TODAY   |  November 25, 2013

‘Small Business Saturday’ supports mom-and-pops

American Express CEO and Chairman Ken Chenault spotlights “Small Business Saturday,” a day, similar to Black Friday, that is dedicated to showing appreciation to small businesses operating in local communities.

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This content comes from Closed Captioning that was broadcast along with this program.

>> the chairman and ceo of american express .

>> glad to be here.

>> small business saturday, this is something amex launched a couple of years ago. what's the idea behind it?

>> the idea is to celebrate small businesses . there's 28 million small businesses in the u.s. and the reality is, they generate half of the jobs in the private sector which is incredible.

>> so often they can be forgotten during the holiday sarbone season. amex has this ad campaign to get people into the smaller stores.

>> that's right. the reality is you have black friday and cyber monday. we wanted a day, the saturday after thanksgiving for small businesses and the reality is that for every dollar that is spent in your local community , 52 cents stays there.

>> and it's what makes them feel unique. these special small businesses .

>> what's fantastic is there are over 1500 communities this year that, in fact, have put together activities and events to support small business saturday.

>> well, it's a great idea. thank you so much for being here and telling us about it.

>> thank you very much.