Last Month Huge for Small Businesses

Small businesses continue to employ an enormous amount of the workforce.

Optimism about small businesses continues to have tangible results, as this past month saw a tremendous amount of success for American small businesses. In May, small businesses in the United States saw their biggest increase in hiring in over a year. 35,000 new jobs were created by small businesses last month, which is three times the average monthly job creation levels for small businesses since 2010. All but one state saw a net increase in small business employment. Additionally, workers’ pay increased, and hours worked went up. Across all small business industries, revenue increased as well, making it a good month for both small business owners and employees.

This upswing is great news, and continues to underscore the importance of small businesses in the United States economy. There are 28 million small businesses in the United States that employ over half of the workforce and generate close to a trillion dollars in revenue. Not only is this increased amount of success good news for the economy as a whole, it serves as an encouragement to those small business owners who are seeking to expand their business. A positive economic climate is the perfect time for small business owners to take a shot at growing their business in multiple ways. This recent uplifting news reminds business owners that now is the best time to take those chances.

In order to have the best chance at successful business expansion, small business owners need a few things. One of the most important of these things is money. Business owners frequently list financing as a major obstacle towards expansion. When you need money to make sure your business is rising as high as it can, Silver Rock Funding can help. Our network of lenders can approve most small business loans within 72 hours, making sure you don’t miss a single chance to take advantage of an opportunity you deserve.