The Small Business Administration just published a final rule to modify its method for calculating annual revenues used to prescribe size standards for small businesses. The final rule is effective Jan. 6, 2020.
U.S. Small Business Administration Acting Administrator Chris Pilkerton is encouraging Americans to support local communities by shopping at small businesses on Saturday, November 30.
Celebrated each year on the Saturday after Thanksgiving, Small Business Saturday allows consumers to make a tremendous impact in their neighborhoods by supporting local small businesses. Last year, an estimated 104 million consumers nationwide “shopped small” on that day.
“Supporting the local economy is the driving force behind Small Business Saturday, and every year the SBA has been proud to rally the community during this vibrant holiday shopping season event,” said Acting Administrator Chris Pilkerton.
“The SBA helps empower America’s 30 million small businesses by providing them with tools they need to start, grow and expand during the holiday season and throughout the year.”
This year marks the tenth Small Business Saturday, an annual celebration of America’s small business community. Last year, Americans spent a combined $17.8 billion at independent neighborhood retailers and restaurants.
Today, there are over 30 million small businesses in the United States. About half of all-American workers are either employed by a small business or own a small business. And two out of three net new jobs are created by small businesses.
For more information regarding this celebration, visit www.sba.gov/saturday.