The City of Salem, Virginia, is proud to declare November 25, 2023 as Small Business Saturday. This day is an opportunity to celebrate the contributions of local small businesses to our economy and community. Small businesses represent 99.7% of firms with paid employees in the United States, responsible for 62.7% of net new jobs created since 1995, and employ 46.4% of employees in the private sector.
In addition to their economic impact, small businesses also contribute to the vibrancy and diversity of our communities. Sixty-eight cents of every dollar spent at a small business stays in the local community, which helps to support local services and initiatives. Furthermore, every dollar spent at small businesses creates an additional 48 cents in local business activity due to employees and local businesses purchasing local goods and services.
Small Business Saturday has become increasingly popular among consumers who want to support their local communities while also shopping for holiday gifts. In fact, seventy-two percent of consumers reported that Small Business Saturday 2022 made them want to shop and dine at small, independently-owned retailers and restaurants all year long.
The City of Salem supports the growth and success of small businesses through advocacy groups and public and private organizations that have endorsed Small Business Saturday as a way to boost the local economy and preserve communities across the country. We urge residents to support small businesses on Small Business Saturday by shopping locally throughout the year. By doing so, we can help create a more sustainable future for our community’s economy and preserve its unique character for generations to come.
IN WITNESS WHEREOF,
Mayor Renée Ferris Turk
City of Salem