Funding Small Business Growth

Posted under: SMB
Date: 2024-01-30
Funding Small Business Growth

Last year was challenging for small businesses due to high interest rates and low unemployment, as well as rising personal debt, declining household savings, and rising costs of essentials. The manufacturing sector also faced disruptions in the global supply chain due to wars, pirating, geopolitical posturing, and severe weather. As 2024 approaches, Kapitus predicts a continued trend towards the repatriation of manufacturing to the US and its near-shore allies. This trend will benefit most US manufacturers as businesses seek shorter and more reliable supply chain alternatives. The US government is promoting repatriation through the 2021 Infrastructure Act and the 2022 Inflation Reduction Act, integrating new manufacturing technologies to improve efficiency and reduce labor costs. Kapitus remains optimistic about the US economy and manufacturing role despite geopolitical challenges and supply chain challenges, predicting lower interest rates for US firms in 2024.

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