Confidence of small businesses in the economy hit bottom last October but is now on the rise, Counselor reports.
According to the latest small-business survey from American Express, small businesses are expecting growth this year, are less stressed about the economy and are less worried about going under. However, they are more averse to taking risks. The study conducted in January and February also found:
- 46 percent of respondents are seeing decreased profit margins (12 percent less than reported in October)
- 17 percent of small businesses plan to hire employees (19 percent fewer than last August)
- 8 percent of respondents still plan to cut back (up 5 percent)
- 7 percent fewer businesses are feeling the effects of tighter credit
- 75 percent of businesses are more likely to avoid taking risks now than they were a year to a year and a half ago
- More than 33 percent of businesses are waiting longer for payments
Source:
Counselor PromoGram: Small Business Optimism Rises
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