# 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](https://app.globalclient.visa.com/e/er?s=1667884968&lid=29391&elqTrackId=8d2c376398424af880eca24b6f82784c&elq=00000000000000000000000000000000&elqaid=5022&elqat=2&elqak=8AF5B118B33B64EEB0C1FF79336EA42CD923EDF85355B5424E5F15720C826CF99A09)? Jan 17, 2025.

3World Economic Forum. [The big opportunity behind small businesses](https://app.globalclient.visa.com/e/er?s=1667884968&lid=29390&elqTrackId=d332f89f25a44d5ea8bcd7b1374def36&elq=00000000000000000000000000000000&elqaid=5022&elqat=2&elqak=8AF59B25090A9DBA47EDDF88D4E4AFBB2847EDF85355B5424E5F15720C826CF99A09). Dec 8 2022