Entrepreneurs, the Recession and the Merchant Cash Advance

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During this Great Recession, many small businesses have come to an end, some after decades of operation.  Both consumer spending and bank lending have been low and unemployment rates have been high.  Still, many new businesses have been born out of the recession.  According to Challenger Gray & Christmas’ quarterly Job Market Index, “8.7 percent of job seekers gained employment by starting their own businesses in second quarter 2009,” wrote Jennifer Wang for Entrepreneur.

As stated by Wang, it is not uncommon for startup rates to remain steady through recessions.  In fact, according to Inside CRM, many big businesses such as Hyatt Corp., Burger King Corp., IHop Corp., Hewlett Packard and even Microsoft Corp., were born during respective recessions.

What This Means for the Merchant Cash Advance Industry

Businesses born out of recessions are of a different breed.  They’ve seen and conquered obstacles during their startup stages that many small businesses only encounter after years of prosperity.  In other words, entrepreneurs who start their businesses during recessions already have innovative states of mind.  As cliché as it may sound, these “recessionpreneurs” are accustomed to breaking tradition, working against the odds and thinking outside of the box.  They live by the idea that when the going gets the tough, the tough get going.  Therefore, they are very likely candidates for merchant cash advances, as these characteristics are essential for understanding the many benefits of the merchant cash advance and ultimately making the decision to utilize them.

Apply for a merchant cash advance today for the chance to get up to $500,000 for your recession-born business!