Small businesses are important to the economy for many reasons. A key indicator to the health of the US economy is the

Small business owners are highlighting the surge in the American Economy

state of small businesses: small businesses employs half of the private work sector. Chief economist of Moody Analytics, Mark Zand, believes that the environment for small businesses is better than it has been since the recession ended in 2009. Here’s why we agree:

Entrepreneurs Feel Confident

As the economy took a downturn, many business owners were left feeling hopeless. Luckily, it appears as though that has changed. According to new results from the Small Business Barometer poll by Allstate, business owners are optimistic about the future. 53% of the polled entrepreneurs stated that right now is the best time to own a small business. Their confidence may not be in vain, 73% of those business owners believe that funding is “readily available.”

Additional Hiring

There has been so much talk in the media about job losses and growths, that it can be difficult to know what is going on in the economy. However, statistics show us that small businesses are steadily increasing their hiring. The employee count of small businesses have went up an average of 2.2% per year for the last 3 years. The ability and need to hire new employees is a great sign that things are looking forward, not only for small businesses, but for the economy in general.

Improved Funding Opportunities

Although big banks have decreased their number of approvals for small business loans, small businesses that are in need of funds have not been left in the dust. Alternative lending sources are becoming more reliable in assisting entrepreneurs in growing and maintaining their businesses. Private lenders have changed small business lending.

3 in 5 loan requests are approved by non-traditional lenders, that is nearly triple the number of approval rates of banks. Now more than ever, it is easier for small businesses to cover payroll expenses, equipment malfunctions, or expansion by acquiring a small business loan for which they usually would not qualify. Silver Rock Funding connects entrepreneurs to lenders who can tailor a plan to meet a variety of needs. Qualification is based on a number of factors, including business income and time in business. Traditional credit scoring is not seen as essential.