JOBs, JOBs, JOBs
Last Friday the US Jobs report for January 2014 was published. The economy created 175,000 new jobs in the month of January. Economists expected this figure to be lower because of severe weather throughout the United States. If the figure was smaller, the typical cycle of the economy losing steam in the Spring would have been predicted. This cycle of the economy losing steam each Spring has been going on for at least five years.
Economists are now predicting that the growth they projected for 2014 is sustainable and will continue throughout the year. Let us hope that by the end of March they do not revise the January jobs number downward. Typically, what happens is the job numbers are often adjusted negatively or downward 45 to 60 days after they are published. This gives the economists the opportunity to revise their forecasts. But more importantly, at this point who cares?
How is your economy doing? Our clients at Capstone Business Funding, LLC seem to be doing very well. Each month we are setting records in terms of business funding solutions and new client origination. Regardless of what the US Jobs report says (or their revised versions), our clients will grow substantially in 2014.
We are fortunate to operate in a micro economy where the macro economy has significant influence but it doesn’t stop those entrepreneurs who are constantly seeking out opportunities to attain their goals. We continue to advocate that you should ignore the economic forecast lest they color your view of the opportunities that are within reach. Last week we discussed “getting into the game” by finding a small business funding source to support your company’s growth and bid opportunities in Get in the Game!. This week, the economic data supports that view and if you are too slow at jumping in you may get left behind.
Sarah E. Needleman writes a column called the Accidental Entrepreneur for The Wall Street Journal. Last week she published an article entitled “When Banks Won’t Back Your Startup.” In the article, she interviewed a company who availed themselves of a Factor because no other financial institution would provide funding. Through the use of the factor, the company was able to cover operating expenses while waiting for customers to pay. The company grew significantly and eventually raised $250,000 in investor funding.
To quote the owner of the company “Factoring is an amazing strategy when you can’t go to a bank and you are trying to get a product out there.”
To sum it all up, the economy is coming back, Get in the Game!, get some new contracts, and get a Factor to fund them If you are a construction subcontractor we are waiting for you!