Newtek report: Small-biz growth remains shallow
NEW YORK (12/16/15)--Small business indicators remain stagnant based on analysis from Newtek Business Services Corp., the Small Business Authority.
The SB Authority Index for October, released Tuesday by Newtek, reached 130.87 points, down 0.14% from September. Year-over year, however, the index is up 1.15%.
“Year-over-year results are still showing growth, albeit it is very shallow,” said Barry Sloane, Newtek chair and president/CEO. “I believe that 2015 was the slowest growth year for our index since its inception in 2011. With retail sales slumping and the Fed indicating it will be raising rates, independent business owners are going to need to focus on the expense lines to maintain bottom line profitability.”
The increase was led by the ADP National Employment Report and the Russell Microcap Index, which measures the performance of the microcap segment of the U.S. equity market.