The small businesses lining Main Street will feel a profit pinch as consumers’ wallets snap shut. Coming into the new year, these firms — the nail salons, retailers and specialty shops, the restaurants, too — raised prices to combat their higher operating costs. But now there’s blowback. Too few...
As working capital from traditional lenders evaporates, SMBs are seeking fresh funds from digital channels. That’s according to PYMNTS and NCR’s report “Digital Banking Rises To Meet SMB Needs,” which showed that as SMBs raised prices last year to meet higher supplier and operating costs,...
The MENA-focused B2B eCommerce Tradeling has announced a collaboration with Mastercard. As part of the partnership, Tradeling business-to-business (B2B) customers in the United Arab Emirates (UAE) using Mastercard SME or Business debit, credit, or prepaid cards will be able to redeem a 5% discount on...
Banks’ pullback on small business lending is creating an opportunity for FinTechs to step in. In data released on Tuesday (Jan. 10), small business financing firm Biz2Credit noted that there’s been little to no growth in lending to small- to medium-sized businesses (SMBs). As for the...
SMBs are already dealing with inflation but now must bear the brunt of higher interest rate hikes too. It’s an economic one-two punch that forces legions of entrepreneurs and small business owners to swallow higher loan and supplier costs when they’re already struggling to grow revenue. The...
Despite macro headwinds, a small percentage of SMBs don’t plan to use tech to improve margins. As detailed in the report “Main Street Health, Q4 2022: SMBs Brace for a Recession,” we found that inflation and the threat of recession are real headwinds to growth and give...
For Main Street’s small retailers, offering customers personalized financing options can be what separates a sale from a drive by. As much as consumers are cautious about what they buy right now, they’re also selective in terms of which credit products they use to finance...
Small business loans are becoming harder and more expensive to get in the United Kingdom. The Financial Times (FT) reported Thursday (Dec. 29) that less than half of small business loan applications in the U.K. were successful during the third quarter of 2022. Before the...
As inflation drove costs up, most Main Street businesses got busy hiking their own prices too. While small- to medium-sized businesses (SMBs) are typically reluctant to take this route, new PYMNTS research revealed that the majority of SMBs have reacted to rising supplier costs, energy,...
