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Small retailers continue growth period


According to recent research conducted by MasterCard Advisors and Wells Fargo, June spending at American small retailers has increased 8 percent over 2011.

"Small retailers account for approximately a third of total retail sales in the U.S., so a detailed understanding of this sector is crucial to understanding the economy as a whole," said Michael McNamara, global solutions leader, MasterCard SpendingPulse.

The SpendingPulse report also found smaller retailers have been outpacing the overall retail market for the past nine months, proving that small businesses are beginning to show growth.

Marc Bernstein, head of small business for Wells Fargo, said strong retail sales are good for the country, as small businesses are thought are one of the main drivers of the national economy. Learning insights about small retailers proves to be timely data for economists throughout the country.

Small business growth is always good for the economy, but it is important for these business owners to temper their excitement. The economy has been in flux for years, showing the need to seek protection with small business insurance policies.

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