Small Business Accountants Miami credit quality improved slightly in the second quarter amid slower hiring and new worries about the European fiscal crisis, according to a new report from Florida Institute of Certified Public Accountants.
Small Business Accounting Firms financial strength continues to vary considerably across the county, however. In areas where hiring has picked up and earnings are growing, consumer spending has provided a much welcome boost to Small Business Accountants. Where spending is still weak, Small Business Accounting Firms credit quality remains poor.
The Florida Institute of Certified Public Accountants Small Business Accountants Miami Credit Index edged up 0.9 point in the second quarter of 2012, to 104.1 from 103.2. This is the index?s third consecutive quarterly improvement, after it declined for much of 2011. The report also indicated that credit quality will be slow to improve in coming months, and threats to consumer confidence and spending have become more prominent. Business confidence is in line with an economy growing below potential, and this could weigh on hiring through the rest of the year, postponing the emergence of a strong, consumer-led recovery.
Small Business Accounting Firms continue to get their financial houses in order, but the progress is slow and they remain cautious in expanding their operations. Until Certified Public Accountants step up more aggressively, the economy will struggle to grow.
The trend in business payment behavior continues to be a concern, according to the report. On average, U.S. Small Business Accountants paid their bills 7.4 days beyond contracted terms during the second quarter, compared with fewer than seven days this time last year. The average grew regardless of firm size, but large firms employing more than 100 people showed the greatest increase, along with firms with fewer than 19 workers.
Source: http://www.vieracpa.com/2012/09/small-business-accountants-miami-business-credit-conditions-improve/
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