Detroit City Wire

Small Business Saturday, observed annually on the Saturday following Thanksgiving, will take place this year on November 30, 2024. Initiated in 2010, the event has become a significant day for recognizing the contribution of small businesses to the U.S. economy.

The U.S. Chamber of Commerce emphasizes the importance of supporting local small businesses, which constitute 99% of all businesses in the country and contribute significantly to economic activity. The holiday season is crucial for these businesses, with many relying heavily on holiday sales for profitability. According to Quickbooks data, 61% of small business owners cite holiday revenue as vital to their success.

Despite expectations of reduced consumer spending at small businesses this year due to inflationary pressures, loyalty remains strong among consumers who prefer shopping at smaller establishments to support community growth and entrepreneurial success.

Victoria Kidd, owner of Hideaway Café in Winchester, Virginia, highlights that "your local dollar comes back to you in a variety of ways," through contributions like sales tax that fund public services and infrastructure. The MetLife and U.S. Chamber Small Business Index indicates that most small business owners engage actively with their communities by hosting events or donating locally.

Shopping at small businesses offers unique benefits such as handmade items and personalized service not typically available from larger retailers. QuickBooks reports that 52% of consumers seek unique gifts from small businesses during the holidays.

With increasing digital commerce trends, many consumers plan a balanced approach between online and in-person shopping this holiday season. Hrag Kalebjian from Henry’s House of Coffee notes the critical role online channels played during the pandemic when physical stores were less accessible.

While free shipping remains challenging for many small business owners due to cost constraints, social media platforms are increasingly used for marketing and sales by over half of these entrepreneurs.

The U.S. Chamber of Commerce continues its advocacy for millions of small businesses nationwide and encourages consumers to consider them while shopping this season.