In a recent survey of small business owners as part of the American Experss OPEN Small Business Monitor, more than half (55%) of entrepreneurs have an optimistic outlook on near-term business prospects, up from 45% in March 2009. Over one quarter (26%) reported expanding opportunities for their business, up from 15% a year ago. And among those businesses reporting growth opportunities for their firms, 44% say these opportunities come as a result of less competition.
The bad news? Six in ten (63%) do not think the worst of the U.S. economic woes are over, and nearly one in six (17%) say they risk going out of business in the next six months because of the economy. One in three has tapped personal assets to keep their business afloat and most are working nearly 12 hours a day on average.
Susan Sobbott, president American Express OPEN said “For the first time since 2007, the majority of small businesses are optimistic about the near-term future.”
You can download the Monitor here.
There really is some great findings here that will give every small business owner benchmarks to measure their own business by. Take a read and see how you stack up to other small business owners around the country in a variety of areas.