Small Business Saturday In Inwood, Wash Heights: See Small Biz List
Business & Tech
Small Business Saturday In Inwood, Wash Heights: See Small Biz List Looking to support small businesses on the Inwood and Wash Heights? Here's a list of participating businesses to check out this weekend: Looking to support small businesses on the Inwood and Wash Heights? Here's a list of participating businesses to check out this weekend: (Shutterstock)INWOOD, NY — Saturday, Nov. 25, is an important day for independently owned local businesses in Inwood and Washington Heights. It’s Small Business Saturday , the kickoff to “shop small” events that emphasize the power of dollars spent in local communities.
Founded by American Express in 2010, Small Business Saturday is sandwiched between the major Black Friday retail shopping holiday that tends to favor national brands and Cyber Monday, an online shopping event that this year takes place on Nov. 27.
The following local businesses are just some of those participating in this year's event, according to American Express’ Small Business Saturday tracker:
Since it started in 2010, consumers have reported spending an estimated $163 billion at small businesses across all 12 Small Business Saturdays combined.
In New York State, Small businesses represent 98 percent of all businesses and support 40 percent of the private sector workforce, according to figures provided by Gov. Kathy Hochul’s office.
“As the daughter of a small business owner, I know it takes hard work and perseverance to start and grow a business,” Hochul said. "Since the beginning of my administration, we have made historic investments in New York’s small businesses, which provide jobs, boost local economies, and have a huge impact on communities across the state. This Small Business Saturday and every day, I encourage New Yorkers to shop locally.”
Locally owned businesses recirculate a far greater percentage of revenue locally compared to absentee-owned businesses, according to the American Independent Business Alliance . Independents return about 48 percent of their revenues back into the local economy, compared to 14 percent returned to the local economy by chains.
Small businesses are typically defined by the federal government as those with fewer than 500 employees.
They are responsible for two of every three jobs over the past 25 years. Even a partial collapse of small businesses could weaken the overall U.S. economy, according to the Labor Department.
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