Small Business Saturday 2024: All You Need to Know

When small businesses come together, good things happen. In events like Small Business Saturday, buyers, sellers, and local economies all benefit.

Techopedia talked to experts and small business owners to understand why Small Business Saturday is important and how to make the most of it.

What is Small Business Saturday, and when is it? Here is everything you need to know.

Table of Contents Table of Contents

1. Key Takeaways
2. What is Small Business Saturday?
3. When & Where is Small Business Saturday?
4. Why Small Business Saturday Matters
5. Yearly Events Small Business Can Leverage in the U.S.
6. The Bottom Line
7. FAQs
8. References

Show Full Guide

Table of Contents

1. Key Takeaways
2. What is Small Business Saturday?
3. When & Where is Small Business Saturday?
Show Full Guide
4. Why Small Business Saturday Matters
5. Yearly Events Small Business Can Leverage in the U.S.
6. The Bottom Line
7. FAQs
8. References

What is Small Business Saturday?

Founded by American Express in 2010 and co-sponsored by the U.S. government since 2011, Small Business Saturday is held each November and is all about keeping dollars in the local community.

In 2023, thirteen years after its first annual event, 32 million independent businesses benefited from Small Business Saturday, generating about $17 billion.

It is worth remembering that, in the U.S., small businesses generate over 40% of the country’s Gross Domestic Product (GDP) while creating the majority of jobs compared to medium and large companies.

We asked Gerry Poirier, CEO and Founder at AngeLink, a free fundraising small business-friendly platform built and powered by women, whether events like Small Business Saturday help small shops.

Gerry said:

“Absolutely! Events like Small Business Saturday can play a significant role in helping small businesses by increasing visibility, driving foot traffic, and creating opportunities for local entrepreneurs to connect with customers.”

Poirier explained that Small Business Saturday is a day that encourages consumers to shop locally, and it shines a spotlight on the unique offerings of small businesses, many of which are the heart of our communities.

“For a small business, it’s a chance to attract new customers, engage with the local community, and differentiate themselves from larger, corporate competitors,” Poirier said.

When & Where is Small Business Saturday?

Small Business Saturday takes place on the Saturday after Thanksgiving every year and takes place all across the entire country. In 2024, Small Business Saturday is on Saturday, November 30.

For those who want to look for shops near where they live, the American Express 15th Small Business Saturday Small Shop map is a useful tool.

Small businesses across the U.S. can participate and stand out by creating special deals, unique events, discounts, and much more. The event is not only held in small business physical stores across America, but online shopping for Small Business Saturdays is becoming a big part of the event as well.

A report found that 86% of customers preferred in-store purchases on Small Business Saturday last year in 2023 — although more than half (53%) shopped online during the event.

Poirier from AngeLink spoke directly to small business owners about the trend of increased online sales.

“Don’t forget about your online presence — if your business has an e-commerce platform, Small Business Saturday is a great time to run promotions or offer discounts that attract customers who may not be able to shop locally in person,” Poirier said.

Why Small Business Saturday Matters

As mentioned, small businesses are a main pillar of the economy and society. The 2022 Small Business Economic Impact Study found that if every Gen Z and Millennial shopper spent $10 on a small business on Small Business Saturday, it would support $2 billion in local economic activity throughout the U.S.

The study revealed that a significant portion of money spent at small businesses remains within the local community. Specifically, $0.68 of every dollar spent at a U.S. small business stays local, contributing to economic growth and job creation.

Moreover, this spending generates an additional $0.48 per dollar in local business activity as employees and businesses purchase goods and services from other local businesses.

Techopedia talked to small business owner Clay Carpenter, owner of DodoTees.com, to get a feel of the small business owner perspective for this event.

“We are always looking to reach new audiences,” Carpenter said. “Events like Small Business Saturday have the power to put our product in front of new eyes.”

We asked Carpenter what strategies small businesses should adopt for the November event.

“It’s cupcakes vs. cakes — break down the issue into cupcake-sized tasks versus trying to solve the whole problem,” Carpenter said. “By having manageable bite-size pieces of work to do, I remove the stress of the overall vision.”

Besides breaking big tasks into smaller ones, Carpenter also shared some enthusiastic, hands-on, take-action pointers.

“I am a big fan of the ‘fire-ready-aim’ approach. Start putting the pieces together today. That does not mean that you have to launch today, but rather to start figuring out the pieces.”

Carpenter said that extensive planning never trumps hands-on experience and iteration.

“Adapting and adjusting based on results allows for a refined goal based on real knowledge vs idealized outcomes,” Carpenter said.

So there you have it: small business owners should not overcomplicate things, take cupcakes over cakes, and take action today with what they have.

Yearly Events Small Business Can Leverage in the U.S.

Beyond Small Business Saturday, U.S. small businesses can capitalize on various events to maximize sales. Reports reveal small and medium businesses make 50% of their total annual sales during the holiday season, which starts in October, picks up speed in Thanksgiving, and ends after New Year.

Therefore, holiday season events like Black Friday, Thanksgiving, Christmas, and New Year’s offer prime opportunities for small businesses.

Other events that small business owners may benefit from include the National Small Business Week (NSBW) in April, which kicks off the National Small Business Month, and the Small Business Expo — America’s largest small business conferences, tradeshows, networking, and educational events.

However, in the past years, other types of events have become extremely popular and mainstream.

Greg Zakowicz, Sr. Ecommerce Expert at Omnisend, a company helping small businesses turn the madness of marketing for big events into something simple, spoke to us about these “new” events and how they are overshadowing traditional ones.

“Online events such as Black Friday and Cyber Monday have morphed from standalone days into a single, week-long-plus sales event,” Zakowicz said.

Zakowicz explained that these events are so successful that they have now become Black Friday Week or Cyber Weekend.

For those who want to stay away from the noise of big events and want to go truly local, events such as farmers’ markets and festivals can also provide a great platform to connect with the community and sell products directly to consumers.

The Bottom Line

We can talk about inflation, interest rates, credit, unemployment, and market performance all day and night long, but no one of those metrics paints as clear a picture of a healthy and strong economic activity as the small business sector.

The thriving small business sector is an organic and unmanipulated barometer of how well a country is doing.

When small businesses flourish, they stimulate economic growth, naturally lowering inflation without government intervention. Moreover, a thriving small business ecosystem fosters socioeconomic progress, creates jobs and competition, and drives crazy wild innovation.

This Small Business Saturday, if you go shopping, keep it local, keep it real, and keep your dollars inside your community.

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