The Council of Economic Advisers recently released the 69th-annual Economic Report of the President, which reviews the United States’ accelerating recovery. According to the report, the economy is recovering from the Great Recession at an increasing pace, growing at an annual rate of 2.8 percent over the past two years, compared with 2.1 percent over the first three-and-a-half years of the recovery. The increase is especially noticeable in the labor market, where job gains have reached a pace not seen since the 1990s.
“Although we’re encouraged to see that the country as a whole is finally recovering from the recession, here at Universal Funding, our invoice factoring customers have been not only weathering this storm, but prospering throughout it.” – Henry Wozow, CEO
As compared to the rest of the country’s small and medium sized businesses, or SME’s, Universal Funding reports that their factoring customers are recovering and growing at a much faster rate than the rest of the country. The reason these businesses are actually prospering is because they have the readily available cash-flow that struggling businesses don’t have.
Additionally, since factoring companies like Universal Funding are not creating new debt for their customers, the customers are actually taking initiatives to grow their businesses. “With a healthy economic outlook, companies that are using factoring services in 2015 have positioned themselves to gain market shares in their industries,” states Wozow.