There are signs that the economy is coming out from the last recession as reported from recent surveys that found that small business lending is on a rise.

‘Greenwich Associates’, a market research firm for major banks recently surveyed small businesses and found that 59 percent of businesses applied for loans within last 12 months and the demand increased in every quarter, henceforth. Out of all the businesses that filed applications for loans, 57 percent reported winning approval from banks. That normalcy is returning to small business lending market is found from the research conducted by Greenwich.

A similar survey is also being conducted by ‘Capitol One’ states that 85 percent of U.S. small businesses found financing up from 70at same time last year. Business ownership hence becomes an even more viable option when it comes to career transition especially when the availability of capital is made easier.

A Small Business Lending Summit in Washington, D.C, have found leaders belonging to the regulatory, financial, and small business communities need to take a proactive role in developing and coordinating aggressive measures so as to improve access to credit and spur business growth.

You never know what’s in store for you! For instance, we cannot control outside events like recession. No matter what you do, it is going to affect all of us in some way or other. However some simple tips like optimum asset allocation, debt reduction, keeping emergency cash will help you tide over the rough times, without much damage.

Check your expenses and adhere to your budget

People tend to forget that good times don’t last forever. If you spend lavishly during good times and continue the trend without adapting to changes in circumstances, very soon you will land in financial trouble. Hence to ensure you lead a consistent lifestyle, always draw out a budget and ensure you stick to it religiously. E.g. if you have allocated Rs 500 per month towards your entertainment expenses, don’t spend a rupee more than Rs. 500. It will not only help you handle your finances better but will develop your willpower by delaying instant gratification.

Don’t rely on future income

Depending on future income in order to spend today, is one of the biggest mistakes we make. This has been evident during a job crisis, where youth racked up a huge credit card debt and took heavy loans. But whe

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Small businesses that wish to grow are facing challenges when they seek financing. It is difficult to secure loans and things have become more expensive than it used to be before the recession. It is true that lending is picking up in Charlotte and around. But then it has not been enough to lead to job growth. In-fact, business owners and advocates are of the opinion that it is a slide in the economic recovery.

Lenders are saying that they want to make deals but small businesses are reluctant to take on more debts. They have acknowledged implementing strict standards as a result of devastating financial crisis and tougher regulations. A study has come to the conclusion that 30 percent of small businesses looking for credit can qualify for Small business administration backed loans or traditional loans. The interest rate for such loans would remain below 8 percent.

The economy gets powered by small businesses and firms having less than 500 employees. Half of the country’s private sector workforce gets hired by small businesses. But then it is also true that enterprises are found to experience greater job losses as economy keeps on shedding jobs. The reason for it is dependence on larger firms.

Nava Bharat Ventures Ltd. , is expected to complete the construction of a 300-megawatt coal-fired thermal plant in Zambia by 2014 as it seeks to boost the country’s power generation capacity, a company executive said Saturday.

Nava Bharat has finalized the detailed layout of the power plant, which will be located near Zambia’s largest coal mine, Maamba Collieries Ltd. The plant is expected to initially generated at least 300 MW of power, company director Ashwin Devineni said in a statement. It will later be upgraded to generate an additional 300 MW, he added.

According to Devineni, Nava Bharat is planning to invest $750 million at the mine and the power plant. Construction at the power plant will commence before the end of the year.

Nava Bharat bought a 65% stake in Maamba last year and has since stepped up investments at the former major supplier of coal to Zambia’s copper and cobalt mines. Zambia’s state mining investment company, ZCCM-IH, retained a 35% stake in the mine.

Maamba, which had ceased operations in 2008, resumed output in May after getting new equipment. The mine is expected to reach full-scale production by August and is targeting to produce at least 360,000 tons of coal by the end of the year.

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