Small Biz Struggling to Access Capital, Report

The economy might be slowly rebounding, supposedly, and manufacturing in this country seems to be turning around, supposedly, but one area that's still struggling is small business' access to capital. According to an unnamed survey cited by Business News Daily, "More than two of every five small business owners… reported that they were unable to find any willing sources when they needed funds during the last four years."

Also, nearly a third of respondents said that their lines of credit were reduced in the same period of time. Some even had their credit called in early, and in some cases there, abruptly and with little to no notice, like fewer than 15 days.

The one saving grace of these struggling times is the JOBS Act, which makes it far easier for startups and other small businesses to raise money by legalizing soliciting funds from the public. If you're in a pinch and are thinking of taking advantage of it, read our two major interviews on the topic: how to secure crowdfunding, and how to avoid fraud in your crowdsourcing efforts.

David Wolinsky is a freelance writer and a lifelong Chicagoan. In addition to currently serving as an interviewer-writer for Adult Swim, he's also a comedy-writing instructor for Second City. He was the Chicago city editor for The Onion A.V. Club where he provided in-depth daily coverage of this city's bustling arts/entertainment scene for half a decade. When not playing video games for work he's thinking of dashing out to Chicago Diner, Pizano's, or Yummy Yummy. His first career aspirations were to be a game-show host.

Contact Us