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Growing Small Businesses Have to Get Creative with Financing Options in 2012

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CIOL Bureau
Updated On
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BANGALORE, INDIA:

For small businesses, 2012 looks like a doozy. Despite predictions of an easing recession overall, the outlook for small business growth is discouraging.

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  •     The National Association for Business Economics predicts sluggish growth (just 2.4 percent.)
  •     Despite the growth, high unemployment rates will continue.
  •     The National Federal of Independent Businesses shows while business owners are feeling marginally better about the year ahead, they are most concerned about slow sales.
  •     Only nine percent (9%) plan to hire more workers; 12 percent (12%) are considering reducing staff.

Also read: Fab five innovations of 2011 for the masses

These forecasts are sending business owners into what could be called a hiring and growth paralysis. While the small business may now be able to get a bank loan, business owners are reluctant to risk hiring because with the additional personnel comes salaries, health insurance, sick leave, 401k contributions, and the list goes on.

For more visit www.smallbiztrends.com