Minimal growth in the small business economy continues
Newtek, The Small Business Authority®, releases October 2015 SB Authority Index
NEW YORK, NY (December 15, 2015) — Newtek Business Services Corp., (NASDAQ:NEWT), The Small Business Authority®, announced today the release of the SB Authority Index of small business indicators for October 2015 which reached 130.87 points. The SB Authority Index is down 0.14% from September 2015, however on a year-over-year comparison, the SB Authority Index is up 1.15%. The ADP National Employment Report® and Russell Microcap Index led the increase.
Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “Year-over-year results are still showing growth, albeit it is very shallow. I believe that 2015 was the slowest growth year for our Index since its inception in 2011. With retail sales slumping and the Fed indicating it will be raising rates, independent business owners are going to need to focus on the expense lines to maintain bottom line profitability.”
About Newtek Business Services Corp
Newtek Business Services Corp., Your Business Solutions Company, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business ("SMB") market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 SMB accounts across all 50 states to help them grow their sales, control their expenses and reduce their risk.
Newtek's and its portfolio companies' products and services include: Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval), eCommerce, Accounts Receivable Financing & Inventory, The Secure Gateway, The Newtek Advantage™, Insurance Services, Web Services, and Payroll and Benefits.
Newtek® is a registered trademark of Newtek Business Services Corp.