The holiday was created in 2010 by American Express in hopes to promote local businesses.
According to American Express, about $14.3 billion dollars was spend on small businesses in 2014, which is a 15 percent increase from the year before.
Thanksgiving weekend is one of the busiest times of year at Carter's Jewelry in Petal.
The family owned business has been preparing for months.
"We have hand selected pieces of jewelry all over the country," owner Chae Carter said. "It's all come in. We've priced it, got it out. You can see the decorations in the store."
The store will participate in Small Business Saturday this weekend.
Carter said shopping local brings money back to the community.
"If everyone shops local it keeps everyone they know in the community," Carter said. "Helps, their friends and their family in businesses with jobs and then it helps us to be able to help the local community."
On Saturday the store is offering a discount to any customer that participates in "Be a Santa to a Senior."
"It's got their wish list items on the back and it will be basic items like t-shirts or a pack socks and if you take one of those and fill it out you will get up to 30 percent off anything in the store and everything will be marked," Carter said.
Shopping local during Thanksgiving weekend can be less hectic than shopping at major retail stores.
"It's convenient for my time span," customer Emma Tiggs said.
"If I have something to do I can put the food on and pick it up and go back."
American Express has a Shop Small tool that lists all local businesses in the area.