“Small-business owners contribute to their communities all year long by creating jobs, providing unparalleled products and services, and keeping communities healthy and vibrant,” said National Federation of Independent Business President and CEO Dan Danner. “Small Business Saturday is an opportunity for each of us to give back, to invest some of our hard-earned dollars back into our local and community businesses, and keep Main Street America strong. I encourage every American to shop small this coming Saturday.”
American Express, which started Small Business Saturday in part to help small retailers during the economic downturn; the NFIB; and the federal Small Business Administration estimate that nearly 70 million customers spent $5.5 billion nationwide last year at small, independent stores during the event.
Before the recession, a small-scale study in the Chicago neighborhood of Andersonville found that more than two-thirds of the money customers spent with local companies remained in the Chicago economy; 57 cents of every dollar spent at chain stores left the Chicago area, according to Civic Economics, economic development consultants with offices in Chicago and Austin.