2014

Survey of Independent Business Owners Shows They Prefer Less Government Spending and A Smaller Federal Government May 2012 SB Authority's Market Sentiment Survey Results

NEW YORK, June 7, 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 1,000 respondents, one of the key findings from the May survey is 80% of business owners prefer a smaller Federal Government as opposed to a larger one. Additionally, 73% of business owners believe the federal government should cut the growth of spending. When considering the upcoming Presidential election and which candidate is better suited to help small business, 52% of business owners prefer Barack Obama and 48% think Mitt Romney is the better choice.

The full May 2012 results showed the following:

 

Poll Question

Poll Answer

Percentage


Barack Obama

52%

Which Presidential candidate is better
suited to help small business?

 

Mitt Romney

48%

 

Do you favor larger or smaller Federal
Government?

 

Larger

20%

Smaller

80%

 

Do you believe the federal government
should spend more money to stimulate
the economy or step aside and cut the
growth of spending?

Cut Spending

73%


Increase
Spending

27%

 

Barry Sloane, Chairman, President and CEO of The Small Business Authority commented, "Our poll surveyed independent business owners and our expectations were met as small business owners clearly prefer less government spending and less government interference in the small business economy.  We were somewhat surprised that our sample appeared to favor Obama as a better advocate for small business.  The differential between Obama and Romney as an advocate for small business narrowed over the course of May, as time wore on, from 10% to 4%, which may also be indicative of a trend. We do think that Obama's favorability advantage over Romney may overshadow small business policy implications."

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 Newtekbrand. 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 Newtek™ 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.

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

SOURCE Newtek Business Services, Inc.



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