Small Business Administrator Linda McMahon touted Friday the economic benefits to the United States of shoppers partaking in “Small Business Saturday.”
After Thanksgiving Thursday and Black Friday comes Small Business Saturday, a day focused on supporting small businesses who compete with big, national, and online stores as Americans head into the Christmas gift-giving season. McMahon has visited nearly 800 businesses in her time heading up the Small Business Administration.
“This Small Business Saturday, I invite shoppers to support the local retailers that make their communities special,” McMahon wrote in a Friday op-ed for Fox News.
“A survey by NFIB [National Federation of Independent Business] found 108 million consumers reported shopping or dining at local businesses on Small Business Saturday in 2017,” said McMahon. “And 90 percent of consumers agreed that Small Business Saturday makes a positive impact on their community.”
McMahon pointed to National Retail Federation forecasts for an over four percent increase in retail sales over the 2018 holiday season. She pointed to a strong U.S. economy, high consumer optimism, record unemployment, and an 18-year consumer confidence high as drivers for the predicted boost. She further gave credit to the Trump tax cuts as one of the contributing factors fueling these milestones.
“Small businesses create two out of three net new jobs in the private sector, and about half of America’s workforce either works for or owns a small business,” wrote McMahon. “These businesses reflect the innovative spirit of our nation and invigorate neighborhoods and cities, making them vibrant places to live, work and raise a family.”