Small Business Saturday: it's a big deal
Support of small business is a worthy effort for any community. Nationally, Nov. 24 is Small Business Saturday. The emphasis has been supported with TV ads and certainly by the Thomasville Area Chamber of Commerce.
The definition of small business may surprise you.
According to the Small Business Administration, a small manufacturing business is defined as a company with 500 or more employees. In a service industry, the size is determined by gross receipts, which may not exceed $21.5 million. As for retailers, annual recipets may not exceed $21 million.
In a small cities such as Thoomasville, Archdale or Trinity, that definition doesn't quite fit the business landscape.
But this premis does — support local businesses.
By personally making a commitment to do business locally, you support local jobs, which in turn grows the sales tax revenue and leads to growth and expansion of the tax base.
According to Gregg Thompson, state director of the National Federation of Independent Business, the holiday shopping season is crucial to the state's small businesses, which are still recovering from the slowdown in the economy. State-specific data isn’t available, but according to the NFIB Small-Business Optimism Index for October, the No. 1 problem facing small businesses remains weak sales.
“Small business is what our economy is all about, and if we’re going to create jobs, we need a healthy small-business community," Thompson said.
Supporting small businesses during the holidays pays dividends throughout the year, Thompson said.
He's right. Some of the areas largest employers — Old Dominion, CV Product, Unilin and Thomasville Medical Center — are outstanding examples of how businesses impact their community through donations, promotions and volunteers.
The Yin-Yang relationship of small business and community filters down to the youth sports team, school supplies for Communities in Schools and even your church.
It's that close and that personal.