November 24th is Small Business Saturday!
Between Thanksgiving, Black Friday, and Cyber Monday, there is one shopping holiday that you wouldn’t want to miss. Small Business Saturday, like the name suggests, is an American shopping holiday dedicated to supporting local shops (the “mom and pop shops”). Americans celebrated their first Small Business Saturday on November 27, 2010. In fact, American Express, a national financial services corporation, largely promoted the holiday in 2010 through wide-stream media: radio ads, TV ads, and now even facebook.
Why are small businesses so important? According to the United States Small Business Administration (SBA), by 2010, small businesses became the primary supporters of the economy. In fact, the SBA found that small businesses contribute to nearly three-quarters of the net new jobs created. From 1992 up until the most recently gathered data (2010), small businesses have, “quarter by quarter . . . outperformed large firms in net job creation nearly three out of four times.”
And, don’t forget intellectual property (IP)! According to Dr. Winslow Sargeant, the Chief Counsel for Advocacy of the SBA, “[s]mall businesses are leading the way in green technology innovation as they have with innovation over all.” Small business firms hold about 32 percent of the nation’s green technology patents involving smart grids and solar energy.
One of my favorite places to shop is etsy.com! Etsy is an online marketplace for handcrafted products, art, and supplies. Many small businesses list their products on etsy. I enjoy seeing all the creativity that people bring onto this internet bazaar, and I am always conflicted when I visit etsy: I want to practically buy everything I see online! From handmade soaps in the shape of french macaroons to cuff links intricately designed with cogs and wheels, if you can’t find the item you’re looking for while window shopping today, then you most certainly can on Etsy!
Do you have a business that you want to start? Yau Law has helped several business-owners take their first step towards success! Whether it is establishing a business entity, registering a patent or trademark, or even providing advice about important business contracts, we have done it all! In fact, nearly all of our clients are small businesses! Contact us today and find out how we can help you begin and protect your business!
Article by Florence Chen.
Read the Small Business Saturday article we wrote last year here.
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