SB Index Shows Small Business Economy Improvement
Newtek Business Services, The Small Business Authority®, announced the release of the SB Authority Index of small business indicators for August 2013 reaching 121.17 points.
Newtek merchant processing, the Russell Microcap Index and approved SBA loan volumes led the increase. The SB Authority Index is up .74% from July 2013. As a year-over-year comparison, the SB Authority Index is up from 113.48 points, a 6.78% increase.
President and CEO Barry Sloane said, “The small business economy continues to grow at a modest pace. Nothing has changed as the drivers continue to be led by the stock market, consumer spending and a better lending environment all off of a low base. It appears that the Federal Reserve’s policy of easy money is driving these variables, which leads our business clientele to be cautious, with concerns over the Fed tapering off the stimulus effecting their future business prospects.”
To read the entire press release, click here.