Small Business Startup News
Small Business Owners Send Mixed Messages In Recent Survey
Written by Jenna Weiner
Published: 10/14/2010
American Express survey reveals 45 percent of small business owners feel positive about future
According to one recent small business monitor, small business owners are still struggling with economic issues but are looking forward to higher sales.
The American Express OPEN Small Business Monitor revealed that 45 percent of small business owners reported having a positive outlook on the economy, lower than 51 percent who had felt the same way in the spring. And while many weren't as positive, fewer reported having money problems - 53 percent, down from 60 percent in the spring. The amount of small businesses that planned to hire rose to 10 percent, a number that has doubled in the last six months.
"Over the last two years, many business owners shelved investment and hiring plans and dipped into cash reserves and personal assets to stem the tide of declining sales," said Susan Sobbott, president of American Express OPEN when speaking of the news for small business. "Now entrepreneurs are driving more business with existing customers through regular follow-up and better customer service."
Small businesses are looking forward to getting access to more funding thanks to legislation signed by President Barack Obama. The bill will give $30 billion in funding to community banks in order to allow them to lend out money to small businesses.
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