With Small Business Saturday approaching, there is no better time to look at small business statistics from the past year to gauge current economic conditions and overall performance for SMBs. These statistics show just how vital small businesses are to the national economy. They also provide insight into the challenges SMBs face today and highlight […]
The trucking industry faces another financial obstacle as new heavy-duty truck tariffs officially take effect Nov. 1. The decision, which falls under Section 232 of the Trade Expansion Act, impacts most imported medium- and heavy-duty trucks. While the move is designed to strengthen domestic manufacturing, it’s expected to have massive effects across the industry. The […]
Consumers hoping for relief from elevated interest rates can breathe a slight sigh of relief, as the Federal Reserve announced on Wednesday it will be decreasing the lending rate to a range of 4-4.25%. While this marks the first rate reduction since December 2024, it was the second consecutive meeting without unanimous approval over the […]
According to new Census Bureau data, Utah saw a higher-than-usual number of EIN applications in December 2024 with a 44% increase in business applications from November to December. Comparatively, the average change from November to December that Utah saw over the last 10 years was a 3% drop in applications. The 6,491 applications that the […]
If you’re a small business owner, you’re likely going to run into working capital problems. According to the U.S. Chamber of Commerce, a lack of adequate working capital is one of the biggest challenges for small businesses with 77% of owners citing a concerning lack of access to capital. To combat this issue, the SBA […]
Artificial intelligence is becoming an increasingly popular global topic. From February 2022 to February 2024, Google searches for “AI” rose by a staggering 1000%, highlighting a common interest in just how impactful AI can become and what the implications might be. The trucking industry is not exempt from those impacts. Self-driving cars have arrived and […]
Consumers hoping for relief from the elevated Fed interest rate will have to wait further, as The Federal Reserve announced on Wednesday it is holding steady on its 5.25-5.50% lending rate in a continued effort to combat inflation. The 23-year-high, which peaked in July 2023, has remained unchanged following five consecutive policy meetings. Policymakers insist […]
Ground Picture // Shutterstock The economy has small business owners in a conundrum. Objectively, small businesses are doing well. Consumers are still spending. Retail sales rose to more than two times what economists predicted as of September 2023, according to the Commerce Department. But, confidence among these business owners is waning, and many are pessimistic […]
Andrey_Popov // Shutterstock Americans are being rejected for loans at rates unseen in at least five years. The difficulty getting approval is hitting applicants across the board—including those in the market for homes, mortgage refinancing, vehicles, credit cards, and credit card limit increases. altLINE analyzed data from the Federal Reserve Bank of New York’s Credit […]
mavo // Shutterstock Inflation has nothing on the American entrepreneurial spirit, which, judging by the volume of new businesses formed, continues to see potential in the post-pandemic economy. To better understand the post-COVID-19 outlook for entrepreneurship in the U.S., altLINE analyzed data and reports from the National Bureau of Economic Research and the Census Bureau. […]
Monkey Business Images // Shutterstock Nearly 434,000 people applied for business applications nationwide in April 2023, according to Census Bureau data. Of them, only about 1 in 3 were deemed likely to become employers. Small businesses are the nation’s most common enterprises and employ nearly half of private workers, according to the Census Bureau. But […]
Canva The average U.S. business spent $206,383 on capital expenses in 2021, but some types of businesses are more expensive to operate—and more capital-intensive than others. Whether a business requires brick-and-mortar space, is run online, or consists of providing services is one key factor in determining the amount of capital funding needed. There are many […]
Rido // Shutterstock If you’re thinking of starting a business, you might want to give some consideration to location. In which state would you have the best chance of success? Iowa tops the list, followed by Wisconsin, South Dakota, Kentucky, and Minnesota. And the worst? The state of Washington. The vast majority of small businesses […]
giggsy25 // Shutterstock The first two years can make or break a business. About 75% to 85% of companies typically make it through their first year. If they succeed for that long, their survival rates tend to rise with each passing year. As startups ramp up operations and start building a customer base, funding is […]
Follow Focus // Shutterstock As the U.S. economy falters and the specter of a possible recession looms large, small business owners may want to prepare for such an event before it hits to reduce the impact of a potential financial slowdown. As Americans prepare for a possible economic downturn, altLINE compiled five strategies from news […]
bluedog studio // Shutterstock Only some companies that survived the COVID-19 crisis can use the same blueprint for the next economic downturn. To compare business strategies for surviving the recent COVID-19 crisis and a typical recession, altLINE analyzed research from the World Bank, data from the Federal Reserve, and news reports. A recession is usually […]
The Southern Bank Company, a full-service bank based out of Gadsden, AL is pleased to announce that 2017 will be its 80th anniversary. The bank has branch locations in Gadsden, Guntersville, Albertville and Centre, with a specialty commercial lending division, altLINE, operating out of Birmingham. The bank would like to thank the community for great […]
Thanks to everyone who came out to The Southern Bank’s Putting Contest at the Georgia Staffing Association‘s 16th Annual Golf Tournament! It was a great afternoon of golf and networking with many members and guests of the GSA. Congratulations to Charles Creech, of Synergy Insurance, and Mike Mitchell, a guest of EmployBridge, for winning The […]
