Business

Supporting Small Business for the Holidays

There is a special shopping day just for small shops called “Small Business Saturday.”

Nov 23, 2015

Holiday shopping kicks off this month, which is a good time to remember to support your local, small businesses as you decide where to purchase gifts. Retail spending is expected to reach $885.7 billion in November and December 2015, according to eMarketer.com. Many people choose to shop on designated days such as Black Friday, which is the Friday after Thanksgiving that mostly supports big box stores. Others shop on Cyber Monday, which supports online retail shopping the Monday after Thanksgiving

Big box stores and online shopping tend to get a large cut of our holiday spending; however, we shouldn’t forget about our small local shops. In Utah and Idaho, more than 90 percent of businesses are small businesses. This large portion of businessmen and women are our neighbors and friends who rely on the success of their businesses to make a living. For most small businesses, the holiday season can affect their entire livelihood. Small businesses could make up four or five times their normal revenue during the holidays.

There is a special shopping day just for small shops called “Small Business Saturday” on November 27. This is the Saturday right after the Black Friday frenzy and before the Cyber Monday shopping.

Small Business Saturday is a national initiative that started in 2010 to encourage the support of local businesses during the holiday season. But you can support local entrepreneurs any day during the holiday season, and Zions Bank’s Amazing Local Deals feature some home-grown discounts from some great mom-and-pop shops.

Small businesses are critical to the economies of Idaho and Utah. They create jobs. They fuel additional businesses. They generate revenue in communities statewide. By shopping and doing business in your own neighborhood, you can help strengthen your local community.

The good news is that a report from G/O Digital shows that more than half of consumers say they will complete most of their holiday shopping in-store at a local small business.

It’s great that consumers want to support local businesses; they often just need a reminder to do so. There are a few key reasons why it’s good to shop at local businesses for the holidays:

  • First, you will be contributing to the local businesses’ prosperity, which may go on to affect the economic growth of your community.
  • Another reason is that you can stand out with your gift giving by shopping local. Instead of getting the same deals on clothing and toys that everyone else is giving their family and friends, you could find more unique products and gifts at a local business that couldn’t be found elsewhere.
  • You may also find different deals on products in the store that are unique from the typical big box stores. Take a look at their holiday specials, as they have more flexibility to be creative with their deals.
  • Also, consumers often reported a better experience shopping at a local business as it tended to be more personable and more focused on the consumer’s needs.

Mark November 27 on your calendar to celebrate “Small Business Saturday.” Go out and support the local businesses in your community.

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