2014: The Year of Small Business
The Wall Street Journal is calling 2014 a breakout year for small businesses. Businesses are anticipating more sales and more growth this year as the economy continues to improve and as rules for how to raise money from investors will begin to loosen. Dane Stangler, head of research at the Ewing Marion Kauffman Foundation, told the newspaper despite present uncertainty, better times are coming.
“There’s no doubt we’re still in a hangover from the financial crisis,” Stangler said. “But things look good in the short term.”
Additionally, the National Federation of Independent Business (NFIB) conducted a survey of small businesses and they found that as a whole, small business owners plan to expand in the new year. However, optimism has only risen in November from the October numbers by 0.9 points to 92.5. Owners cited concerns about capital outlays. After hitting a low of 45 points in 2012, capital outlays rose to the mid-fifties and have been hovering there since that time. However, credit for small businesses improved or stayed the same.
The survey conducted by the NFIB was done in November, which was before the Fed announced its decision to begin tapering in January.
The Wall Street Journal cites some positive statistics to cut through a little of the gloom. Overall, the economy is improving. It expanded by 4.1 percent in the third quarter. Also, November unemployment was at its lowest levels in five years. The Wall Street Journal surveyed 937 small business owners in December and found 52 percent saw an improvement in the economy, and 38 percent felt that the economy would be even better in 2014. Finally, 75 percent of those surveyed expected better sales in 2014.
2014 might be the best year in recent time to begin expanding. It could be time to get a business cash advance. National Funding can help your business grow, whether with a cash advance, business equipment financing, or equipment leasing.