COLUMN: This year’s Small Business Saturday may be the most critical in history

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Small Business Saturday is a relatively new American tradition. While Black Friday has been an informal holiday for more than 60 years, it wasn’t until 2010 that the Saturday after Thanksgiving earned its official title, designating it as a day to shop local and support hometown retailers.In a year where businesses have faced profound challenges due to the COVID-19 pandemic, this year’s Small Business Saturday may be more critical than ever before. In fact, many locally owned retailers earn upwards of 50 percent of annual revenues during the period between Thanksgiving and Christmas. As precautions have been taken to slow the spread of the coronavirus, many restaurants, retailers and service businesses are concerned that benchmark will be hard to achieve.As the voice of America’s entrepreneurs, the U.S. Small Business Administration (SBA) celebrates the nation’s 30 million small businesses that ignite our local economies and enrich our communities, and has worked diligently throughout the pandemic to provide essential programs and lifelines that have kept businesses viable. The agency’s administration of the successful Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs injected nearly a trillion dollars into the American economy and sustained millions of businesses …

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