Even while credit lines becomes harder and harder for small businesses to obtain, business owners are relying on them more and more. At least, that’s what BusinessWeek’s small-business blogger John Tozzi discovered in The National Small Business Association’s year-end economic report.
As Tozzi notes, 28 percent of business owners had a line of credit or credit-card limit decreased in the last six months; meanwhile, half of those surveyed are using credit cards, up from 41 percent in August. Also notable: An estimated one in four small-business owners carries a monthly credit card balance, and there’s “significant confusion” among small-business owners regarding whether their credit cards are personal or business accounts.
Source:
BusinessWeek: Small Business Owners Have Credit Lines Pulled
