_Promotion

Small Business Saturday is promoted through a variety of marketing and promotional efforts, including social media campaigns, like those on Facebook, Twitter, and Instagram, and partnerships with organizations, such as the United States Chamber of Commerce, the National Federation of Independent Business, and the Local Initiatives Support Corporation. The event is also supported by local governments, such as the City of New York, the City of Los Angeles, and the City of Chicago, and by business organizations, like the National Restaurant Association, the National Retail Federation, and the International Council of Shopping Centers. Additionally, many small businesses, such as Apple Inc., Google, and Amazon (company), offer special promotions and discounts on Small Business Saturday, like Black Friday (shopping), and Cyber Monday, to attract customers and drive sales, and participate in events like the Small Business Expo, the Entrepreneur Expo, and the Franchise Expo.

Economic_Effects

The economic effects of Small Business Saturday are significant, with the event generating billions of dollars in sales and revenue for small businesses, like Microsoft, IBM, and Intel, across the United States, and supporting local economies, like those in Silicon Valley, Wall Street, and Hollywood. According to the National Retail Federation, Small Business Saturday has become one of the busiest shopping days of the year, with many consumers, like those in California, Texas, and Florida, choosing to shop at small, independent retailers, like Target Corporation, Walmart, and Costco Wholesale, rather than large chain stores, like Macy's, Kohl's, and JCPenney. The event also has a positive impact on local employment, with many small businesses, such as McDonald's, Starbucks, and Subway (restaurant), hiring additional staff to meet the demand on Small Business Saturday, and has been supported by organizations like the Federal Reserve, the Internal Revenue Service, and the U.S. Department of Commerce.