Variety Of Factors Suggest That Small Business May Be Finally Recovering From Recession
A number of new economic indicators suggest that the economic playing field for small businesses has improved significantly in the last year, providing entrepreneurs a break from the long post-recession doldrums. According to FRANdata, a consulting and research agency for franchisers, the number of franchise locations launched by new franchisees is expected to increase from 4,700 last year to 5,700 this year. In addition, ADP jobs data shows that small businesses accounted for 27% of job gains in 2013, up from 26% in 2012 and 24% in 2011. Finally, the approval rate of small business loans by major banks rose to a post-recession high of 20% last month, according to Biz2Credit. In addition, about 4% of loan approvals are for new businesses, up from 1% in 2009.