The U.S. Small Business Administration (SBA) has announced that it has ushered in the SBA’s second-annual Season of Small Business campaign. The SBA said in a statement, “In the last four years, America has seen unprecedented entrepreneurialism with a record 20 million business applications filed. These businesses span all industries and geographies. They are run by individuals of all backgrounds and experiences. Yet they are united by a singular belief in what is possible.” The SBA continued, “Compared to the world’s economies, America has also seen continued strength in consumer spending throughout the last four years—and we are expecting this important holiday season to deliver even higher spending levels than last year’s impressive $955.6 billion. The holidays are the busiest time of the year for so many small businesses that rely on the surge to meet their annual revenue goals. 

“Whether you’re shopping for gifts online from a family-owned boutique or warming up over a hot cocoa at a local cafe, two-thirds of every dollar spent at a small business goes back into your community. As families across America gather together to enjoy this special time of year, the SBA encourages everyone to power their dollars with local impact by shopping, dining and entertaining small throughout the Season of Small Business,” the SBA said.

Small businesses are a crucial part of local economies and communities—they are responsible for more than 40 percent of America’s economic output and two-thirds of net new jobs. In the last four years, there has been a Small Business Boom with more than 20 million new business applications nationwide, according to the SBA.

For more information about the SBA’s Season of Small Business campaign, click here. To learn more about the SBA’s loan programs, financial assistance and other services, click here.