Business Trends


12 05 2013

12 05 2013

Small Business Owners Plan To Grow But Challenged By Skills Gap, Healthcare

Although headwinds remain strong, small business owners have an improved outlook on the year ahead. According to the latest Small Business Owner Report from Bank of America, 56 percent of owners expect revenue to increase during the next 12 months. Also in that time period, 41 percent expect the national economy to improve and 45 percent expect the local economy to get better. Only 34 percent and 38 percent said the same in 2012, respectively, suggesting that confidence has increased this year.

Many owners are hoping to expand their operations, as nearly one-third plan to hire new employees in the next year. The top reasons given for adding staff was to increase business and bring new skills to the team. However, nearly half of owners said it is a challenge to find qualified workers.

Many struggle to find candidates knowledgeable about their industry and skilled with tools of the trade. While it is possible to train unskilled workers, the process can put an extra strain on managers, especially if employee retention is low: 59 percent of small business owners said they had some degree of frustration with their staff. While lack of skills was a notable issues, employers were generally more troubled by workers’ poor time management and lack of proactive thinking.

Health care, government presenting challenges

Employee management, however, was just one small business owner concern. More than three-quarters noted health care costs and government mismanagement as the top concerns they will face in the next 12 months. Thirty-five percent of owners said their hiring plans are being affected by health care legislation, with 9 percent saying they are dropping hiring plans altogether because of it.

Fears of inadequate government leadership are likely related to federal budget plans, which will reach deadlines in the next few months. Low consumer spending, high commodity prices and decreased value of the U.S. dollar, which were other concerns reported in the survey, could be potential consequences of a government default.

But despite these concerns, the majority of small business owners are still expecting increased revenue in the coming year. As these owners develop growth strategies for 2014, some may find it beneficial to increase their capital. Owners should consult a small business lender that will cater to their needs. National Funding offers a simple and quick application process, giving small business owners an alternative to the unreliable and time-consuming hassle of banks.

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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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I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) 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 (8) this request is for business and not for consumer purposes.


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The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121. Funding amount and credit approval is subject to a full credit profile review.