Modest Growth In The Small Business Economy Continues
Press release from the issuing company
Wednesday, May 13th, 2015
Newtek Business Services Corp., The Small Business Authority, announced today the release of the SB Authority Index of small business indicators for March 2015 which reached 130.35 points. Approved SBA lending volumes, new entity formation and the Russell Microcap Index led the increase. The SB Authority Index is up 0.15% from February 2015. On a year-over-year comparison, the SB Authority Index is up 3.16%.
Barry Sloane, Chairman, President and CEO of The Small Business Authority commented, "We are experiencing an economy that is growing very slowly and is range-bound, trying to break out. The SB Authority Index is telling us that the very sensitive personal consumption aspect of our economy continues to struggle to gain any momentum. Long-term interest rates have ticked up slightly, as have oil and gas prices. We do not see significant near-term rate hikes or further pressure on higher oil and gas prices. However, if that does occur, independent business owners are very sensitive to these two staples of the economy and any further bad news coming from these sectors could start the small business segment on a negative downtrend."