LETTER TO THE EDITOR
Before the trick-ortreaters even make it back home, big-box stores flood mailboxes and inboxes with Black Friday ads.
But the big box stores aren’t the only place to find a good bargain. Small Business Saturday, the day after Black Friday, offers shoppers an opportunity to find great quality items at a competitive price and invest in their community.
Small Business Saturday has become a great way to kick off the holiday season. What began 15 years ago as a way to promote small businesses recovering from the Great Recession, has blossomed into one of the busiest shopping days of the year. Last year, shoppers spent roughly $22 billion at their local businesses.
The holiday season is a time to celebrate and express gratitude. Here in the Lone Star State, small business owners are particularly grateful for how elected officials in Washington, D.C., and in Austin have stood up for Main Street.
Back in July, Congress and President Trump made the 20% Small Business Tax Deduction permanent, averting a major tax hike at the end of the year. Then, in November, voters overwhelmingly supported Prop 9 to raise the inventory tax exemption, which will result in an annual combined tax savings of over $500 million.
These federal and state tax victories will help our Texas small business owners navigate an uncertain economic environment. Between rising prices, a tight labor market, and a decline in sales, small businesses across the country are heading into the holiday season with a little less cheer.
According to a recent NFIB survey, optimism among small business owners declined in October, as job creators reported reduced sales and profits. And while many small businesses want to hire, filling open positions is becoming nearly impossible.
On Small Business Saturday and every day of the year, shopping small plays a big role in supporting our communities. In Texas, small businesses are the beating heart of our economy, accounting for more than 99 percent of businesses in the state and employing 5.1 million working Texans, according to the Small Business Administration.
When you stop in at your favorite coffee shop, locally-owned boutique, or family-run hardware store, your dollars go further. Nearly 68 cents of every dollar spent at a small business stays within the community where it’s spent and creates another 50 cents in local business activity.
This holiday season, don’t forget to shop small. Our local businesses keep our communities strong and our economy growing. When Main Street prospers, we all prosper.
Jeff Burdett State Director of the National Federation of Independent Business in Texas.
