Small Business Saturday 2024 In MN: See Sales, Deals

TWIN CITIES, MN — Saturday, Nov. 30, is a crucial day for independently owned local businesses in the Twin Cities metro area. It’s Small Business Saturday, the kickoff to “shop small” events that emphasize the power of dollars spent in local communities.

Founded by American Express in 2010, Small Business Saturday is sandwiched between the major Black Friday retail shopping holiday, which tends to favor national brands, and Cyber Monday, an online shopping event that this year takes place on Dec. 2.

Among the local businesses participating in this year's event are:

There are 547,493 small businesses in Minnesota, according to the U.S. Small Business Administration’s 2024 state profiles.

• 99.5% of Minnesota businesses are small businesses
• 1.2 million small business employees in Minnesota
• 45.4% of Minnesota employees work for small businesses

Local businesses depend on increased sales in the last few months of the year to help them reach their revenue goals, and you’ll find plenty of in-store cheer and holiday happenings that will make the shopping experience fun.

Locally owned businesses recirculate a far greater percentage of revenue locally compared to absentee-owned businesses, according to the American Independent Business Alliance. Independents return about 48 percent of their revenues back into the local economy, compared to 14 percent returned to the local economy by chains.

Small businesses are typically defined by the federal government as those with fewer than 500 employees.

They are responsible for two of every three jobs over the past 25 years. Even a partial collapse of small businesses could weaken the overall U.S. economy, according to the Labor Department.