American Express survey finds majority of small-business owners optimistic about near term

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New York—More than half (55%) of small-business owners are optimistic about near-term business prospects, up from 45% in March, according to a study by American Express OPEN.

The “American Express OPEN Small Business Monitor,” a semiannual study, was based on a telephone survey of 763 small-business owners conducted in August. Among those businesses reporting growth opportunities for their firms, 44% said these opportunities come as a result of less competition.

Despite this increased optimism, 63% of respondents said they do not think the worst of the U.S. economic difficulties are over, and 17% said they risk going out of business within the next six months because of the economy.

Also, 68% of small-business owners said they are “stressed out” by the current economy, and 31% said it has caused them to question their decision to become entrepreneurs.

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