5 Big Reasons to Shop Small Businesses on Saturday
Small Business Saturday is the gem between the chaos of Black Friday and Cyber Monday.
As the top SBA lender in Utah and Idaho, Zions Bank understands the importance of small businesses to our local economy and we’re thankful for the work they do to create jobs and fuel growth. With the holiday shopping season upon us, it’s a great time to give back to the businesses that do so much for our communities by supporting Small Business Saturday.
Small Business Saturday was created in 2010 to encourage communities to support each other by shopping local. Here are a few reasons you should shake off the turkey hangover on Nov. 24 to convene with family and friends at your neighborhood stores.
Reason #1 to Shop Small: Small Businesses Shape the Economy
According to the U.S. Small Business Administration, 99.3 percent of businesses in Utah and 99.2 percent of businesses in Idaho are small businesses. Frequenting solely big businesses is like eating only plain turkey on Thanksgiving — there’s a lot you’re missing out on.
According to the SBA, the 30.2 million small businesses in the U.S. added 1.9 million net new jobs and employed 47.5 percent of the country’s private workforce — which put a lot of turkeys on families’ tables this Thanksgiving.
Reason #2 to Shop Small: Money Spent Local Stays Local
Shopping local puts money back into the community. According to a study by Civic Economics, 48 percent of each local purchase was recirculated in the community, compared to 14 percent of purchases made at big businesses.
When buying a holiday gift for someone at a small business, the money will likely go from your wallet to other small businesses to pay for upkeep, advertising, and other operating costs. By using your purchasing power at a small business, you’re supporting local employees, including friends and neighbors.
Many consumers may already understand these benefits. According to a 2017 survey by Cicero Group, 38 percent of Utahns and 51 percent of Idahoans said they were “very likely” to purchase locally sourced products.
Reason #3 to Shop Small: Vibrancy
Think of what you love about your community. Is it the abundance of strip malls? Local retailers make communities unique and memorable.
Whether you’re going to the birding store around the corner, spending an evening with your bookshop’s book club, studying at the local coffee shop where the barista knows your order, or sampling the delicacies your town is famous for, small businesses make for memorable experiences that don’t just allow you to get unique gifts, but give you the opportunity to bond with friends and neighbors.
Reason #4 to Shop Small: One-of-a-Kind Gifts
Local retailers can offer a bit of uniqueness that big box retailers and mass-produced goods often can’t. Whether it’s a local, handmade product or a specialty drink, buying local can help ensure the gifts you’re buying are as unique as the person you’re buying them for.
Reason #5 to Shop Small: Supporting Local Businesses Brings Communities Together
Small businesses aren’t only creating jobs, they’re bringing communities closer together. A 2014 small business study from Baylor University found employees were more likely to be committed to local employers. Those strong business ties resulted in employees that built stronger, deeper roots in their communities. The best way to make sure you live in a great place is to invest in it — and a great way to do that is to support your neighbors by shopping local.
Thanksgiving is a time for thankfulness, and there’s no better way to show your gratitude to your community than by grabbing a friend to explore the vibrancy of local retailers. Zions Bank hopes you’ll keep money in your community, help create jobs, and strengthen community ties by hitting your town on Small Business Saturday to shop local.