For every $100 spent at a small business in the United States, an average of $48 is reinvested into the local economy.
Unfortunately, the same can’t be said for funds expended at large retailers. According to an article published by Amiba, when a customer spends $100 at a big-box store, only about $14 is subsequently returned to the local economy.
Meanwhile, the Small Business Administration (SBA) reports that small businesses account for more than half the companies in the United States. Moreover, not only do small businesses employ more than 55% of the total American workforce, the SBA estimates that approximately two-thirds of all new jobs created in the United States since the 1970s were started by small business owners.
In addition, the more than 600,000 franchised small businesses in the United States account for approximately 40% of all retail sales while providing jobs for more than 8 million people.
Another fun fact: the SBA estimates that American small business entities occupy anywhere between 30 to 50 percent of all commercial space in the US. That means that between 20 to 34 billion square feet of space is occupied by small enterprises. Humbly, T.Y. Fine Furniture occupies 2000 square feet out of those billions of square feet.
This year, Small Business Saturday falls on November 28. We will be open our regular Saturday hours, 10-5, but that Saturday won’t be like any other day. Please come in to see how we can help you sleep better on an organic, earth-friendly mattress or relax more completely in one of our DreamWave massage chairs or fine leather reclining chairs. Or, if you have been considering a custom-made piece of furniture created by one of our experienced craftsmen from the finest wood found in Ohio, please come in to discuss how we can fulfill that dream.
We look forward to serving you on Small Business Saturday and every other day before and after.