Mom-and-Pop Shops Look for Holiday Boost From Small Business Saturday
*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).
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
