The City of Salem, Virginia is proud to declare November 25, 2023 as Small Business Saturday. This day celebrates the contributions of local small businesses to the community and the economy. According to the U.S. Small Business Administration, small businesses represent 99.7% of firms with paid employees, responsible for 62.7% of net new jobs created since 1995, and employ 46.4% of employees in the private sector in the United States.
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. Additionally, sixty-eight cents of every dollar spent at a small business stays in the local community. 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 local businesses that create jobs, boost the local economy, and preserve communities. Advocacy groups, as well as public and private organizations, across the country have endorsed the Saturday after Thanksgiving as Small Business Saturday. This proclamation serves as a reminder for residents to support small businesses throughout the year by shopping small on Small Business Saturday and beyond