Digital Financing: Filling a Gap For Entrepreneurs Across The Country
The past few years have been incredibly difficult for small businesses. From the economic fallout of the global pandemic to rising in action causing new economic headwinds, entrepreneurs of all sizes, types, and backgrounds have been struggling to manage through the volatility. And while in ation may have peaked in 2022,1 in ationary pressures will likely persist for the near future.
Small businesses are often the most vulnerable in times of economic downturn. The National Federation of Independent Business (“NFIB”) Small Business Optimism Index (the “Index”) declined for the twelfth consecutive month in December 2022.3 Additionally, in Q1 of 2023, the US Chamber of Commerce Small Business Index cited in action as the top concern for small businesses.4 Another survey from Digital.com reported that 65% of small business owners said it is very likely or likely that they’ll be forced to permanently close if inaction continues at its current rate.
