According to a new *survey, U.S. small-business owners say the recession is pushing them to be more efficient, innovative, and cultivate stronger teams.
As defined by the government small businesses have 500 or fewer workers and are a key portion of the country’s commerce food chain. They account for more than 99 percent of all employer firms, according to federal statistics, pay nearly 45 percent of the country’s private payroll and produce almost a third of the nation’s export value.
The survey was based on a June 2009 telephone survey of 500 owners of private small businesses with fewer than 100 employees. The report shows that 66 percent of small businesses are finding new ways to operate more efficiently during the economic downturn.
The Interface Financial Group is seeing that many small businesses have found invoice factoring as one of these innovative solutions to be efficient during the economy.
The small business owners outlook is up with 38 percent of owners expecting the economy to improve in the next 12 months, compared to 23 percent in January.
By June, 28 percent of small business owners expected the economy to decline in the next year, compared to 48 percent six months ago. What’s more, 42 percent think the economy has caused their company to become a better team and the same percentage are offering new products and services to help customers.
Factoring has long been a great solution for small businesses. To learn more about factoring, simply to to www.ifgnetwork.com
*Source: Network Solutions LLC and the Center for Excellence in Service at the University of Maryland’s Robert H. Smith School of Business.
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