Small Businesses Have Become the Backbone of the US Economy

There are 28 million small businesses in the United States with 22 million of them being self-employed with no additional employees and some economists would say that small business is the backbone of U.S. commerce, and our President concurs.

The Small Business Administration (SBA) classifies small businesses who employ less than 500 employees and report that over 50% of working individuals work for small business owners.

According to the December Reuters/PayNet Small Business Lending Index stats, small business borrowing has increased to a seven year high. This may be overall great news for new and seasoned entrepreneurs since the recent recession has cost so many of American citizens so much as reports show that small business owners have increased their hiring of new employees.

With the need to bring aboard new employees, comes the opportunity to secure a short term business loan to invest in your business, i.e.: investment capital, employees, equipment. Business expansion is an exciting time and when properly applied, monies can really propel a company’s longevity.

Every business is unique and owners should be vigilant with changes in the market and niche business projections prior to growing production. Before signing or agreeing to any type of financing, do a quick review of what your business needs and goals are because lending practices and small business financing are ever changing.

Since August 2003, small business owners have been surveyed their insight for current and future perceptions of their business financial situations and reportedly, most are optimistic in the upturn.

Hundreds of thousands of start-ups enter the arena each month, with so much precision, it’s exciting to be in the business of lending monies to business owners with the notion to move forward with a vision, a goal and, with the assistance of a short tem business loan, a bright, prosperous future.

The information cited in this article can be found here: http://www.cnbc.com/id/101387287 and the Small Business Administration site www.sba.gov.