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Commentary - Support Main Street this holiday season

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Michael Smith
(Colorado Newline)

Before the trick-or-treaters even make it back home, big-box stores flood mailboxes and inboxes with Black Friday ads.

But the big box stores aren’t the only place to find a good bargain. Small Business Saturday, the day after Black Friday, offers shoppers an opportunity to find great quality items at a competitive price and invest in their community.

Small Business Saturday has become a great way to kick off the holiday season. What began 15 years ago as a way to promote local businesses recovering from the Great Recession has blossomed into one of the busiest shopping days of the year. Last year, shoppers spent roughly $22 billion at their local businesses.

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The holiday season is a time to celebrate and express gratitude. Here in the Centennial State, small business owners are particularly grateful for how elected officials in Washington, D.C., have stood up for Main Street. Back in July, Congress and President Donald Trump made the 20 percent Small Business Tax Deduction permanent, averting a major tax hike at the end of the year. This federal tax victory will go a long way in helping our small businesses navigate an uncertain economic environment.

There was less good news coming out of the statehouse, with lawmakers passing more red tape for our job creators to navigate, increasing their litigation risk, and eliminating the sales tax vendor allowance. Unfortunately, during both the regular and special sessions, the General Assembly made it more difficult to be a small business owner in Colorado.

Between rising prices, a tight labor market, and a decline in sales, small businesses across the country are heading into the holiday season with a little less cheer. According to a recent NFIB survey, optimism among small business owners declined in October, as job creators reported reduced sales and profits. And while many small businesses want to hire, filling open positions is becoming nearly impossible.

On Small Business Saturday and every day of the year, shopping small plays a big role in supporting our communities. In Colorado, Main Street businesses are the beating heart of our economy, accounting for more than 99 percent of businesses in the state and employing nearly half of working Coloradans, according to the Small Business Administration.

When you stop in at your favorite coffee shop, locally owned boutique, or family-run restaurant, your dollars go further. Nearly 68 cents of every dollar spent at a small business stays within the community where it’s spent and creates another 50 cents in local business activity.

Small businesses’ investment in the community goes well beyond providing good-paying jobs for our friends and neighbors. Oftentimes, it is small business owners who sponsor little leagues, contribute to school fundraisers, and help keep food pantry shelves stocked.

This holiday season, don’t forget to shop small. Our local businesses keep our communities strong and our economy growing.

When Main Street prospers, we all prosper.