The Interface Financial Group (IFG), North America’s largest alternative funding source for SMEs has declared that 26 percent of small businesses have seen higher sales this year. Business conditions have improved and jobs have stabilized that remained the deepest concern for them during the economic uncertainty.
Out of the 3,000 small business owners surveyed some still believe that the economy is still caught in recession. In 2010, 89 percent of business owners found that the economy was strangulated by recession. In 2010, the percentage of this number of business owners has dropped to 78 percent.
Revenue generation has aligned according to orders as per 64 percent of U.S. business owners. Still 55 percent says that revenue is better than the previous 12 months. About 22 percent of the respondent business owners are planning to hire while 70 percent of the respondents say that they will keep staffing levels intact in next 12 months.
Perceptions of banking sector have improved as banks have started to focus more on small businesses. This is indicated by 43 percent of small business owners who found their banks more lenient to making loans during the past year.
Small business owners when asked about the most crucial challenge facing their company, they responded by saying that it is ‘economic uncertainty’. The second concern for them is poor sales.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to