Buying and leasing new equipment and taking on new debt are two decisions small business owners are sitting on until they see sustained signs that the economy is recovering.
According to a Raddon Financial Group survey of 1,200 small business owners, 47% said they had postponed equipment leases and purchases while 41% were cautious about taking on new debt. Thirty-nine percent said they have put off hiring new employees, 24% are not expanding their facilities and 19% have opted not to buy real estate.
Credit unions and other financial institutions that offer online banking, bill payment and credit cards to small business owners have an edge over those that do not. These were the top three requested offerings, the Raddon survey revealed. Business loans came in fourth place. Payroll services were the least requested item.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
