Small Business Saturday

Small Business Saturday – November 25th, 2023

The Friday after Thanksgiving is the biggest shopping day of the year, when retailers finally start generating profit, enabling them to move from 'being in the red' to 'being in the black.' Prepare to shell out some cash this season. 

HISTORY OF SMALL BUSINESS SATURDAY

Ironically, Small Business Saturday was started in 2010 by American Express, a U.S. corporation with revenue worth $37 billion in 2018. Five years later, the U.S. Small Business Administration joined as a co-sponsor. Small Business Saturday has become an important part of how small businesses launch their most busy shopping season. 

The total reported spending among U.S. consumers that shopped at independent retailers and restaurants on this day recorded the highest level of approximately $17.8 billion, according to the 2018 SBS Consumer Insights Survey. The survey also indicated that over 70% of consumers know that the Small Business Saturday Initiative Spending on the SBS has reached an estimated $103 billion since its initiation. Through these Small Business Saturday events, SBA, Women Impacting Public Policy (WIPP), and American Express aim to drive traffic and revenue to over 30 million American independent businesses. 

Created in 1953, the United States SBA helps Americans start, build and grow businesses. It is a federal agency that aids, counsels, assists, and protects the interests of small businesses interests, preserves free competitive enterprise, and maintains the country's overall economy.

Further, the SBA provides access to capital, entrepreneurial development, government contracting, and advocacy for small businesses. It offers free counseling and low-cost training to new entrepreneurs and low-cost businesses in locations over 1800.

 

STATISTICS ON THE SMALL BUSINESS SATURDAY

 

Over 99.7% of all U.S. businesses are classified as small.

Startups and tech-based businesses take up many small businesses within the United States in California, New York, and all surrounding areas.

Between 1993 and 2011, small businesses created 64% of all new jobs in the U.S.

The inception of a new business creates a bunch of jobs needing someone skilled to handle the job requirements; hence small businesses are reported to employ the highest number of people in the U.S.

Small businesses donate 250% more to nonprofits and community-based initiatives.

Donating to charity allows these businesses to give back to the community and helps spread awareness about the business's existence and values.

WHY SMALL BUSINESS SATURDAY IS VERY IMPORTANT

 Convenience

Except for those staying in major metropolitan areas, there are high chances that the closest stores you will see are small businesses.

 Hard work

Your local store will always ensure you leave happy and could go to the extent of keeping your favorite items in stock.

 Know Your Neighborhood

It is the best way to get to know the small businesses around you and the neighborhood and community.

Are you a small business operating in the U.S.? 

It's time to get the recognition you deserve. For years most business awards have been focused on celebrating big corporations, but the Best of America Small Business Awards is the only business award for small businesses. Small businesses make up 99% of U.S. companies; this shows how big small companies are for our economy.  

BASA is the real deal, as it is prestigiously independent and was created with an unwavering love for small businesses. The award aims to showcase the best small businesses' notable efforts in growing and building economies, communities, and a better working world while encouraging more small businesses to get excited about new opportunities.

With over 100+ categories to choose from, the award is not influenced by big corporations and has no nepotism, vetting process, or big guys, always winning nature. BASA's independent council of judges only cares about one thing- your work!

 

The BASA statuette is a hand-made work of art uniquely created in Italy by the internationally acclaimed artist Ithaca. Learn more at www.basawards.com.