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U.S. Small Business Services
We saw strong growth in our Small Business
Services (SBS) area during the year, as demonstrated by
year-over-year increases in spending on our cards, loans
outstanding, and the total number of charge and credit cards
for small business owners.
A key contributor
has been our customers' enthusiastic response to the small
business versions of a number of our consumer card products,
including Delta SkyMiles Credit Cards from American Express,
Optima cards and, most recently, Costco and Blue for
BusinessSM cards. Moving forward, we believe growth will
continue to come from a combination of existing core
products and new products designed to meet the unique needs
of different customer segments.
Over the
past five years, we have broadened our SBS product offering
to include equipment leasing, unsecured lines of credit and
term loans, which are actively marketed to existing
customers and prospects. Also, we are broadening awareness
of our services through new Internet-based programs,
sponsorships and advertising programs.
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During 2000, American Express conducted a
marketing program to engage U.S. small business owners in a
national dialogue about the issues that matter most to them.
Through advertisements, regional forums and a televised national
town hall meeting, "Voices from Main Street" helped focus
attention on the needs of small business, which is a key growth
engine of the U.S. economy.
Even during its days as a freight-forwarding
company, American Express was responsive to the needs of small
business owners. As the population of the United States moved
westward, so did entrepreneurs - who relied on American Express
to transport goods across the frontier.
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