Starting next week, many Americans will kick off their holiday shopping, and a new report on small business growth found 60% of Americans are prioritizing shopping at local businesses this holiday season. Which is a promising sign for the 44% of local business owners who are depending on holiday season sales this year.
With over 33 million small businesses nationwide, the report analyzed data* to find where small businesses are thriving the most in the country.
Arizona is 4th in the nation for fastest growing small businesses. The professional, scientific, and technical services sector dominates as the top industry in Arizona. When it comes to the number of local establishments, Arizona has 8,711 small businesses per 100,000 people.
The report also found over half of Americans are ready to boost their local economies with 57% willing to pay more to support local establishments.
Even more intriguing, 52% are already planning to participate in Small Business Saturday, which is coming up on November 25th. In general, 90% of Americans want to see more small businesses in their communities.
Read more about the study here: https://www.ipx1031.com/small-business-statistics-report/
*Methodology: IPX1031 analyzed data on small businesses sourced from the U.S. Small Business Administration. We also conducted a survey of 1,003 people from across the U.S. on their shopping preferences when it comes to small businesses.
