More than half (56%) of Canadian small business owners say they’re worried about managing their finances, with 45% of new business owners claiming cash flow unpredictability is a major cause of stress and anxiety, finds the American Express Small Business Monitor. Still, 91% say they do not regret starting their own businesses.
Some additional findings include:
- 41% worry about falling short on revenue;
- 40% relying on personal savings; 36% relying on bank loans and 21% relying on salaries from other jobs;
- despite the many challenges, 71% remain optimistic about their business’ future, an increase from the past two Monitors in March 2015 (68%) and August 2014 (63%); and
- 36% continue to focus on expansion.
Here are some articles to help business owners.