top 6 trends driving opportunities in small business

1 comperemedia.com.................................................................................................................................................

......................................................................................................................

...........................

© 2013 Mintel Group Ltd. All Rights Reserved. Confidential to Mintel.

Top Six Trends Driving OpportunitiesSMALL BUSINESS CARDS:

© 2014 Mintel Group Ltd. All Rights Reserved. Confidential to Mintel.

Andrew Davidson, SVP Mintel Comperemedia

2 comperemedia.com.................................................................................................................................................

1. Optimism

comperemedia.com

According to the NFIB optimism is back up to 2007 levels due, in part, to slightly easing credit standards.

3 comperemedia.com................................................................................................................................................. comperemedia.com

2. RatesThe Federal Reserve has committed to low rates through the end of 2015 according to recent statements.


3. GrowthThe small business sector is growing rapidly with the number of small businesses up 49% since 1982 according to the SBA.


4. Checks A survey from the Association for Financial Professionals (AFP) found that, despite declining usage, checks still account for half of B2B payments.


5. Consumer CardsMany small business owners still use a personal credit card for business expenses when business cards typically have a lower APR, higher credit line and offer business benefits and apps that allow owners to allocate expenses.


6. RegulationsConsumer cards are now more tightly regulated than business cards which means issuers can charge higher fees (plus interchange has always been higher too).

top 6 trends driving opportunities in small business

Business