From the Wires
The Small Business Authority Releases The October 2012 SB Authority Index
The SB Authority Index Shows Improvement Within The Small Business Economy
By: PR Newswire
Dec. 5, 2012 10:00 AM
NEW YORK, Dec. 5, 2012 /PRNewswire/ -- Newtek Business Services, Inc., NASDAQ: NEWT, The Small Business Authority, announced the release of the SB Authority Index of small business indicators for October 2012 which has reached 114.97 points. Newtek's proprietary merchant processing volume, retail sales and new business formations led the increase. The SB Authority index is up .92% from September 2012.
President and CEO, Barry Sloane said, "Despite sluggish job growth, consumer spending as depicted by merchant processing volume and retail sales continues to push the economy forward. It is questionable whether discounting and early store promotions will cannibalize December sales for the holiday season."
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority, provides the following products and services:
Newtek Business Services, Inc., The Small Business Authority, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek ® brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today's marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the Newtek ® brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.
Note Regarding Forward Looking Statements
Statements in this press release including statements regarding Newtek's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov.
SOURCE Newtek Business Services, Inc.
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