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Half of Small Business Credit Card Customers Struggle with Financial Health as Majority of Those Businesses Carry Revolving Debt, J.D. Power Finds [Yahoo! Finance]
Last american express company earnings: 4/24 07:00 am
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US:NYSE Investor Relations: ir.americanexpress.com
TROY, Mich., December 03, 2024 BUSINESS WIRE )--While 83% of U.S. small businesses expect more good than bad things to happen for their companies, more than half (51%) are currently categorized as financially unhealthy. Among those who are financially unhealthy, 61% are carrying revolving debt on their business credit cards and 63% are borrowing with those cards to fund operating expenses, according to the J.D. Power 2024 U.S. Small Business Credit Card Satisfaction Study, SM released today. The findings put a spotlight on the tenuous nature of the small business economy and the critical role that business credit cards are playing in keeping merchants afloat. "The small business economy is highly bifurcated right now, with 46% indicating they are better off financially than they were a year ago and 49% categorized as financially healthy," said John Cabell, managing director of payments intelligence at J.D. Power . "But the other half of small businesses are clearly struggling. Amon
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