Everything you need to know about Small Business Saturday 2019

Shop local, shop small

November saves the best Saturday for last. In the midst of corporate sales days, like Black Friday and Cyber Monday, we’re celebrating small businesses and their unique contributions to the US and global economy.

What is Small Business Saturday?

If you’re by chance unfamiliar with this national event, American Express created Small Business Saturday in 2010 in order to promote appreciation for local businesses in the midst of the holiday retail season.

Why small businesses?

Small businesses are the heart of the US economy. According to the Small Business & Entrepreneurship Council, in 2016, firms with fewer than 100 workers accounted for 98% of US businesses, while firms with fewer than 20 workers made up 89% (including non-employer businesses bumps this number to 98%).

With so many small businesses in the US, it only makes sense to offer them our focus. While we often take small businesses for granted, we have a responsibility to support local. That said, there are some major benefits to shopping small.

The benefits of shopping local

Support the local economy

When buying locally, a majority of your money helps build the local economy. In fact, according to American Express’ Shop Small site, “for every dollar spent at a small business in the US, approximately 67 cents stays in the local community.”

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Otherwise, money given to non-local stores and corporations flows out and doesn’t come back. A community relies on its cash flow like lifeblood, and outside spending can be compared to a wound in the economy.

Additionally, buying local helps put food on the table for our neighbors in business and promotes talented entrepreneurs. Plus, it encourages others to do the same.

Personalized care and genuine service

While major grocery chains and retail giants sometimes provide lower prices and convenience,
small and local businesses have the advantage of providing a more personalized and genuine experience.

Along with tailored customer care, shoppers also have access to quality and unique merchandise and services that can’t be duplicated.

Local businesses are often already invested in their business communities. Shopping at one local business therefore helps another business, and so on. If your favorite cafe uses locally sourced ingredients, you’re promoting more than just a coffee shop.

What other businesses are doing to celebrate

With Small Business Saturday comes higher conversion rates, improved sales, but also increased competition.

Of course, the deals offered vary depending on where you’re located within the US. Small businesses are providing customers with discounts ranging from 5-20% on select items, as well as free samples, classes, sidewalk sales, and community events.

How can your small business take advantage of Small Business Saturday?

There are many ways business owners can make the most of Small Business Saturday. Most importantly, it’s a time to be recognized as a staple within the community, rather than as another shopping option.

Although the sales happen on Small Business Saturday, make sure to keep these efforts up all year long.

Promote your brand

Show customers and the business community what makes your products and services unique. Find a voice and use it, both online and in-store.

Get involved in your community

Strengthen ties and get familiar with your neighbors. Attend events and get your name into the ecosystem. Ensure your brick-and-mortar and online sites are accessible and up-to-date to make your business easy to find. It’s your digital business card.

Take advantage of local resources

Your city and state are proud of their local businesses and often provide resources, funding, and business-related classes to help grow the local economy. Check out your regional chamber of commerce, as well as your city’s official website to explore the available local resources and advocates in your area.

Remember, staying connected is easier when you’re a part of a network like Veem. Check out our resources section for helpful solutions.

Staff accordingly

Fliers, sales, and lots of customers don’t mean much if customer service is lacking. Make a statement with the excellent customer care your company provides. Nothing can hurt a small business like poor service. Be prepared with an appropriate number of help this Small Business Saturday.

Shine online

Establish a web presence and take advantage of social media. Follow your business neighbors online and like and share their posts. This is one way to make connections, and you can expect to receive some online support in response. Some relevant hashtags include:
#SmallBizSat, #ShopSmall, #SmallBusinessSaturday, #DineSmall, #ShopLocal, #buylocal, #shopsmallbusiness, #supportsmallbusiness, #smallbusinesssaturdayUS, #supportlocal.

Join the Veem Network

Veem was founded on the promise to help small businesses grow locally and globally by fixing a much outdated payments process. We’re continuing our mission to promote small businesses by spreading the word about exciting and innovative teams, helpful resources, and the best business hubs in the US.

Join us in our mission to drive small business growth. Remember to buy local November 30th.

See how Veem can make your business payments simple. LEARN MORE

* This blog provides general information and discussion about global business payments and related subjects. The content provided in this blog ("Content”), should not be construed as and is not intended to constitute financial, legal or tax advice. You should seek the advice of professionals prior to acting upon any information contained in the Content. All Content is provided strictly “as is” and we make no warranty or representation of any kind regarding the Content.