This Small Business Saturday, Americans expected to spend billions

WASHINGTON (SBG) — Saturday marks the eighth annual Small Business day, a holiday designated to supported local businesses across the U.S.

Rapidly growing in popularity, the occasion saw 112 million Americans spend a combined $15.4 billion at independent retailers last year, according to the U.S. Small Business Administration (SBA).

This year, consumers are expected to spend even more at their communities' small businesses.

“Small Business Saturday is about supporting local businesses and creating jobs in communities all across America,” Linda McMahon, Administrator of the U.S. Small Business Administration, said in a statement. “Shopping small this Saturday is the perfect opportunity for Americans to support their local community businesses and promote growth and vitality to America’s booming economy during this holiday season and throughout the coming year.”

“Small businesses are the engine of our national economy," McMahon continued. We want entrepreneurs to feel confident taking a risk on starting or expanding their small businesses.

"Everyone wants businesses to grow and for people to be employed. Shopping small on November 25 supports these men and women who create the foundation for strong, successful small businesses.”

The U.S. is home to about 30 million small businesses, McMahon said. With half of the nation's citizens employed by or owning an independent retailer, the shops are responsible for creating two out of three new jobs.

"Those are pretty powerful and compelling statistics,” McMahon said.

The holiday could carry more significance in 2017 than in years past.

After an unusually severe hurricane season, many of the retailers left hurting the most were small businesses.

"It is especially important that we all support our local small businesses, so on November 25, I implore you to join the millions of other Houston region Texans to 'shop and dine small' to help your local economy prosper," Tim Jeffcoat, director of the SBA Houston District Office, said in a statement. "This is especially relevant now as many local businesses continue to recover from the devastation of Harvey."

In Houston and the 32 counties surrounding, 99.5 percent of all businesses are small businesses, Jeffcoat said. The companies provide 63 percent of all new jobs.

Looking for a participating store in your area? Click here for an interactive map of all partaking businesses.