As part of an effort to induce sales for independent merchants,
the chief executive officer of American Express (
) said his corporation will stand behind and market the
establishment of a day devoted to small businesses,
the Associated Press reports
As a follow up to Black Friday and Cyber Monday, "Small Business
Saturday" will kick off the weekend immediately after Thanksgiving,
the unofficial beginning of the holiday shopping season. Kenneth
Chenault spoke at a Monday news conference at the New York city
hall with Mayor Michael Bloomberg.
"And now, starting on Nov. 27 of this year, small business owners
will have Small Business Saturday," Chenault said.
Large retailers have turned the Friday after Thanksgiving into a
significant shopping day and online retailers during the past
several years have been hocking bargains on the following Monday,
so establishing a day for small businesses is important, both the
chief executive and the mayor said.
Small businesses "are the backbone of our economy and the glue that
holds communities together," Bloomberg said.