Over the past three decades during every recession, the small businesses who had less than 100 employees came forward and began hiring. Small businesses were the ones who pulled the country from the entangle.
Not only the the factor of tight credit is hindering the growth of small businesses as per Obama administration and others, there are also few other factors are also hindering the hiring process in small businesses.
There is a drastic drop in the creation of small businesses. The destruction of real estate market. There is much uncertainty in the point of view of economic conditions in the country.
Devastating levels of unemployment in that country this time than in the previous downturns. It is appearing to be bound near 10 percent.
Due to the depression in real estate market, there is much impact on the small businesses. Real estate was the vital force for the small firms. The real estate holdings have often been generators for the profits and they also provided collateral for the new machinery or other expansions.