New AmEx Survey Says Small Business Has Hit Bottom

A new OPEN Economic Pulse survey conducted by American Express shows that the worst of the recession may be over. While the survey paints an optimistic picture of the country’s financial situation, other experts aren’t so sure.

According to the survey, an online poll of 600 owners or managers of companies with fewer than 100 employees, things started looking up in October of 2008. Fewer small businesses are now worried about closing their doors, and 25% more of small businesses expect their operations to grow, compared to the responses given in a similar survey taken last October.

In terms of payroll, only 17 percent of small businesses plan to hire full-time or part-time employees in the near future and eight percent are planning to cut staff. Small business owners are also reporting that it is taking them longer to get paid than in the past. Other survey results show that fewer small business owners are being affected by tightened credit restrictions, small businesses owned by women are having a more difficult time paying their bills, and two-thirds of small business owners think that their businesses are being threatened by economic factors over which they have no control.

The survey paints a better picture for small business than the economic advisors are. New reports show that the economy may contract by nearly 2 percent in 2009, five times higher than originally anticipated. While credit may be loosening somewhat, the survey still shows that more than half of all respondents have been negatively affected by the credit squeeze.

If you own a business in the US, accept Visa or MasterCard and have credit or debit sales of at least $2,500 per month, a merchant cash advance can put the cash you need into your account today. A merchant cash advance doesn’t come with the same restrictions a loan does. You don’t need to justify your need for the money. Simply fill out an application and Rapid Capital Funding will do the rest.

Ninety-five percent of the merchants who meet the general guidelines for a merchant cash advance are approved, and have the cash they need flowing into their business in a matter of days. Whether you want to pay bills, expand your business, cover unexpected expenses or just increase the cash you have on hand, Rapid Capital Funding can help.

Photo Credit: Konrad Mostert

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