Locally owned shops supported on this Small Business Saturday

Staff file photo / R. Michael Semple
Greg Thumm, owner of Thumm & Co., an independent watchmaker in Warren, talks about his watches that stand the test of time in October 2021 at his shop on West Market Street.

WARREN — “Essential” is how Greg Thumm describes the support of the local community to the success of his small business — Thumm & Co., an independent watchmaker whose boutique pieces stand the test of time.

He also knows how critical word of mouth — good, bad or neutral — is for his still relatively new business he and his son opened in 2019 in downtown Warren.

“The local community has been wonderful as far as their support for what we are doing in the watch business,” Thumm said.

For businesses like his and hundreds of others in the region, local community support year-round is vital for their survival, and Saturday offers another opportunity to do business with a small business — vital gears in the local economy that do so much more to boost the communities in which they operate.

Small Business Saturday — founded by American Express in 2010 and cosponsored by the U.S. Small Business Association since 2011 — is a way to celebrate small businesses and all they do, as well as being a crucial part of their busy holiday shopping season.

BY THE NUMBERS

The reported projected spending 2023 in the U.S. from people who shopped at small businesses retailers and restaurants on Small Business Saturday was around $17 billion, according to a survey by American Express.

Over its 13-year run so far, the total reported spending at small businesses during the annual event has reached an estimated $201 billion, according to the financial services company.

The 2022 Small Business Economic Impact Study shows if every Gen Z and Millennial shopper spent $10 at a small business on Small Business Saturday, it would support $2 billion in local economic activity throughout the U.S., according to American Express’ website.

The website also states the study found 68 cents of every $1 spent at a small business in the U.S. stays in the local community and that every $1 spent at small businesses creates an additional 48 cents in local business activity as a result of employees and local businesses purchasing local goods and services.

The 2023 survey also highlighted that 59% of U.S. consumers aware of the day shopped or ate at a small, independently-owned retailer or restaurant on Small Business Saturday that year. Among those small business shoppers, the survey stated:

* 61% strongly agree they found a small business or independently-owned restaurant that they are likely to return and become a regular customer.

* 86% shopped in-store, and more consumers (53%) reported shopping online at small businesses than online at large retailers (34%) on the day.

* 41% shopped with family, friends or neighbors.

In Ohio, there are more than 90,000 small business retailers of nearly 990,000 small businesses in the states, according to data from the SBA.

“Small businesses are the backbone of our communities and play a major role in Ohio’s economic success,” Gov. Mike DeWine said in a press release. “Every dollar spent at a local small business goes toward strengthening our economy, creating jobs, and building community pride.”

LOCAL RETAILERS

Thumm, who sells the timepieces for what he would sell them at to one of the big box stores, said he relies on the buzz created by satisfied customers who spread the word about his product.

That type of talk, he said, “creates a level of trust” among consumers to give his watch brand a shot. He sells across the U.S. through the company’s website — thummco.com — but also has a great many customers in Trumbull and Mahoning counties.

“And we’re looking forward to selling more watches here in this fourth quarter,” he said.

To help — and in line with Small Business Saturday — Thumm is running a sale through Tuesday on certain men’s and women’s watches, including a new chronograph watch for men that launched in the spring.

“For a company that is close to the vest on cost, we can’t go too deep, but we are running that and that is kind of the way we are celebrating that Saturday (Small Business Saturday),” Thumm said.

Orders are taken online and at Thumm & Co.’s shop inside Thumm’s Bike and Clock, 330 W. Market St., Warren.

In Middlefield at 16403 Nauvoo Road is Countryside Furnishings, a family-run all hardwood custom furniture store.

“We actually do anything as far as furniture goes,” David Yoder, owner, said. “It’s top quality, it’s going to last most people their lifetime and their kids’ lifetimes.”

Support from the community, said Yoder, “would be right up there on top” for the survival of the business, which he acquired in 2020 from the original owner who retired. The store was established in 1999.

The wood used in the furniture is all sourced in the U.S., most of it from Ohio and surrounding areas, Yoder said.

Yoder said Saturday is typically the store’s busiest day, but there’s a bump in business on Small Business Saturday, perhaps the top Saturday of the year for Countryside.

The store has a website — countrysidefurnishings.com — but shoppers cannot order from it. In fact, that’s the way Yoder wants it and likes it because it fosters a personal interaction with customers.

“They can actually see the quality when they’re looking at the furniture versus the picture of the furniture and, at the same time, I think you can create a better relationship with the customer if you are talking to them in person,” Yoder said.

The Youngstown / Warren Regional Chamber, meanwhile, plans to actively remind the public and its members of Small Business Saturday through its social media and emailed newsletter.

About 90% percent of the chamber’s membership are small businesses, which the chamber defines as having less than 100 employees. Businesses with less than 30 employees account for about 80%.

“By shopping local at your small business, you’re helping out in quite a bit of different ways,” Joe Merlo, the chamber’s director of member engagement, said.

Doing so keeps the dollars local, helping the local economy thrive. Also, it’s those same small businesses that help a community thrive by employing neighbors and friends as well as supporting youth groups, sports teams, schools, churches and programs, Merlo said.

“These are the places that keep your neighborhoods alive and keep the local economy going,” Merlo said.