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Visa Commercial Solutions

Read the latest insights on the next generation of SMB owners.

Be the banking partner Next Gen SMB owners need

The next generation of SMB owners is here, steered by young Millennials and Gen Z which is predicted to make up 30% of the global workforce by 2030². With SMBs representing 70% of the global GDP,³ financial institutions (FIs) have a tremendous opportunity to tap into this growing segment.

Younger SMB owners are more open to trying new things¹
They have low confidence in business insights and analytics, which can impede their ability to make data-driven decisions¹
They value in-person experiences over digital-only experiences, and traditional banks over fintechs¹
Social media is their primary source of banking information, surpassing web searches and any other medium¹

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¹Next Gen Small Business Owners: Understanding the Banking Preferences of Gen Z and Young Millennial SMB Owners, Visa. Q4 FY24
² World Economic Forum. Tomorrow’s workforce changed yesterday – now what for businesses that want to be future-ready? Jan 17, 2025.
³ World Economic Forum. The big opportunity behind small businesses. Dec 8 2022