American Express this week came out with the fall edition of its Small Business Monitor survey. The results? They show small U.S. businesses are optimistic about the economy right now:
“According to the survey, nearly three quarters (74%) of business owners foresee growth opportunities for their companies in the next six months, similar to last year, and up from 64% in October 2002. In addition, fewer have a negative outlook about their near-term business prospects. Fourteen-percent say they expect the economic climate to negatively affect their businesses (vs.17% last year and 21% in 2002).
“Business owners are confident in their abilities to successfully grow their companies,” said Susan Sobbott, president, OPEN from American Express. With fewer facing cash flow issues, an increasing focus on investing in their companies and a broad willingness to take a financial risk to fuel expansion, business owners are well positioned to grow their companies.”
The Small Business Monitor is a semi-annual survey conducted of businesses with under 100 employees. The latest survey was completed during September 2004.