Small Business Saturday has become a cherished tradition, showcasing the vital role of small businesses in local economies. On this U.S. Chamber of Commerce Small Business Update, Tom Sullivan, Vice President of Small Business Policy at the U.S. Chamber of Commerce, joins us to discuss the origins, economic impact, and opportunities tied to this annual shopping event. Discover how your support this Saturday can strengthen communities and fuel small business success.
Small Business Saturday, now a hallmark of the Thanksgiving weekend, is more than just a shopping day—it’s a lifeline for small businesses across the country. Tom Sullivan highlights how this initiative, supported by local chambers of commerce and organizations like American Express, helps boost year-end sales and attract new customers.
For small retailers, the stakes are high: 60% report that the weekend is critical to their annual financial performance. Sullivan emphasizes the broader ripple effect, noting that many businesses see increased customer loyalty and better first-quarter results thanks to connections made during the event.
American Express further amplifies the impact by donating $1 to a U.S. Chamber of Commerce disaster relief fund for every swipe made on Small Business Saturday. Last year, there were 4.2 million swipes, and Sullivan hopes to double that this year.
To maximize their success, 90% of shoppers surveyed look for deals and discounts, a trend small businesses are well-equipped to meet. Consumers can also leverage tools like online maps and directories to find participating small businesses locally and on platforms like Amazon.
Nevertheless, Sullivan predicts a robust holiday season and urges consumers to shop local and shop small, not just for bargains but to strengthen their communities.
“About 60% of small retailers view this weekend as chronologically critical. If they don’t do well, their entire year doesn’t do well.”– Tom Sullivan
