Majority of Business Owners Have No Plan to Change Headcount

NEW YORK, Feb. 09, 2016 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ:NEWT) (www.thesba.com) The Small Business Authority®, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 960 respondents, the key finding from the January survey is 73% of business owners plan to keep their number of employees the same.

The full January 2016 results showed the following:

Poll QuestionPoll AnswerPercentage


Will your company:

Hire more staff 24%
Reduce headcount 3%
Keep it the same 73%

Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “Given the recent GDP results estimated for the fourth quarter of 2015 at an increase of 0.7% and the third quarter coming in at 2.0%, it is clear that independent business owners are viewing economic growth as lackluster. The recent unemployment report of non-farm payrolls increasing by 151,000 in January and the unemployment rate coming in at 4.9% may appear good on the surface but still depicts a slight upward sloping trend in hiring. Most independent business owners are looking at technology to improve efficiencies without adding to headcount in their businesses. Our survey depicts this trend.”

About Newtek Business Services Corp.

Newtek Business Services Corp., The Small Business Authority®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 SMB accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.

Newtek’s and its portfolio companies products and services include: Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, Insurance Services, Web Services, Data Backup, Storage and Retrieval and Payroll.

The Small Business Authority® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.

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." 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 www.sec.gov

For more information, please visit the following website:
www.thesba.com

FROM: Newtek Business Services Corp. http://www.thesba.com Contact: Simrita Singh Telephone: (212) 356-9566 / ssingh@thesba.com Investor Relations Contact: Jayne Cavuoto Telephone: (212) 273-8179 / jcavuoto@thesba.com Newtek Business Services Corp. Barry Sloane Chairman and CEO 212-356-9500 bsloane@thesba.com

Source:Newtek Business Services Corp.