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Small Business Saturday Hopes to Bring Rejuvenation to Small Retail Shops
Published on Nov 22, 2010
Check out 'Small Business Saturday Hopes to Bring Rejuvenation to Small Retail Shops' at 'Time to Start Up,' the small business blog by BizFilings.
American Express OPEN unveiled last week its plans to turn November 27, the Saturday after Thanksgiving, into a shopping holiday aimed at supporting America's small business retailers and services.
"Small Business Saturday" is being sponsored by a number of large companies and organizations including Facebook, the 3/50 Project and Yelp and will help small companies earn some much needed revenue during the year's busiest shopping season.
"Small business is the engine of job creation in the US economy," said Kenneth I. Chenault, chairman and CEO of American Express. "It is also among the sectors hardest hit by the recession. By spreading the word about Small Business Saturday, we can help raise awareness about the critical role small businesses play in cities and towns across the country at a time when they need support the most."
The New York financial services giant also announced plans to donate $1 up to $500,000 to women's entrepreneurial advocacy group Girls Inc. for every "Like" the Small Business Saturday Facebook group receives. As of Wednesday, there were more than 207,000 people linked to the event.
U.S. small businesses employ more than half of all private sector employees - a statistic that has caused activity in the sector to reflect unemployment rates as well as national economic growth, while firmly grounding economic prospects alongside small business viability.