South Carolina Celebrates Local Business Support

News Summary

On Small Business Saturday, South Carolina embraced local commerce as community members gathered to support local shops. The event highlighted the significance of shopping small and its positive economic impact, with record spending reported. Local business owners expressed the need for ongoing support to sustain operations and promote community welfare. New initiatives were introduced to engage citizens beyond this one-day event, with a focus on diversity among entrepreneurs. As small businesses continue to play a vital role in the economy, the collective effort to shop local marks a push towards maintaining vibrant community dynamics.

South Carolina celebrated Small Business Saturday on November 25, 2023, as local stores opened their doors and encouraged community members to shop local. The event is a part of the Small Business Saturday program, which promotes the importance of supporting local businesses and is cosponsored by the Small Business Administration (SBA).

Founded by American Express in 2010, Small Business Saturday aims to foster a nationwide movement towards shopping small in communities across the country. In 2023, spending during this event reached a record-breaking $17 billion, highlighting the financial impact of local consumer support.

Local business owners in South Carolina recognized the community benefits of shopping locally. For instance, the co-owner of Gadgetboy in Columbia shared that local shopping not only aids individual businesses but also uplifts surrounding enterprises. Similarly, the co-owner of Loose Lucy’s emphasized that supporting local shops is essential for sustaining local families and preventing business closures in the area. This sentiment was echoed by shoppers in the region, who saw the necessity of backing small businesses to mitigate the encroachment of larger retailers.

Residents expressed a collective understanding of the critical role that small businesses play in maintaining diversity within their communities. One shopper underscored the importance of local commerce, stating that it is vital for maintaining various shopping options. Another shopper, navigating the local stores with her daughter, pointed out the value of friendly service that local businesses often provide, aiming to contribute positively to their sustainability.

According to the SBA’s recent statistics for South Carolina, small businesses have become increasingly significant to the state’s economy, responsible for almost 80% of the total jobs added in the last year. Specifically, small businesses contributed approximately 78.9% of new job growth, illustrating their vital role in employment within the community.

Furthermore, an interactive map was launched to offer consumers an overview of deals and events supporting local businesses during Small Business Week. This initiative demonstrates the commitment to engaging the public in recognizing and supporting local shops beyond just one day of shopping. The City of Columbia is also set to host a Small Business Week Conference on May 9, which will feature various workshops and a keynote speech aimed at fostering growth and support for local business initiatives.

During Small Business Week, more than 79 small businesses in the Midlands participated in related events, reinforcing the sense of community and collaboration among local operations. Data from 2023 also indicates a significant trend within entrepreneurship—44% of new businesses founded in the past year were owned by women, and 50% were minority-owned, showcasing a diverse and vibrant business landscape.

As community members pulled together to support their local businesses on Small Business Saturday, the emphasis on fostering local commerce resonated throughout South Carolina. With record spending and increased participation from the public, small businesses are expected to continue serving as a foundation for economic growth in the state, bolstered by local support and community initiatives.

Deeper Dive: News & Info About This Topic

• Colatoday: Small Business Week in Columbia
• Columbia Daily Herald: Gov. Lee Visits Columbia Businesses
• Columbia Business Report: SBA Appoints South Carolina Director
• ABC Columbia: Small Business Week Begins in the Midlands
• Wikipedia: Small Business