Updated: November 29, 2019 10:28 PM
Created: November 29, 2019 10:12 PM
ALBUQUERQUE, N.M. - After turkey and Black Friday, locally-owned businesses hope to see an increase in shoppers during Small Business Saturday.
Sales hit a record of $17.8 billion in 2018, according to American Express which created the event back in 2010.
Meantime, in Nob Hill, businesses told KOB 4 they’re ready for locals to show their support.
"Small Business Saturday is definitely our bigger day,” said Kathie Olivas, owner of Stranger Factory.
“We don't get as much Black Friday customers. People tend to be in the malls trying to get their $20 TV sets. Here it’s more mom and pop shops where you’re supporting the local community.”
Officials with the Small Business Administration told KOB 4 that 67 cents of every dollar spent at small businesses stay in the community.
"A lot of small businesses actually give back to the community because they live within the community,” said Merico Zanotti, an economic development specialist with SBA.
“So they earn their money and then they go back out and they shop, support other local, small businesses. It's like an eco-system,” he added.
In New Mexico, Small Business Saturday is also considered a tax-free holiday.
Businesses with 10 or less employees can sell clothing, books, video games and tools tax free.
For more information on what items are tax free, click here.
The city’s ART buses are also scheduled to debut on Saturday and will be free to ride for the rest of the year.
Copyright 2019 - KOB-TV LLC, A Hubbard Broadcasting Company