1 in 4 Small Businesses Cite Access to Capital as a Primary Concern
By: Tracey Lowe
In the recent Small Business Index Survey conducted by the Florida Chamber of Commerce, small business owners reported being optimistic about growth but increasingly concerned with access to the working capital needed to hire new employees, purchase equipment, and grow their business.
Many small business owners find that business financing is difficult to access. Women and minority small business owners, in particular, are less likely to secure financing through traditional channels and are increasingly turning to alternative sources of funding such as grants, angel investment and crowdfunding.
As we move towards the future, small business will play a vital role in diversifying Florida’s economy and meeting global demand. The question is, will traditional lending sources provide the capital small businesses need for future growth or will alternative funding become the new normal?
Share Your Story:
What innovative financial resources and community investment opportunities are you using to help expand your small business? Share your story by emailing the Florida Chamber Foundation’s Chief Economist Dr. Jerry D. Parrish at email@example.com.