The Labor Department report yestrday suggested that the pace of job losses is slowing in the United States, which is hard to believe for many of the country’s small businesses. The unemployment rate is at a 26-year high, and many small businesses worry about making payroll. Witht he exception of those who have discovered invoice factoring.
President Obama is worried about the current unemployment rate at 10.2 percent,claiming that the improved economic picture has not yet to translated into job growth. He is asking business and economic experts to come up with new ideas on how to create more jobs and he plans to host a job summit in December, gathering CEOs and small business owners, economists, financial experts, as well as labor union and non-profit group representatives, to figure out how to deal with the job market.
“Small businesses and large firms are demanding more of their employees. They’re increasing their hours, and adding temporary workers, but these companies have not yet been willing to take the steps necessary to hire again,” said Obama.
As many small business owners know, making payroll is a channenge. However many of IFG’s customers have discovered invoice factoring as an excellent strategy to make ends meet, incuding making payroll.
Very timely information. Small businesses are feeling the pressure when trying to meet payroll expenses since their customers are taking longer to pay their invoices.
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