RENÉE FERRIS TURK, Mayor of the City of Salem, Commonwealth of Virginia, has declared November 25, 2023 as Small Business Saturday in the City of Salem. The city is celebrating local small businesses and their contributions to the local economy and community.
Small businesses represent 99.7% of firms with paid employees in the United States and are responsible for 62.7% of net new jobs created since 1995. These businesses employ 46.4% of employees in the private sector in the country. Additionally, sixty-eight cents out of every dollar spent at a small business stays in the local community, while every dollar spent creates an additional forty-eight cents in local business activity due to employees and businesses purchasing goods and services locally.
Seventy-two percent of consumers surveyed reported that Small Business Saturday 2022 made them want to shop and dine at small, independently-owned retailers and restaurants all year long. Advocacy groups and public and private organizations across the country have endorsed Small Business Saturday as a way to support local businesses that create jobs, boost economies, and preserve communities.
The City of Salem supports these initiatives by urging residents to support small businesses on Small Business Saturday and throughout the year by shopping small. In doing so, we can help preserve our communities’ unique character while also benefiting from their economic contributions. As we celebrate this special day dedicated to supporting small businesses, let us take a moment to appreciate their importance in our lives and our communities.