Tuesday, December 3, 2024
Small Business Saturday is Nov. 30. Created in 2010, this annual date is both a celebration and a promotion, dedicated to supporting mom-and-pop businesses and encouraging consumers to shop locally. There are few more significant dates on the calendar to show your support of local enterprises, because whether it’s the central shopping area of one of Long Island’s villages or the multitude of strip malls that dot the Nassau and Suffolk County landscapes, small businesses are the backbone of our communities.
They are more than just storefronts or online shops — they are deeply embedded in the fabric of our towns. They are owned and operated by neighbors, friends and families that have a vested interest in the well-being of their neighborhoods.
Yet despite the critical role they play in the local, regional and national economy, small businesses often struggle to compete against larger stores. As consumers, we must recognize their importance and actively support them to ensure not only their survival, but their success.
Small businesses are significant drivers of local economic activity, making up 99.9 percent of all U.S. businesses and accounting for nearly half of the country’s workforce, according to the U.S. Small Business Administration. Approximately 50 percent of our country’s gross domestic product is created by small businesses.
When you shop at a local boutique or dine at an independently owned restaurant, more of your money stays in the community. Studies show that roughly 67 cents of every dollar spent at a small business remains in the local economy, and every dollar spent at a small business creates an additional 50 cents of local economic activity. This “local multiplier effect” supports other businesses, schools, public services and infrastructure, creating a virtuous cycle of economic growth.
Small businesses also bring diversity and innovation to the marketplace. Unlike big-box stores, which often rely on standardized products and services, small businesses can adapt quickly to the unique needs and preferences of community members. They can experiment with new ideas, foster creativity and offer personalized customer service that large chains simply cannot replicate. This adaptability not only benefits consumers but also encourages healthy competition, pushing more businesses to strive for excellence.
Small businesses enrich our lives by providing a sense of identity and authenticity. Walk down the main street of any village and you’ll find unique shops, eateries and services that reflect the culture, history and personality of the area.
These businesses distinguish one community from another, creating vibrant destinations where people want to live, work and visit.
Shopping at a local store instead of a large retailer, ordering from a family-owned restaurant, and posting positive reviews online are small but meaningful ways to show support. Attending farmers markets, artisan fairs and community events also help small businesses. Voting for your favorite small business for a Herald Long Island Choice Award is another small gesture to acknowledge these shops; you can vote at LIChoiceAwards.com.
Local, state and federal government have and must continue to play a crucial role in fostering an environment in which small businesses can succeed. Small businesses need more tax incentives, affordable loan programs and streamlined regulations to alleviate the burdens their owners face, especially in light of high property taxes, inflation and competition from online retailers. We hope our elected officials embrace creative solutions to ensure that Long Island’s local stores can thrive.
Supporting your favorite small business doesn’t require a big effort — simple actions can have a profound impact. We urge you to shop at your local small businesses not only next Saturday, but every day of the year.
