Hi, I’m Meg, founder of Fempreneurs South Africa a marketplace community for female entrepreneurs.
I want to share a vision close to my co-founder’s and my heart. This year, South Africa’s Black Friday spending is expected to surpass a staggering R88 billion, including R22 billion in direct retail revenue. It’s a huge opportunity which we should leverage intentionally. Imagine if a portion of that spending flowed into the hands of small, local businesses. The impact would ripple across families, communities, and our economy in ways far beyond a single shopping day.
Why Small Businesses Deserve Our Attention
Small businesses are the backbone of our economy, contributing 34% to GDP and employing half our workforce. Yet, they often get overshadowed by the massive marketing budgets of big retailers during Black Friday. Every Rand spent at a local business stays in our community, with up to 70% reinvested locally, fueling growth and job creation.
Supporting small businesses—especially those in rural areas—is empowering in a country where unemployment is rife. It’s about creating opportunities, reducing inequality, and building something we can all be proud of.
Enter #ColourFriday🌈
That’s why we’re passionate about #ColourFriday🌈, a movement that shifts the focus from mindless consumption to conscious spending. On 29 November 2024, Colour Friday encourages us to celebrate and support local makers, artisans, and small businesses.
Internationally, this Movement has proven transformational. In the UK alone, Colour Friday emerged as a creative, sustainable response to Black Friday, redirecting billions toward independent businesses and reducing waste. Globally, it’s inspiring shoppers to value handmade, unique products over mass-produced items.
Here in South Africa, joining Colour Friday through platforms like Fempreneurs is an opportunity to reimagine Black Friday—not as a day of excessive spending but as a meaningful investment in our economy and people.
Why Supporting Colour Friday Will Benefit the South African Economy
This Black Friday, embracing #ColourFriday🌈 could significantly benefit South Africa’s economy by redirecting spending from large multinational corporations to local small businesses. Here’s how:
- Keeps Money Local
When you spend locally, up to 70% of the revenue stays within the community, compared to just 5% from multinational retailers. This local reinvestment fuels growth, boosts public services and creates opportunities for local suppliers, artisans, and other small enterprises.
- Job Creation
Small businesses account for nearly 50% of South Africa’s workforce. By supporting them during Colour Friday, consumers help preserve existing jobs and create new ones in sectors struck by economic challenges, including youth unemployment.
- Economic Resilience
Local businesses are more likely to source products and services from other local providers, creating a multiplier effect that strengthens the economic fabric. Supporting them diversifies the economy, reducing dependence on imports and global supply chains.
- Stimulates Innovation
Small businesses are hubs of creativity and innovation. Investing in them supports their growth and encourages more entrepreneurs to take risks and contribute to a vibrant, diverse economy.
- Reduces Economic Leakage
South Africa loses significant revenue through economic leakage when money is spent with foreign corporations (a huge influx experienced this year). Colour Friday minimizes this by encouraging local spending and ensuring that profits remain within the country to benefit communities.
- Promotes sustainability
Colour Friday challenges the wasteful culture of Black Friday. Supporting local, often handmade or ethically sourced products reduces the environmental impact, aligns with sustainable practices, and fosters a circular economy.
A Call to Action
South Africans could inject billions into our economy by shifting even 10% of the projected R22 billion Black Friday spend toward small businesses. This grassroots economic boost would not only address unemployment and inequality but also build a more inclusive, self-reliant nation.
This Colour Friday, choose to be part of a movement that turns shopping into an act of empowerment, sustainability, and community. Together, we can create lasting economic and social impact.
How You Can Make a Difference
Here’s how you, the shopper, can take part:
- Shop Small: Visit community eCommerce platforms like Fempreneurs or local markets (virtual and physical) to discover unique, high-quality products. Every purchase supports a dream.
- Spread the Word: Share your finds on social media and tag the businesses you love. Use hashtags like #ColourFriday🌈 and #ShopConsciously to amplify their reach.
- Gift Locally: This holiday season, choose thoughtful, handmade gifts. It’s a win for creativity and sustainability.
- Think Beyond Discounts: Small businesses offer value in service, quality, and originality. Their brand is forged here, building communities instead of just savings.
- Shop Purposefully: Shop in a way that reflects our values. Reject mass consumption and instead choose Christmas gifts from SA independents.
How Businesses Can Join the #ColourFriday🌈 Movement
For my fellow entrepreneurs, this is your time to shine!
Here’s how to bring Colour Friday to life:
- Offer Colourful Discounts: Yes, you can offer specials! Just add a creative spin with vibrant, themed promotions. Oh, and avoid using #blackfriday, instead use #ColourFriday🌈 and #shopconsciously hashtags.
- Go Live with Pop-ups: Host a local event or stream live to connect directly with customers.
- Show Your Personality: Make packaging colourful, include heartfelt notes, or design an Insta-worthy storefront.
- Share the Love: Tag and uplift fellow small businesses—it’s about community, not competition.
This November, let’s paint the town with purpose. Together, we can transform shopping into an act of empowerment, proving that commerce can be colourful, community-driven, and filled with heart.
Let’s make this #ColourFriday🌈 one to remember. Are you in?