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Small Business Saturday Hailed As A Success

Written by Ken Gaebler
Published: 12/6/2010

130 business organizations join American Express in sponsoring the holiday

One of the newest holidays focused on helping local businesses throughout the country is celebrating the completion of its first promotional event.

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The inaugural Small Business Saturday, which took place on November 27th and was sponsored by American Express, was hailed as a success in a recent statement by the credit card company. A total of 130 small business organizations joined American Express in helping to ring in the shopping holiday, which came between Black Friday and Cyber Monday. The holiday was helped by the excitement on various social media platforms, including gaining 1.2 million Likes on Facebook and 30,000 tweets.

"Small Business Saturday helped create broad awareness of the importance of supporting the independent small businesses that are so vital to our communities,” said Kenneth I. Chenault, chairman and chief executive officer for American Express regarding the news for small businesses. “We are pleased with the momentum American Express Cardmembers helped create for small business retail sales at the official start of the holiday shopping season, and based on our results, we’re encouraged that many small business retailers would have seen spending increases across other forms of payment as well.”

American Express made headlines recently after spending almost half a million dollars in the third quarter of 2010. According to a recent disclosure reports obtained by BusinessWeek, AmEx spent $460,000 on lobbying in the time period.

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