The Wellness of Small Businesses – Q1 2019
Small businesses are the backbones of local communities, and when they thrive, they share positive social and economic outcomes with community members.
As a committed service provider to small businesses, KeyBank is invested in understanding owners’ concerns, needs, and successes, to help them achieve their business goals – and better support the communities they serve.
The KeyBank Digital Small Business Wellness Review, launched in 2018, is an award-winning, AI-enabled tool (patent pending) that provides clients with customized attention and allows a deeper understanding of the needs of small business owners across the nation – from the top challenges they are facing, to sales and payment trends, to their entrepreneurial motivation. Based on the data collected from the tool, KeyBank created the Small Business Wellness Review Index to assess the state of financial wellness among small business owners in the U.S.
Through holding Small Business Wellness Review conversations with business owners, we found that cash flow is the top challenge for small businesses, but business owners remain passionate and resilient. In fact, KeyBank believes in the value small businesses bring to communities and has committed $2.5 billion in small business/farm lending through 2022.
Click on Download PDF Version below for more small business wellness facts.
To learn more about how KeyBank supports small businesses, please visit key.com/smallbusinesswellness.