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3 Things You Should Know About Small Business: Nov. 20

Stocks in this article: AXP GS C

NEW YORK ( TheStreet) -- What's happening in small business today?

1. More consumers plan to shop "small" on Small Business Saturday. Consumers will be out in force this Saturday for American Express' (AXP) Small Business Saturday.

The Small Business Saturday Consumer Insights Survey, conducted by American Express OPEN and the National Federation of Independent Business, polled 1,000 consumers between Nov. 7-12 of their shopping plans.

Two-thirds of those surveyed plan to buy from local businesses on Nov. 24, the day designated for Small Business Saturday. (Forty-four percent said they shopped at a small business for last year's event.)

>>>Small Business Saturday Set to Catapult Local Shops

The survey found that a majority plan to spend more money than they did last year, averaging about $100 each on Small Business Saturday.

In response, thousands of small businesses around the country are planning special offers, partnering with neighboring businesses and hosting events to support the small-business shopping day.

The survey also found: ¿
The top five places that consumers plan to shop on Small Business Saturday are restaurants (52%), bakeries (35%), clothing stores (34%), gift shops (31%) and book shops (29%). ¿
The No. 1 reason that consumers plan to support small businesses is because they value their contributions to the community (76%). The No. 2 reason was better customer service (59%). ¿
Half of those planning to shop on Small Business Saturday will bring a friend. ¿
Two-thirds plan to eat out at small, independently owned restaurants. ¿
Word-of-mouth is the top way that consumers find small, independently owned shops and restaurants in their communities (79%).

Small-business owners can go to a section on the NFIB's website to submit information about their business and why shoppers should visit on Nov. 24, which will be promoted by the NFIB on its Facebook and Twitter pages.

Now in its third year, the movement is gaining steam. More than 200 advocacy groups, 60 public officials and 70 corporate partners have signed on to endorse the campaign, according to the Shop Small website.

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