(The Center Square) – Several local organizations are urging Seattle residents to support Small Business Saturday amid some concerns about the economy.
Small Business Saturday is an annual event on the Saturday after Thanksgiving that encourages consumers to support and shop at local small businesses. It was started by American Express in 2010 in the aftermath of the Great Recession to provide a counterpoint to Black Friday and Cyber Monday by directing consumer spending toward local economies.
According to a recent post by the Seattle Office of Economic Development, for every $100 spent at a local small business, it is estimated around $48 is reinvested back into the community. In addition, spending locally generates three-and-a-half times more wealth that stays in the neighborhoods and communities these businesses serve, according to the post…