Tuesday, May 3, 2022
Timed to coincide with Small Business Week, products and services include educational outreach, enhanced credit card rewards, contactless-enabled POS devices, and free trial with reservations app Tock to help Chase business client restaurateurs, according to Chase representatives. A description of all promotional items is available at www.chase.com/business/banking/small-business-week.
Brad Brodigan, global head of small business at Chase Payment Solutions, pointed out that SMB owners need reliable support from trusted service providers. "Small business owners are especially busy managing their business through these challenges times," he said. "They need a financial partner that reduces the complexity of how they accept payments while providing them access to their money as quickly as possible."
Chases' Small Business Pulse Survey, published May 3, 2022, highlights approaches to four small business pillars: workforce, financial, purpose and vision, and operations—areas that researchers noted are top of mind in the post-pandemic American economy.
Ben Walter, CEO of Chase Business Banking, described U.S.-based SMB owners as the heart of every community. "They create jobs and support their neighborhoods in good times and bad," he said. "We are inspired by their resilience, ingenuity and service to others, and are here to offer the support, solutions and service they need to thrive."
Chase researchers found 66 percent of small business owners expect to invest in training and development for their workforce and increase employee pay, while 65 percent will add staff, and 64 percent will expand employee benefits in the coming year. In addition, 71 percent of respondents indicated they are interested in entrepreneurial training programs, researchers found.
On the operational front, 60 percent of SMBs feel they have the right technology in place, and 73 percent plan to invest in new technology in the near term, researchers noted. In the wake of the pandemic, 48 percent of business owners implemented contingency plans to help manage unexpected events, according to the study.
When asked about financial services requirements, Chase researchers found 83 percent of the survey's 1,000 respondents cited convenience as most important, followed by accessible live support (81 percent) and easy-to-use online banking (82 percent).
Following are additional products and services cited in the report:
Throughout the month of May, Chase will host a series of seminars in select U.S. communities. For more information about the Chase Business Insight Seminar series, visit: bit.ly/3ycMhxK .
"Businesses of all sizes and stages have had to pivot, recenter and refocus (often multiple times) throughout this pandemic, and as we move toward our new normal, there are many lessons to be learned and shared," Chase representatives stated. "We're excited to be back live and in-person this year and hope you'll join us for networking, a meal and an educational presentation by our keynote speaker."
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