Daily News: April 5, 2012

BofA Hires 90 Small Business Bankers in Georgia, Carolinas

Bank of America announced it is hiring 45 small business bankers across North and South Carolina to provide guidance and counsel to local small business owners.

The additions are part of the company’s previously announced plan to hire 1,000 small business bankers across the nation by mid-2012

“Today, we’re proud to announce that small businesses in the Carolinas will have access to a new level of expertise to help them grow and thrive,” said Steve Turner, Southeast region sales executive for Bank of America. “By working with one of our small business bankers, small businesses will have more resources to help them better manage their cash flow so they can run their businesses more efficiently.”

“The addition of these bankers across Georgia is the latest demonstration of our commitment to small business owners across the state,” Turner, added. “Our small business bankers have a deep understanding of the challenges and opportunities their clients face each day, and are dedicated to provide them with the relevant knowledge, products and services they need to be successful.”

Bank of America said according to the U.S. Small Business Administration, there are over one million small businesses in the Carolinas. In North Carolina alone, these businesses represent 98% of all employers and approximately 1.6 million employees. Of the 28,518 companies with operations in Charlotte, 26,487 companies employ fewer than 50 workers. In South Carolina, small businesses represent over 97% of all employers and employ nearly 50 percent of the private-sector workforce. The majority (77.8%) of South Carolina’s small businesses have fewer than 20 employees.

According to the Metro Atlanta Chamber of Commerce, there are 130,408 total businesses in Atlanta. Of these, 127,104 have fewer than 100 employees. Moreover, according to the U.S. Small Business Administration, businesses with fewer than 100 employees account for 54 percent of the total workforce in Atlanta, and two-thirds of the city’s job growth can be attributed to small business. Across the state of Georgia, there are 167,864 companies with fewer than 500 employees.