New Report: Main Street Optimism Remains High as Digital Financing and Payment Solutions Expand
The latest Small Business Cash Flow Trend Report from OnDeck and Ocrolus reveals high optimism among small businesses about future growth. Key findings include:
1. A majority of small businesses are optimistic about growth opportunities in the next 12 months.
2. 60.8% of businesses now accept alternative payment methods, up from 54.5% in Q1.
3. Nearly 75% of small businesses bypassed traditional bank loans for alternative lenders.
4. 50% of accommodation and food services businesses plan to increase headcount in the next six months.
5. Retail businesses are most consistent in accepting alternative payments.
The report is based on responses from 413 small businesses and data from over 2.3 million small business applications, providing insights into small business health across all regions.
L'ultimo rapporto sulle tendenze di flusso di cassa delle piccole imprese di OnDeck e Ocrolus rivela un alto ottimismo tra le piccole imprese riguardo alla crescita futura. I risultati principali includono:
1. La maggior parte delle piccole imprese è ottimista riguardo alle opportunità di crescita nei prossimi 12 mesi.
2. 60,8% delle imprese accettano ora metodi di pagamento alternativi, rispetto al 54,5% nel primo trimestre.
3. Quasi il 75% delle piccole imprese ha evitato prestiti bancari tradizionali in favore di prestatori alternativi.
4. Il 50% delle imprese del settore alberghiero e della ristorazione prevede di aumentare il personale nei prossimi sei mesi.
5. Le imprese del settore retail sono le più costanti nell'accettare pagamenti alternativi.
Il rapporto si basa sulle risposte di 413 piccole imprese e sui dati di oltre 2,3 milioni di domande di piccole imprese, fornendo approfondimenti sulla salute delle piccole imprese in tutte le regioni.
El último Informe de Tendencias de Flujo de Efectivo para Pequeñas Empresas de OnDeck y Ocrolus revela un alto optimismo entre las pequeñas empresas sobre el crecimiento futuro. Los hallazgos principales incluyen:
1. La mayoría de las pequeñas empresas son optimistas sobre las oportunidades de crecimiento en los próximos 12 meses.
2. El 60.8% de las empresas ahora acepta métodos de pago alternativos, un aumento del 54.5% en el primer trimestre.
3. Casi el 75% de las pequeñas empresas evitó préstamos bancarios tradicionales en favor de prestamistas alternativos.
4. El 50% de las empresas de alojamiento y servicios de alimentos planea aumentar su personal en los próximos seis meses.
5. Las empresas de comercio minorista son las más consistentes en aceptar pagos alternativos.
El informe se basa en las respuestas de 413 pequeñas empresas y datos de más de 2.3 millones de solicitudes de pequeñas empresas, proporcionando información sobre la salud de las pequeñas empresas en todas las regiones.
OnDeck와 Ocrolus의 최신 소규모 기업 현금 흐름 트렌드 보고서는 향후 성장에 대한 소규모 기업의 높은 낙관론을 보여줍니다. 주요 발견 사항은 다음과 같습니다:
1. 대부분의 소규모 기업들은 향후 12개월 동안 성장 기회에 대해 낙관적입니다.
2. 현재 60.8%의 기업이 대체 결제 수단을 수용하고 있으며, 이는 1분기 54.5%에서 증가한 수치입니다.
3. 거의 75%의 소규모 기업이 전통적인 은행 대출을 피하고 대체 대출자를 이용했습니다.
4. 숙박 및 음식 서비스 업종의 50%가 향후 6개월 내에 인력을 늘릴 계획입니다.
5. 소매업체들은 대체 결제 수단을 가장 일관성 있게 수용하고 있습니다.
이 보고서는 413개의 소규모 기업의 응답과 230만 건 이상의 소규모 기업 신청 데이터에 기반하여, 모든 지역에서 소규모 기업의 건강에 대한 통찰력을 제공합니다.
Le dernier rapport sur les tendances de flux de trésorerie des petites entreprises de OnDeck et Ocrolus révèle un grand optimisme parmi les petites entreprises quant à la croissance future. Les principales conclusions incluent :
1. La majorité des petites entreprises sont optimistes quant aux opportunités de croissance dans les 12 prochains mois.
2. 60,8% des entreprises acceptent désormais des méthodes de paiement alternatives, contre 54,5% au premier trimestre.
3. Près de 75% des petites entreprises ont contourné les prêts bancaires traditionnels en faveur de prêteurs alternatifs.
4. 50% des entreprises d'hébergement et de restauration prévoient d'augmenter leur effectif dans les six prochains mois.
5. Les entreprises de vente au détail sont les plus cohérentes dans l'acceptation des paiements alternatifs.
Le rapport est basé sur les réponses de 413 petites entreprises et sur des données provenant de plus de 2,3 millions de demandes de petites entreprises, fournissant des perspectives sur la santé des petites entreprises dans toutes les régions.
