Small Business Owners Dreams Pay Off

The Economy of Shopping Small Report from American Express has shown that Australian small business owners started a business because they have a dream they’re passionate about. The vast majority say they view the business as a success if they are still enjoying it today.

Running a small business is a lot of work – we can’t deny it. We keep going in the midst of many obstacles, with 73% of business owners reporting that they are currently concerned about the financial stability of the business. So why do we do it?

Persuing The Dream

According to the report, more than three-quarters of small business owners (76%) say setting up a small business was about pursuing a dream, vision, and passion, or seeking new challenges. What’s more, 82% agreed the business gave them that ability to freely pursue a passion.

Nearly as many (68%) said it was also about proving to themselves that they could do it.

At the end of the day, an overwhelming majority of 91% said they judge the success of their business by how much enjoyment they get from working at it.

Building something for the future

When it came to family-run businesses, owners said they get their satisfaction from building something for the future of the family. 84% said this was one of the reasons they set up the business in the first place.

83% said the success of the business was all about the flexible lifestyle that running a small business gave them and their family.

Protecting your family’s future

So what if something were to happen – if you passed away, or were seriously injured and unable to run the business for a period of time? Could your family keep the business going without you?

Business life insurance is one way to make sure your family will be provided for during difficult seasons in life.

Protect your family while you chase the dream together – compare Business Life Insurance policies with CANSTAR

Add your business to the Shop Small campaign in November

In November 2015, American Express is joining consumers and companies alike to join their Shop Small campaign, and championing the “small heroes” of their community.Add your business to the Shop Small campaign in November

American Express is encouraged its Card Members (cardholders) to shop at small businesses by giving a $10 statement credit to those who register their cards in the promotion and then spend $20 or more at any participating business. They can receive this statement credit up to 10 times in November.

To register your business as a Shop Small retailer, or to participate in the promotion as an American Express Card Member, visit www.shopsmallaustralia.com

Federal Minister for Small Business Kelly O’Dwyer told the Herald Sun she has personally taken on the message of shopping small. “I certainly know everything I wear comes from local small businesses in my electorate,” she added.

Watch time-lapse footage of Greville Street getting ready for the 2 November launch of Shop Small November.

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