Linda McMahon, head of the U.S. Small Business Administration, explains why Small Business Saturday matters. When you spend a dollar at a small business, 68 cents stays in the community. Small retailers build relationships customers can't get anywhere else, but they're struggling to find workers.
Questions this video answers
Administrator of the U.S. Small Business Administration
68 cents of every dollar
Chapters
And we are joined by the administrator of the U.S. small Business Administration, Linda McMahon. Good to see you again.
Nice to see you, too.
You know, I know you're excited about this year's small business, because the fact of the matter is they're the center, the glue, if you will, of so many communities across our country.
They certainly are. I mean, and if you go in on Small Business Saturday and you shop in your local community and you get that coffee and you do all those things, it's like you're. You're part of the community. And, you know, 68 cents of every dollar that's spent in a small business. Business in the community stays in the community. It supports the fire department. It supports real estate. It supports everything in the local community.
What's, what's the common struggle you've seen as you traveled across the country for. For small businesses right now?
Well, small businesses, really, they struggle against bigger businesses. Right now we have a workforce shortage because unemployment is so low. So small businesses are competing for that. So we're trying to. To make sure that we are providing a. A bigger workforce to come into those small businesses.
Is it true? I've seen that. The fact that even though there are these huge companies, you know, that will remain nameless, that, in a sense, it's helped small businesses because people want to have a personal connection with whom they're buying.
It's so great when I walk into a local shop in my hometown and they say, hey, good morning, Linda. How are you doing? You know that scarf you were looking at? Boy, we've got a different one coming in. I mean, it's that kind of personal touch. You get to try stuff on. They know who you are. It's like, how are the kids? You know, now they're wanting to know how my grandmother grandchildren are. But you don't get that sense if you're not shopping in a small business. And if you're supporting them, they're supporting the community, and it's really a great thing to do. So I urge everybody.
