Support Small Businesses: Don’t Pay By American Express

Leave home without it

Written for the first Small Business Saturday in 2010 and reposted

By Art Gallagher

American Express has created a self serving campaign to support small businesses by encouraging shoppers to patronize such establishments tomorrow. Today is known as Black Friday. Monday has become known as Cyber Monday. The two days are the busiest shopping days of the year. Amex wants to make the Saturday after Thanksgiving a new shopping day.

While the goal is laudable, this campaign will serve American Express at the expense of the small businesses they are purporting to support. As most small business owners know, the fees that American Express charge businesses that accept their card are often 50-150% higher than the fees other credit card companies charge.

I encourage all MMM readers to shop at small businesses this Happy Season. Check out the Northern Monmouth Chamber of Commerce, Eastern Monmouth Chamber of Commerce, Southern Monmouth Chamber of Commerce, and the Greater Monmouth Chamber of Commerce websites for small business to support. Pay by cash or check. If you must pay by credit or debit card, use Visa or Mastercard.

Governor Chris Christie has joined the campaign to support small businesses,

“Thanksgiving is the traditional kick off to the holiday shopping season,” said Governor Christie. “Our small businesses are critical to our economy and to our livelihood. I have a number of things on my shopping list for this season and I hope New Jersey residents will join Mary Pat and me as we spend time shopping locally this Saturday.”

Small business is key to the future of our nation. According to the U.S. Small Business Administration there were nearly 28 million small businesses in the United States last year. Over the past two decades, they’ve created 65 percent of net new jobs. Their importance to local communities extends even further. For every $100 spent in locally-owned, independent stores, $68 returns to the community through taxes, payroll and other expenditures, according to the small business advocacy group The 350 Project.

Experts estimate that 138 million people will shop this weekend, generating economic benefits for both employers and employees alike. The holiday shopping season is traditionally the time when retailers are the busiest. New Jersey has over 28,000 retail establishments with 20 employees or less giving residents of the Garden State a whole host of options for shopping on Saturday.

“New Jersey has some of the most unique and exciting retail shops in the nation,” added Governor Christie. “Boutiques and shops from Cape May to Newton will be welcoming shoppers with specials and savings. Saturday is the perfect time to explore the unique offerings and experiences offered only by New Jersey small businesses.”

I, and I’m sure thousands of other small business owners, deeply appreciate Christie’s support. We, and our employees will deeply appreciate your patronage. If we accept American Express, we won’t turn your card away or ask you to use another at the point of sale. However, we will appreciate it all the more if you use another method of payment.

Do I have an ax to grind with American Express? Yes I do. It gives me great pleasure to lend my voice to support other small business owners and to cost Amex a few sales along the way.