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Retailers, consumers and prices

American small business owners put on a brave face – survey

April 25, 2008

clouds12.jpgAmerican small business owners are a resolute lot, pushing ahead with plans to grow their operations despite losing a large chunk of sales to soaring energy costs, an American Express OPEN survey showed on Friday.

Ironically, most are also day-dreamers who look on the bright side , the survey added.

Although only 45 percent of U.S. small business owners are optimistic, — a sharp drop from 2004 – more than 70 percent plan to grow their businesses over the next six months, the survey said. Half of them are willing to take on added financial risk to get it done.

It’s not surprising then that the survey showed nearly 9 of 10 small business owners describe themselves as “seeing the glass half-full.” And despite the growing economic uncertainty throughout the nation, the survey said 75 percent of small business owners would still recommend a friend or family member become an entrepreneur.

Nevertheless, some small business owners see the glass half-empty.

Retail business owners have the most negative outlook, with nearly half expecting the economic environment to hurt their prospects, the survey said. One in five small businesses in states located in the northern midwest think they’re in jeopardy of going under.

And 56 percent of small businesses are having cash flow problems, according to the survey.


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