MADISON (Nov. 21, 2022) — Small Business Saturday is Nov. 26, the Saturday after Thanksgiving. While small business owners appreciate a day that is dedicated to mom-and-pop shops across Wisconsin, they also want to remind consumers that they should support small business every day of the year – especially after the mandated shutdowns from the COVID-19 pandemic, followed by supply chain challenges, inflation, and their biggest problem right now: trouble finding qualified workers.
“Our small business owners got through the worst of the pandemic only to face supply chain issues and inflation that’s driving up the cost of everything they need to run their business,” said Bill G. Smith, NFIB State Director in Wisconsin. “Add on the challenges of finding qualified workers, and many of our small business owners may not make it. Main Street shops and restaurants need customers every day of the year, not just on Small Business Saturday. “Wisconsin’s small business community is the economic engine that drives the local economies throughout our state.”
Small business owners are already struggling. According to a recent NFIB study, labor remains the top concern for our small business owners, with 46% reporting job openings they couldn’t fill. More bad news: NFIB’s small business optimism index remains below the 48-year average thanks to inflation, supply chain issues, and skepticism of the economic future.
Small Business Saturday began in 2010 as a way to help local stores and restaurants recover from the Great Recession and quickly grew into a Thanksgiving weekend tradition. Last year, spending at independent shops and restaurants on Small Business Saturday reached an estimated $23.3 billion, up 18% from $19.8 billion the year before and a substantial increase from the $19.6 billion spent in 2019, according to a survey by American Express and NFIB.