IN SCHOLARSHIPS & GRANTS AWARDED ANNUALLY
Caribbean Life, NOV. 26-DEC. 2, 2021 21
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We are officially in the holiday
season. This weekend, the
shopper in many of us won’t be
able to resist checking out Black
Friday sales and other upcoming
holiday discount days. And
why not? Shopping is fun, and it
helps boost the economy.
Although the term “Black
Friday” was initially coined
after the crash of the U.S. gold
market on September 24, 1869, today,
the phrase is linked to post-
Thanksgiving retail shopping.
After operating at a financial
loss during the year, businesses
would make a significant profit
on the Friday after Thanksgiving
Day because holiday shoppers
flocked to the stores for
discounts. Store accountants,
writing dollar figures in red
ink in their ledgers to indicate
losses, replaced the red ink with
black to show a profit – and that
is why the Friday after Thanksgiving
Day is known as Black
Friday.
Black Friday has become
such a significant shopping
day in recent years; retailers
opened their doors the night before
to shoppers who would race
from the Thanksgiving dinner
table to stores for bargains on
electronics, home furnishings,
clothes, toys, holiday gifts, and
decorations. However, COVID-19
guidelines prohibited large
gatherings last year, and many
of us turned to our computers
and smartphones to shop online.
Major retailers didn’t miss
a change in our shopping habits
as they posted ads and coupons
online in advance and extended
Black Friday sales through December
24.
Although it is not an official
holiday, most employers, except
retailers, give their employees
the day off after Thanksgiving.
This gave way to an opportunity
that has evolved in Small Business
Saturday. Since 2010, Small
Business Saturday is an annual
event that focuses on holiday
shopping at local, independently
owned and operated businesses
in our communities. Just as
Black Friday helps major retailers,
Small Business Saturday
draws attention to the importance
of small businesses in our
local economy; and it has been
a success. According to a U.S.
Small Business Administration
release, consumers spent an estimated
$19.8 billion at independent
retailers and restaurants
during the annual Small Business
Saturday in 2020, up from
$19.6 billion the previous year.
For small businesses that
need a little more help to bounce
from pandemic, the New York
State COVID-19 Pandemic Small
Business Recovery Grant Program
was created to provide
flexible grant assistance to currently
viable small businesses,
micro-businesses and for-profit
independent arts and cultural
organizations in the State of
New York who have experienced
economic hardship due to the
COVID-19 pandemic. For more
information visit https://nysmallbusinessrecovery.
com.
Kingsborough Community
College’s Career Services Department
provides access to a
pool of current students and
alumni who can fill jobs in local
small businesses during
the holiday rush. And business
owners can brush up on a host
of skills and certifications, from
food handling to OSHA (Occupational
Safety and Health Administration)
standard/regulation,
through courses offered through
Kingsborough’s Continuing Education
programs.
Happy holidays and enjoy
your shopping experience this
season, knowing that you will
make a positive impact on the
economy and in the lives of
small business owners.
Dr. Claudia V. Schrader is
president of Kingsborough Community
College (KCC), a 72-acre
academic oasis in beautiful Manhattan
Beach, Brooklyn that offers
students over 50 academic
programs, 100 percent online degrees
and affordable two-year
degrees for their future. For more
information about Kingsborough,
visit the website at www.
kbcc.cuny.edu.
EDUCAT I O N PROFI LE
‘Tis the Season to Make A Positive Economic Impact
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