New York may be booming with businesses, but New York small businesses aren’t exactly booming. Even though they’re on par with the national average for expected hiring, New York small businesses are below the national average for expected and planned growth, according to the findings in the Q1 2015 Private Capital Access Index* from Pepperdine University and Dun & Bradstreet Credibility Corp. New York small businesses are also feeling more restricted than other businesses nationwide: 63 percent feel their growth opportunities are restricted, compared to 53 percent nationally. And while 46 percent nationally feel their ability to hire is restricted, 53 percent of businesses feel that way in New York.
The New York small businesses surveyed are also behind the national average for seeking outside financing, but luckily they catch a break in terms of loans – New York’s success rate for small business loans is 9 percent higher than the national average, though it’s still only 50 percent successful.
Visit accesstocapital.com to learn more about finding funding options and resources for small businesses.
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