Why Small Business Saturday Doesn't Work

COMMENTARY | Nov. 26, 2011, is "Small Business Saturday." American Express created the promotion last year. Its overall goal was likely to bring in more business and publicity for American Express. A secondary incentive was to attract more customers for small businesses across America.

So what's wrong with such a noble effort? The problem for small business owners such as myself is that the Nov. 26 event is only promoting small business one day a year. The focus on small business should be every day.

Large multi-national corporations such as American Express can help support small businesses every day with a few simple steps.

First, the large corporations could offer small business loans. Walmart claimed to offer small business loans back in July 2010, but it was actually an SBA lender offering the loans in Walmart's and Sam's Club stores. Instead of U.S. tax payers backing the loans, how about a few of these large multi-national corporations guaranteeing the loans instead?

Second, the most important asset for any small business is customers. A few large companies could offer free advertising promotions or co-op advertising to help small businesses. The key would be to include as many small businesses as possible and not just do one commercial that runs for three months promoting just one small business.

Although getting some publicity and recognition for small businesses is great on November 26th, it would be even better to see an effort to promote and support small business every day.