As Mayor of Salem, Virginia, I am pleased to proclaim November 25, 2023 as Small Business Saturday in our city. Our community values the contributions that local small businesses make to the economy and our community. According to the US Small Business Administration, small businesses account for 99.7% of all firms with paid employees and are responsible for creating 62.7% of net new jobs since 1995. They also employ 46.4% of private sector workers in the United States.
One of the key benefits of supporting small businesses is that they keep more money in the local community. Sixty-eight cents of every dollar spent at a small business stays within the local area, while an additional 48 cents is generated in local business activity as employees and other businesses purchase goods and services from those same businesses. This helps to support other local businesses and create a thriving community economy.
In addition to their economic benefits, small businesses add character and charm to our communities. They provide unique products and services that often cannot be found at larger chain stores, and they help to preserve neighborhoods by providing jobs and fostering a sense of community pride.
I encourage residents of Salem and communities across the country to support small businesses on Small Business Saturday by shopping at local retailers and restaurants on this special day, as well as throughout the year. By choosing to shop small, we can help to create vibrant neighborhoods, support our local economy, and make a positive impact on our communities for years to come.