Support a Business for Small Business Saturday

Amid the coronavirus pandemic, it is more important now than ever before to support the small, local businesses that help stimulate the economy this holiday season.

It is no secret that small business that small businesses are the engine that drives the U.S. economy through promoting competition and creating new jobs. According to the The United States’s 2018 Small Business Profile, 1.9 million new jobs were created during the latest year studied. The 30.2 million small businesses in the United States employs 47.5% of the countries private workforce. According to the Census Bureau’s Annual Survey of Entrepreneurs from the U.S. Small Business Administration, of those 30.2 million small businesses, over 1 million of those businesses are owned by minorities. Approximately 99.9% of minority businesses are considered small businesses. The pandemic has caused many small businesses to go under, creating an economic crisis. This past Friday, Black Friday has seen many large retail chains such as Walmart, Target, Amazon, Best Buy, and other large conglomerates like them, see thousands of people come out in droves despite the current coronavirus pandemic. However, because many small businesses are often ignored during the Black Friday and Cyber Monday shopping events, Thomas M. Menino, longtime Boston Mayor, partnered with American Express amidst the 2010 recession to encourage consumers to patronize small business the day after Black Friday.

The day is officially recognized as, “Small Business Saturday.”

Small businesses tend to have longer-lasting effects on their local communities which is why it is important to support them at all costs. Supporting any small business this Saturday is very beneficial to the community, however, research has found that minority businesses, more specifically in the Black community, has been more harshly affected during the pandemic, so consider supporting small Black-owned businesses during this holiday season, not just on “Small Business Saturday.”

Having trouble finding Black-owned businesses? Refer to my last newsletter where I provide a detailed guide on how to find specific businesses.

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