Support Main Street this Holiday Season

By Michael Smith

These days, Halloween costumes aren’t even put away before big box stores start blanketing shoppers with Black Friday ads.

But the big box stores aren’t the only place to find a good bargain. 

Small Business Saturday, the day after Black Friday, offers shoppers an opportunity to find great-quality items at a competitive price and invest in their community.

There’s no better way to kick off the holiday season than Small Business Saturday. What began 15 years ago as a way to promote small businesses recovering from the Great Recession has blossomed into one of the busiest shopping days of the year. 

Last year, shoppers spent roughly $22 billion at their local businesses.

The holiday season is a time to celebrate and express gratitude. Here in Wyoming, small business owners are particularly grateful for how elected officials in Washington, D.C. and in Cheyenne have stood up for Main Street.

In February, the Wyoming Legislature delivered meaningful tax relief to Main Street with the passage of Senate File 0048. Gov. Mark Gordon signed the bill into law, raising the tax exemption on business personal property to $75,000, up from $2,400.

Then in July, Congress and President Donald Trump made the 20 percent Small Business Tax Deduction permanent, averting a major tax hike at the end of the year.

These federal and state tax victories will help our small business owners navigate an uncertain economic environment.

Between rising prices, a tight labor market and a decline in sales, small businesses across the country are heading into the holiday season with a little less cheer.

According to a recent National Federation of Independent Business (NFIB) survey, optimism among small business owners declined in October as job creators reported reduced sales and profits, and while many small businesses want to hire, filling open positions is becoming nearly impossible.

On Small Business Saturday and every day of the year, shopping small plays a big role in supporting our communities. 

In Wyoming, small businesses are the beating heart of our economy, accounting for nearly 99 percent of businesses in the state and employing 65 percent of working Wyomingites, according to the Small Business Administration.

Shopping small for the gifts on your list and year-round makes a big difference in your community. When you stop at your favorite locally-owned coffee shop, boutique or family-run hardware store, your dollars go further. 

Nearly 68 cents of every dollar spent at a small business stays within the community where it’s spent and creates another 50 cents in local business activity.

This holiday season, don’t forget to shop small. Our local businesses keep our communities strong and our economy growing. When Main Street prospers, we all prosper.

Michael Smith is the NFIB Wyoming state director. He can be reached by visiting nfib.com.