A guide to 2023 small business trends in financing
How has this year impacted small businesses? How are they overcoming challenges?
Discover how small
businesses are reacting
to financing trends
This year has been a economic rollercoaster—and for anyone who’s followed small business news, it’s clear that the economy has had a large impact in this area. While we’ve seen signs of recovery in the past couple months, we wanted to understand the latest small business trends. How has the economy impacted access to capital for entrepreneurs? What were the trends in lending? How are people adapting to today’s circumstances?
In August 2023, we asked over 100 small business owners in the U.S. these questions. Read some highlights below and download the full report to learn the small business trends in 2023 and how you can prepare for 2024. You’ll also find expert insights from Experian, CapFront Funding and more.
Business owners trust the local economy
42% are optimistic about their local economy, while only 33% are about the U.S. economy.
73% owners saw increased operational costs
In response, they've raised prices, gotten additional financing, and added services.
Access to capital decreased in 2023
Those who saw an increase in access most often sought financing from online lenders.
82% are confident in their growth potential
Despite uncertainty, business owners are planning to invest in their business in 2024.
Discover more trends in small business
Learn where business owners are investing for growth and how they’re overcoming barriers.
Discover more trends in small business
Learn where business owners are investing for growth and how they’re overcoming barriers.