BY THOMAS SANTUCCI
QUEENS CHAMBER CHAIR
American Express created Small Business Saturday in 2010, and now the specially designated shopping day is in its ninth year.
There’s no shortage of options when shopping in New York City, but what makes the five boroughs so unique are all its small businesses. According to 2016 New York City Economic Development Corporation data, there are more than 32,000 small business retail establishments across the city.
An average two-thirds (67 cents) of every dollar spent at a small business stays in the local community, according to a new Small Business Economic Impact Study from American Express.
In Queens, specifically, our diverse constituency makes us very unique, and Small Business Saturday has a dramatic impact on the business owners in the borough. Some of these businesses literally get 30 percent of annual sales as a direct result of this one day.
As for community reinvestment, these bolstered sales go a long way. If a business sees increased sales in a specific community, there is a great chance they will be spending that money with other businesses in the same area. This really is a “rising tide lifts all boats” scenario.
As the Chairman of the Queens Chamber of Commerce, we will continue to advocate for our small business owners and do whatever it takes to get them noticed.
Queens Chamber staff have gone into the neighborhoods to not only remind them of the importance of the day, but give recommendations and alerts to what business owners can do to enhance sales.
We congratulate the success of our small business owners and will continue to remain a champion of their growth!