The Pittsburg State Kelce College of Business has released its economic summary for the first quarter of 2024. Overall, the Pittsburg Micropolitan Statistical Area (PMSA) is still growing, often at rates above the state and national averages. According to the summary, Pittsburg’s economy relies on small businesses, those with fewer than 50 employees, which make up more than 94 percent of all businesses in the area. Supporting these businesses requires a healthy local banking industry to supply capital for growth and expansion. On average, small, local banks approve 82 percent of small business loans, while larger, national banks average a 68 percent approval rate.
Source: Morning Sun
