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Year Starts Off with a Slew of Optimistic Reports for Small Business
Published on Jan 7, 2011
Check out 'Year Starts Off with a Slew of Optimistic Reports for Small Business' at 'Time to Start Up,' the small business blog by BizFilings.
The first week of 2011 has already started with a bang for the small business sector and the economy in general, as a number of significant studies released this week paint a picture of a rapidly improving economy - perhaps faster than many originally anticipated.
On Monday, the Institute for Supply Management released its monthly survey of manufacturing output, noting growth for the 17th consecutive month in a critical economic sector that employs one out of every six U.S. private workers.
Then, on Tuesday, the Small Business Administration announced it has supported more than $12 billion in loans to small businesses since the passage of the Small Business Jobs and Credit Act last September.
Wednesday, ADP's National Employment Report revealed the addition of more than 297,000 private sector jobs last month, led chiefly by small and medium-sized businesses - a massive gain over November's addition of only 92,000 jobs.
Finally, ComScore released its review of the 2010 holiday shopping season, claiming consumers spent more than $32.6 billion, marking a 12 percent increase over 2009 and the biggest shopping season on record.
While few expect these optimistic trends to continue uninhibited through 2011, they do start the year off on a good note for entrepreneurs forming a corporation.