After the hype: Small Business Saturday

ALBUQUERQUE (KRQE) - It's sandwiched between the long lines and hype of Black Friday and the loading times of Cyber Monday.

But people like Rufus Cohen, owner of Nob Hill men's clothing store Izzy Martin, are hoping Small Business Saturday won't be lost in the shuffle.

"A small store like ours can take a chance on style, you know, push the envelope a lot," Cohen said. "Communication for independent businesses is the challenge, just getting the word out."

His store is offering 20 percent off over the weekend to try and catch a boost in holiday shopping traffic.

Devon Thompson, owner of Broadway Skin & Body Retreat, a downtown Albuquerque spa, is giving out similar deals. Thompson says supporting small businesses helps customers do more than support Albuquerque.

"It helps us provide jobs for the community," Thompson  "It also helps us accomplish our dreams. All small business owners are really trying to make the American dream happen for them."

But for the city checkbook, Small Business Saturday is much more.

Albuquerque collects nearly two thirds of the revenue needed to run the city from gross-receipts taxes, effectively the sales tax. So far this fiscal year, gross-receipts taxes are down, meaning the city is on pace for a $10 million budget shortfall by the end of its fiscal year in June.

Shopping locally helps turn that tide by creating jobs and keeping business profits in Albuquerque where they're likely to recirculate in the local economy boosting other businesses and better funding local government.

"Get out to one of the local shops and spend your money right here in the city of Albuquerque," Albuquerque Mayor Richard J. Berry said. "We return [that money] to you in the form of public safety, police officers and firefighters, road repairs and all of the things that we do."

And Cohen says shopping locally doesn't have to be a chore.

"It's not just about supporting local businesses as an obligation but it's actually a lot more interesting, a lot more exciting to be exposed to some of the things that local merchants are providing," Cohen said.

Small Business Saturday was started in 2010 by credit card company American Express.