Small Businesses Keep Dollars in Local Economies Saturday – WRBI Radio

Statewide — There’s no shortage of options for holiday shoppers this week, and tomorrow (November 26) brings Small Business Saturday.

Sandwiched between Black Friday and Cyber ​​Monday, Small Business Saturday reminded shoppers to hit up local retailers, artisans and restaurants as they prepare for the holidays.

A small business economic impact study conducted for American Express reported that of every dollar spent by a small business, 68 cents remain in the local economy.

David Watkins, vice president of small business at the Indiana Economic Development Corporation and director of the Indiana Small Business Development Center, said buying small can benefit Indiana communities of all sizes.

“All of these follow-on effects are clearly benefiting not only major population centers across the state, but perhaps more importantly, all of Indiana’s towns, cities and communities with small businesses,” Watkins explained.

According to the Indiana Small Business Development Center, small businesses account for more than 99 percent of all businesses in Indiana and employ 1.2 million Hoosiers.

Small Business Development Centers are a nationwide network that provide new and existing businesses with free business advice and low-cost training, often hosted by universities.

In Indiana, the center is incorporated into the state government through the Indiana Economic Development Corporation.

There are 10 regional offices across the state, and Watkins noted that businesses of all types can get help.

“Whether you’re running a side business out of your basement, opening a hair salon, or you’re a high-tech software company, Indiana has a place, a program, and a vehicle through which we can support your success in the state,” said Vaught Kings added.

The Small Business Development Center is funded in part by Congress through the Small Business Administration.

(Stories from our newsgathering partners at the Indiana News Service)

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