Facebook and Twitter are all abuzz with the first-ever Small Business Saturday, a national movement to drive shoppers to local small retailers.

American Express’ CEO Kenneth Chenault said that large retailers have Black Friday and online retailers have Cyber Monday, “and now, starting on Nov. 27 of this year, small-business owners will have Small Business Saturday.” (Associated Press, November 8, 2010)

American Express has launched campaigns on Facebook and Twitter driving consumers and business owners to http://www.facebook.com/smallbusinesssaturday where they can participate in many ways.

Chenault said that the first 10,000 small business owners who sign up to participate will get $100 worth of Facebook advertising. American Express will give a $25 credit to 100,000 of its cardholders who pledge to use their cards at independent businesses on Nov. 27. (Associated Press, November 8, 2010)

Consider these statistics:

For every $100 spent, $68 returns to the community – Civic Economics

Small businesses employ half of all private sector employees – SBA

Small businesses represent 99.7% of all employer firms – SBA

For every year over the last decade, 60% – 80% of new jobs were generated by small businesses – SBA

Small Business Saturday is:

A day to come together in support of the small businesses we love.

An opportunity to reinvest our money into the shops and restaurants that employ our neighbors.

A moment to recognize the businesses that are the heartbeat of our communities and local economics.

So as retailers are being encouraged to patronize community businesses, how are you as the small business owner going to reach out to them? Will you sign up for Small Business Saturday? Will you offer special promotions? Are you reaching out to hire employees from your community? Will Small Business Saturday take a nationally recognized spot between Black Friday and Cyber Monday? Time will tell, but for the local economy, the concept is fantastic.