Australian small business owners suffering low morale
American Express' Shop Small promotion encourages Aussies to support underappreciated small businesses.
New research from American Express reveals the personal sacrifices made by Australia's small businesses and reports that small biz owners are feeling overworked and underappreciated by customers.
The Economy of Shopping Small: Custom Counts report revealed that small business owners are working above average hours at the cost of their own health and well-being. A third are working more than 50 hours a week and one in six are clocking in an excess of 60 hours.
A quarter of the participants surveyed also admitted that running a small business had a negative impact on their mental or physical health, with two-fifths saying they'd given up leisure and relaxation time for their business. This lull in morale for small business owners is also arguably a result of underappreciative customers. 53% of respondents claimed that customers are becoming less loyal, with a further 61% saying they're becoming less polite too. In the age of smartphones, it's probably no surprise that 19% of customers don't bother ending their mobile calls when paying for goods and services. Meanwhile, over a quarter (28%) don't bother to strike up a conversation when being served.
AMEX is using these statistics to support its Shop Small Promotion, which gives credit card holders the chance to earn up to $100 cashback when they use their card to make purchases with partnered small businesses in November. When you spend $20 or more at a participating store before 30 November, you'll receive $10 cashback. You can take advantage of the offer with up to 10 retailers, giving you the chance to score up to $100 back in your account. The offer is available to the first 125,000 cardholders who sign up for the offer, so register at the American Express website if you'd like to support local businesses and earn some extra cashback before Christmas.
- Clear credit card debt in 2021: Here’s a pain-free place to start
- 5 ways your business can keep cash flow strong now JobKeeper is gone
- 5 ways to earn extra Qantas Points from your business in 2021
- Westpac Low Rate credit card 0% balance transfer for 24 months
- ANZ and CUA link Android Pay with eftpos cards