Coming out of the recession, small businesses are
building momentum, as a post-recession job engine, employer to almost half of
all payroll employees, and a contributor of an estimated $5.8 trillion to GDP
in 2013. Meeting their financial service needs is essential to economic growth—and
provides continued opportunity. But while lending practices show some signs of
loosening, many small businesses—especially smaller and younger firms—face
continued difficulty getting credit; and while small business personal card use
among small businesses is on the rise, business credit card use has been on the
decline (despite card associations and leading megabanks’ building out
integrated sets of products and services around their card platforms). In this
post-recession environment, community banks maintain tremendous importance to
lending and relationships, although their foothold is slipping. And while
programs have been launched to help women and minorities launch and grow small
businesses, their participation still lags, and black and Hispanic small
businesses still comprise only a sliver of SBA 7(a) loan volume.
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This
report assists in understanding these and other trends shaping the market for
small business financial services. Report analysis includes the following:
- Moored by survey analysis (including detailed
2008-2012 trending), the report studies how small business owners, small
business managers and the self-employed interact with banks, including the card
brands they use and the banks with which they have relationships.
- 2008-2012 survey trend analysis extends to small
business owner, small business manager and self-employed household income;
securities ownership and worth trends; and residential ownership and worth
trends; as well as business purchasing decision analysis; major banks used for
credit cards, banking products used; and smartphone penetration. Small business
credit card growth metrics and rationales are also included.
- Small business lending trend analysis customized
to provide added granularity and narrower bank asset-size bands, for
FDIC-insured commercial banks, all financial institutions submitting Reports of
Condition and Income; and institutions covered by the Community Reinvestment
Act (CRA) data. Analysis includes nonfarm and commercial & industrial
segment analysis, and (regarding call report data) six bank asset categories,
loan value segmentation, microloan analysis, and much more.
- Trending of small business employment and firm
size; degree of entrepreneurship; income and profit trends; contribution to GDP
and its component industries; contribution to commercial spending; business
challenges; and use of credit (trade credit, credit lines, loans, and credit
cards).
- Small business financial services strategies of
American Express, MasterCard, Visa and JP Morgan Chase, with an emphasis on
card programs.
- Trends shaping mobile payments, focusing on
popular small business options PayPal and Square; as well as microlending and
crowdfunding trends.
- Developments in small business credit access
legislation and U.S. Small Business Association programs and trends, as well as
U.S. Treasury small business lending initiatives.
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Table of Content
Executive
Summary
Report
Scope
Consumer
survey methodology
Chapter 1: Overview
Chapter 2: The Market
Chapter 3: Small Business Owners, Management &
The Self-Employed
Chapter 4: The Competitive Arena
Chapter 5: Small Business Lending Trends
Chapter 6: Small Business Credit Card Trends
Chapter 7: Other Small Business Financial Services
Trends
