Consumer Payment Card News

Biz Optimism

Nearly one-third of small business owners are remaining focused on growth and hiring during the next 6 months amid a staggering economy. However, optimism among these business owners is the lowest it has been in the 6 years AmEx has been conducting this research, despite the findings that 70% are planning on expanding business operations, while 44% cite economy and 16% cite homeland security as topics most important to the outcome of the next presidential elections. “OPEN” from American Express Small Business Monitor also found that 86% of the businesses surveyed are experiencing financial impact from high energy costs, 35% have experienced disabled business as a result of energy costs and 33% have been forced to raise prices. Furthermore, 71% of entrepreneurs are concerned about retirement given current financial conditions, 52% are not convinced by the potential effectiveness of Bush’s Economic Stimulus Package and 41% are considering downsizing by cutting back on staff.

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