(Lewisburg, W.Va.) WVVA – Now in its 10th year, small business Saturday continues to be an annual holiday shopping tradition.
According to a study commissioned by American Express, the company that started the idea, for every dollar spent at a small business in the U.S. about 67 cents stays in the local community. And small business generate an additional 50 cents on the dollar at other local businesses due to employee spending and the businesses purchasing other local goods and services.
Small businesses across the U.S. generate about 4.8 trillion dollars- a figure roughly equivalent to the GDP of Japan, the world’s third largest economy.
In the study a small business was defined as those businesses that have 100 or less employees.