Small business owners willing take risks to grow

4/27/2011

Both the economy and small business lending trends have been improving as of late, which enables entrepreneurs to gain access to funds more easily. Now that they have these funds, they are growing increasingly more willing to make risky investments in an effort to expand their company, a recent American Express OPEN survey found.

More than one-third of small businesses (37 percent) expect to grow over the next 12 months, and 56 percent are willing to take a financial risk to see that happen. As many as 16 percent are actively anticipating aggressive growth, while 65 percent are planning for slow and steady improvements. Regardless of the growth pace, the study shows that for the first time, entrepreneurs are leaving survival mode to chase bigger opportunities.

"Over the ten-year history of the Monitor, we have witnessed the true resiliency of small business owners," said Susan Sobbott, president of American Express OPEN. "They are taking calculated risks, hiring at pre-recession levels and the mindset has shifted from 'maintaining' to 'growing'."

As Business Insider recently noted, many of these companies are facilitating growth by purchasing low-cost technology, such as laptops or cloud services that enable employees to work from anywhere.