The U.S. Small Business Administration (SBA) is encouraging shoppers across New York state and the nation to think of local businesses during this weekend’s Small Business Saturday.
The annual event was founded by American Express (NYSE: AXP) and is marking its 15th anniversary in 2024, the SBA said in its announcement.
It also represents the beginning of the SBA’s 2nd annual holiday campaign, the Season of Small Business, the agency said.
“Small Business Saturday has become America’s call to action to support the backbone of our economy and heart of our communities — our small businesses,” SBA Administrator Isabel Casillas Guzman said in the announcement. “America’s incredible entrepreneurs create jobs, drive innovation, and strengthen our communities, shaping the unique character of neighborhoods across America. This year, as we continue to enjoy an unprecedented Small Business Boom, I encourage everyone to Gift Big and Shop Local by supporting local businesses and the millions of hardworking Americans behind them.”
Gift Big, Shop Local is the theme of this year’s Small Business Saturday, the SBA noted.
SBA says it has supported Small Business Saturday since 2011, hoping to help drive consumer spending at independently owned small businesses in the wake of the financial crisis.
The agency cites American Express as indicating the projected total reported spending among U.S. consumers who shopped at independent retailers and restaurants on Small Business Saturday since its founding has reached an estimated $201 billion.