04 23 2014

04 23 2014

3 Challenges Small Business Owners May Face in 2014

Small business owners everywhere face their fair share of challenges each year, and 2014 will be no exception. While the economy is in better condition than it was just a few years ago, many consider the political and financial landscapes for business owners to be unsteady. Here are three of the main issues facing small businesses today:

1. Employee salaries

Compensating employees with competitive salaries is one of the most important and clear ways to hold on to strong staff members. Unfortunately, it’s also expensive, and now that the economy is on the upswing, many individuals are exploring their employment options.

Steve King, a partner at California based consulting firm Emergent Research, told Forbes that now that unemployment rates are falling, “talent is going to be a little harder to come by.”

King told the source that he expects small businesses will need to assess their overall compensation packages in order to stay competitive, including paid time off and health benefits.

2. Cybersecurity

It’s no secret that cybersecurity has become a top priority for businesses large and small alike. As the consequences of the recent Heartbleed vulnerability data breach are yet to be fully disclosed, companies and organizations across the U.S. have found themselves scrambling to address their cybersecurity needs as quickly as possible. Unfortunately for every type of business, the frequency and severity of attacks are only increasing.

According to a 2014 Symantec report, there has been a 91 percent increase in targeted attack campaigns since 2013 and a 62 percent increase in the number of successful breaches launched during the same period. Furthermore, as consumers and businesses turn increasingly to mobile, the risk of facing cyberattacks has also heightened, the report found. Approximately 38 percent of mobile users have been subjected to cyberattacks in the past year, posing a problem for small businesses that use mobile apps. The risks then extend to consumers who patron businesses that may come under attack, making them vulnerable to breaches.

Investing in software and technology is one way to combat cybercriminals, This can quickly become expensive, however, making it difficult for small business owners to tackle these problems. These individuals can contact nontraditional lenders like National Funding to find out more information about equipment leasing options. Leasing high tech equipment can help businesses stay ahead of cybercriminals, allowing companies to maintain proper security measures in stores and online.

3. Access to capital

While lending standards have eased somewhat since the Great Recession, small business loans are still difficult to obtain for many entrepreneurs. Regulatory commissions and agencies continue to impose stricter lending standards than in the past, which can prohibit many from getting the capital they need.

Although small business owners may find some relief during 2014 as the economy is predicted to improve, this may not translate directly into easier access to working capital. Small business owners struggling to obtain loans can contact National Funding for assistance. National Funding offers financial options for business owners who are looking to expand or maintain their business practices.


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Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.


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To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan. What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number. We will also ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.


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The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.


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