Widening Smiles: Optimism Among SMEs

Business owners are downright bullish about their future prospects and profitability, finds the latest Amex Small Business Monitor survey

Written by David Pimentel

If this keeps up for much longer, Canada’s small-business owners will soon become downright bullish. As it is, the new American Express Small Business Monitor shows a fast-rising optimism among the people who run the country’s SMEs.

In the second-quarter 2012 survey, which was conducted in April, 23% of respondents said their company’s revenue and profitability are improving significantly. that was more than triple the 7% level in Q2 2011. And in the latest survey, 37% reported that sales and profits are improving slightly, a sizable jump from 26% a year earlier.

When asked about the outlook for their firms’ future revenue and profitability, business owners saw mostly blue skies ahead. Among Q2 2012 survey respondents, 32% said they’re hopeful it will get a lot better—miles ahead of 14% a year earlier. And 38% said they’re hopeful it will get a little better, up from 33% in Q2 2011.

Still, you can’t run a business without being worried about something. fully 64% of respondents said they’re at least a little stressed about the state of the economy, up from 54% in Q2 2011. However, even on this subject, it wasn’t as bad as all that: just 7% reported feeling extremely stressed, down from 9% a year earlier.

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Originally appeared on PROFITguide.com

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