NEW YORK (Sept. 24, 2009)—More than half (55 percent ) of small business owners are optimistic about near-term business prospects, up from 45 percent 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 percent said these opportunities come as a result of less competition.
Despite this increased optimism, 63 percent of respondents said they do not think the worst of the U.S. economic difficulties are over, and 17 percent said they risk going out of business within the next six months because of the economy.
Also, 68 percent of small business owners said they are “stressed out” by the current economy, and 31 percent said it has caused them to question their decision to become entrepreneurs.