According to the National Federation of Independent Business’ recent reports, the country is experiencing a record high in business optimism among small business owners. These same businesses are at a 45-year high for recruiting and filling jobs. Considering that this level of optimism has only occurred three times in the last three years, now is definitely the perfect time to capitalize on it if you own a small business.
Thanks to tax relief, businesses are thriving. When businesses thrive, the economy prospers. Many companies have shared their plans to expand this year. They also intend to increase inventory, hire new staff and invest in their business.
Even better, consumers are also optimistic. Thanks to business optimism and job creation, consumers are enjoying an increased labor force. Plentiful job openings and rising wages translates into greater spending – full circle.
With optimism and business growth also comes competition. Competition leads to better customer service and overall business improvement. Businesses will be focusing on improving efficiency in their operations and becoming more innovative and creative. They will also concentrate on public relations and building solid reputations. All of these changes are good for consumers and overall business growth short- and long-term.
How to Keep up with a Rapidly Growing Economy
Of course, keeping up with a rapidly growing economy is no small task for a small business owner. As businesses become more competitive and innovative, it will be even more challenging to differentiate your business from the competition. New business opportunities will also require adequate cash flow to say “yes” and move forward.
Thankfully, securing small business financing today is much easier than in the past. Ten years ago, it was nearly impossible for small businesses to secure funding. The Great Recession seriously limited the number of services available. Today, alternative lenders have made it easier than ever to not only secure the capital needed, but also find an option that works well for your business.
An alternative merchant loan from First American Merchant, for example, can be secured within days. Traditional lending takes weeks or even months. Merchant loans involve an application that takes just minutes to complete. Applicants here back in as little as 24 hours and can have cash in their business bank account in just days.
Merchant loans supply the cash needed to chase opportunities, hire staff, cover payroll, purchase equipment, increase inventory, boost cash flow, etc. You can secure the capital you need to begin new projects that will win new customers, like building a great online presence. If you’re business is a brick-and-mortar, you know how important it is to have a website that stands out to compete with ever-growing ecommerce.
With First American Merchant, even new market players like brick-and-mortar retail, electronic merchants and startups (that often struggle to find funding) can easily secure the financing they need. The team at First American Merchant understands the challenges and unexpected opportunities small businesses encounter and have developed fast funding services to help these businesses grow. If you need extra cash, be sure to inquire after our merchant loans for small businesses.