NEW YORK - This Saturday marks the 11th anniversary of what’s called Small Business Saturday, a day mom and pop will shop with them and not at the big box stores. But this year, for many, their livelihoods are depending on it.
So this year, the Small Business Administration is urging consumers to spend their money holiday shopping this Saturday with local businesses and restaurants.
“It doesn’t matter if you’re a Madison Avenue boutique, a bodega, or a dry cleaner, if it's a small business, we are all holding on with our fingernails,” said Mi Jong Lee, the owner of Emmelle Boutique in the X.
Lee, whose boutique makes clothes for business women and for special events like fundraisers and business gatherings says that her business has plummeted by roughly 85% during the pandemic, and she’s hoping that Small Business Saturday will draw some customers.
“We know in the tri-state metro area alone, tens of thousands of small businesses have either gone out of business or are approaching that point,” said Steve Bulger of the SBA.
Small businesses are an important part of the economy, with 2 out of 3 new jobs created by small businesses. Should they go out of business, it could be a massive hit to the economy.
“You have millions of people employed at small businesses,” Bulger said. “Their families depend on those businesses to pay them.”
Small Business Saturday is November 28.
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