Every year since 2010 Ohioans have supported family-run businesses on Small Business Saturday. As a member of the Leadership Council for the National Federation of Independent Business (NFIB) in Ohio, I have spent time with entrepreneurs across the state and have learned how valuable this time of year is to small businesses, and how valuable small businesses are to the economy.
Because small businesses expect, on average, 29% of their annual sales to be during the holiday season, according to NFIB, Small Business Saturday is the perfect time for consumers to get out and support their local economy.
Today in Ohio there are nearly 1 million small businesses that employ almost half of the private workforce in the state. Last year, 2018, was an exceptional year for small businesses, with over 125,000 new business filings with the Ohio Secretary of State. I am hopeful this economic growth will continue through 2019 and beyond. As a pallet company, my business’s success is highly indicative of the strength of the overall economy. If there’s a high demand for pallets, the businesses that need those pallets must be moving product and doing well too. Based on my 2019, the economy is doing very well today.
According to a study by American Express, 68% of the money spent by consumers at local businesses stays in the local economy, as opposed to only 43% of the money spent by consumers at a national chain. This goes to show that small businesses support their local communities where their employees live, which is why we in turn should all get out and support our local businesses for Small Business Saturday on November 30th.
Tracie J. Sanchez
Lima Pallet Company, Inc.