Should've cranked up the Google machine on this one. Another nutter myth goes down the tubes.
The problem with telling people that everything is for sh*t is that there are increasingly more people who know it's not.
The problem with telling people that everything is for sh*t is that there are increasingly more people who know it's not.
Quote:According to the Biz2Credit’s December 2015 Small Business Lending Index, an analysis of more than 1,000 loan applications on Biz2Credit.com, approval rates at institutional lenders (62.5% of funding requests granted) and big banks (22.9%) improved to new post-recession highs last month.
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http://www.forbes.com/sites/rohitarora/2016/0...5d503a6d38
Small banks are approving funding requests under the robust SBA loan program that reduces the risk assumed by lenders. These are low-risk, low-reward types of loans and have resulted in the increased entrepreneurship. On Jan. 7, SBA Administrator Maria Contreras-Sweet testified before the House Small Business Committee and reported during fiscal year 2015, the agency reached historic levels of lending under its flagship 7(a) program.
“We reached $23.5 billion in gross approvals, a 22% increase in the number of loan approvals, and a 23% increase in the dollar value of those loans, compared to FY14,” Contreras-Sweet reported. “It’s not just the overall numbers that were up. We were able to target businesses with the greatest difficulty accessing capital. The dollar value of our 7(a) loans was up 22% to women, 23% to minorities and 103% to veterans.”
During his State of the Union address last night, President Obama boasted that “We’re in the middle of the longest streak of private-sector job creation in history. More than 14 million new jobs, the strongest two years of job growth since the 1990s, an unemployment rate cut in half.” Many of these positions have been created by startups and other small businesses.
Entrepreneurship has grown during the Obama Administration, often out of necessity (as was the case during the recession) and because of the growth in technology, which has spurred growth not only in the banking, IT, and biomedical sectors, but also for firms that work with government agencies that handle security and economic development.
“In some parts of our country, we have unemployment rates as low as 2%. New York City’s unemployment rate, as of November 2015, was hovering at 4.8%. Outside of the oil and gas companies and firms that service them, every head of human resources and recruiting I speak with is hiring for 2016,” says Steven Lindner, executive partner of The WorkPlace Group, a Florham Park, NJ-based firm specializing in talent assessment and acquisition. “We are actually in a talent crunch right now.”
Naturally, the current economic climate is not without peril. However, the past few years of the Obama Administration have been prosperous ones for entrepreneurs on a number of measures. It is why Americans continue to dream big and why foreigners seek to come here to pursue the American Dream of business ownership.
