Every small business owner has struggled with acquiring capital at some point. Sometimes it’s simply not available, other times your business credit may not be at the level you need it to be in order to procure financing.
It’s no surprise, then, that a recent Direct Capital survey of some 7,000 small businesses found that access to financing was the biggest concern out there today. Half of all respondents indicated that was the biggest pain point in 2013 and going forward into 2014, likely as a result of diminished bank lending and some independent lenders folding during the recession.
There is, thankfully, a robust market out there, with Direct Capital serving as one of the lenders still making capital easily accessible. We recognize that finding capital is tough, but we’re hopeful that as we continue to get the word out about the hundreds of millions of dollars we’re making available this year, it won’t be the concern it is today.
Following access to financing in our survey were increased taxes and healthcare reform, though the two can and have been tied together in the past. Any time small businesses must pay more taxes, it impact their bottom lines, affects their staffing and may even require more access to financing to make up the difference, which can end up feeling like a vicious cycle.
What’s your biggest small business concern in 2013 and beyond?
Direct Capital is one of the nation’s leading small business lenders.