Even though it’s still difficult for small businesses to access financing, signs are emerging that show things are moving in the right direction.
A blog post at Reuters reports the Thomson Reueters/PayNet Small business Lending Index increased to 117.2 in January of this year. This equates to a 4 percent increase when compared to the same time in 2013. The post also notes that this usually indicates additional US economic growth 1-2 quarters in the future.
Hopefully this indicator bears out to be right, and we see more Americans getting back to work and pre-recession income levels here in 2014.
Sectors Most Likely to Grow in 2014
Many different niches are going to experience growth throughout the coming year. A Forbes post relates information from a study performed by Sageworks. This company conducted an analysis of the financial statements of many privately held companies for 2013, and found the following:
- The biggest projected growth: real estate agents/brokers and computer systems designers. Computer systems have simply been hot for the last several years. However, realtors tend to be more cyclical. In many areas of the nation, housing markets are picking back up from the Great Recession, so it makes sense real estate will be hot in the near future. Both of the industries have already been good growers for the past couple of years.
- Some of the new guys: mining support activities and beverage manufacturers of all kinds. Not only is the mining industry growing quickly, but it has high profit margins right now too. Why are beverage sales coming back? It’s hard to say, but it could be the fact that American disposable incomes are returning (this is purely speculation though). With a little more loose cash around, consumers may be willing to spend more on items they consider “nice-to-haves.”
- Personal goods repair. This includes companies that repair things like your home and garden equipment, jewelry, furniture, and other similar consumer products. Because of the Great Recession and all the resulting lost jobs, consumers may have been delaying the repair of these items until more income became available to them.
Need a Loan to Expand Your Small Business?
Reliant Funding offers flexible, easy-to-access financing for small businesses in many niches. You can get financing for any business need, whether it’s inventory, equipment, marketing, or general cash flow.
We also work with you to develop a repayment plan that works best for your business.
To qualify, you need to have been in business for just 12 months, have a minimum of $10,000 in monthly sales, and have no open bankruptcies. You don’t have to pledge any collateral, do just a single page of paperwork, provide a few recent profit/loss statements, get up to $500,000 in financing per location, and can have your cash in hand in as little as 3 business days.
Get the financing your business needs to grow by calling us now at 877-850-0998 or contacting us online.