Home Resources Library Strategy Winning With Small Businesses
Winning With Small Businesses

Winning With Small Businesses

Partnering to provide actionable insights to attract and retain customers

In our previous paper on “Strategic Growth Through High Value Small Business Targeting,” we made the case for institutional focus on small businesses, and segment focus on winning disproportionate share of the most valuable small business clients. In this paper, we will address a key capability necessary to successfully compete in the marketplace – product.

Category: Tag:

The small business growth imperative

Banks and credit unions are constantly being asked to support small businesses as an engine of growth for the u.S. economy. The cry from politicians and trade organizations for several years has been: “lend more.”

Politicians have correctly identified small businesses as a critical sector of the u.S. economy, and one that has been a decreasing area of focus for u.S. banks and credit unions, by some metrics. meanwhile, bank leaders are constantly touting their focus on small businesses both as a means of community development and a path to shareholder returns. So what is really happening?

First, small businesses are undeniably critical drivers of the u.S. economy, across sectors and through the cycle. as defined by the u.S. Small Business authority, small businesses account for over 99 percent of all employer firms in the u.S., nearly half of private sector jobs, and two-thirds of newly created jobs. and while we associate small businesses with “main street,” they also account for over one third of total high tech employment, and 98 percent of exporters.

Additional information

Language

English

Pages

20

We use cookies to improve the user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close