2014

Small Business Owners Optimistic About the Economy Post-Election October 2012 SB Authority's Market Sentiment Survey Results

NEW YORK, Nov. 1, 2012 /PRNewswire/ -- Newtek Business Services, (NASDAQ: NEWT), The Small Business Authority, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 1,300 respondents, one of the key findings from the October survey is 70% of business owners expect that, after the election, the economy will be better than it was in 2012. Additionally, 31% of those polled expect that holiday sales will increase 4% or more from last year, 52% expect holiday sales to at least remain unchanged from last year and 17% expect holiday sales to decrease 4% or more from last year.

The full October 2012 results showed the following:

Poll Question

Poll Answer

Percentage

 

 

 

Do you expect holiday sales to be:

 

Down 4% or
more from last
year

 

17%


 

Unchanged from

 last year

 

52%

 


Up 4% or more

 

 

 

31%

 

Do you see the economy after the
election being better or worse than
2012?

Better

 

 

70%

 

 

Worse

 

 

30%

 

 

Barry Sloane, Chairman, President and CEO of The Small Business Authority commented, "We believe that our sentiment survey represents a sense of optimism among small business owners. The gradual improvement in employment, improvement in the housing sector and a good performance in the stock market has given business owners a sense of renewed optimism. Clearly the population and business owners' alike look forward to the presidential election coming and going. Contrary to some opinions, those polled did not factor in the fiscal cliff as a fear in their optimism. Most business owners believe that Congress and the current or new President will act to remove that obstacle to growth. Business confidence and optimism is volatile and fickle, but for now business owners, as our survey predicts, likes the fourth quarter as well as post-election business opportunity."

About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority, provides the following products and services:

  • Electronic Payment Processing: eCommerce, electronic solutions to accept non-cash payments, including credit and debit cards, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs.
  • Managed Technology Solutions (Cloud Computing): Full-service web host, which offers eCommerce solutions, shared and dedicated web hosting and related services including domain registration and online shopping cart tools.
  • eCommerce:  A suite of services that enable small businesses to get up and running on-line quickly and cost effectively, with integrated web design, payment processing and shopping cart services.
  • Business Lending: Broad array of lending products including SBA 7(a) and SBA 504 loans through our lending subsidiary, Newtek Small Business Finance, Inc.    
  • Insurance Services: Commercial and personal lines of insurance, including health and employee benefits in all 50 states, working with over 40 insurance carriers.
  • Web Services: Customized web design and development services.
  • Data Backup, Storage and Retrieval: Fast, secure, off-site data backup, storage and retrieval designed to meet the specific regulatory and compliance needs of any business.
  • Accounts Receivable Financing: Receivable purchasing and financing services.
  • Payroll: Complete payroll management and processing services. 

Newtek Business Services, Inc., The Small Business Authority, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today's marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the NewtekTM brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.

Note Regarding Forward Looking Statements
Statements in this press release including statements regarding Newtek's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov.

Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@thesba.com 
Contact: Brett Maas
Telephone: (646) 536-7331 / brett@haydenir.com 

Rubenstein Public Relations
Contact: Jonathan Goldberg
Telephone: (212) 843-9335 / jgoldberg@rubensteinpr.com

SOURCE Newtek Business Services



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