The comprehensive SBRB study of owners and managers of small construction and contracting businesses also indicated their relationships with lenders are mostly "good" or "excellent," but they are challenged by higher loan rates and stricter covenants.
The nationwide SBRB / Business Today Small Business Lending Relationship and Loan Requirements Study found 85.5% of the small construction and contracting business enjoy a "good" to "excellent" relationship with their principal lenders.
The SBRB / Business Today study also indicated that 74.4% of the relationships with their current principal lender have lasted at least five years, with 52.3% lasting 10 years or more.
This is the first study of the retail industry by the SBRB, which intends to issue quarterly retail industry studies going forward, as it does for other industries, including manufacturing, construction and contracting, and food processing.
The SBRB ascertains and reports the opinions of small-business owners and managers on a wide variety of topics related to their own businesses as well as national and international issues that may affect their operations.
Even though the SBRB recently reported that its Manufacturing Industry Small Business Confidence Index (SBCI) rose 3.3 points to 40.3 during second quarter, there is great concern about the state of the economy--now and into the future.
The SBRB study is a voluntary survey conducted quarterly.
The SBRB conducts these studies for the benefit of small business owners and managers.