UBR Morning Post: Small Business Saturday Is a Big Deal - Black Enterprise
Black Enterprise Magazine September/October 2018 Issue

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American Express CEO Ken Chenault announces November 27, 2010 as the first annual Small Business Saturday for holiday shopping.

Each week on the The Urban Business Roundtable I offer commentary with our “Alfred’s Notepad” segment, which is my chance to talk about opportunities, news and strategies of critical importance to entrepreneurs who are serious about the success of their businesses. My topic this week falls squarely in the opportunities category: Small Business Saturday, November 27, 2010.

When New York Mayor Michael Bloomberg and American Express CEO Kenneth Chenault announced this week that New York would be the first city to designate the first Saturday after Thanksgiving as Small Business Saturday, I was thrilled. Large retailers have counted on Black Friday to boost year-end sales for decades. More recently, as the popularity of online shopping continues to grow, many of those same retailers have also been major beneficiaries of Cyber Monday. It makes sense on so many levels to launch an effort specifically aimed at encouraging consumers to spend with small independent businesses, a key source of new jobs in an economy still in recovery mode.

Entrepreneurs in the UBR audience, particularly those serving inner-city communities, should be all over this initiative, with on-purpose marketing strategies including discounts and other special sales incentives that will reward consumers who recognize Small Business Saturday by holiday shopping with your businesses. Small business owners and entrepreneurial groups, including local chambers of commerce, also need to be proactive in pressing their local elected officials to formally support and recognize Small Business Saturday in their states, counties, cities and districts.

For us as consumers, this represents a major opportunity to support black entrepreneurship, which is predominantly comprised of small businesses. First, don’t forget small businesses based in low-to-middle income communities in rural and urban areas. Be willing to spend in nearby neighborhoods that may have been hit

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Alfred Edmond, Jr.

Alfred Edmond Jr. is SVP/Editor-at-large of BLACK ENTERPRISE. He is a content leader, brand representative and expert resource for all media platforms under the BLACK ENTERPRISE brand, including the magazine, television shows, web site, social media and live networking events. From 2008 through 2010, Edmond was SVP/Editor-in-chief of BlackEnterprise.com, helping to lead the transition of BLACK ENTERPRISE from single-magazine publisher to digital-first multimedia company. From 1995 through 2008, Edmond was chief editor of BLACK ENTERPRISE magazine. He also hosts The Urban Business Roundtable on WVON-AM in Chicago and Money Matters, a syndicated radio feature of American Urban Radio Networks.


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