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Research Supports Shopping Small this Holiday Season

Friday, December 13, 2019

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Community members are encouraged to spend the day visiting and supporting small businesses. The National Federation of Businesses has data demonstrating just how important it is to shop small during the holiday season. For example, from 2010 – 2018, Small Business Saturday alone generated $103 billion in sales for small businesses, with 2018 setting a record of $17.8 billion in sales (National Federation of Independent Business, 2019). In addition, the majority of these businesses reported that the holiday season represented a significant portion of their annual sales. 

Additional Research

Local holiday shopping generates billions in sales, but what happens to those dollars? According to The Small Business Economic Impact Study, conducted by American Express in 2018, those dollars are going to support other local businesses and to create jobs. They found that for every dollar spent at a local businesses –

 

  • 67 cents stays within the local economy
  • 50 cents is created in local business activity (outside of that particular business)

 

They also found that for every ten jobs created at a small business, an additional seven jobs are supported within the community. That is significant and demonstrates the linkage between what happens at the local sports shop, grocer and restaurant with jobs being created in other industries. 

Shop Small in Springfield 

Small Business Saturday is an excellent time to head downtown and to support the small businesses who add character to our community. Rather than purchasing gifts online or at a big retailer, we encourage community members to visit local shops and check their first. This simple decision, during the holidays and throughout the year, will help local businesses to thrive. As the research indicates, this can help to create jobs in Springfield and strengthen our overall economy. As a community member - you have this power!

References

 

American Express. (2018, November 13). Small Business Economic Impact Study. Retrieved from American Express: https://about.americanexpress.com/press-release/another-reason-to-shop-small-on-small-business-saturday

National Federation of Independent Business. (2019, November 18). The Influence of Small Business Saturday. Retrieved from National Federation of Independent Business: https://www.nfib.com/content/news/alabama/the-influence-of-small-business-saturday/

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Ohio is One of the Top 10 Freight Destinations

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No Corporate Income or Profits Tax

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Ohio Ranks No. 9 in Competitive Labor Environment

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7th Largest Economy in the U.S., 21st Worldwide

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Ohio Has the Fourth Largest Interstate Highway System

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