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Newtek Surveys Business Owners' Fiscal Cliff Impressions
Small Business Authority's Market Sentiment Survey Results
By: PR Newswire
Dec. 14, 2012 11:00 AM
NEW YORK, Dec. 14, 2012 /PRNewswire/ -- Newtek Business Services, NASDAQ: NEWT, The Small Business Authority, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 1,100 respondents, one of the key findings from the November survey is 63% of business owners say that worries about the Fiscal Cliff have not affected their business. Additionally, 42% believe the Fiscal Cliff will only be partially resolved with a temporary fix prior to December 31, 2012. Of the remaining, 33% believe that there will be no resolution and we will "fall off the cliff," and 25% believe the issue will be completely resolved.
The full November 2012 results showed the following:
Barry Sloane, Chairman, President and CEO of The Small Business Authority commented, "Our independent business owners in aggregate are sensing that the Fiscal Cliff is an overhyped media term being used to draw attention to a clear economic concern, but are truly not able to gauge the magnitude that the tax hikes and automatic spending cuts will generate. Our survey depicts that independent business owners are cynical of Washington's capability of solving this problem. We agree based upon current D.C. gridlock."
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority, provides the following products and services:
Newtek Business Services, Inc., The Small Business Authority, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek™ brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today's marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the NewtekTM brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.
Note Regarding Forward Looking Statements
Contact: Brett Maas
Rubenstein Public Relations
SOURCE Newtek Business Services, Inc.
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