How Small Businesses are Making a Comeback

As a recent survey by the National Small Business Association (NSBA) and Dun & Bradstreet shows, over half of all small business owners in the U.S. expect that their company will grow over the next 12 months-a number that has increased steadily since 2009.  What's the reason for this growth? Three key factors are cited: low interest rates, economic insecurity and a rise in the demand for customizable products and services. This article discusses how these factors have led to a steady increase in small business activity during what is often referred to as "the slow season" for startups across the country!

Small businesses account for more than half of all jobs in America. Consumer confidence and higher-than-expected sales contributed to some small businesses thriving, according to a new survey. With more than 240,000 jobs in the last six months, there has been an increase in smaller companies hiring. As the current economic situation looks bleak for most corporations in the United States, more opportunities have opened up for entrepreneurs who are ready to take their dreams to the next level.

This is great news for anyone looking for a change of  pace from the typical 9-5 job, since it's not just technology fields that are seeing a rise in opportunities. In fact, jobs for those with skills in healthcare and education have been growing over the last few years as well - all signs that the economy is on the road to recovery.

Small businesses are coming back. 

According to the recent SBA Small Business Scorecard, small businesses have been experiencing faster job growth than any other size business, showing a one percent increase in employment over the previous year. 

• Customization has become more important than large economies of scale. The success of small businesses comes from their ability to meet the demand for specific, customizable products and services with closer attention to individual needs. Technology has allowed everything from custom Facebook page designs to handmade scarves that can be customized with names. Small businesses are also able to adjust their inventory  to suit increased demand, and they can do this at a much faster rate than large businesses.

• Low interest rates have led to an increase in small business growth as well. Small businesses are able to take out loans and finance equipment at near-record low rates. This has allowed them to grow quickly and compete with larger businesses in terms of capital .

Small businesses are not only creating jobs, but they are also revitalizing Main Streets across the country. Small businesses provide consumers with more options and offer special services that larger companies can't match, attracting reinvestment and revitalizing communities.

National Legacy Capital Group is headquartered in San Diego, CA. We specialize in helping small businesses acquire lines of credit, short term loans and equipment leasing. Call (858) 345-6338 to speak with a representative today!