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Small Business is the Lifeblood of New Jobs, TD Bank Executive Says

Joining me on PowerTalk this week to talk about the economy, the outlook for small business and job creation prospects, as well as the availability of credit, is Jay DesMarteau, head of Small Business, SBA, Restaurant, & Government Banking at TD Bank.

Each week on PowerTalk, we go behind the scenes to put you in the know — this time we’re talking about the lifeblood of job creation here in the United States — small business. Based on the recent July employment report, which disappointed on several levels, it seems that small business is only moving at half speed. The weakness in hiring is not all that surprising, given some of the data that Jay shared with me — only 17% of small businesses planned to hire at least one new employee, down from 32% six months ago. However, more than three-quarters of small business owners intend to keep staffing levels the same, up from 59% in December.

If you or someone you know owns a small business or is looking to start one, then you know that access to credit or business loans is important. The need for credit holds true whether youâ??re working on a new business or one that is trying to reach the next level. Access to capital is needed to grow that business and put more people to work, whether you are an entrepreneur or running an existing business that is looking to expand to another location, add another product line, bid on another project or maybe even expand its hours of operation.

To listen to this week’s PowerTalk, click here.

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Chris Versace is a financial columnist and equity analyst with more than 18 years of experience in the investment industry. He has been ranked an All Star Analyst by Zacks Investment Research and his efforts in analyzing industries, companies and equity securities have been recognized by both Institutional Investor and Thomson Reutersâ?? StarMine Monitor. Heâ??s frequently published in The Washington Times and is a frequent contributor to the daily radio show â??Americaâ??s Morning Newsâ?ť and â??Americaâ??s Radio Newsâ?ť. He has been quoted in the Wall Street Journal, Investorâ??s Business Daily, The Street, USA Today and other publications. In addition, he can be frequently seen on televisionâ??s â??Fox Businessâ?ť show.

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Small Business is the Lifeblood of New Jobs, TD Bank Executive Says

Joining me on PowerTalk this week to talk about the economy, the outlook for small business and job creation prospects, as well as the availability of credit, is Jay DesMarteau, head of Small Business, SBA, Restaurant, & Government Banking at TD Bank.

Each week on PowerTalk, we go behind the scenes to put you in the know — this time we’re talking about the lifeblood of job creation here in the United States — small business. Based on the recent July employment report, which disappointed on several levels, it seems that small business is only moving at half speed. The weakness in hiring is not all that surprising, given some of the data that Jay shared with me — only 17% of small businesses planned to hire at least one new employee, down from 32% six months ago. However, more than three-quarters of small business owners intend to keep staffing levels the same, up from 59% in December.

If you or someone you know owns a small business or is looking to start one, then you know that access to credit or business loans is important. The need for credit holds true whether you’re working on a new business or one that is trying to reach the next level. Access to capital is needed to grow that business and put more people to work, whether you are an entrepreneur or running an existing business that is looking to expand to another location, add another product line, bid on another project or maybe even expand its hours of operation.

To listen to this week’s PowerTalk, click here.

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