By SBA Regional Administrator Aikta Marcoulier and SBA Colorado District Director Frances Padilla
The Season of Small Business is an annual U.S. Small Business Administration-led campaign designed to drive Americans to shop at small businesses throughout the entire holiday season. The pandemic confirmed the essential role that small businesses play in our daily lives. The holiday shopping season is a crucial time for small firms that depend upon the boost in sales earned between Thanksgiving and New Year’s Eve. It sounds cliché, but locally owned small retailers and restaurants truly are the heart and soul of our cities and towns.
Not so long ago, it was an annual holiday tradition to travel downtown and shop at one of the many locally owned businesses. Brick-and-mortar businesses would promote their best deals of the year in hopes of luring shoppers to make a purchase, or at least browse their shelves full of merchandise.
Today, online shopping has quickly become the preferred way Americans buy their holiday gifts. Recent estimates show that more than 80% of shoppers make regular online purchases throughout the year. Given the dramatic shifts in the retail environment over the past 20 years, those holiday scenes and traditions are in danger of passing into the realm of nostalgic folklore.
To better compete, small business owners have modernized the way they sell and promote their products and services. Today, most entrepreneurs have pivoted their traditional operating models to include e-commerce platforms and social media to meet the new demands of the online consumer. Some are even bringing back the retail traditions of the past by providing personalized one-on-one assistance to customers and selling locally produced niche items found nowhere else in town. Cottage businesses are starting in record numbers as people realize their dream of small business ownership can begin in their basement or garage.
The success of this year’s holiday shopping season will have a huge impact here in Colorado and across the nation. It starts on Small Business Saturday and ends once the final cork is popped on New Year’s Eve. Colorado’s 716,000 small businesses continue to generate two of every three net new jobs and deliver essential goods and services in both rural and urban communities. They employ more than 1.1 million Coloradans, give back to their local nonprofit organizations and just make this state a better place to live.
If you are leaning more toward creating memories versus traditional gift-giving, consider one of the state’s 37,000 small businesses that offer entertainment or recreational activities.
Small businesses are the backbone of our democracy, and the solution to our most challenging economic problems. If you’re an entrepreneur and need advice, please consider exploring the tools and resources of the SBA and its partners. SBA’s resource partners include the statewide Small Business Development Center (SBDC) network; a Procurement Technical Assistance Center (APEX Accelerator) in Colorado Springs; two SCORE Chapters; a Women’s Business Center at Mi Casa Resource Center in Denver; and local strategic partners such as Manufacturer’s Edge, NEWSED and the Mountain Plains Minority Supplier Development Council. All our partners are key to helping identify strategies to become more competitive and viable in what will likely be an ever-shifting business landscape.
In addition to our formal partners, small business owners can get involved with local support organizations such as chambers of commerce, business districts and neighborhood associations. These entities are actively involved in coordinating events and promotions to attract foot traffic to their small business members including local bazaars and festivals that focus on shop small/dine small/entertain small activities.
This holiday season, please join us in making at least one purchase from a locally owned small business in your city or town. These business owners are the true heroes of our communities, and they deserve our support and appreciation.
[footer] Aikta Marcoulier serves as the SBA’s Region VIII Administrator in Denver. She oversees the agency’s programs and services in Colorado, Montana, North Dakota, South Dakota, Utah and Wyoming. Frances Padilla is the SBA’s Colorado District Director in Denver. She oversees the agency’s programs and services across the state.
