Multiple statistics show evidence of small business growth in recent months. While there are still difficult economic conditions to consider, owners can at least review some of the recent figures as they acquire necessary capital. CBIZ recently announced the results of its Small Business Index in an April press release, in which it highlighted some of the trends to watch across the country.
Though it acknowledged that the progress seen in this sector was “mild,” CBIZ also noted that 27.4 percent of the thousands of small businesses included in the survey “increased payroll commitments.” The source also quoted another report, from ADP and Moody’s Analytics, which showed 5,000 more hires in March than previously expected. The Northeast was the source of much of the new employment figures.
“Some 75 percent of respondents said they were financially confident.”
Last month, the National Small Business Association found a mixed message from small business owners. As of December 2015, 32 percent of the report’s subjects said that inflation would be an issue for their business during the course of the following year. However, a full 50 percent identified growth opportunities during this same stretch of time, and 75 percent said they were financially confident.
“According to NSBA data from as far back as 1993, there is a clear correlation to a small business owner’s ability to hire and his/her ability to get financing,” the report said. “Today, the number of small firms is at its eight-year high of 73 percent, up from 69 percent six months ago.” As a counterpoint, it also added that a quarter of small firms do not have this financing.
Growth Capital makes securing government loans for small business owners easy. Contact us soon to start working on an appropriate financial strategy for the future.