Survey: Small-Business Owners Band Together During Economic Struggles

When it comes to supporting local businesses, entrepreneurs are their own best friends, according to the results of the most recent American Express OPEN Small Business Monitor, published today.

Seventy percent of entrepreneurs surveyed said they purchase and source goods and services from other small businesses. What’s more, 96 percent of small businesses said they are committed to supporting their local communities through a variety of activities including donating to local causes and participating in community projects. Additionally, 83 percent said they shop at independently owned businesses in their neighborhoods for non-business related purchases.

The semi-annual report was conducted in February and March. It surveyed 933 owners and managers of companies with fewer than 100 employees.

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