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GDP numbers not so rosy for small business

It is great to hear that things are looking up…but for whom? Community banks and credit unions engaged in member business lending are most interested in small- to mid-sized business.

Government stimulus, greater exports and less-severe reductions in business inventories have
been credited with the growth, but data from Sageworks, which compiles
financial information on privately-held companies, paints a far bleaker
picture for small businesses.

U.S. Small Business Sales Growth/(Decline) through 4th Quarter 2009

Sageworks Small Business Sales Growth 4th qtr 2009.JPG

Read the article…

What is happening…

  • In your part of the country?
  • In your target industries?
  • With your clients?
About the Author
Linda Keith CPA is an expert in credit risk readiness and credit analysis. She trains banks and credit unions throughout the United States, both in-house and in open-enrollment sessions, on Tax Return and Financial Statement Analysis. She is in the trenches with lenders, analysts and underwriters helping them say "yes" to good loans. Creator of the Tax Return Analysis Virtual Classroom at, she speaks at banking associations on risk management, lending and director finance topics.
  1. Bill Conerly

    Not quite an apples to apples comparison. The -6.4% small business figure is over four quarters; the GDP figure cited is quarter over quarter annualized. The better comparison is GDP, not inflation adjusted, four-quarter % change, which was up 0.7%.

    The point remains that small business seems to be worse off than the overall economy, though not by quite as much as the article says.