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Join Us in Supporting 2016 Small Business Saturday

Sunday, November 13, 2016/Categories: Community

Think Big Shop Small Business SignNovember 26 marks Small Business Saturday, a day to support local businesses that create jobs, boost the economy and preserve neighborhoods across central Ohio and the country. Nestled between Black Friday (that benefits many big box retailers) and Cyber Monday (where it’s all about online retailers), Small Business Saturday was created by American Express six years ago in response to small business owners’ most pressing need – getting more customers during the busy holiday season.

Just in case you’re not convinced to #ShopSmall this Thanksgiving weekend, here are ten compelling reasons why you should:

1) Small businesses provide 55% of all jobs and 66% of all net new jobs since the 1970s.

2) While overall sales growth is up for all retailers, sales for companies with less than $5 million in revenue is down in recent years, so Small Business Saturday can provide smaller businesses with a much-needed boost.

3) 77% of shoppers who are aware of Small Business Saturday plan to shop next weekend. You're already out. Why not visit a small business?

4) There are 23 million small businesses in the United States, so you have a wide range of options to choose from, whether you live in Gahanna or Grove City, Dublin or Downtown or many towns in between.

5) Half of all new establishments survive five years or more and only one-third survive ten years or more -- so don’t wait to support your local bookstore, bakery, or guitar store.

6) The average cost of filling a 500 foot, mid-sized retail store nets out to $20,000, so the day-to-day costs to keep the items you care about is significant above and beyond startup costs. Want your corner book store to keep stocking your favorites? Support them this weekend to encourage them to do so.

7) The fastest growing sectors for freelance businesses includes beauty salons, dry cleaners, and auto repair shops. Consider a local vendor for a treat or a tune-up: Small Business Saturday goes beyond Christmas giving.

8) Although the initiative was started by American Express, Small Business Saturday is payment-agnostic, so whether you choose cash, check, or credit to purchase your merchandise, your neighborhood will benefit.

9) Small businesses are exceptional places to work, and often pave the way with trends adopted at larger institutions, as well.

10) On the first Small Business Saturday, revenues for SMBs grew 28%, so what may seem like a small expense to you has a huge impact on a business owner.

Heartland Bank recognizes the importance of supporting small businesses to create wealth and opportunity in our communities. Let’s all do our part to support Americas small businesses as they continue to strengthen our economy and create jobs. Be part of Small Business Saturday 2016 and Shop Local. We encourage you to Bank Local, too.

Top 10 Reasons provided by Katie Davis in a HubSpot blog, 11/13

 

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