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

Read the white paper

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