Small Business Economy is Struggling
23 Sep 2011 13:46 Africa/Lagos SB Authority Index Depicts the Small Business Economy is Struggling The SB Authority Index Is Up .76% for August 2011 PR Newswire NEW YORK, Sept. 23, 2011 NEW YORK, Sept. 23, 2011 /PRNewswire/ -- Newtek Business Services, NASDAQ: NEWT, The Small Business Authority, announced the release of the SB Authority Index for August 2011 reaching 108.06 points. The SB Authority Index is up .76% from July 2011. Approved SBA loan volumes, the Russell microcap index and Retail Sales caused the increase in the index. However, the index growth was limited by the flat and slight reduction within the other five components. President and CEO, Barry Sloane said, "The small business economy continues to struggle along as consumer spending and employment trends are clearly reducing economic activity. The recent announcement of monetary policy by the Federal Reserve may increase interest rates to small businesses as most small businesses borrow on a prime rate basis ...