Carmel Convo
We all know about Black Friday, the day after Thanksgiving when you camp outside a store for discounts, leading to customers body slamming each other over a TV in some cities. You might know about Cyber Monday, the online shopping holiday on the Monday after Thanksgiving.
But more important than those two might be Small Business Saturday, an event that falls on the Saturday after Thanksgiving when consumers are encouraged to spend their dollars locally.
American Express came up with the day in 2010 and it’s been an opportunity for small mom-and-pop businesses to advertise deals.
In 2017, 108 million shoppers spend $12.9 billion on Small Business Saturday at independently-owned businesses, according to the National Federation of Independent Business.
Some cities like Carmel are using it as an economic development tool. The Carmel Arts & Design District Facebook page is posting discounts and deals from local business to assist in their marketing.
Even arts organizations are getting in on it. Main Street Productions of Westfield is running a coupon in this issue of the Hamilton County Reporter.
“A community theater, while being a not-for-profit endeavor, should be considered as a small business lending it’s presence to the community it serves,” said Jan Jamison, vice president of arts at the theater.
Why is this all important? Because small businesses help make a city great.
I’ve never had anyone say they chose to live in a neighborhood because of its proximity to fast food chain restaurants. People want small unique stores and vendors that offer a personal touch.
For those of you that are concerned about debt or the economy, keep in mind that small businesses reinvest a greater percentage of their profits back into the community, whether it’s through donating to local schools or non-profits or purchasing supplies from fellow local small businesses. More of their taxes go back into the city’s coffers instead of being sent out of state.
Indeed, the economic impact of small businesses can’t be overstated. They were key in the nation’s recovery from the recent recession. From the middle of 2009 to the middle of 2013, 60 percent of all jobs created came from small businesses. Depending on how you measure, they make up 60 to 80 percent of all U.S. jobs.
Yet, they are vulnerable. Only two-thirds of all small businesses survive two years, half will survive five years and only a third will survive a decade in operation.
So please support a locally owned small business this Small Business Saturday.
Adam Aasen is a co-owner of Donatello’s Italian Restaurant and a former journalist who lives in Carmel. His column “Carmel Convo” will appear twice each month in The Reporter.