Small and Medium Businesses Are Feeling Hopeful and... - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Small and Medium Businesses Are Feeling Hopeful and Confident

Small and Medium Businesses Are Feeling Hopeful and Confident

Small and Medium Businesses Are Feeling Hopeful and Confident
The content is accurate at the time of publication and is subject to change.

If you have felt a sense of hopefulness when visiting small and medium-sized businesses, you’re in sync with the trending vibe, according to the inaugural American Express Global SME Pulse. The study found that these businesses are feeling optimistic economically and their confidence is high when it comes to how they will do in the coming year.

During the American Express Global SME Pulse, senior executives and decision makers from small- and medium-sized enterprises (SMEs) located in 15 countries, weighed in on growth and the overall economy finding that U.S. based business have more optimism about the state of the global economy than those in other countries. Over half of U.S.-based executives (54%, vs. 39% overall) feel good about the global economy over the next year, and when it comes to their local economy, their positivity was even higher (59% vs. 45% overall).

“Small and medium-sized enterprises have put strategies in place to grow product and service innovations, quickly respond to changing business demands and develop and retain skills and talent to help them thrive,” said Brendan Walsh, executive vice president, Global Commercial Payments, American Express. “They are confident about and invested in the future of their businesses.”

Upswing in revenue optimism

While executives are forecasting upswings in global and local economies, they are also feeling positive about their own revenues and profitability levels. With over two thirds of those in the U.S. believing that they will see a 4% growth over the coming year. (69%, vs. 58% overall). While 42% weighed in that they expect to see 8% growth, which is twice that of SMEs around the world (21%)

But what about profit? Here too, U.S. based SMEs are feeling pretty keen about the future, with 35% planning on seeing at least a net profit of 8% during the coming three years. Their strategy to grow their business includes having a more hard-hitting domestic sales and marketing strategy (48%), and right behind that is taking stock of how their customers needs are evolving (46%).

Yet there are potential threats

While SMEs are feeling optimistic, there are issues that they are concerned about, with 47% seeing economic uncertainty as a potential problem. But there are other issues they see as potential threats too, like political uncertainty (31%) and the possibility that domestic laws, regulations and policies will change (24%).
This survey was carried out by Oxford Economics via telephone. They spoke with 3,205 owners, executive board members and Chief Financial Officers/Heads of Finance working at SMEs, which have from 10 to 250 employees and earnings up to $30 million.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Rite Aid Joins the Membership Rewards Program
Rite Aid Joins the Membership Rewards Program

Posted: November 22, 2016

American Express cardholders will now be able to cash in their rewards points at all Rite Aid drug stores across the U.S., whether they are picking up a prescription, buying cosmetics, household goods or snacks.
Continue reading

Air Canada and American Express Partner is Still a Go
Air Canada and American Express Partner is Still a Go

Posted: March 06, 2019

Air Canada and American Express have inked a deal renewing their partnership. But that is not all it also paves the way for the launch of new co-branded credit cards and for American Express to partner with them on the Air Canada’s new… Continue reading

Amex Acquisition Increases Security
Amex Acquisition Increases Security

Posted: December 09, 2016

American Express has bought InAuth, Inc., a company specializing in providing customers with mobile device authentication and intelligence solutions. Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn unlimited 1.5% cash back on every purchase, every day
For Average, Fair, Limited Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!