An Assembly Resolution urging all New Jersey residents to observe and support "Small Business Saturday" on November 29, 2014.

Whereas, There are approximately 790,000 small businesses operating in New Jersey, of which 597,000 are nonemployer firms, and more than 192,000 are firms which employ an estimated 1.73 million individuals in this State, with an annual payroll of more than $75 billion; and

Whereas, These small businesses are the backbone of our State, providing services and employment to individuals throughout the State in such varied industries as finance, health care, the arts, real estate, manufacturing and retail, among many others; and

Whereas, November 29, 2014 is being promoted as the fifth annual national "Small Business Saturday," and New Jersey residents, along with consumers across the country, are encouraged to support this promotion and to make purchases for the holiday season from small businesses in their own communities; and

Whereas, Traditionally, the day after Thanksgiving, known as "Black Friday," is the beginning of the holiday shopping season, particularly for large stores that have the resources to promote sales; and

Whereas, More recently, large businesses have begun to promote the Monday after Thanksgiving as "Cyber Monday," a day on which businesses offer reduced prices for on-line purchases to capture the holiday shopping market; and

Whereas, Smaller businesses do not have the resources available to advertise and promote their businesses to the same extent as those businesses promoting "Black Friday" and "Cyber Monday" and therefore, the American Express Company initiated "Small Business Saturday" in 2010; and

Whereas, As part of "Small Business Saturday," the company provides financial incentives to a limited number of consumers through a $25 credit on their American Express credit cards for qualified purchases made from participating small businesses on "Small Business Saturday;" and

Whereas, Registered small businesses may receive financial incentives through subsidized advertising provided by the American Express Company and generally increased awareness of shopping at small businesses through a broad advertising campaign developed, produced and implemented by the American Express Company during the month of November; and

Whereas, All of these activities are intended to promote shopping and increase sales at small businesses, assisting them to thrive in the competitive marketplace; now, therefore,

Be It Resolved by the General Assembly of the State of New Jersey:

1. The residents of the State of New Jersey are encouraged to observe and support "Small Business Saturday" on November 29, 2014, by patronizing small businesses in their communities.

2. Duly authenticated copies of this resolution, signed by the Speaker of the General Assembly and attested to by the Clerk thereof, shall be transmitted to the Governor of New Jersey, the Lieutenant Governor of New Jersey and the Chief Executive Officer of the New Jersey Economic Development Authority.

STATEMENT

This Assembly Resolution encourages the residents of New Jersey to support and observe the fifth annual "Small Business Saturday" on November 29, 2014, a day that is promoted by small businesses to encourage residents to purchase holiday gifts at smaller stores and businesses in their local communities.

There are approximately 790,000 small businesses operating in New Jersey, of which 597,000 are nonemployer firms, and more than 192,000 are firms which employ an estimated 1.73 million individuals in this State, with an annual payroll of more than $75 billion. These small businesses are the backbone of our State, providing services and employment to individuals throughout the State in such varied industries as finance, health care, the arts, real estate, manufacturing and retail, among many others.

"Small Business Saturday" was initiated by the American Express Company in 2010. The program offers incentives to consumers through additional credit on their credit cards for purchases made on that Saturday in registered small businesses. Furthermore, small businesses benefit through subsidized advertising activity intended to promote shopping at local, small businesses.