When it comes to small and microbusinesses, getting loans and creating jobs often go hand-in-hand. In the 2015 Q3 survey findings from Pepperdine Graziadio School of Business and Dun & Bradstreet, almost half of businesses surveyed said their main reason for needing to raise financing was for growth or expansion. However, of businesses surveyed with less than $5 million in revenue, 60 percent felt their ability to grow was restricted. This feeling of restriction most likely comes from a lack of access to capital.These Small businesses are still not getting the funding they need, but that’s where lenders like Accion can come in to play. Accion offers loans to microbusinesses, which in turn allow them to create more jobs and hire more employees.
More than that, these jobs tend to be high-quality, according to recent research by FIELD at the Aspen Institute, which released a study based on interviews with over 100 employees of Accion clients:
Employees surveyed from microbusinesses that have received an Accion loan “value the flexibility, fulfillment and skill-building opportunities offered by their microbusiness jobs.” The findings also highlight the role microbusinesses can play in offering opportunity to those who struggle to find good jobs. The benefits of microbusinesses that receive an Accion loan can extend beyond just creating jobs, to creating good, quality jobs, according to the study.
In other job news, a recent Dun & Bradstreet study co-produced with American Express shows that women- and minority-owned businesses are creating jobs and growing into the middle market at five times the rate of other commercially-active businesses. Learn more in the Middle Market Power Index:The Growing Economic Clout of Diverse Middle Market Firms.
Learn more about the FIELD study by visiting www.gainfuljobs.org.
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