Abstract
Small businesses are a dynamic and growing part of the US economy, representing a cross between consumers and more complex business organizations. In increasing numbers, small business owners are replacing traditional bank loans and equity lines of credit with credit and debit cards. This report examines key questions facing the credit and debit card industry as it relates to the small business market:
- Many small businesses pay bills with checks or even cash. What will inspire them to use cards for a larger share of business expenditures?
- Card issuers are in tight competition for small businesses customers. What are the latest innovations in product features and marketing approaches, and how are these making certain companies stand out?
- Despite growing use among consumers, people are reluctant to use debit cards for small business expenses. What are the reasons for this resistance and what might increase adoption?
- Effective marketing to small business owners is customized for different segments. What are the most important segments, and what characteristics influence their needs for credit and debit cards?
- How will decoupled debt impact the small business credit and debit card market?
For purposes of this report, we define small businesses as companies with fewer than 100 employees, including self-employed persons with no employees.
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