With Small Business Saturday approaching on November 30, new research highlights the impact of Main Street enterprises on local communities and economies. The study, released by the National Federation of Independent Business (NFIB), emphasizes the contributions of small business owners in terms of volunteering, financial support, and in-kind donations.
Ronda Wiggers, Montana state director for NFIB, stated, "Our report looked at the volunteering of time, financial support, and in-kind contributions small business owners make, and it’s beyond significant." The 2024 Small Businesses’ Contribution to the Community report was produced by NFIB's Research Center.
The nationwide survey reveals that approximately 76 percent of small business owners volunteered their time for civic groups or similar activities over the past year. Financial support was identified as a common method of community involvement, with 90 percent of owners providing monetary aid to various groups. Additionally, 63 percent reported offering in-kind contributions such as meeting spaces or auction items.
The report offers a national overview without state-specific breakdowns. Typical NFIB members employ between one and nine people and have annual gross sales around $500,000.
Wiggers noted the economic significance of small businesses: "The importance of small businesses to local economies has been well-known for a long time." She highlighted that a significant portion of spending remains within the community rather than being sent to out-of-state companies.
A successful Small Business Saturday is crucial for maintaining healthy economies throughout the year. Last year's event saw $17 billion spent. Wiggers emphasized the narrow profit margins faced by small businesses and expressed hope that Montanans would support local enterprises not only on November 30 but every day.
For more information about Montana's small business news or NFIB's advocacy efforts, visit www.nfib.com/montana or follow them on X at @NFIB_MT.
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For 80 years, NFIB has advocated for America's small and independent business owners across all states. Founded in 1943, it remains dedicated to supporting these businesses today. More details are available at nfib.com.
