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The impact of Boston small business jobs

Posted on January 31, 2018

The impact of Boston small business jobs is critical to the overall economy.

“Our local retailers and small businesses are critical to Massachusetts small towns and major cities,” said Governor Charlie Baker. “Shopping local helps build our local economies and support the businesses who employ 1.4 million Massachusetts residents.”

“We encourage families across Massachusetts to support their local retailers as the holiday season begins,” said Lt. Governor Karyn Polito. “Our small businesses drive regional growth and bring unique, local offerings to our Commonwealth. We’re proud to highlight this integral part of our economy.”

For every dollar spent locally, 68 cents stays local, compared to just 43 cents spent at national retailers. The Retail Association of Massachusetts (RAM) has initiated a #BuyInMA social media campaign to remind residents to shop local. Massachusetts Small Business Weekend also runs alongside Small Business Saturday, an annual campaign by American Express and the U.S. Small Business Association.

“Main Streets and small shopping districts in our cities and towns are of the heart of the Massachusetts economy,” said Housing and Economic Development Secretary Jay Ash. “When our small businesses prosper, they create more jobs, build economic success and offer new opportunities to burgeoning and long-standing industries here in Massachusetts.”

According to RAM, consumer spending represents 70 percent of the economy. The holiday sales season historically represents on average 20 percent of annual retail sales, with some stores seeing 25-30 percent of their sales during the period.

“By shopping in Massachusetts this holiday season, we support local businesses and their employees, while also generating tax revenue in communities across the Commonwealth,” said Assistant Secretary of Business Development and International Trade Nam Pham.