A shopper’s guide to earning rewards on Small Business Saturday 2023
The U.S. Small Business Administration (SBA) says that Small Business Saturday is “a day to celebrate and support small businesses and all they do for their communities.” This means showing small businesses financial support, either by utilizing their paid services or shopping for items (including holiday gifts) in their stores.
Fortunately, consumers can get something in return for their spending on Small Business Saturday, which falls on Nov. 25, 2023. While this shopping holiday intends to promote spending at small establishments, savvy shoppers can seize the opportunity to score a boost in credit card rewards.
If you have a holiday shopping list to check off and want to spend money close to home, you should plan to take advantage. According to a Bankrate survey, 61% of holiday shoppers intend to primarily shop on Small Business Saturday this year.
What is Small Business Saturday?
Founded in 2010 by American Express, Small Business Saturday is part of the Amex “Shop Small” movement. American Express notes that Shop Small began with the creation of Small Business Saturday. However, it has grown into a movement that helps keep communities vibrant and thriving through supporting small businesses all year round.
To help the movement progress, American Express lists participating small businesses on its website, which you can search based on your location or the business name. While Small Business Saturday participants will vary depending on where you live, you can usually choose among family-owned restaurants, small shops, local museums, breweries and more.
According to the 2022 Small Business Saturday Consumer Insights Survey commissioned by American Express, consumers who shopped at independent retailers and restaurants on Small Business Saturday spent approximately $17.9 billion that year.
Best credit cards for shopping on Small Business Saturday 2023
To make the most out of Small Business Saturday 2023, you can shop at small boutique stores in your area, dine at locally-owned eateries and seek out other small businesses online. While you can pay for your purchases with an Amex credit card, note that you can earn credit card rewards and support small businesses if you pay with cards from other issuers, too.
Here are some of the best credit cards for shopping on Small Business Saturday 2023:
How to maximize your credit card rewards on Small Business Saturday
If you want to help local businesses and boost your rewards haul in the process, there are plenty of steps you can take. Consider these tips to maximize credit card rewards on Small Business Saturday and beyond.
Start spending toward a new welcome bonus offer
If you’re reading this early enough, you may still have time to sign up for a new rewards credit card that has a bonus offer worth $200 or more. Signing up now could help you maximize the rewards you earn on Small Business Saturday, as well as on all your holiday shopping through the end of the year.
Take the time to compare rewards credit cards based on their welcome offers, including their respective minimum spending requirements. To get the most out of these offers, you should make sure you can meet a minimum spending requirement with regular, organic spending and bills.
Utilize bonus rewards categories when you can
If you have several different rewards or cash back credit cards, you should make sure you’re using the right card for each small business purchase. If you have a rewards credit card that offers bonus rewards on dining, for example, then using it for a lunch out at your favorite family-owned restaurant is a smart move.
Maybe there’s a small, family-run grocery store or deli in your area. In that case, you would want to use a card that earns boosted cash back at U.S. supermarkets, such as the Amex Gold Card or Blue Cash Preferred.
Online purchases also count
Remember that online shopping also counts toward Small Business Saturday (although you may be limited in terms of small businesses with e-commerce platforms). Either way, you can use your rewards credit cards to order takeout on a small business restaurant website or to order items for pickup or delivery from your favorite small retailer.
The bottom line
Small Business Saturday is a shopping event that intends to bolster sales and engagement with small businesses instead of the big box stores. When you choose to “shop small” on Nov. 25 this year, you get the chance to spend money in your local community where it will count the most. Fortunately, you can help small retailers and eateries while enriching yourself with the right rewards credit card.
