Introducing the New Small Business Earnings Report by Biz2Credit
Biz2Credit recently released its latest Small Business Earnings Report, offering a detailed look at the financial well-being of small businesses across America. This monthly report analyzes the performance of small to mid-sized companies in the U.S. that have sought financing through Biz2Credit’s online platform.
The report serves as a valuable resource for understanding the earnings, revenues, and expenses of these businesses, as well as how inflation impacts their financial health over time. Key highlights from the report for the year 2024 include:
– The average earnings for the first 11 months of 2024 were $86,809, with average revenue at $747,618 and average expenses at $660,809.
– Inflation for the same period was 2.96%, slightly above the Federal Reserve’s target rate of 2.0%. However, this rate is lower than the averages for 2023 and 2022.
– July saw the highest average revenues at $824,700, while October had the highest average expenses at $709,000. The month of July also recorded the highest average earnings at $136,800.
– Comparing results to 2023, average revenues, expenses, and profits all showed variations, with revenues and expenses trending higher in 2024.
Rohit Arora, CEO and co-founder of Biz2Credit, emphasized the importance of small businesses in the economy and highlighted the challenges they face due to rising costs and inflation. He noted that small businesses are crucial for job creation and economic growth, urging attention to their financial well-being.
Going forward, Biz2Credit will continue to monitor the financial performance of small businesses through their online platform to provide accurate and up-to-date insights into the health of these companies. The data for the report is derived from real financing applications on Biz2Credit’s platform.
For more detailed information and to review the full Small Business Earnings Report, you can visit Biz2Credit’s website. Founded in 2007, Biz2Credit has facilitated over $8 billion in small business financing and continues to innovate with its Biz2X technology.
Overall, the Small Business Earnings Report offers a valuable snapshot of the financial landscape for small businesses in America. It provides a comprehensive view of key metrics like revenue, expenses, and inflation, helping stakeholders stay informed about the challenges and opportunities facing small business owners.
