When the economy tumbled in 2008, small businesses were forced to shift, adapt and struggle just to keep the doors open. Fears about the economy and their finances caused them to hold onto what they had, nervous about borrowing and spending.
talk small, hear small, eat, sleep and breathe small. Because when you’re trying to connect with a small business, you must understand everything about those who run them.
Though small business owners may be weary of the market, cyber security is not something they worry about. The PNC Economic Outlook survey found that only one in 10 small business owners were concerned about cyber security. Richard Bynum, executive vice president and head of business banking at PNC Bank, explains that “It is a big concern because it doesn’t take much more than one breach to have that nightmare scenario.” Read more
Small businesses struggle to receive help managing their books and getting the financing they need. In response, companies are creating alternate solutions that aim to specifically help small businesses.
WSJ.COM: Paypal ups loan sizes for small-business lending. Read more
FORTUNE.COM: Square Capital’s advance growing fast. Read more
FORBES.COM: Why is it so hard to serve small business? Read more
Don’t tell Staples, but a majority of small business owners won’t be seeking funding anytime soon.
That’s right. Staples, the place small business goes to for everything from copy toner to coffee, now provides loans (up to $1 million). It’s a flexible, convenient service Staples is “pleased to offer” their small business customers. But will those customers be pleased to take advantage of it?