As the holiday season approaches, Isabel Casillas Guzman, the U.S. Small Business Administration (SBA) Administrator, calls on Americans to participate in Small Business Saturday on November 25. This day, falling just after Thanksgiving is not just a shopping event but a celebration of the 33 million small businesses that form the backbone of local communities nationwide.
“Small businesses are the heart and soul of our neighborhoods, powering local economies and strengthening communities,” Guzman emphasized. Her message resonates with the spirit of entrepreneurship and community support that Small Business Saturday embodies.
Initiated by American Express in 2010 and cosponsored by the SBA since 2011, this day is dedicated to supporting local small businesses that create jobs, boost the economy, and enrich neighborhoods. Last year, a record high of approximately $17.9 billion was spent at independent retailers and restaurants on this day, according to the American Express 2022 Small Business Saturday Consumer Insights Survey.
The significance of Small Business Saturday extends beyond mere numbers. It’s a day that puts a spotlight on the diversity of small businesses and their contribution to the economic and social fabric of communities. The day encourages shoppers to think locally and acknowledge the impact of their spending on their own neighborhoods.
President Biden’s economic agenda, Investing in America, has also played a crucial role in bolstering the small business sector. Since the President took office, there have been 14 million new small business applications, underscoring a historic boom in entrepreneurship in the United States.
Small Business Saturday 2023 is more than just a shopping day; it’s a symbol of resilience and unity. It offers an opportunity for consumers to show their support for the small businesses that have been essential in driving the nation’s economic growth.