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Small Business Unemployment and Invoice Factoring
Link: http://www.ifgnetwork.com
According to the Small Business Administration, an estimated 90 percent of U.S. businesses are family-controlled, and experts say the prolonged economic downturn has hurt a significant number of them. About 4.3 million businesses with 19 or fewer employees closed during the fourth quarter of 2007 through the fourth quarter of 2008. (Source: The Bureau of Labor Statistics.)
Many small businesses are having to let go of their employees, because their revenues are down in this current economy. But what if they had simply started to employ invoice factoring in order to hang on long enough to weather the economic storm? Maybe if that had been the case, the last year's numbers of unemployed would have been better.
Here is a readout of the U.S. Unemployment rates, dating back to May, 2009.
2009 May = 9.4
2009 June = 9.5
2009 July = 9.4
2009 Aug = 9.7
2009 Sept = 9.8
2009 Oct = 10.2
Factoring has long been a remedy during troubled economic times. For more information on how you can work with The Interface Financial Group, Inc. (IFG) go to www.ifgnetwork.com
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