by Ashley Ranslow, New York state director of the National Federation of Independent Business
New York’s small businesses have had it rough the past few years. They managed to get through the pandemic only to contend with a jump in insurance costs, the highest possible state Unemployment Insurance taxes, a lack of childcare options for employees, rising utility bills, and inflation that’s driving up the cost of everything from raw materials to wrapping paper.
As the state director of the National Federation of Independent Business (NFIB), I’m thankful for these small businesses. I’m thankful for their drive and stubbornness, their determination to keep the lights on and keep people working.
Small business is the heart and soul of New York’s economy, which is why I believe it’s important that we support local retailers, restaurants, and other Main Street businesses by shopping small on Small Business Saturday. Small Business Saturday, the Saturday after Thanksgiving, is a day to celebrate small businesses and everything they do throughout the year to support their communities.
It feels like Small Business Saturday has been around forever, but it began in 2010 as part of a plan to help small businesses recover from the Great Recession. It quickly took on a life of its own. Last year, Americans spent $17.9 billion on Small Business Saturday, according to a survey facilitated by NFIB.
Best of all, 72 percent of people surveyed said Small Business Saturday makes them want to support local shops and restaurants throughout the year.
We need to support these Main Street businesses because they’re facing the same challenges as the larger, better-funded national chains. Small business owners are hanging in there, but without our support, some of them might not be around next Christmas, and we can’t afford to let that happen.
Over 99 percent of businesses in the state are considered small businesses. Main Street truly is the engine that powers New York’s economy. And while big corporations get most of the headlines, small businesses employ 43 percent of the state’s private-sector workforce.
When we shop small and support local businesses, we’re helping the family businesses that support our schools and civic organizations and hold our communities together.
Shopping small also makes our communities strong. An earlier NFIB-sanctioned survey found that 67 cents of every dollar spent at a small business stays in the community. What’s more, every dollar spent at a small business creates an additional 50 cents in local business activity as employers and their employees shop at other local businesses.
That’s why I’m encouraging everyone to shop small on Saturday, Nov. 25. Because when we help small businesses, we help our community and everyone who lives, works, and plays here.
