Today is the first ever Small Business Saturday, intended to be a day to come together in support of the small businesses that employ our neighbors and reinvest our money in our communities and are the heartbeat of our local economies. From the web page where American Express OPEN, the small business unit, is marketing this event, here are four reasons to support small business:
- For every $100 spent at local small businesses, $68 returns to the community
- Small businesses employ half of all private sector employees.
- Small businesses represent 99.7% of all employer firms
- For every year over the last decade, 60% - 80% of all new jobs were generated by small businesses.
On November 27, 1746, Robert R. Livingston, the member of the Continental Congress who administered the oath of office to first President George Washington in 1789, was born. Much more recently, on November 27, 1991, Congress passed the Bank Bailout Bill in response to a record number of savings and loan failures. Actor and martial artist Bruce Lee would have be 70 years old and musician Jimi Hendrix would have been 68 years old today.
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