The presidential election is behind us and the fiscal cliff has been avoided, for now at least. With these two potentially derailing issues out of the way, business surveys and lending analyses indicate small businesses are ready to take the lead in U.S. economic growth in 2013.
These are some of the key predictions for small businesses in 2013:
- Investment levels around 10 percent, up from -3 percent in 2012.
- Innovations in energy and manufacturing will promote new industry leaders.
- Businesses are planning ahead for higher taxes in 2013.
- Businesses are tentatively holding on to higher cash amounts, averaging 7 percent of corporate assets (the highest rate with the 1960s.)
- Capital spending bump at the end of 2012 indicates opportunities for profitable projects are expected or already underway for 2013.
As we noted recently, many small businesses turned to leasing new equipment rather than buying during the recession. Leases and rentals can allow businesses to acquire equipment on a long-term or short-term basis, thus maintaining production while easing into equipment ownership as the economy stabilizes.
The attorneys at the Scolieri-Beam Law Group, P.C. provide cost-effective legal advice for all aspects of managing your business, including reviewing and structuring equipment leases for owners or lessors.
For more information about growing your business, contact the attorneys at the Scolieri-Beam Law Group, P.C. Located in western Pennsylvania, our attorneys are experienced in Pennsylvania business law and can take care of the details for you every step of the way. Contact us today at (412) 765-0546 or via email at info@scolierilaw.com.