SPONSORED CONTENT
By Ruchi Sharma, VP of UK Commercial, American Express
Small and medium-sized business (SME) owners in the UK are becoming increasingly optimistic about their future. According to new research from American Express, nearly 70% (69%) of entrepreneurs are confident about their business prospects, up from 67% in 2023 and 65% in 2022.[1]
This growing optimism signals a positive outlook for business owners. However, although running a business and pursuing entrepreneurial goals can be highly rewarding, small business owners often face challenges.
Balancing business demands with downtime
Despite their optimism, two-fifths (40%) of survey respondents acknowledged that running a business has become more difficult in recent years. In response, over half (54%) expressed a desire for more time away from work.
The same proportion (54%) indicated that they wish they had more time to explore hobbies and interests outside of their professional life. Additionally, a strong majority of over four-fifths (82%) agreed that engaging in activities outside of the pressures of running aa business is vital for unwinding and disconnecting from business-related stress.
Rewards and referrals can reduce stress and boost productivity
Taking breaks, whether through travel or personal interests, can help business owners return to their ventures with renewed energy, creativity, and motivation, leading to improved productivity and business growth.
Membership Rewards® points earned through eligible business spend on an American Express® Business Card can be a valuable tool for this. These points never expire and can be redeemed for travel upgrades or holidays, allowing small business owners to take well-deserved breaks.
They can also be redeemed for a range of treats to support downtime and hobbies, or for purchasing things like office supplies and technology upgrades, easing some of the pressure on SME owners.
One of the simplest ways 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. 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 refer other small business 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 points).
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 points).
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 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.
[1] 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.
