REUTERS/Shelby Tauber/File Photo
(New York, NY) – Today is Small Business Saturday. Small businesses owners are asking people on the hunt for holiday gifts to shop local today, but they also have another request: pay with cash or a debit card. Kelsey Erickson-Streufert with the Texas Restaurant Association says so-called “swipe fees” charged by credit card can eat into profits for small businesses.
The National Retail Federation expects more than 80% of shoppers – around 67 million – will buy from their local mom and pop shops today. Business owners tell American Express they net around 20% of their yearly profit on this day alone. This SBS comes on the heels of a trying year for small businesses, as 75% tell QuickBooks they have been hit hard by tariffs.
If you want to hear more about this stories and other headlines, listen to today’s News Hour Weekend Edition with Liz Rattoballi. You can download the audio as a podcast and listen anytime:
