House Committee on Small Business Chairman Rep. Sam Graves (R-Mo.) recently introduced a bipartisan resolution that recognizes the Saturday after Thanksgiving as “Small Business Saturday.”
The measure urges Americans to shop at local businesses to support their local communities.
“Small Business Saturday helps raise awareness of the importance of small businesses in the U.S. economy and their value to every community in America,” Graves said. “Our nation’s 28 million small businesses play an integral role in our national and local economy, and we should remember their impact on our everyday lives…”
Small businesses account for 64 percent of net new private sector jobs and outpaced larger firms in net job creation approximately 75 percent of the time from 1992 to 2010, according to the Small Business Administration.
“…As we celebrate Thanksgiving, let’s all be thankful that we live in a nation where a free enterprise system fosters entrepreneurship, allows for economic mobility and creates opportunities for Americans,” Graves said.
Small businesses are also at the forefront of innovation. Small business owners account for 16 times more patents per employee than larger firms do, according to the SBA.
Graves urged Americans to regularly support their local economies, and on Small Business Saturday in particular.