Canadian small business owners are less wiling to embrace risky business or financial opportunities than they were a year ago, according to the American Express Small Business Monitor released this week.
The quarterly report found that the willingness among small business owners to take "significant" or "above average" risks fell to 16 percent this quarter, which is down from 25 percent during the same period in 2010.
Additionally, owners claimed they are less willing to take on risks such as capital investments or extending payment terms than they were just three months ago.
"Small business owners have been patiently waiting for business to pick up," said Eric Nielsen, vice president and general manager of Small Business Services for American Express Canada, "but our quarterly monitor suggests that, for many, the reports of recovery and anticipation of a market upswing have yet to fully materialize."
Forty-seven percent of respondents reported being hopeful that their financial position will improve - down 8 points from a year ago.
The report conflicts somewhat with the most recent survey of small business confidence from the Canadian Federation of Independent Business, which grew slightly in February over the previous month, as well as the previous year.
