OPINION: The power of small business: Shop local this holiday season

As the holiday season approaches, one day stands out for its potential to shape the future of our communities and economy: Small Business Saturday. Celebrated on the Saturday after Thanksgiving, this annual event offers more than an opportunity to check off items on your holiday shopping list — it’s a critical reminder of the important role small businesses play in Alaska’s economy.

On Nov. 30, we encourage every Alaskan to reflect on the impact their spending has on our local economy. While major retailers and online giants often grab headlines, it’s the thousands of small, independently owned businesses across Alaska that truly sustain our communities. From cozy coffee shops in Juneau to family-run hardware stores in Bethel, these businesses don’t just provide goods and services — they foster strong communities, support local jobs and keep our economy anchored in local values.

The backbone of Alaska’s economy

Small businesses are more than a charming part of Alaska’s identity — they are the backbone of our economy. As of 2024, over 99% of Alaska’s businesses are classified as small, employing nearly 140,000 Alaskans. These businesses contribute billions of dollars to the state’s economy and are a driving force behind innovation, tourism and local pride.

Yet, small businesses face unique challenges here: geographic isolation, high transportation costs and workforce shortages add pressure to small businesses. Despite these hurdles, Alaskan small business owners remain among the most resilient and innovative individuals we’ve ever encountered, constantly adapting to meet the needs of our diverse communities.

If each Alaskan shifted just a portion of their holiday spending toward small businesses, the ripple effect would fuel our local economies and help ensure that these independent businesses continue to thrive. When you shop at a small business, your dollars stay in Alaska: 63 cents for every dollar, compared to 22 cents when spent with a national chain, supporting not only other local businesses but also schools, public services, nonprofits and infrastructure.

Whether it’s handmade crafts from a rural Alaska artisan, fresh-caught seafood from a Ketchikan fishmonger or outdoor gear from a Fairbanks outfitter, Alaska’s small businesses offer something no national chain or online platform can replicate: authenticity and a deep connection to our community.

How to support Alaska’s small businesses

• Use the BuyAlaska directory: Check it out to find businesses online and in your community, and take a look at the 2024 Holiday Gift Guide.

• Shop and celebrate Downtown: Follow the Anchorage Downtown Partnership’s Small Business Saturday map for deals, prizes and events. Then kick off the holiday season with Anchorage’s Holiday Tree Lighting!

• Support co-ops: Explore the Alaska Cooperative Development Center’s list of Alaskan co-ops and shop local, online, or in person!

• The Visit Anchorage local guide is perfect for those thinking about holiday shopping.

• Support 20-plus Set Up Shop entrepreneurs at the Anchorage Community Land Trust and The Nave’s Small Business Saturday Market on Nov. 30.

Looking to the future

As we celebrate Small Business Saturday 2024, it’s important to remember that our support for local businesses shouldn’t end when the holiday season does. Alaska’s economy relies on strong, locally owned enterprises year-round. By consistently choosing to spend locally, we’re creating a more resilient, self-sustaining economy that can weather Alaska’s unique challenges.

Alaskans are known for their resourcefulness and community spirit. Small Business Saturday is a chance to put that spirit into action, showing that we value not just the goods and services provided by local entrepreneurs but the hard work, dedication, and uniqueness they bring to our communities.

On Nov. 30, we invite you to make a meaningful impact by shopping locally. Together, we can ensure that small businesses remain the heart of Alaska’s economy, driving growth, innovation, and community for generations to come.

Jon Bittner is state director of the Alaska Small Business Development Center at the University of Alaska Anchorage.

Christi Bell is associate vice chancellor and executive director of the Business Enterprise Institute at UAA.

Radhika Krishna is executive director of the Anchorage Downtown Partnership

Kathleen McArdle is president and CEO of the Anchorage Chamber of Commerce.

Barbara Johnson is executive director of the Alaska Cooperative Development Center at UAA.

Alyssa Rodrigues is executive director of the Alaska Manufacturing Extension Partnership at UAA.

Jared Reynolds is executive director of the Center for Economic Development at UAA.

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