SCORE, the nation’s largest network of volunteer, expert business mentors, is dedicated to helping small businesses get off the ground, grow, and achieve their goals. In honor of National Entrepreneurship Month, the organization gathered statistics on the popularity of small businesses to local communities. It found that for every dollar spent at a small business, 67 cents remain in the local community.
According to SCORE, 91 percent of Americans shop at a small business at least once a week, 47 percent frequent small businesses two to four times weekly, and 17 percent shop at small businesses more than four times per week.
As part of its research, SCORE found that bakeries are the most popular local business, at 40 percent. Clothing/accessory/shoe stores are also a top destination for local shoppers (40 percent), followed by restaurants/bars/pubs (37 percent), bookstores (32 percent), and gift/novelty/souvenir stores (30 percent).
This appreciation for local businesses will be on display on Small Business Saturday, set to take place Saturday, November 30. 97 percent of consumers say Small Business Saturday has positively impacted their community, 80 percent plan to shop at independently-owned retailers or restaurants that day, and 59 percent plan to shop from small businesses online.
“This research shows that shoppers feel good about supporting their local small businesses because they recognize the positive impact these businesses have on their communities,” says Bridget Weston, CEO of SCORE. “That positive impact is emotional – since nothing beats the personalized service and familiarity created by local small businesses – as well as economical. An incredible 67 cents out of every dollar spent at a small business stays in the community, which strengthens the local economy.”