Business & Tech
Small Business Saturday 2024 In Coventry: See Sales, Deals
Small Business Saturday is sandwiched between the major Black Friday retail shopping holidays, which tends to favor national brands.
COVENTRY, RI — Saturday, Nov. 30, is a crucial day for independently owned local businesses in Coventry. 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.
The following are some of the local businesses participating in this year's event:
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- The Old Theater Diner
- Coventry Nutrition
- Mayo Quanchi Judo & Wrestling
- Judi T. Dance Studio
- Rose's Nails
- Crystal Cleaners
- The Bead Sting Gift Shop
- Popcorns dream candy shoppe
- 1 Stop Collectables
- Diversified Auto Repair.
Since it started in 2010, consumers have reported spending an estimated $163 billion at small businesses across all 12 Small Business Saturdays combined.
There are 109,983 small businesses in Rhode Island, according to the U.S. Small Business Administration’s 2024 state profiles. About 43 percent of those businesses are owned by women, 5.1 percent by Veterans, and 14.6 percent by Hispanic people, according to the SBA.
Find out what's happening in Coventryfor free with the latest updates from Patch.
Recently, more businesses have been opening than closing in the Ocean State. Between March 2022 and March 2023, 6,364 Rhode Island businesses opened and 4,699 closed, for a net increase of 1,665.
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.
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