In the complex landscape of business financing, American Express Business Loan Rates emerges as a strategic ally, offering not just funds but tailored solutions, competitive rates, and transparent terms. The commitment to efficiency in the approval process and user-friendly tools, like loan calculators, further enhances the overall experience.
Access to working capital essential to the success of Canadian small businesses
It’s been a trying time for Canadian small business owners this past year. From restaurants to beauty salons, many small and medium-sized enterprises (SMEs) are still in ‘survival mode’ and counting on Canadian consumers for support. To help us better understand the current environment for business owners and uncover how they are reacting as the global economy and business conditions shift in 2021, we commissioned the American Express SME Recovery Survey, a study of 500 SMEs across Canada.
The study unsurprisingly revealed that amid navigating the COVID-19 pandemic, many small business owners don’t feel they have the capital they need to maintain operations. In fact, only 40 percent believe that with their current cash flow they can maintain operations for more than six months. In addition, we found that many small business owners have had to make personal sacrifices to ensure t