While it may seem that mega-corporations dominate our economy, in actual fact, over 90 percent of businesses are considered small businesses. In the United States, this translates to over 50 percent of workers employed by small business which amounts to 24 – 30 million small businesses according to the Small Business Administration. In Canada, about 48 percent of the total workforce work for or operate small businesses according to Industry Canada calculations from Statistics Canada. In either case, many small businesses struggle with cash flow and gaining access to capital to finance their operation and to acquire equipment. According to the Equipment Leasing & Finance Foundation, approximately 8 out of 10 businesses use financing as a means to acquire equipment. However, traditional routes are failing to keep up with small businesses and their behavioural shifts when they are looking to secure equipment financing.
- Website: equipmentwallet.com/