The holiday rush can be a stressful time for small business retailers. Owners have to account for staffing issues, lack of capital, inventory, opening another location, boosting advertising, and insufficient personal time. Amidst the shopping, box office blockbusters and holiday cheer, retailers with fewer than 100 employees were surveyed to gauge their outlook for the holiday season.
Overshadowed by Black Friday and Cyber Monday super savings from large department and discount stores, small businesses can still find success through other avenues like word-of-mouth, communities and customer loyalty. Taking advantage of the holiday season and ending 2016 on a high note can set up a small business for success in 2017. The first step of that is to be properly prepared. Survey findings show that 87 percent of small businesses are confident in their preparations for the holiday season and 81 percent are confident this season will be a success for their business.
Growth of Small Business Saturday
Holiday shopping numbers so far show that small business retailers’ confidence this season has been well founded. In 2016, awareness and support for small businesses hit a record high. According to the National Federation of Independent Business (NFIB), 72 percent of U.S. shoppers were aware of Small Business Saturday and 112 million consumers shopped and dined on Nov. 26 to support local businesses across the country.
The 13 percent increase in consumers participating in Small Business Saturday can be attributed to social media, which has seen 135 million engagements so far this month in relation to the day.
Small Businesses that Aren’t Confident This Holiday Season: L
Brock Blake: Founder / CEO of Lendio, the nation’s #1 marketplace for small business loans. You can reach Brock on Twitter at @brockblake or at www.lendio.com.
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