November 24, 2018 is Small Business Saturday, an important date at the end of the federally recognized National Entrepreneurs Month of November in the United States. Small Business Saturday is a significant annual date for IBA & its client base of owners of privately held companies and family owned businesses. It is the traditional local start date of the holiday shopping season, a time period of high customer activity that can generate as much as 40% of the annual revenue for a retail business.
I encourage you to “Shop Local” this holiday season. The reasons to “Shop Local” include the following:
- Entrepreneurs provide valuable products & services in a community that fill important gaps between what can be bought online and from publicly traded companies. Part of the fun of the holiday season is finding the right gift for a family member or friend. Local retailers offer unique & specialized products not found easily elsewhere.
- Local business owners employ members of our communities. A significant percentage of people work for local, privately owned companies. The foundation supporting the ability to provide these “short commute” job opportunities is business profitability. Failure to shop local by a community can result in business closures, diminished full & part-time jobs, and a lack of diversity in shopping opportunities.
- Local businesses contribute to the quality of life. Friendships are enhanced by shared experiences. A common shared experience is shopping or dining with friends and family members. It is my assumption that every one of the individuals reading this article can think of a holiday season shopping or dining experience memory that will make you smile. 2018 offers a wonderful opportunity to create some more “magical” moments with friends & family at a local retailer or restaurant.
- Local businesses contribute to the tax base of a community. Sales and business & occupational taxes are two of the most significant taxes contributing to the provision of state & municipal services. A robust tax base benefits everyone in a community. Local & state governments cannot provide needed services without the collection of taxes.
IBA, as the oldest business brokerage firm in the Pacific Northwest, has a reputation for facilitating “win-win” transactions in an environment of full disclosure while employing “best practices”. IBA, exclusively represents the sell side of business sale transactions for its clients, but at the same time receives great pleasure as a firm hearing about the future success of business buyers who have purchased businesses from IBA after the sale is completed. The success of these entrepreneurs is very important to IBA, as we view each of these individuals as a future potential customer for IBA. The strongest testimonial a business buyer can provide IBA that it facilitated the sale of a quality business at a fair price is to see the new business owner thrive and eventually return to IBA to sell their business. Every year IBA successfully sells businesses a 2nd, 3rd, 4th, or 5th time for clients. Business continuity success speaks to the quality of the businesses sold by IBA. The number of times we have resold businesses speaks to the IBA’s longevity in the marketplace as a business brokerage firm. IBA celebrates its 44th year as the premier business brokerage firm in the Pacific Northwest in 2019.
The businesses successfully sold by IBA that are an easy drive from our corporate headquarters in Bellevue that offer products that would enhance any holiday experience range from City People’s Mercantile & Kitchen ‘n Things to Natural Pet Pantry & Civilized Nature and from Black Pine Spas & Foryu Furnishings to Byen Bakeri & Seattle Flowers. I encourage you to grab a friend or family member this Saturday and support Small Business Saturday in your local community as a customer. The dividends of spending money locally are received by all.
IBA, the Pacific Northwest’s premier business brokerage firm since 1975, is available as an information resource to the media, business brokerage, and mergers & acquisitions community on subjects relevant to the purchase & sale of privately held companies and family owned businesses. IBA is recognized as one of the best business brokerage firms in the nation based on its long track record of successfully negotiating “win-win” business sale transactions in environments of full disclosure employing “best practices”.