A quarter of respondents to the survey (27 percent) said they did not expect their businesses to grow over the next six months, despite the upcoming holiday season, and two thirds (69 percent) said they would not be hiring over that same period.
"The recession has made small-business owners more calculating and measured in how they run their firms," said Susan Sobbott, president, American Express OPEN, in a release. "When cash is tight, they pull back on spending or look for creative ways to access capital."
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Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.