This infographic from OnDeck Main has some really fascinating information in it. Although it has an obvious bias toward capital and financial needs, there is some really solid value for a small business owner here. For example - the number in the headline - only 34% of small businesses that need capital get it. How does that come about? Well, only 55% of businesses applied to get capital from some source (15% didn't need any and 30% didn't even try although they needed it). That's already a pretty low percentage, but the next number shows why 30% of small businesses don't even bother to apply for financing. That number is 36% - the number of small businesses that apply for financing that actually get it.
Some other numbers that show why this is so hard - of those that applied, 83% were denied by their bank - 82%! Some (18%) clearly find financing another way (most likely friends and family financing).
The only thing I disagree with is that the infographic states that of the people theyRead More »from Only 23% of small businesses that need capital get it