Business leaders across West Virginia invite all to celebrate Small Business Saturday
November 26, 2024
Walmart might have everything you need, but a local grocery store or retail shop will be owned and managed by someone you know.
To celebrate small, locally owned businesses in the community, Small Business Saturday is held two days after Thanksgiving each year. This year, the holiday will fall on Nov. 30.
“We are by and large a small business state,” said West Virginia Chamber of Commerce President Steve Roberts.
The U.S. Small Business Administration classifies any company with fewer than 500 employees as a small business. Of the roughly 35,000 active businesses in West Virginia, about 33,000 have fewer than 100 employees.
Many West Virginians get their first job or even retire from small businesses as they make up the majority of the West Virginian economy. They also provide many of the goods and services needed in their communities.
Small businesses include local private practice medical and legal offices, groceries, restaurants, auto repair shops, pharmacies, and venues for crafters to display their trades.
Because of the high percentage of small businesses in West Virginia, the importance of supporting small businesses is not lost on many.
“Small Business Saturday, and the entire weekend following Thanksgiving, is the most important time of the year for small businesses. It is a make-or-break season,” said Tom Sullivan, vice president of small business policy with the U.S. Chamber of Commerce.
This year, the stakes are even higher as small businesses have been struggling with inflation just like consumers.
In order to provide discounts to consumers and meet their own needs, small business owners will look to sell higher volumes of goods.
However, forecasts predict spending this holiday season will be at the same level or below what was spent last year, Sullivan said.
But due to the sensitivity West Virginians should have for small business, Sullivan said he predicts West Virginia could top the nation in the percentage of sales to small business owners.
“The true spirit of small business and community comes out 100-fold during the holiday shopping season. Every dollar spent at a small business really matters,” Sullivan said.
Many small businesses in West Virginia have storied histories going back over 100 years. But younger small businesses have a tougher time, especially while establishing themselves, their capital and their clientele during their formative years.
Small businesses, even young ones, remain flexible by not being owned by a a multinational conglomerate.
When the phone rings, a local resident answers and is usually happy to accommodate requests that might fall outside of their normal practices.
“I know of cases where people have needed something at the last minute and they’ve been able to call their local small business and get the store reopened or get someone to do something special for them,” Roberts said.
Consumers make their choice to patronize particular businesses based on product selection, prices and convenience. But, Roberts hopes consumers also consider patronizing locally owned business on principle alone.
“They can’t survive if people don’t patronize them. They rely on the patronage and goodwill of their customers,” he said.
Story by Damian Phillips, State Journal