Many small biz owners worry about finances

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.

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