A survey by TMC Financing found that 42 percent of its small-business clients in California and Southern Nevada expect to add staff this year, 3 percent expect to reduce staff and the remaining 55 percent expect staff levels to remain the same.
TMC’s fourth annual Small Business Portfolio Survey included job and sales growth projections from about 800 clients for the upcoming year.
Regarding sales volume predictions, 54 percent of survey respondents expect sales volume to increase, 5 percent expect sales to decrease and 41 percent expect sales to remain the same.
The survey findings also support the slowly changing access to capital for small businesses, she said. TMC clients reported a 37 percent increase in being approved for any type of credit for their business from 2010 to 2013. At the same time, the survey shows a steady decline in the number of businesses being denied credit for business purposes.
There was a major market adjustment in the hotel industry where a combination of larger SBA loans and a shift to smaller, boutique hotel construction made SBA 504 loans the ideal product at a critical time, Morrison said.
Contact reporter Hubble Smith at firstname.lastname@example.org or 702-383-0491.