Press Release

Lieutenant Governor Bolling Encourages Shoppers to Support Small Business Saturday on November 24th

Ibbie Hedrick
804-225-2487
ibbie.hedrick@ltgov.virginia.gov

Tuesday, November 20, 2012

Richmond - Lieutenant Governor Bolling today encouraged Virginia shoppers to participate in the third annual Small Business Saturday which will be taking place this year on November 24, 2012.

Small Business Saturday, which falls between Black Friday and Cyber Monday, supports the national movement to drive consumers to shop at local, independently owned businesses during the heaviest shopping weekend of the year.

"I hope that all Virginians will participate in Small Business Saturday," said Lieutenant Governor Bolling. "Small businesses are the heart of Virginia's economy. They make up 98% of all businesses in Virginia. We should do everything possible to lend them a helping hand in this uncertain economy. Please take this opportunity over the holiday weekend to patronize small shops, restaurants and service providers that help Virginia's economy grow."

According to the inaugural Small Business Saturday Insights Survey, released by the National Federation of Independent Businesses (NFIB) and American Express, 46% of independent merchants plan to incorporate Small Business Saturday as part of their holiday strategy, and the majority (67%) of them say they will offer discounts on November 24th.

Small businesses are critical to the nation's overall economy. Over the past two decades, small businesses have generated 65% of net new jobs. Small businesses currently pay 44% of total U.S. private payroll.

Background on Small Business Saturday

Small Business Saturday (SBS) was created in 2010 in response to small business owners' most pressing need: more customers. In 2011, more than 2.7 million Facebook users, 230 public and private organizations, 75 corporations and elected officials in all 50 states and Washington D.C. declared their support for SBS. Last year, more than 500,000 small business owners leveraged an online tool or promotional materials for SBS and 15,000 businesses signed up for free Facebook advertising to promote their products and services in the run up to SBS. American Express is the founding partner of SBS.

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For additional information contact Ibbie Hedrick at 804-225-2487 or ibbie.hedrick@ltgov.virginia.gov.