- Last Updated on 07:11 AM 11/23/12
- BY Special to the Gazette
Virginia shoppers are being encouraged to participate in the third annual Small Business Saturday which will be taking place this year Saturday.
Small Business Saturday, which falls between Black Friday and Cyber Monday, supports the national movement to drive consumers to shop at local, independently owned businesses during the heaviest shopping weekend of the year.
“I hope that all Virginians will participate in Small Business Saturday,” said Lt. Gov. Bill Bolling. “Small businesses are the heart of Virginia’s economy. They make up 98 percent of all businesses in Virginia. We should do everything possible to lend them a helping hand in this uncertain economy. Please take this opportunity over the holiday weekend to patronize small shops, restaurants and service providers that help Virginia’s economy grow.”
According to the inaugural Small Business Saturday Insights Survey, released by the National Federation of Independent Businesses (NFIB) and American Express, 46 percent of independent merchants plan to incorporate Small Business Saturday as part of their holiday strategy, and the majority (67 percent) of them say they will offer discounts on Nov. 24.
Small businesses are critical to the nation’s overall economy. Over the past two decades, small businesses have generated 65 percent of net new jobs. Small businesses currently pay 44 percent of total U.S. private payroll.
Small Business Saturday was created in 2010 in response to small business owners’ most pressing need: more customers. In 2011, more than 2.7 million Facebook users, 230 public and private organizations, 75 corporations and elected officials in all 50 states and Washington D.C. declared their support for SBS.
Last year, more than 500,000 small business owners leveraged an online tool or promotional materials for SBS and 15,000 businesses signed up for free Facebook advertising to promote their products and services in the run up to SBS. American Express is the founding partner of SBS.