In order to succeed, small business owners devote a substantial amount of time, effort and funds to their companies. The question is, while these owners are busy meeting the needs of customers, who's meeting their needs?
Small businesses are America's backbone. According to the U.S. Small Business Administration, 54% of all sales within the U.S. are from the country's 28 million small businesses. As these companies are focused on customer service, purchasing inventory, hiring staff and building infrastructure, they often are forced to do so without the tools needed to support and manage their financial health.
Because small businesses tend to be deeply ingrained in their local environment, credit unions are especially well-positioned to be their financial partners. The two often share a deep connection with their local neighborhoods as well as a commitment to giving back to the community. In fact, credit unions can increase their community impact by supporting small businesses and enabling them to stimulate local growth. As a bonus, small businesses have the potential to evolve into larger companies that are likely to remain loyal to their financial partners.
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