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Small Business Saturday 2023

Small Business Saturday 2023

2023 Small Business Saturday

The 2023 Small Business Saturday falls on November 25th. Started by American Express in 2010 in response to the Great Recession, Small Business Saturday is a reminder to celebrate and support small local businesses. The Senate first passed a resolution in 2011, and in 2015 the event officially became co-sponsored by the SBA.

Small Business Saturday – By the Numbers

The SBA 2023 Small Business Profile reports that there are 33.3 million small businesses in America. These firms employed 61.6 million people (45.9% of U.S. employees). Thanksgiving weekend, from Black Friday through Cyber Monday is historically the largest shopping weekend of the year. A National Retail Federation survey projects 182 million consumers plan to shop Thanksgiving holiday weekend in 2023, an increase of 15.7 million from last year.

Based on the American Express and National Federation of Independent Business (NFIB) 2022 Small Business Saturday Consumer Insights Survey, an estimated at $17.9 billion in sales by consumers at independent retailers and restaurants. Attributed to the buzz around Small Business Saturday, 72% of respondents reported their desire to continue supporting local shopping and dining establishments year-round.

Holiday sales represent a large financial infusion to the livelihood of small businesses. According to the Constant Contact holiday report, 75% of retail and ecommerce small businesses count on holiday sales to meet annual revenue goals. Despite the economic hardships of many American consumers, the Deloitte 2023 Black Friday-Cyber Monday survey and 2023 Holiday retail survey reports that consumers plan to spend an average of 14% more than they did last year. The report states that consumers are factoring in inflation and looking for promotions to participate in Black Friday-Cyber Monday week.

Marketing Small Business Saturday

American Express supports small businesses owners on Small Business Saturday and throughout the year through their Shop Small initiative. American Express provides a variety of Shop Small® marketing materials to help small businesses reach shoppers on Small Business Saturday. Through their Shop Small® Resource Hub, small businesses can and can add or update their listing on the Shop Small Map, based on eligibility.

Additional resources for making the most out of Small Business Saturday are available from various sources:

Be sure to visit SBDCNet for resources on adapting your business for COVID-19selling online for small business, and small business reopening guide.

About the SBDC National Blog

The SBDC National Information Clearinghouse (SBDCNet) is the official business research and support program for the national SBDC network. For over 20 years, the SBDCNet has been dedicated to meeting the information and resource needs of the small business community and working in partnership with SBDCs to ensure their clients’ success. The SBDC National Blog is a publication of SBDCNet that features small business news, stories and more. If you have a small business resource or SBDC client success story you think would make a great feature, please Contact Us.

Additional Small Business Resources

Already in business or thinking about starting your own small business? Check out our various small business resources:

Remember, you can also receive free professional business advice and free or low-cost business training from your local Small Business Development Center!

Photo by Mike Petrucci on Unsplash

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