Trends

 

03 05 2013

03 05 2013

Small Business Owners Operate with Caution, but Still Optimistic

The economy may be progressing toward pre-recession levels, but many entrepreneurs are still wary of business conditions. However, despite their misgivings about the state of the economy, many small-business owners expressed optimism regarding their company’s future and potential hiring and investments in a national survey.

According to a Union Bank survey of 700 entrepreneurs, while nearly half of respondents said they felt small-business conditions had weakened during the last two years, a majority (84 percent) said they were confident their own businesses were headed in the right direction.

The cautious attitude present among entrepreneurs was likely due to the 24 percent of respondents who said they incurred layoffs in 2012, up 3 percent from 2011, and the 8 percent who said they expect to cut workforce numbers.

Still, many small business owners planned growth strategies for 2013: 15 percent plan to hire, up 6 percent from last year, and 23 percent plan to increase business spending and capital expenditures, up 3 percent compared to 2012’s survey.

“Entrepreneurs have become experts at gauging the business climate and adapting their course accordingly, so it makes sense that while confident in the direction of their businesses, they are also taking cues from the economy, balancing their increased optimism with caution,” said Todd Hollander, Executive Vice President at Union Bank.

While many entrepreneurs plan to spend more, some may have difficulty funding their expenditures. In that case, small business owners can look to National Funding for help with a merchant cash advance.

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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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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, 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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