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.

• Research findings suggest that 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

Read the white paper

1Material+ "Next Gen Small Business Owners" Survey, July - August 2024. Commissioned by Visa. Online survey of 1,418 SMB Owner and/or Financial Decision Maker (DMs) across 6 countries globally.

2World Economic Forum. Tomorrow’s workforce changed yesterday – now what for businesses that want to be future-ready? Jan 17, 2025.

3World Economic Forum. The big opportunity behind small businesses. Dec 8 2022