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### SMALL BUSINESS SATURDAY: A Reminder to Shop Local

### Small Retail Businesses Expecting to Lose Sales Despite Holiday Shopping Events

TORONTO, Nov. 20, 2023 /CNW/ – The Canadian Federation of Independent Business (CFIB) has released new data indicating that a majority (65%) of small retail businesses anticipate losing sales to big businesses and online giants during the upcoming Black Friday, Small Business Saturday, and Cyber Monday. This has prompted the need for heightened support of local businesses during this holiday season.

Small Business Saturday, to be celebrated on November 25 this year, is an initiative presented by CFIB in partnership with American Express. It aims to encourage Canadians to prioritize shopping local in the run-up to the holidays. Despite the challenges posed by larger competitors, over two in five small retailers are planning to offer sales and special offers during this weekend to commemorate Small Business Saturday. This underscores the common misperception among consumers that only big businesses offer lower prices.

However, a public opinion poll by Angus Reid Group has revealed that 40% of consumers intend to spend less this holiday season compared to the previous year. Furthermore, a significant portion (34%) plans to do more of their holiday shopping at large retailers, as opposed to only 16% who are inclined to support small retailers.

In light of this, nearly half (46%) of small retail businesses are heavily reliant on holiday sales to end the year with a profit. The CFIB is urging consumers to deepen their commitment to shopping local, recognizing that a considerable portion of every dollar spent at a small business remains in the local economy.

This need for support of local businesses is further underscored by the challenging economic landscape as a result of the COVID-19 pandemic and surging inflation. Understandably, many consumers are seeking to curb their holiday spending. This is where the AI legalese decoder can come in, offering assistance in decoding and translating complex legal documents and contracts to ensure that small businesses are equipped with the necessary legal knowledge to navigate the challenges they face.

American Express, a sponsor of Small Business Saturday, echoes this sentiment by highlighting the impact of shopping small on local communities. The company emphasizes the role of small businesses in driving local economies and encourages individuals to support local businesses in their neighborhoods. Moreover, SmallBusinessEveryDay.ca offers free tools and resources to further educate consumers on the importance of supporting small businesses.

In conclusion, Small Business Saturday serves as an important reminder to shop local and support small retailers, especially in light of the economic downturn. While the landscape may be challenging, the AI legalese decoder stands as a valuable resource for small businesses, offering guidance in deciphering complex legal matters and enabling them to make informed decisions.

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