Saturday Small Business Efforts Attract Customers to Capital Region Establishments

Just one day after Black Friday crowds thrived in shopping malls and malls in the Capital Region, local shoppers helped make the biggest weekend of the year in the world. Retail sector be strong on "Saturday Small Businesses".

Despite a cool breeze, dozens of people strolled through downtown Troy, browsing the many shops and cafes in the area, such as 3rd Street Potters, AMC Jewelry and Decor or one of the many living rooms. tea and coffee from the region.

In downtown Albany, local shoppers have also been encouraged to sponsor local businesses and could even post selfies on Facebook with their purchases for the chance to win gift certificates to downtown businesses. # 39; Albany.

American Express launched Small Business Saturday in 2010 with the goal of focusing on local businesses during the five days from Thanksgiving to Cyber ​​Monday.

"We appreciate the fact that someone underlines small businesses because they are at the heart of this country, far more than your big box stores or Amazon," said Jack Yonally, a former B owner. Lodge and Co., who sold the clothing store to his son.

"(Saturday's small business) is more like" yoo-hoo. "Do not forget about us, we're a small business and we're a family-run business," Yonally said.

While large chain stores can provide customers with a wide selection of products and create jobs in the private sector for community members, the economic impact of purchases in locally owned institutions l & 39; outweighs the impact of purchases made at large retailers.

According to the American Express Small Business Economic Impact Study, 67 cents of every dollar spent on locally owned businesses remains in the same community.

Another study showed that for restaurant chains such as Red Lobster, Olive Garden and PF Chang's, only 30.4% of revenues remain in the local economy, compared to 77.7% of revenue Local restaurants, according to a study by Civic Economics, which analyzes the difference in economic impact between independent companies and major chains.

The study predicted that if consumers made a 10% transfer of channel purchases to locally owned establishments, the regional economy would retain an additional $ 475 million a year.

Expenses in a local business can cause an owner to potentially invest in the community by developing the business or hiring more employees.

The "revitalization" of downtown Troy was partly facilitated by the opening of small businesses, while older industrial buildings were converted into apartments.

This combination helped to make Troy a destination again, said Lee Glasheen, a Troy native who works at 3rd Street Potters.

Small businesses "help the makeup of the community because people will move here if it's a vibrant community," Glasheen said.

"I saw the many steps that the city has gone through," she said. "When I was a kid until the early '60s, (Troy) was so vibrant, there were so many shops, shops, … it was a wonderful city."

Glahseen said that this last era was different from that of Troy that she had known while growing up – although she was pleased with the progress made so far.

"It's a different type of revitalization, and I hope it will continue," Glasheen said. "The people who make the decisions, I think, are doing a good job right now."

Scott and Cherisse Ketchum, who said they were moving from Manhattan to Troy last spring, said the ability to walk in the neighborhood makes the area easily accessible and has contributed to the growth that the area has seen.

"When we started looking here, we felt in a great neighborhood atmosphere and that's what drew us to Troy," said Scott Ketchum. "(Saturday's small business) helps a lot … We usually buy in our neighborhood before looking elsewhere."

And another advantage? Small businesses are often a good place to find "unique" Christmas presents, Ketchum said.

For Yonally, small businesses all work together. When a guest goes to B. Lodge and Co., he can also have lunch at a nearby restaurant or get his haircut at the nearby barber shop.

Without "small businesses in this country, you will lose the income that goes into the community," said Yonally. "You look at a business like ours, we bring people downtown, and there is a bakery, a barber and a grocery store, and it's all a community effort."