What Is Small Business Saturday & How Does It Work?
Small Business Saturday started in 2010—the Saturday after Thanksgiving—as a day dedicated to supporting small business that makes communities thrive. The movement encourages people to support local businesses during one of the busiest shopping times of the year. Small Business Saturday initiative created by American Express has grown exponentially year-over-year generating over $16 billion in sales.
Small Business Saturday By The Numbers
The impact of Small Business Saturday on the American Economy has been positive and has become a movement. Shoppers, businesses, and neighborhoods nationwide have embraced it.
- 95 million people went shopping on Small Business Saturday 2015
- $16.2 Billion was generated for small businesses in 2015.
- Registered Neighborhood Champions reached 4,100 throughout the country (a 48% increase over the previous year) and rallied support for their local small businesses.
- $17.8 billion is expecting to be spent this Small Business Saturday. According to projections, that means an increase of 10% over last year.
- 23 million: the number of small businesses in our country
- 49%: the increase small businesses have seen since 1982
- 8 million: the number of jobs created by small business since 1990
- 500 employees: the maximum number a company can have to be defined as a small business
- $7.5 million: maximum in annual receipts for a company to be defined as a small business
Making The Most Out Of Small Business Saturday
Are you a small business owner? Plan ahead and make sure you’re taking advantage of this shopping holiday by following our step by step guide:
Step #1: Personalize Your Marketing Material: American Express Shop Small Studio offers business owners free downloadable marketing material for social networks, storefront, website and more.
Step #2: Prepare Your Storefront: Get people excited about coming into your store. Whether that means decorating it special or driving awareness to the store through other local businesses/flyers/etc.
Step #3: Prepare Your Website: In today’s society, the internet is a great revenue driver for most businesses. Before Small Business Saturday make sure your website is up and running, your product inventory is full, your brand story and messaging is front and center.
Step #4: Prepare Your Staff: Small Business Saturday can get hectic with shoppers. Make sure your customer service is on-point so people come back!
Step #5: Throw A Small Business Promotion/Event: To get locals and shoppers excited, create a promotion specific to Small Business Saturday so you’re getting feet in the door and people engaged with your products/services. It can be a great idea to also hold an event on that Saturday – think of inviting in industry experts or an influential name in your niche. If you run a boutique, invite one of the designers or jewelry makers; if you run a juice stand, ask a local celebrity or well-known neighborhood health enthusiast to prepare your juices for customers.
Looking for more information on Small Business Saturday? Read our 6 Tips for a Successful Small Business Saturday to squeeze the most out of the event. If you’re a small business owner looking for resources, check out our documents and tools for business start-up.