Small-Business Banking: Going Beyond the Lines of Credit

September 20, 2018

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MONTHLY ANALYSIS

Business banking is more than financing

There are 30.2 million small businesses operating in the US, constituting 99.9% of businesses in the country. A total of 58.9 million small-business employees represent almost half (47.5%) of the US private workforce. According to the latest data from the International Trade Administration (ITA), a total of 294,834 companies exported goods from the US in 2015. Out of these, 97.6% were small firms; they generated 32.9% of the United States’ $1.3 trillion in total exports.

Small businesses are the backbone of modern economies, in which the

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