Economy Needs Small Business To Rally: CEO
The lag in growth of small businesses is stalling a full economic recovery, Pitney Bowes CEO Murray Martin told CNBC Friday.
“Small business continues to be our biggest concern,” said Martin. “(We’re concerned about) the access to cash for small businesses, the support of growth for small businesses and we’re not seeing the start of as many as we’d like to see and really that is the heartblood of our economy,” he added.
The mailing-equipment maker relies on small businesses for more than 50 percent of its revenues, Martin said. “It’s a significant component within our growth,” he added.
Because small businesses are still struggling, Martin said it’s “too early” to declare a recovery yet.
"A month or two does not a trend make. We had some pent-up demand for goods and services from the holdback of the last couple of years," Martin said. "I would say (if we get) a couple of quarters of consistency, then that could start to emerge as a trend."