Despite their critical role in job creation, small businesses face significant economic challenges, including job and revenue declines amid rising interest rates and inflation. With traditional financing options shrinking, many small entrepreneurs are turning to credit cards for immediate financial needs. In fact, a substantial portion of small business expenses are covered by credit cards, which raises concerns about the sustainability of such reliance, especially as the repayment of debts lags behind their usage. This trend highlights the urgent need for alternative financial solutions.
As small businesses are crucial to the economy, many face rising financing challenges due to inflation and interest rates, leading to increased reliance on credit cards.
Despite small businesses' significant contributions to job creation, recent data highlights a troubling decline in employment and revenues, emphasizing economic difficulties.
Credit cards have become the primary financing tool for 1 in 10 small businesses, highlighting a reliance that may outpace their repayment capabilities.
Small businesses create 12% of new jobs, but many are feeling the financial strain, leading to a surge in credit card usage for financing.
Collection
[
|
...
]