As shoppers hit the stores to fill their holiday wish lists, consider shopping small to make a big impact. In contrast to Black Friday, which drives shoppers to large retailers, Small Business Saturday® on November 26 encourages people to support businesses that are locally owned.
Illinois has 1.2 million small businesses, or establishments with fewer than 500 employees, and Florida has 2.1 million – according to the U.S. Small Business Administration. More than 98 percent of all employers in both states are small businesses, and most are very small. In fact, 78 percent in Illinois and 80 percent in Florida do not have employees and most employers have fewer than 20.
5 Reasons to Shop Small:
From creating jobs and supporting the families they employ to bettering our communities, here are five reasons to shop Small Business Saturday from the Institute for Local Self-Reliance:
1) Local character and prosperity. Communities that preserve their one-of-a-kind businesses and distinctive character have an economic advantage.
2) Jobs and wages. Locally owned businesses create more jobs locally, and in some sectors, provide better wages.
3) Keep dollars in the local economy. Compared to chain stores, locally owned businesses recycle a much larger share of their revenue back into the local economy.
4) Competition. A marketplace of small businesses is the best way to ensure innovation and low prices over the long-term.
5) Environmental sustainability. Local stores help to sustain vibrant, compact, walkable town centers-which in turn are essential to reducing sprawl, automobile use, habitat loss and pollution.
Busey proudly supports small businesses and entrepreneurs through sound advice – including our monthly Innovative Mornings seminars – and simplified solutions. Visit the Business Resource Center on busey.com for a library of content, tools and tips for navigating today’s business landscape.