DMG Co. Reveals US Small Business Growth Is On The Rise

    PROVIDENCE, RI, February 27, 2016 /24-7PressRelease/ -- According to the 2016 State of Small Business Report, 71 per cent of small business owners in the US say they expect an increase in revenue this year. Outsourced sales and marketing firm DMG Co. says: "It is fantastic to see that today's successful small businesses came out of the recession much stronger than they were before. There is an optimistic wave of entrepreneurship in America."

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DMG Co. explains that small businesses are the backbone of the US economy. They create new jobs and bring growth and innovation to local communities. In fact, the State of Small Business Report reveals that 50 per cent of small businesses plan to hire new employees in 2016, compared to 38 per cent in 2015. "There are many great success stories of entrepreneurship in the US indicating that small business growth is on the rise," says DMG Co:

First of all, statistics show that the so-called millennials, born between 1980 and 2000, have contributed greatly to the major economic powerhouse and is the largest demographic in the US workforce, expected to spend $200 billion annually starting in 2017 and $10 trillion in their lifetimes. "Today's millennials are one of the most entrepreneurial-minded generations and have a huge impact on the US economy," explains DMG Co. They are said to be more entrepreneurial and socially conscious than any generation before. In fact, according to a study conducted by Bentley University, 66 per cent of today's millennials say they aspire to open up their own business one day.

Furthermore, due to increasingly developed technology, there is a growing trend of solo-entrepreneurs generating over $1 million in sales annually. For example 27-year old Allen Walton who runs his SpyGuySecurity.com business from home or Harry Ein, who projects $4 million in revenue this year for his one-man Perfection Promo business. Data from the U.S. Census Bureau reveals that there were 30,174 non-employer firms generating between $1 million and $2,499,999 in 2013, up from 26,744 in 2011.

Another reason why small business growth is on the rise is that banks are giving more loans than ever to SMEs. "A few years ago, it was rather difficult for small business owners to borrow money," says DMG Co. "This has completely changed. Thanks to a number of lending schemes and flowing bank credits, small businesses have access to the relevant resources and can invest in further business opportunities," continues DMG Co. A report from Biz2Credit, an online marketplace for small business loans, shows that approvals for business loans were at the highest rate in June 2015.

DMG Co., an outsourced sales and marketing firm based in Providence, RI looks ahead into a positive future that holds many new opportunities for entrepreneurs. The firm is one of the leading sales and marketing companies conducting B2B, B2C, events and retail alternate channel marketing campaigns on their clients' behalf.

Source: http://www.allbusiness.com/3-signs-great-things-are-happening-with-small-business-growth-103693-1.html

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