The Small Business Payments Alliance (SBPA) issued a report today containing new data that affirms the value of credit cards for small businesses. According to consumer surveys and new research conducted over the first quarter of 2024, credit cards remain a top funding source for small and medium-sized businesses.
Small businesses are the backbone of Rhode Island’s economy. Rhode Island’s more than 105,000 small businesses employ approximately 228,000 Rhode Island residents – more than 51 percent of the state’s private sector workforce. Small businesses in Rhode Island rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.
Small businesses are the backbone of Utah’s economy. Utah’s more than 333,000 small businesses employ over 635,000 Utah residents – 45 percent of the state’s private sector workforce. Small businesses in Utah rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.
Small businesses are the backbone of Texas’ economy. Texas’ 3.2 million small businesses employ 5 million Texas residents – more than 44 percent of the state’s private sector workforce. Small businesses in Texas rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.
Small businesses are the backbone of Vermont’s economy. Vermont’s nearly 77,000 small businesses employ approximately 156,000 Vermont residents – more than 60 percent of the state’s private sector workforce. Small businesses in Vermont rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.
Small businesses are the backbone of Tennessee’s economy. Tennessee’s nearly 665,000 small businesses employ 1.2 million Tennessee residents – about 42 percent of the state’s private sector workforce. Small businesses in Tennessee rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.
Small businesses are the backbone of South Carolina’s economy. South Carolina’s nearly 480,000 small businesses employ approximately 840,000 South Carolina residents – more than 42 percent of the state’s private sector workforce. Small businesses in South Carolina rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.
Small businesses are the backbone of North Carolina’s economy. North Carolina’s 1 million small businesses employ 1.8 million North Carolina residents – nearly 45 percent of the state’s private sector workforce. Small businesses in North Carolina rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.
Small businesses are the backbone of Nevada’s economy. Nevada’s more than 312,000 small businesses employ approximately 542,000 Nevada residents – nearly 43 percent of the state’s private sector workforce. Small businesses in Nevada rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.
Small businesses are the backbone of New Jersey’s economy. New Jersey’s more than 952,000 small businesses employ 1.9 million New Jersey residents – nearly 49 percent of the state’s private sector workforce. Small businesses in New Jersey rely on credit cards and rewards to lower operating costs, re-invest in their businesses and employees, manage cash flow, and give customers more choice, security, and convenience in how they pay.
