Transforming Small Business
A Significant Contributor to the U.S. Global Economy
Small businesses have a substantial and vital impact on the U.S. global economy. Specifically, small businesses account for over half of all U.S. workers. More importantly, they produce well over 50% of all new jobs and represent more than half of the U.S. non-farm private gross national product (GDP). Finally, small businesses represent over 30% of all export values.
Small businesses are crucial to the U.S. economy and the eventual economic recovery from the "great recession". They are vital for both domestic and international growth and they are essential for the U.S. to maintain a dominating presence in the world market where China and other countries are gaining considerable ground at a frightening pace.
Despite their contribution, small businesses have limited assess to adequate capital to fund growth and stronger performance. In fact, growth in small businesses is largely funded by personal savings, "friends and family" and credit cards. The lack capital has had a profound impact on the recovery of the U.S economy. Company's growth, increased exports, reduced unemployment and increased consumer spending has been stifled by this environment. In addition, small businesses have limited access to affordable expertise largely having to fend for themselves during critical phases of their business life cycles. This creates a considerable gap and presents a distinct opportunity within the capital market and the advisory services sector.