Holiday sales are vital to a business’s bottom line. In fact, the holiday season can generate as much as 20 to 40 percent of annual sales for many small and mid-sized retailers.
While the advertising industry is in full swing around Black Friday and Small Business Saturday, the unfortunate reality is that this year we’re faced with an uncertain economic climate because of the recent government shutdown, which could lead to fewer folks hitting the shops. In a recent survey, the National Retail Federation found that nearly one-third of consumers said the recent political gridlock surrounding the government shutdown may affect their holiday spending plans, and more than half said the current economic outlook would impact their holiday shopping. To add insult to injury, this is the shortest holiday season in a decade, which means businesses will have fewer days than usual to entice shoppers with their wares. What this all boils down to is that the stakes are higher than ever for entrepreneurs during the biggest shopping weekend of the year. Continue reading
Our country was built by entrepreneurs—hard working people whose innovation, sacrifices and accomplishments made America what it is today. Thanks to their dedication and creativity, small businesses have become the backbone of our economy. Today, on National Entrepreneurs’ Day, it’s important to consider the tremendous impact they have on our economy.
The small business economy includes 6 million small firms and 22 million self-employed individuals. In addition, small firms account for half of private sector employment and have created two out of three net new jobs over the past couple of decades.
But since President Obama proclaimed the first National Entrepreneurs’ Day in 2010, our nation’s entrepreneurs have struggled to continue recovering from the Great Recession. From the government shutdown and debt ceiling crisis to delays with healthcare reform, small businesses have found it difficult to grow in this economy. As we look forward to the upcoming holiday season, let’s honor our country’s biggest job creators by considering smart policies that help them create new jobs and strengthen our economy.