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Amex: Small Businesses Ready to Come Out of their Shells
Published on Apr 19, 2011
Read our article, 'Amex: Small Businesses Ready to Come Out of their Shells' at 'Time to Start Up,' the small business blog by BizFilings.
More than half of U.S. small businesses are willing to take a financial risk in order to grab more market share - a possible sign that the U.S. economy is recovering further from the recent recession, American Express' OPEN Small Business Forum reports.
However, the survey, which measured small business owners' views on economic conditions for the coming year, did notice significant differences in outlook between those who reported doing well and those who said they were struggling. For instance, successful business were more likely to be marketing themselves on social networks and providing benefits to their employees than businesses trying to keep the lights on.
Roughly 37 percent of business owners surveyed expected their companies to grow in 2011, and nearly two-thirds of those reported that they believed the pace of said growth would be slow and steady.
This gradual economic recovery may mean it's time for small businesses to take the next step and form an LLC in order to set the stage for expansion, experts say.