More than half of all small businesses polled for American Express OPEN’s latest survey said they plan to hire in the next six months.
According to the Small Business Growth Pulse survey, 79 percent of small business owners identify growth as their top priority and 89 percent said they invest a significant amount of the personal time in an effort to grow their businesses.
About 68 percent said they also invest a substantial amount of their personal savings as well. Male business owners are more likely than females to invest their own funds in a business – 72 percent to 62 percent.
According to the survey, 71 percent plan to make capital investments in their businesses in the next six months.
The greatest challenge they said they faced was uncertain economic conditions. About 64 percent predict they may have cash-flow issues in the next six months.
When asked about the top two most important triggers that could really take their business to the next level, 40 percent said expanding their offerings, while 34 percent said expanding the market for their current products and services.