Amex Small Business Monitor Shows Small Business Owners Are Committed to Supporting Local Communities According to Sunovis Financial

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The April American Express Small Business Monitor survey shows that small business owners really do put their money where their mouth, or business, is located. 96 percent of those surveyed said that they are committed to supporting local communities.

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...small business owners are not only helping their communities, they are also helping their own business growth.

The April American Express Small Business Monitor survey shows that small business owners really do put their money where their mouth, or business, is located. 96 percent of those surveyed said that they are committed to supporting local communities. Sunovis Financial, whose mission is to help small business owners, follows and reports on these trends.

In the American Express study, small business support comes in the form of donations to local causes (70 percent), participation in community projects (49 percent), and shopping at independently owned local businesses (83 percent).

“This type of local support is critically important to the small business community as it allows all sectors of a local economy to benefit from small business growth. By keeping as much as possible local, small business owners are not only helping their communities, they are also helping their own business growth,” said Terry Robinson, president of Sunovis Financial.

The poll also found that a majority of small business owners are optimistic about their future growth, though many are remaining cautious regarding capital expenditures. In addition, 59 percent of those surveyed are currently concerned with cash flow.

When it comes to hiring, 31 percent of those surveyed said they plan on hiring within the next 6 months. This is a 2 percent increase from last fall. The survey also found that 35 percent feel they do not need to hire to grow their business, an 11 percent increase from last fall.

Despite the current tepid economy, nearly all of the small business owners surveyed are happy with their lives. 92 percent said they are happy and 76 percent said that their happiness stems at least in part from them being an entrepreneur. Additionally, 66 percent said they would make a recommendation to friends and family to become an entrepreneur, up from just 56 percent who said the same in the fall of 2009.

Sunovis Financial helps small business owners gain access to capital for growth. The company specializes in SBA loans and has a special focus on fast Micro Loans (non-bank cash flow loans.)

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Kathy Heshelow
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