The UK’s small and medium-sized business owners are feeling more optimistic about their future compared to recent years. Research from American Express reveals that almost seven in 10 (69%) of entrepreneurs are confident about the future of their company – rising from 67% in 2023 and 65% in 2022.*
This steady growth in optimism forecasts a positive period for business owners. While running your own business and living out your ambitions is a rewarding and fulfilling venture, it can be tough at times as entrepreneurs face challenges along the way.
Business owners want greater downtime
Despite this optimism about the future and feeling confident in overall growth, two-fifths (40%) of respondents said that running a business has become harder over recent years.
As a result, over half (54%) of respondents said they would benefit from more time away from the workplace.
The same number (54%) said they wish they had more time to pursue and discover a hobby, pastime, or interest outside of their work. A further 82% agree that activities and interests outside of work are important to help them unwind and disconnect from work outside of business hours.
Rewards can help relieve the pressure
By taking the time to travel or pursue interests outside of the workplace, business owners can come back to their businesses with refreshed energy, new perspectives and ideas, enhanced productivity, and a greater sense of motivation, which will ultimately benefit the business more.
Membership Rewards® points earned from day-to-day business spending with an American Express Business Card® never expire and are encouraged to be put towards a holiday or used to upgrade travel plans so small business leaders can enjoy a refreshing break away.
The points can also be used for hobbies and activities outside of work, or they can be put towards the purchase of office supplies and technology upgrades to help take a weight off small business owners’ shoulders.
The simplest way to support downtime is to refer a business owner or friend to take out an Amex Card®
At American Express, we know that there is a strong sense of camaraderie and community spirit among small business owners and entrepreneurs, who support each other in their ventures and provide support where needed. This is something we not only truly value, but want to encourage in our Cardmember base, in order to do our part in helping small businesses thrive.
To do this, we continually reward small business owners for their dedication – and give them the opportunity to share rewards with their network – and currently, American Express is running a limited time offer on its American Express® Business Platinum and Business Gold Cards. Until 22 October 2024, Cardmembers who successfully refer other small businesses owners for an Amex Card will earn additional benefits.
On the Business Platinum Card, Cardmembers can earn up to 80,000 points for successfully referring or joining. Subject to approval, whether you refer a Cardmember or are accepted as a Cardmember, you will boost your usual earn rate to receive 8 points for every eligible £1 spend (for the first 3 months of membership, up to £10,000 or 80,000 Membership Rewards®).
On the Business Gold Card, Cardmembers can earn up to 40,000 points for successfully referring or joining. Subject to approval, whether you refer a Cardmember or are accepted as a Cardmember, you will boost your usual earn rate to receive 4 points for every eligible £1 spend (for the first 3 months of membership, up to £10,000 or 40,000 Membership Rewards®).
There is no minimum spend – business owners can start earning points at a boosted rate from the moment they join. Existing Cardmembers will unlock the boosted earn rate from just one single successful referral.
For more information visit the American Express Refer a Business page. Terms and conditions apply. 18+ subject to status. American Express® Business Gold Card Annual Fee: £195 (£0 in the first year). American Express® Business Platinum Card Annual Fee: £650. American Express® Business Basic Card with no annual fee also available.
American Express Services Europe Limited has its registered office at Belgrave House, 76 Buckingham Palace Road, London, SW1W 9AX, United Kingdom. It is registered in England and Wales with Company Number 1833139 and authorised and regulated by the Financial Conduct Authority.
* American Express commissioned Opinium Research to survey 1,000 UK SME decision makers at small and medium sized businesses. Fieldwork was undertaken between 5-15 July 2024.
