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Exactly what is Small Business Saturday?

RICHMOND, Va. (WTVR)—Sandwiched in between Black Friday and Cyber Monday is a less popular consumer ‘holiday’ known as Small Business Saturday.

It’s an event meant to get people thinking out of the box; big box store that is (and you’re less likely to get trampled). This year, it fell on November 24th. The event first launched in 2010, with American Express as a sponsor. Now it’s been dubbed Black Saturday.

The finance company said that last year over 100 million people participated. Last year, President Obama even visited an independent bookstore near the White House to show his support for the event.

Gov. Bob McDonnell also jumped on board with the event last year, with a proclamation that recognized the small business shopping day throughout the Commonwealth.

It’s a concept that proud Richmond, also known as RVA, is likely to support, especially with such a bounty of local shops in the Greater Richmond metro area and hubs like the Carytown “Mile of Style.”

Last year Carytown merchants offered a lot of discounts to tempt Richmonders into their stores.

The motivation behind the day is simple; small businesses have a big economic impact locally.

The U.S. Small Business Administration, an advocacy group, said that in 2011 small businesses paid out 44 percent of total U.S. private payroll. The group also said that small business created 65 percent of the new jobs created in the 17-year period that ended in 2009.

Additionally, 78 percent of small business owners believe that there is a growing appreciation of small business in the nation. So make sure not to prove them wrong.

The SBS website sums it up pretty nicely:

“By shopping or dining at a small business this November 24th, you’re showing your support for all the small communities around you. This means you could be helping local entrepreneurs offer more jobs, which in turn invigorate the economy.”

Click here for more information and to see what local shops participated.

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