American Express’s annual Economy of Shopping Small report has found that a third of small business operators fear they risk becoming insolvent in the next three to five years.
The report is based on in-depth interviews with 10 small business owners, and 20-minute surveys with 864 small businesses and a nationally representative group of 1019 consumers.
Only 38 per cent of small business owners say revenue has increased during the past 12 months. This was a decline from the 43 per cent that reported growth last year.
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