Ed. note: This was cross-posted from the Small Business Administration's Open for Business blog
You’ve heard of Black Friday. And Cyber Monday. But did you know that this Saturday is Small Business Saturday? We’re encouraging everyone to visit a small business to do some holiday shopping this Saturday.
As President Obama said in a message out to all Small Business Saturday supporters:
From the mom-and-pop storefront shops that anchor Main Street to the high-tech startups that keep America on the cutting edge, small businesses are the backbone of our economy and the cornerstones of our Nation’s promise. These businesses create two out of every three new jobs in America, helping spur economic development in communities across our country and giving millions of families and individuals the opportunity to achieve the American dream. Through events such as Small Business Saturday, we keep our local economies strong and help maintain an American economy that can compete and win in the 21st century.
When you walk down Main Street in any city in America, you can often find great restaurants, service providers, and handcrafted, Made-in-America products from local shops. It’s wonderful to simply go in and visit with local business owners and hear what’s happening in the community.
There are many people in my life that appreciate a unique gift from a local business, like the blueberry jam I pick up at the Farmers’ Market in my hometown of Brunswick, Maine. This Saturday, I’m planning to go back to that market early in the morning, and then I will travel to Roslindale, Massachusetts, to celebrate Small Business Saturday with Boston Mayor Tom Menino. Many other top-level officials throughout the Administration are also “shopping small” this Saturday.
Everyone knows that your dollar goes a long way at when you buy a product or service from a small business. That money goes right back into the local economy. And that’s important, because half of working Americans either own or work for a small business, and small businesses create two out of every three new jobs.
It’s great to find the perfect gift from a small business. Often, when you carry it to the counter, you can see the business owner’s eyes light up. They tell a story about how that gift was made. Or where it came from. Or how it’s a one-of-a-kind. And the gift immediately becomes even more meaningful and special. Moments like that are what makes the holidays magical.
In addition to our support for Small Business Saturday, the SBA is working hard to make sure even more small businesses can keep growing. For example, we had an all-time record for SBA loans this year, with over $30 billion in lending support that helped about 60,000 small businesses buy a new building, get more equipment, or hire more workers. And, right now, the President is calling on Congress to cut in half the payroll taxes for small businesses as part of the American Jobs Act.
Let’s all do our part to support America’s small businesses as they continue to strengthen our economy and create jobs. Happy Thanksgiving, Happy Small Business Saturday, and Happy Holidays.