SAN DIEGO, Aug. 29, 2017 /PRNewswire/ — Small business finance company, Reliant Funding, surveyed over one thousand small business owners in order to find out how they were fairing in today’s economy and to determine factors like sentiment, operations and growth.
Of those surveyed, 63 percent were optimistic about the future and 76 percent said their business was steadily growing on an upward trend. The study also shed light on specific investment plans for the next 6 months. One-third of business owners already seek out consultation for marketing efforts and 18 percent plan to invest in them. Facility upgrades are the next most popular investment at 17 percent.
“It’s encouraging to see such a positive outlook from America’s small business owners. Tracking these variables offers great insight into how SMB’s are feeling about their business and which direction they plan to take for growth. It’s also incredibly reflective of the current economic landscape,” says Adam Stettner, CEO of Reliant Funding.
While the data shows that business growth is on an upward trend, the struggle to access working capital still exists. 28 percent say it was a challenge to access funding for their ventures and 30 percent had been denied a loan from their bank. The low unemployment rate is also proving a challenge to small businesses owners. In fact, 35 percent of the survey respondents stated that the biggest challenge facing their small business is finding skilled workers.
“We speak with business owners every day about their challenges. This study will undoubtedly give us a deeper understanding of the clients we serve and will become a valuable resource for them as well,” Stettner says.
The full infographic is available here.
About Reliant Funding
Headquartered in San Diego with additional offices in Melville, N.Y. and New York City, Reliant Funding provides customized, short-term funding to small and mid-sized businesses nationwide. Recognized for five consecutive years by Inc. Magazine among the 5000 fastest growing privately held companies in America, they offer high approval rates with first class customer service and timely assistance to help achieve clients’ business goals. For more information please visit: https://www.reliantfunding.com/.