NFIB encourages shoppers to support small businesses during sales tax holiday
AUSTIN, Texas – The state’s upcoming sales tax holiday on clothes and school supplies is a good opportunity for people to shop small and support the local economy, said Annie Spilman, state director of NFIB, the nation’s leading small business advocacy organization. The sales tax holiday is Aug. 9-11.
“Our retail members like it because the sales tax holiday when you combine it with the back-to-school sales, puts people in the mood to shop,” Spilman said.
“NFIB is reminding shoppers that the sales tax holiday applies to Main Street as well as the shopping mall,” Spilman said. “Even if you don’t need school clothes or backpacks, you’ll still save money by shopping during the sales tax holiday, and you’ll find one-of-a-kind deals, not to mention great service, when you shop small.
“When you shop small, you’re supporting the businesses that support our schools and charities and create jobs in our communities,” Spilman said. “Studies show that for $100 spent at locally-owned businesses, $68 stays in the community, compared with only $43 if you spent the same amount at a chain store.”
This year’s sales tax holiday comes at a time when small-business optimism has declined. The widely-followed NFIB Small Business Optimism Index dipped 1.7 points last month to 103.3, according to the latest NFIB Small Business Economic Trends report. State-specific data is unavailable. Overall, although small business optimism remains near historic levels, sales expectations and profits declined in June as uncertainty increased to levels not seen in over two years.
“Small business is the heart and soul of the Texas economy,” Spilman said. “When people go shopping next weekend, we hope they shop local and shop small.”