With tax season approaching amid one of the worst budget crises in recent memory, businesses both small and large are left waiting to see how the actions of federal, state and local governments will impact their own finances.
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Private companies are sitting on more than $1.9 trillion in cash, accounting for 7.4 percent of total business assets – the highest rate in more than 50 years, according to data released by the Federal Reserve last September.
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A number of recent studies from Thomson Reuters, PayNet and the National Venture Capital Association, among others, have found borrowing among small businesses to be up in recent months.
That includes venture capital, angel investment and bank lending and suggests that, along with gains in employment statistics, the economy is beginning to recover.
Recent figures show the economy headed in the right direction, but small business owners are still struggling in a number of areas, including existing purchasing power and the acquisition of credit and other lending necessities, according to Bloomberg.
A significant portion of small business buying power is employee growth.
With the right financial backing, the acquisition of a franchise can be just as rewarding as starting a business from the ground up, with significantly less risk, according to Entrepreneur.com.
Unlike the high costs of beginning a new business, franchises can be acquired a much lower cost.