American Express: Another Economic Warning
The VAR Guy pays his American Express bill in full every month. Apparently, more small businesses and consumers are struggling to make those full payments, though, according to a warning issued today by American Express. For small business solutions providers, this is yet another signal to proceed with caution into 2008. Here’s what the news means to channel players.
Sure, The VAR Guy himself continues to invest in R&D — including the launch of this web site. And he continues to hear good things about spending in various IT markets — particularly managed services, where companies like Autotask plan to expand their employment ranks by 30 percent or more this year.
Still, American Express has its finger on the pulse of consumers and small businesses. And their warning about slowing spending is yet another reason to keep a close eye on cash flow in Q1.