@Risk

Small business optimism is growing, but most entrepreneurs still see tough economic times ahead, according to the American Express Open Small Business Monitor, a semi-annual survey of business owners.

Susan Sobbott, president American Express Open sums it up like this:

“We see two clear stories being told by business owners,” she says. “Many small businesses are seeing signs of improvement, yet other firms are still struggling to keep their enterprises afloat. For the first time since 2007, the majority of small businesses are optimistic about the near-term future. However, some firms are dipping into cash reserves and personal assets to stem the tide of declining sales.”

Here are a few key findings from the survey:

• 55% of entrepreneurs have an optimistic outlook on near-term business prospects –that’s up from 45% in March 2009.

• 26% report expanding opportunities for their business –up 15% from a year ago. 44% of those who cite growth opportunities say these opportunities are the result of less competition. Other contributing factors include: the ability to renegotiate equipment leases and supply contracts (13%) and lower real estate costs (12%).

• Still, 63% don’t think the worst of the U.S. economic troubles are over.

• 17% say they risk going out of business in the next six months because of tough economic times. (Obviously, zombie suppliers remain a significant risk.)

You can read more survey results broken down by industry sector, age, gender, and geography here.