A new survey from American Express shows that small businesses are optimistic about the future of their businesses, despite facing challenges such as higher costs and difficulty retaining qualified workers. The survey found that 85% of small businesses were satisfied with their business success and 86% had achieved their 2023 goals. However, 80% of small businesses in August 2023 reported that their long-term financial confidence was negatively impacted by the economy. Gina Taylor Cotter, executive vice president and general manager of American Express' small business products & Business Blueprint, said that small businesses are taking steps to stay proactive and competitive in 2024. Although 55% of small businesses plan to grow or expand, only 28% plan to hire more employees, as hiring and retention remain a challenge for many small businesses.