TODAY | November 25, 2013
>> 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.