Young business owner holding a “Thank You for Buying Local” sign in front of her store with shopper … [+] in the background.
Small independent retailers are “doomed,” said CNBC’s Jim Cramer this week. The failure of Congress and the President to pass a second stimulus package puts retail further into the hands of large retailers, like Walmart, Target, Costco, Home Depot, Lowe’s and Amazon.”
“These companies have picked up a giant amount of allegiance…These companies have wiped out a lot of smaller companies because there’s no stimulus,” he said, leaving Main Streets across the country full of “empty storefronts.”
But when government fails, private enterprise often picks up the pieces and that is just what American Express AXP is doing with its bigger and better than ever Small Business Saturday on November 28.
American Express has committed more than $200 million to its Shop Small campaign this year and has organized the support of 100 large companies to provide special offers and services to their small business colleagues. The program is called Stand for Small, and it lets small businesses know that big companies, like AT&T, Amazon, Best Buy BBY , BJs, IBM IBM and Dell, have their backs.
“We are all part of a