Der neueste Bericht über die Cashflow-Trends kleiner Unternehmen von OnDeck und Ocrolus zeigt eine hohe Optimismus unter kleinen Unternehmen hinsichtlich zukünftigen Wachstums. Wichtige Ergebnisse umfassen:
1. Die Mehrheit der kleinen Unternehmen ist optimistisch über Wachstumschancen in den nächsten 12 Monaten.
2. 60,8% der Unternehmen akzeptieren jetzt alternative Zahlungsmethoden, ein Anstieg von 54,5% im ersten Quartal.
3. Fast 75% der kleinen Unternehmen haben traditionelle Bankdarlehen umgangen und stattdessen alternative Kreditgeber gewählt.
4. 50% der Unternehmen im Gastgewerbe und in der Lebensmittelbranche planen, in den nächsten sechs Monaten ihr Personal aufzustocken.
5. Einzelhandelsunternehmen sind am konsequentesten in der Annahme alternativer Zahlungen.
Der Bericht basiert auf den Antworten von 413 kleinen Unternehmen und Daten von über 2,3 Millionen Anträgen kleiner Unternehmen und bietet Einblicke in die Gesundheit kleiner Unternehmen in allen Regionen.
- Majority of small businesses optimistic about growth opportunities
- 60.8% of businesses now accept alternative payment methods, up from 54.5% in Q1
- Nearly 75% of small businesses sought alternative lenders as primary funding option
- 50% of accommodation and food services businesses plan to increase headcount
- None.
Insights
The report highlights positive trends for small businesses, which could have broader implications for the economy and financial services sector. The high level of optimism among small businesses, with a large majority expecting growth opportunities, suggests a potentially robust economic environment. This could lead to increased demand for financial services and products tailored to small businesses.
The shift towards alternative and digital payment methods, with
Perhaps most notably, the report reveals that nearly
The report provides valuable insights into small business trends that could impact various sectors. The planned headcount increase in the accommodation and food services industry (50% of businesses) suggests potential growth in this sector, which could have positive ripple effects on related industries such as food suppliers, equipment manufacturers and commercial real estate.
The retail sector's lead in alternative payment adoption (84% acceptance rate) indicates a shift in consumer behavior and expectations. This trend could drive innovation in payment technologies and create opportunities for companies developing or integrating these solutions.
The increasing reliance on alternative lenders and digital financing solutions points to a significant market shift. This could potentially disrupt traditional banking models and create opportunities for fintech companies and alternative lenders like OnDeck. However, it's important to note that this shift might also attract more competition in the alternative lending space, potentially impacting profit margins in the long term.
Key findings include:
- Optimism and Growth. A large majority of small businesses remain optimistic about business growth opportunities over the next 12 months.
- Payments: The use of alternative and digital payment methods continues to grow, as
60.8% of businesses reported accepting alternative payment methods, up from54.5% in Q1. This movement indicates an increasing level of interest from customers for more flexible and convenient payment options. - Alternative Financing: Small businesses are becoming less reliant on traditional banks for capital – nearly
75% of small businesses reported bypassing a traditional bank loan and instead sought out alternative lenders as their primary funding option.
"Small businesses remain confident in their near-term and future growth prospects as inflation cools," said Cory Kampfer, Co-President of Small Business Lending at OnDeck. "It's also very clear from our survey data that small businesses are increasingly turning to digital solutions to secure lending and facilitate payments, suggesting small business owners are becoming less reliant on traditional financial services."
"As more small businesses seek out alternative financing, real-time cash flow data is integral to enable lenders to expand their deployment of capital to a broader set of small business borrowers across industries," said David Snitkof, SVP of Growth at Ocrolus.
Key demographic findings include:
50% of accommodation and food services small businesses shared that they plan to hire/increase their headcount over the next six months, representing a higher percentage than any other industry represented in the survey.- Retail-based small businesses appeared to be the most consistent in accepting alternative payments, as only
16% of retail small business respondents shared that they didn't accept alternative payments, the lowest among all industry groups.
The Q2 2024 report is based on quarterly survey responses from 413 small businesses with working capital loans from OnDeck and cash flow data from over 2.3 million small business applications, and provides deeper insights into the health of small businesses across all regions.
About OnDeck®
OnDeck®, part of Enova International, is the proven leader in transparent and responsible online lending to small businesses. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online. Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners. OnDeck has provided loans to customers in 900 different industries nationwide. For more information, visit www.ondeck.com.
About Enova
Enova International (NYSE: ENVA) is a leading financial services company with powerful online lending that serves small businesses and consumers who are underserved by traditional banks. Through its world-class analytics and machine learning algorithms, Enova has provided more than 10.5 million customers with over
About Ocrolus
Ocrolus is a document AI platform that enables faster and more accurate financial decision-making. The company analyzes documents with over
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SOURCE Enova International, Inc.
FAQ
What percentage of small businesses are using alternative payment methods according to the OnDeck report?
How many small businesses are choosing alternative lenders over traditional banks for funding?
Which industry sector plans to increase headcount the most in the next six months?
How many small businesses were surveyed for the OnDeck and Ocrolus Q2 2024 report?
