South Dakota shoppers urged to back local businesses on Small Business Saturday – Valley News Live

Report on the Economic and Sustainable Development Impact of Small Business Saturday in South Dakota

1.0 Executive Summary

The National Federation of Independent Business (NFIB) has issued a formal call for consumers in South Dakota to participate in Small Business Saturday on November 29. This initiative encourages patronage of local establishments to bolster the regional economy, which is currently facing significant challenges. This report analyzes the initiative’s direct alignment with several key United Nations Sustainable Development Goals (SDGs), particularly those concerning economic growth, sustainable communities, and responsible consumption.

2.0 Alignment with Sustainable Development Goals (SDGs)

The “shop local” movement, as promoted by the NFIB, is a practical application of principles outlined in the UN’s 2030 Agenda for Sustainable Development. The primary contributions are linked to the following goals:

• SDG 8: Decent Work and Economic Growth: Supporting small and medium-sized enterprises is a core target of SDG 8. By directing consumer spending towards local businesses, the initiative directly fosters job creation, promotes local culture, and contributes to sustainable economic growth within South Dakota’s communities. This is critical given recent economic data indicating a downturn in sales.
• SDG 11: Sustainable Cities and Communities: Local businesses are integral to the economic and social fabric of communities. As noted by NFIB State Director Jason Glodt, these enterprises invest in local infrastructure, schools, and community activities, thereby enhancing the inclusivity, safety, and resilience of towns and cities across the state.
• SDG 12: Responsible Consumption and Production: Choosing to purchase from local vendors supports shorter supply chains, which can reduce transportation-related emissions and promote more sustainable patterns of consumption. This consumer behavior is a key driver for achieving the objectives of SDG 12.

3.0 Economic Context and Initiative Background

The call to action is underscored by recent economic data and the historical success of the initiative.

1. Current Economic Climate: According to the NFIB’s October Small Business Optimism Report, a net negative 13 percent of business owners reported higher sales over the past three months, marking a six-point decline from September.
2. Initiative History: Small Business Saturday was established in 2010 as a mechanism to support local economies in their recovery from the Great Recession.
3. National Impact: The initiative has demonstrated significant economic influence, with U.S. shoppers spending an estimated $22 billion at locally owned businesses during the event last year.

4.0 Conclusion and Recommendation

The NFIB’s campaign for Small Business Saturday represents a significant opportunity to advance local economic resilience and sustainable development in South Dakota. Consumer participation on November 29 is recommended as a direct investment in the state’s progress towards achieving SDG 8 and SDG 11. Each purchase contributes to a more robust and sustainable local economy, ensuring that economic prosperity is shared at the community level.

Which SDGs are addressed or connected to the issues highlighted in the article?

SDG 8: Decent Work and Economic Growth

• The article focuses on the economic challenges faced by small businesses, such as declining sales, and promotes an initiative, “Small Business Saturday,” aimed at boosting their performance. This directly relates to promoting sustained, inclusive, and sustainable economic growth by supporting local enterprises, which are significant sources of employment. The text highlights the goal to “boost sales and strengthen local economies.”

SDG 11: Sustainable Cities and Communities

• The article emphasizes the integral role of small businesses in community life, describing them as the “backbone of our communities.” It notes their contributions beyond the economy, stating, “They invest in our towns, our schools, and our little league sports.” Supporting these businesses helps make communities more resilient, inclusive, and sustainable.

What specific targets under those SDGs can be identified based on the article’s content?

Under SDG 8: Decent Work and Economic Growth

• Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises.
• Explanation: The “Small Business Saturday” initiative is a clear example of a development-oriented action that encourages the growth of small enterprises. The article’s call to “support local businesses” and “choose to shop local” directly aligns with the goal of fostering entrepreneurship and the economic viability of small businesses.

Under SDG 11: Sustainable Cities and Communities

• Target 11.a: Support positive economic, social and environmental links between urban, peri-urban and rural areas by strengthening national and regional development planning.
• Explanation: The initiative promotes strengthening local economies by encouraging residents to spend money within their own communities. The article states that every purchase “sends a powerful investment directly into South Dakota communities,” which directly supports the positive economic and social links within those areas, as outlined in this target.

Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Indicators for Target 8.3

• Small Business Sales Trends: The article provides a specific data point from the “NFIB’s October Small Business Optimism Report,” stating that “a net negative 13 percent of owners reported higher sales over the past three months.” This figure serves as a direct indicator of the economic performance and health of small businesses.
• Total Spending at Small Businesses: The article mentions a key performance indicator for the “Small Business Saturday” initiative: “Last year, shoppers spent an estimated $22 billion at locally owned businesses across the U.S.” This quantifiable data point measures the financial impact of consumer support for small enterprises.

Indicators for Target 11.a

• Direct Financial Investment in Communities: The article implies that the total sales generated on Small Business Saturday can be used as an indicator of community investment. The statement that every purchase is a “powerful investment directly into South Dakota communities” suggests that tracking local sales figures is a way to measure the strengthening of local economic links.

SDGs, Targets, and Indicators Analysis

Source: valleynewslive.com