Finance & Lending

 

08 06 2014

08 06 2014

ELFA Releases Industry Confidence Survey for July

The Equipment Leasing and Finance Association (ELFA) recently released its July 2014 Monthly Confidence Index for the Equipment Finance Industry, revealing that confidence in the sector was largely unchanged from the previous month.

The index reached a reading of 61.4 for July, the same as June, though more business executives said they believed their business conditions would improve over the next four months. Of the respondents, 29.6 percent said this in July, compared to 23.5 percent the previous month. In addition, just 2.9 percent of respondents said conditions would worsen, down from 5.9 percent in June.

Confidence in the equipment leasing market has remained strong for several months. Any index reading above 50 indicates that more market executives are optimistic about the industry than those who are less confident. While the industry is looking better, there are still many concerns that underline equipment financing, one of which is still coming off a weak first quarter.

“I don’t believe that the dramatic contraction of the U.S. economy in Q1 should be blamed on winter weather,” said William Sutton, ELFA president and CEO. “There are underlying concerns by businesses and consumers that real unemployment has been too high for too long and not enough of the federal incentives are around job creation.”

Some of these concerns likely won’t have much of an impact on financing for equipment, which has been steadily rising as more small businesses turn to this option over purchasing new equipment. In addition, with confidence remaining high, 37 percent of employers expect to increase hiring over the next four months.

Overall, the equipment leasing and financing industry continues to play a vital role in the economic recovery, and more industry executives are feeling more optimistic about the conditions ahead.

Featured


  • Essential business development tactics

    3 Effective Business Development Tactics for Small Businesses

    Ultimately, every small business wants to grow and develop. However, owners need to pick spots and choose to develop their operations in a way that is sustainable and beneficial in the long run. Growing simply to expand the business's footprint doesn't always make sense from a financial or operational standpoint. How can your business increase… […]

  • Get your brand on mobile devices

    3 Ways to Get Your Brand On Customers Mobile Devices

    Everywhere you look, you're bound to see someone scrolling through newsfeeds, messages or even news articles on their mobile devices. Smartphones are no longer considered so much a luxury as they are a necessity. In the U.S., 72 percent of the population reports owning a smartphone, according to a survey conducted by the Pew Research… […]

  • 3 Different Types of Small Business Lenders

    3 Types of Funding Options for Small Business Expansion

    When you began your business, it was small; most are for the first few years. But now that you've gained customers and market share, you're feeling it's time to expand. This is a normal part of business life, yet a challenge for many small business owners. Expanding your business takes careful planning. Perhaps you need a new… […]

  • Encourage employee volunteerism

    4 Ways Companies Can Benefit From Social Responsibility

    Companies are taking corporate social responsibility more seriously than ever. According to The Guardian, more than 5,000 corporations release their environmental, social and corporate governance performance on an annual basis. And, nowadays, it's not hard to find an initiative designed to attract socially​ minded companies. The Guardian explained that today's trends in social responsibility are a… […]