Small businesses defy economic odds

Posted under: SMB
Date: 2024-02-28
Small businesses defy economic odds

While the likelihood of a recession in the United States appears to be diminishing, small businesses continue to encounter obstacles such as rising costs and difficulties in retaining skilled workers. However, according to a recent survey conducted by American Express, small business owners remain optimistic as they enter 2024. The survey revealed that 85% of small businesses expressed satisfaction with their overall success, and 86% reported achieving their business goals for 2023. This stands in contrast to August 2023, when 80% of small businesses surveyed indicated that their long-term financial confidence was negatively impacted by the economy. Gina Taylor, Executive Vice President and General Manager of American Express Small Business Products and Business Blueprint, commented on the resilience and dedication demonstrated by small businesses amidst uncertain economic conditions.

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