Small Business Growth Outlook for 2016
Great news! Most economic forecasters including the National Association for Business Economics’ (NABE) 2016 economic forecasts are predicting a positive outlook! For the first time in several years, job growth and hiring -two major factors- are expected to uptick. A lower inflation rate, higher employment and more growth in consumer spending are also expected. The NABE report also predicted a modest lift in stock price and business investment.
There’s more: recently the New York Times surveyed economists are forecasting the lowest unemployment rate since 2000 (when it was 3.9%). To balance these metrics, however, inflation, interest rates, and gas prices will likely increase slightly by end of the year, 2016. Only Goldman Sachs, a leading investment firm, played down business growth predictions for next year due, in part, to the national election.
How Small Business Can Move Ahead in 2016
Securing the proper financing increases the likelihood for small business’ advancement in 2016. Chances are whatever the industry, business owners will continue to have to spend money to make it. That means to remain competitive and to grow their market share, small businesses will have to continue to invest in their business. These improvements may take the form of business software upgrades, with training for existing staff, new professional equipment, new or expanded facility for manufacturers or repair shops or even for restaurant franchise owners, yet another location. Their common thread is financial: where to go for the funds they need and how quickly can they obtain sufficient financing to meet their needs and business goals?
Even with a blemish free-financial history, it may be difficult for established small businesses to obtain additional funds. Banks make more money by extending credit to large businesses, so there is a limited funding pool for small business applicants to draw from. Assuming an application is approved, receiving that financing can take weeks, even months. Small business owners are very aware that timing and working capital enable them to take advantage of business opportunities when they appear. However, they may not be aware that there are alternative funding sources that may better suit their financial needs.
Growing a Small Business? Need Funding? Call Us!
National Business Capital is a leading alternative lender. We do not require a spotless financial history and even consider applicants with an open tax lien. By taking a personal interest in our clients we strive to find just the right funding and payment schedule that will work for them. When you select National Business Capital as your lender, you begin a long-term business relationship that will prove mutually beneficial. Your success is our success. Start a dialogue about growing your small business with us today: (888) 888-9124 or, if you’d prefer to fill out our 2-minute application. You’ll receive our funding decision within 24 hours. We can’t wait to hear from you!