Confidence soaring.
American Express 5-25-2023, deliver an unparalleled standard of excellence in everything they do, staying focused on the biggest opportunities to be meaningful to their customers as a credit card company, “American Express Launches First Small Business Financial Confidence Report,” American Express, https://about.americanexpress.com/newsroom/press-releases/news-details/2023/American-Express-Launches-First-Small-Business-Financial-Confidence-Report/default.aspx ---ML
American Express (NYSE: AXP) today released its first Small Business Financial Confidence Report, highlighting survey data from 550 U.S. small businesses ranging from fewer than 10 to 500 employees. This ongoing report will explore how economic obstacles and market trends influence small business owners’ financial decisions and confidence.
“This new research reveals that among those surveyed, approximately half of the small business owners feel confident when making financial growth decisions, suggesting there’s considerable opportunity for improvement,” said Anna Marrs, Group President of Global Commercial Services and Credit & Fraud Risk at American Express. “By tracking the financial confidence level of small business owners, this report will help uncover the trends we’re seeing behind key money-making decisions businesses owners must make, how the macroenvironment may impact those decisions, and what can help boost their confidence.”
Do Small Businesses Make Confident Money Decisions?
Leading the report, 54% of small business owners surveyed stated they feel very confident in their ability to make sound growth decisions for their business. When broken down by business size, only 29% of the smallest small businesses say they feel very confident in their ability to make sound growth decisions, compared to 64% of the largest small businesses, highlighting a sizeable confidence gap by business size.