The nation’s most modest sized businesses many be expanding again The Thomson Reuters/PayNet Small Business Lending Index say small business borrowing rose 20% in October. . The information is encouraging for more than one reason. The first is that banks, recently concerned about the economy and their balance sheets many now loan to small businesses Until the last few months they have not be willing to take on more risk.
The other good news is that small businesses have begun to grow again. More than half of workers in the US are employed by these small firms. And, economists believe there cannot be a jobs recovery without hiring at the small business level.
Unemployment has been helped by small business activity. The ADP private sector employment data showed that the great majority of the 206,000 job additions came from small business in November. This has helped offset slower employment growth at the largest firms, and, more particularly, government layoffs
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