*By Tracey Cheek* Big-name chains may dominate Black Friday ー but according to American Express, 80 percent of consumers plan to shop or dine small on Small Business Saturday this year. According to Walter Frye, Vice President of global brand content and engagement at American Express (AXP), small businesses not only are good for the larger economy, but also healthy for local communities. "Small businesses are what make our communities unique and vibrant," Frye said. "When small businesses thrive, communities thrive." "When consumers spend a dollar in their communities and small business, 67 cents of that dollar stays in that community," Frye said. According to the "2018 Small Business Saturday Consumer Insights Survey" by American Express, 91 percent of consumers think it's more important than ever to support small businesses this holiday season. For full interview [click here](https://cheddar.com/videos/the-importance-of-small-business-saturday).

Share:
More In Business
Trump Administration Shutters Consumer Protection Agency
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Load More