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Small businesses account for 99.9 percent of all businesses in America. They employ almost 60 million people and created 1.9 million net new jobs in 2017. Since the 2008 recession, which caused more than 170,000 small businesses to close down, economic optimism, global expansion and loan approval rates have been steadily increasing. And for the first time in a decade, economic optimism is running at an all-time high. In fact, 50 percent of small business owners feel optimistic about the national economy, up from 29 percent in 2017, which explains why more of them are seeking growth capital, and larger amounts at that.
Take closer look at how small business owners are approaching financing in 2018:
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As a reporter and editor, Melanie has written about everything from retail and tourism trends to economic development for regional newspapers, trade publications, and national magazines. As Lendio’s Director of Public Relations, she specializes in reporting fintech industry news and its impact on American small businesses. Melanie has a B.A. in Journalism from Brigham Young University. She is also a backpacker, runner, and mom of four.
Small Business Tools
7 min read • Aug 12, 2022