Navtej Kohli Business Blog

Navtej Kohli came across an interesting survey conducted by American express. Below are some adverse findings of the survey, summed up by Navtej Kohli.

America’s small business owners are very determined and are constantly pushing ahead with plans to grow their business. Not withstanding the heavy loss of sales due to soaring energy costs they are optimistic and moving ahead with dogged persistence.

According to the American Express open survey only 45 % of US small business holders are positive and more than 70% plan to expand their business in next six months. In fact, half of them are ready to take on added financial risk to get it done, the survey said.

Despite of growing economic uncertainty throughout the US, the small business owners (almost 9 out of 10) see the sunny side. According to the survey, a majority of 75% small business owners would still recommend a friend or family member becomes an entrepreneur.

However, there still are those who can foresee the tight spot. Especially the retail business owners have the most negative attitude with nearly half expecting the economic environment to hurt their prospects. 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.