Small Business Saturday—the Saturday after Thanksgiving dedicated to supporting small businesses—is fast approaching. This year, it falls on November 28th. Last year, there was record high participation with an estimated $19.6 billion in reported spending. Although the results predictably will not be the same due to COVID, small businesses hope that this is the day they will recover from unimaginable losses sustained over the past couple of months.
As with any other sector, the small business industry has been hit significantly by COVID–19. For those that were hit the hardest, it could take up to five years to return to the 2019–level economic state. For the approximately 31.7 million small businesses in the U.S, patrons are needed now more than ever.
So, the real question is: why should you shop small?
Small Businesses Create Huge Economic Impact
Small businesses create two–thirds of net new jobs in the U.S, and while big businesses have eliminated four million jobs since 1990, small businesses reversed this loss by adding eight million. By contributing to the success of small businesses, you would also be generating that job opportunity for someone who needs it. Small businesses also promote competition and help to prevent monopolies, adding both product and company diversity.
Giving Back to Your Community
Shopping at local businesses also supports the local community's economy. For instance, if you spend $100 at a small business, $68 of it stays in the local economy- whereas a big business would retain much more of the profit. Taxes from local businesses are used to fund public service workers, schools, parks, roads, and sidewalks, so you can directly see the impact of the business's taxpayer dollars.
Better Customer Service
Small businesses create more personable experiences and products. Take it from Jill Lee (W ‘24) who says, “Whenever I’m shopping for gifts, I’ll opt for small businesses. It’s so much more personal and makes the recipient feel so much more special than a generic gift, and at the same time you can support someone who’s working really hard to make their customers feel special.”
Famous for offering original, authentic items or personalized services, small businesses are also known to make the most out of a purchase. A popular trend on TikTok is the “Package an Order With Me,” video in which small business owners show followers the process of what goes into each order. Often shown are complimentary stickers, candy, scrunchies, or other goodies, while the boxes are packed with luscious decorations. These owners pay great attention to detail, hoping you or others will come back again.
I personally had the chance to represent a small accessory business—Olimay & Co.. The owner was overwhelmingly grateful to work with me and sent me some of the cutest earrings to match some of my outfits. Not only did she send the pieces in beautiful packaging, but she also hand-wrote me a thank–you card. It was the thought and appreciation of my order that made me want to try my hardest to put forth the same effort into my posts.
Of course, small businesses in the food industry are equally as important. Laura Baeyens (C’24) usually opts for local establishments instead of large chains whenever possible. Small business restaurants tend to have a more unique aspect to them, such as Jacob’s Pickles in New York City, which specializes in everything pickle related.
Small businesses are everywhere, as long as you take that step to look a second away from the comfortable big–name brands. They are gaining popularity on social media such as Instagram or Tiktok but the best website to find these businesses is Etsy. From candles to jewelry to thrift bundles, you can find anything on Etsy.
So, next time you want to go out on a shopping spree, take a quick look at your socials and see if you can shop small instead.
