Don't forget to shop on Small Business Saturday

BATON ROUGE, La (LOCAL 33) (FOX 44) - Small Business Saturday is Nov. 25, and the U.S. Small Business Administration (SBA) is encouraging residents to honor the day by shopping at Louisiana small retailers and neighborhood restaurants.  

This past fiscal year, the SBA approved $194.3 million in loans to 388 Louisiana small businesses. Small business in Louisiana nets 16,462 new jobs. When we shop small, we’re supporting small businesses like those. 
 
Impact of the Retail Industry

According to the National Retail Federation (NRF), consumer spending accounts for 70 percent of gross domestic product (GDP) year-round, delivering a big boost to the U.S. economy. That’s why consumer motivations and behavior behind that spending are critically important at this time of year.  Holiday sales account for 19 percent of annual retail industry sales, according to the NRF. This year, NRF expects U.S. holiday retail sales to increase 3.6 – 4.0 percent, over last year’s 3.6 percent increase.
 
Impact of Small Business Saturday

In 2016, 112 million consumers spent $16.2 billion at local and main street merchants and restaurants on Small Business Saturday. The average Small Business Saturday shopper and/or diner spent $170.  Many consumers said Small Business Saturday inspires them to continue to shop and dine small throughout the year and not just for the holidays.
 
Among those who shopped on Small Business Saturday, 81 percent helped spread the word by encouraging family and friends.
 
How to do your part:

  • If you’re a business owner, make sure you’re prepared for the holiday season by checking out helpful advice at http://www.sba.gov/smallbusinesssaturday
  • If you’re a customer, commit to making at least one purchase from a locally-owned small business retailer.  Get to know the owner, and make your gift more meaningful by sharing their story as part of what you give your loved ones.
  • Enjoy the experience.  Travel outside your comfort zone to discover an out-of-the ordinary shopping district with some trendy local stores.  
  • Join the conversation on social media, using the hashtag #SmallBizSat, and #ShopSmall to amplify your support.  If you find a great small business retailer with unique products, Tweet or Facebook your find so others can enjoy it too.
  • When you open your gifts, start a conversation about which one came from the most distinctive and creative sellers.  

 


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