Statistically speaking: 42% of business owners get less credit than needed
03/04/2014 12:00 AM
02/26/2014 11:27 PM
According to a February 2014 Independent Business Survey conducted by Advocates for Independent Business and the Institute for Local Self-Reliance, lack of access to credit is a major barrier to expansion, with 42 percent of owners failing to obtain a loan or receiving less than they needed. Here are other findings from the report:
7% average 2013 sales increase for businesses in areas with a “local first” initiative.
49% number of small businesses that said competition with large Internet companies was their top challenge.
36% small-business owners who said that eliminating public subsidies for big companies would most help their business.
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