Story perspectives

U.S. Business Applications Rise Amid Credit Challenges

1/11/2025

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Summary

Story summary

In December, U.S. business applications hit 457,544, marking a 1.5% increase from November, indicating growth in professional services and construction.
Business formations are projected to rise by 2.6% in 2025, with professional services increasing by 4.6% and construction by 3.2%.
Limited access to credit affects small businesses; only 37% possess credit cards, impacting cash flow, particularly in construction, which faced $280 billion in slow payments last year.

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Story summary

In December, U.S. business applications hit 457,544, marking a 1.5% increase from November, indicating growth in professional services and construction.
Business formations are projected to rise by 2.6% in 2025, with professional services increasing by 4.6% and construction by 3.2%.
Limited access to credit affects small businesses; only 37% possess credit cards, impacting cash flow, particularly in construction, which faced $280 billion in slow payments last year.