Small Business

Small and medium enterprises are big business

May 25, 2023

Small- and medium-sized enterprises (SMEs) are big business, making up 90% of businesses worldwide and employing more than half of the labor force. As they grow and change — going digital, embracing e-commerce — SMEs are seeking a single source for all the financial tools they need to build their businesses.

Despite the wide range of payment solutions available today, SME payments are still dominated by cumbersome bank transfers and risky cash. And many SMEs that do use credit or debit cards primarily rely on personal products, not business cards. Yet today’s innovative business accounts offer benefits and services designed to help them build their business, such as dynamic and higher lines of credit, tailored offers and rewards and financial management tools.

We surveyed 10 thousand business owners in 24 countries to find out.

SMEs are interested in a wide range of financial business products, but they don’t want the hassle of having to integrate multiple, discrete solutions from potentially different providers. Instead, they’re looking for holistic “business-in-a-box” solutions to help them better manage their business:

SMEs are big business_graph showing which card features appeal

To learn how to best meet the needs of today's SMEs, read our full report: Small and medium enterprises are big business, how offering a full suite of business solutions is a win-win for everyone.