Small Business Owners Support Fellow Entrepreneurs

Small Business Owners Support Fellow Entrepreneurs

August 7, 2013         Written By Bill Hardekopf

People that own a small business are extremely likely to support other small businesses in their area.

According to a survey from American Express, 70% of entrepreneurs say that they purchase their business materials from other small businesses. In addition, 96% of those interviewed say they support local communities through an assortment of activities, including community projects and donation drives. 83% of the survey participants said that they shop small for non-business purchases as well, investing their money into other entrepreneurs trying to make ends meet.

American Express OPEN president Susan Sabbott said, “We should all draw inspiration from small businesses that remain steadfast optimists and loyal contributors to local communities and causes despite an economic environment that remains uncertain.” When asked about the adversity some small businesses face, she replied that “adversity is nothing new to the vast majority of entrepreneurs, and our research shows that while they have concerns about the near future, they have learned a great deal from recent trials and are better positioned to grow in the long term.”

The survey revealed that most small business owners are still optimistic about their future and almost all of them say they are happy with their lives. Over half of those surveyed said they plan to make capital investments in their company in the next six months, and an even higher percentage would recommend entrepreneurship to a friend. Small business owners practice what they preach, and we could all learn a little bit from their commitment to their communities.

The information contained within this article was accurate as of August 7, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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