Business Trends

 

12 10 2013

12 10 2013

Small Businesses Getting A Better Handle On Economy, Health Care

Since last year, factors identified as major risks to small business owners have become less pressing. According to an annual survey by The Hartford, fewer owners were concerned about economic issues this fall than during the same time last year. For example, while 53 percent of owners considered health care costs to be a “major risk” to their business in 2012, only 40 percent felt the same way this year.

Last year, 67 percent of small business owners cited concern about slow economic growth and 59 percent felt high taxes could threaten their businesses. Both those numbers declined this year, coming to 59 percent and 42 percent, respectively. Furthermore, uncertainty with federal regulations, an issue noted by 56 percent of small business owners in 2012, was cited by only 30 percent this year.

Nearly half of small business owners – 48 percent – are optimistic the economy will strengthen next year, which is up from 33 percent in 2012.

Health care coverage

Although fewer small business owners considered health care costs to be a “major risk” to their success, many felt the expenses could affect their bottom line. The Hartford study found 42 percent of small businesses do not currently offer benefits to full-time employees, while 36 percent share costs with workers. With new health care legislation coming into effect, many small businesses may need to add coverage next year. This could prompt some owners to re-evaluate their budgets or business plans.

For those hoping to increase revenue by unveiling new products or services, a small business lender can provide financing. Although banks can be difficult and unreliable, National Funding caters to the needs of small businesses. Applications are simple and can be processed in as little as 24 hours.

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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.

 

US Patriot Act:

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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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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