Now that the recession has officially been deemed over by experts, it’s still a difficult time for business owners. For a long time, legislators have been focused on health care and that has taken the focus off of good lending practices and financial aid for businesses. Small businesses are now seeing some hope at the end of a long tunnel because President Obama is refocusing on credit lending for small businesses in an effort to increase jobs.

Unsecured loans and the unemployment rate

The unemployment rate skyrocketed during the recession. That was a main part of the problem; without money, consumers stopped spending. When consumers stopped spending, businesses suffered and were forced into layoffs that added to the number of unemployed. Jobs were eliminated and millions of Americans were left scrambling to make ends meet.

Legislators know that to truly turn the economy around they need to find ways of spurring businesses into creating jobs. One way to do that is to start lending. If businesses can find money for expansion, they can start creating full-time work to employ the millions of Americans who are currently in need of steady work. This is why the news that the Obama administration is focusing on revamping lending laws is so critical to the business world.

Concerns of business owners

Since the recession has been deemed over, the top priority is to get the economy functioning efficiently.  People are creating jobs and pushing growth, and unsecured loans are an important part of prompting a change. That and handling the heightened cost of health care for employees top the list of small business owners’ concerns. In addition, federal taxes are also high on the list of issues owners would like squared away more quickly. A January report by the National Small Business Association showed that only 61 percent of small businesses were able to procure adequate financing and that number was down from 78 percent in August of 2008.

Handling health care costs

Healthcare cost regulation is an important part of the small business world. Though the president put it on the back burner for a few weeks, that doesn’t mean it won’t come up again in the very near future. Some analysts are hoping that the competition between private and government-back healthcare providers helps to regulate the industry and bring costs down. Not only would that give small businesses some financial relief, but it also it would open the door for money to be utilized elsewhere.

The future of unsecured loans

In the future small business owners should expect to see considerable changes in the world of unsecured loans. Though rules will still be strict, there will be newfound focus on where the money, once procured, should go. The government is doing all it can to help businesses try to put the money into creating jobs, but only time will tell if that is truly the result of its efforts.

The numbers don't look good. To find debt relief, you may have to pack up and move where the jobs are. (Photo: flickr.com)

If consumers are looking for debt relief, one way to speed up the process is to go to cities heavily focused on creating jobs. According to MarketWatch’s annual survey of where businesses tend to settle and create employment, there are some cities that are far above the rest in job possibilities. The following is a list of the top three locations to visit.

Minneapolis-St. Paul, Minnesota

The Twin Cities have over 10 private and public firms that have totaled over $10 billion in sales. Throughout the recession, both cities have remained strong in commerce and the unemployment rate has remained consistently low. In addition, the Twin Cities have proven to be small-business friendly by earning a top ranking among all metro areas in that grouping.

So why are jobs so plentiful in the area? Douglas Baker, chairman and CEO at Ecolab based in St. Paul stated, “Why is it hard to get people here? Because they expect snow to be blowing in July.” Tom Valerius, VP of recruitment for United Health Group agreed, adding, “You sell them on the job, and then you sell them on the Twin Cities. At the end of the day, the big sell is directed toward the spouse more than the executive.”

The Twin Cities are home to 3M Co., General Mills, Travelers Cos, Bancorp, Medtronic, St. Jude Medical, Target and Best Buy. Andy Bessette, Traveler’s COO, stated, “It’s a very educated workforce. The people here, the school systems, are very good.” For consumers looking for jobs, the Twin Cities are a great place to start. Their large business force makes them relatively impervious to economic fluctuations.

Boston, Massachusetts

Another new entrant to MarketWatch’s survey is Boston. The city has moved up in rankings due to a heavy “concentration of Fortune 1000 and S&P 500 companies.” In addition, Boston remained stable in population growth. Like the Twin Cities, Boston benefits from citizens who have been educated in the city’s wide variety of higher-learning facilities, including Harvard University, Boston University and Massachusetts Institute of Technology.

They also have a wide variety of job openings due to a diversity of companies focused in health care, finance, technology, tourism and education. Tim Sweeney, director of public policy at the Greater Boston Chamber of Commerce, stated, “It really is the skilled workforce that drives these industries. Having that balance has really helped us to sustain the economy.” When consumers in other states are looking for ways to find debt relief, pay bills and handle expenses, Boston’s citizens are somewhat unhampered by the failing economy. A recent poll by the Chamber of Commerce showed that its residents have made small changes to their budgets, but overall have remained fairly stable as the recession has played out.

Denver, Colorado

Finally, the MarketWatch survey showed that Denver, Colorado is another city that has a wide variety of jobs for the unemployed. First Data Corp, building-materials company Pro Build Holds and MWH, a resource manager, are three large privately-held firms that are creating jobs for the population. Although the recession did affect the economy, jobs were mainly stable. As Harold Raminski, stated, “We didn’t have to resort to lay-offs or huge restructurings. We did some quick cut-backs of supplies and were able to rebound…We maintained the same level of hiring also.”

Going Where the Jobs Are

Many consumers are unemployed and having a hard time managing their finances. One of the ways to help the problem is to consider relocating to cities where jobs are plentiful. In particular, it’s the cities where the industries are widely varied that offer the best job possibilities and seem to be the most stable as the economy fluctuates. For people in need of debt relief, relocating may be a viable solution worth exploring.