Small Business Saturday key to promoting, sustaining locally-owned shops

Handmade turquoise rings. Piñon coffee and biscochitos. New Mexico T-shirts and Duke City socks. Wine made from the vineyard across the road.

These are local gifts New Mexicans can buy on Small Business Saturday to support business owners across the state on Nov. 25. It’s a way to boost local economies and sustain jobs, especially as the effects of the pandemic linger.

Shops around the city are preparing for the holiday. New Nuevo, a gift shop in Old Town where people can build their own gift boxes full of local goodies, is offering 20% off everything Saturday and free gift wrapping, even for items not purchased from the store.

Co-owner David Stroud said all the items in New Nuevo are from small businesses across the state. It’s a way to promote different makers’ and artisans’ stories while also getting their product out there, he said.

“It’s all handcrafted here in New Mexico,” he said.

The 20% off sale starts today, he said, but that’s more focused on an online audience. Stroud said the business is hoping people come to Old Town on Small Business Saturday.

It may not be a retail event that’s as well known as the two major retail days — Black Friday and Cyber Monday — that cushion it, though.

Stroud said he wished more people knew about Small Business Saturday “because it really helps all of us small businesses.”

Marisa Barrera is the chief impact officer at DreamSpring, a loan agency in Albuquerque. She said Small Business Saturday is still gaining momentum and getting known around the country. It’s been around for a little more than a decade, after American Express founded Small Business Saturday in 2010 and the Small Business Administration joined as a cosponsor in 2011.

“So many households around the country know about Black Friday and even Cyber Monday, and Small Business Saturday is still, I think, getting some of that name recognition,” Barrera said.

She said it’s good to spread the word about Small Business Saturday so more people are aware of it.

Hilda Rivera, a local resident shopping in Old Town during the holiday week, said she’d never heard of Small Business Saturday. Her friend Maria Valdovinos, visiting from California, had but didn’t have plans to go out because of travel plans and her normal routine.

“I don’t do a lot of shopping,” she said. “I spend more time at home on the weekends.”

Valdovinos said she wanted to shop locally while in New Mexico to help contribute to the community rather than spending more money through a big company like Amazon. “My lovely Amazon,” she said, joking.

About 99% of businesses in the state — or 158,000 enterprises — are small businesses, according to the U.S. Small Business Administration. Albuquerque alone has more than 40,000 small businesses, according to the city.

Agnes Noonan is the president of WESST, a marketing consultant in Albuquerque. She said by shopping locally, money continues to circulate in the state.

A survey by American Express found that 68 cents from every dollar spent at a small business stays in the local community.

“The more we can support local businesses in New Mexico, the better it is for our economy,” Noonan said.

Barrera said Small Business Saturday also helps sustain local jobs.

“Small Business Saturday is a needed day to really show up for small businesses in our community in ways that are meaningful for our local economy as well as for just the social fabric and vitality of our community,” she said

She said there are also other ways to support small businesses if Saturday isn’t the right time to spend money, like spreading the word about a shop or leaving a positive review online.

“There are other things that we can all do that really benefit small businesses in helping them connect with more customers down the road,” she said.

Many small businesses are still reeling from the intense economic impact of the pandemic. Barrera said DreamSpring hears from small business owners who say there are residual effects, like inflation and a tight labor market.

“We know that small businesses continue to need the support of their local community,” she said.

Noonan said it’s easier to shop online, a practice that the pandemic intensified, and people have to make an intentional effort to shop locally. She said there’s “an incredible amount of talent in this state, and there’s lots of wonderful products.”

“Small businesses really are the lifeblood of the economy,” Noonan said. “The only way small businesses stay in business is if we all support them.”

Stroud said it can be difficult for small business owners to offer big sales incentives like those at big box stores.

“But we offer products that are locally made,” he said, “but also products people can use and give that you can’t really find in bigger stores.”

He said there are a lot of shops in Old Town doing things for Small Business Saturday, and it can be a family-friendly event for those who patronize its shops.

There’s free parking in the Old Town parking lot through Christmas. There’s also free parking along Central Avenue, from Eighth Street to Carlisle Boulevard.

Small Business Saturday is also a tax holiday. The state is suspending gross receipts tax all day on certain items — like clothing, electronics and tools — at local businesses with fewer than 10 employees.

An Albuquerque gift guide with suggestions on different types of local items to get friends and family can be found at Visit Albuquerque’s website, visitalbuquerque.org.