Commissioner Gregg Bishop of the New York City Department of Small Business Services today released the following statement ahead of Small Business Saturday on Saturday, November 26, 2016:
This Saturday is Small Business Saturday and I encourage all holiday shoppers to kick off the season by patronizing New Yorks local, independent small businesses. Small businesses anchor our neighborhoods, generate billions of dollars in economic activity, and employ nearly 1.7 million New Yorkers. Think outside the big box this holiday season and keep it local for your holiday shopping needs.
Holiday Shopping And Small Business Facts
· The National Retail Federation estimates that consumers will spend over $655 billion this holiday season.
· On Small Business Saturday alone, consumers are expected to spend $14.3 billion at small, independent businesses.
· Holiday shopping can account for 20% to 30% of small businesses annual sales.
· Retailers are expected to add nearly 700,000 seasonal workers during the holidays.
· There are over 250,000 small businesses across New York City, employing nearly 1.7 million New Yorkers.
· Nearly half of New York Citys small businesses are owned by immigrant New Yorkers despite only 37% of the citys population being foreign-born.
And for those New Yorkers who might want to take a break from Christmas shopping at major department stores this weekend, there will be a Small Business Saturday walking tour this Saturday in the Clinton Hill section of Brooklyn. Participants will have the opportunity to visit local businesses and learn about the value of shopping local. The tour begins at 11:00 a.m. at the Academy Restaurant on Lafayette Avenue in Brooklyn.