SMBs understand the importance of technology in today's market
February 06, 2014
Things are looking up for the owners of small and medium-sized enterprises, especially those who are willing to introduce advanced credit card processing technology into their existing operations.
According to an official statement from the small-business sector resource provider Newtek Business Services, the organization's latest index of SMB activity reached 124.46 points during December, which is more than 7 percent higher than it was during the same month in 2012. The index also rose slightly from November, indicating that managers and company owners are gradually feeling more optimistic and confident amid current economic conditions.
"With the overall stock market up 30 percent in 2013, it is hard to imagine the small-business economy not performing better considering the current low interest-rate environment," Barry Sloane, chairman, president and CEO of The Small Business Authority, stated. "Our index is telling us there is more capital available for small business, business owners feel wealthier and the consumer continues to spend albeit modestly."
These findings should come as positive news for enterprise owners. A recent report from the global professional services firm PricewaterhouseCoopers found that 86 percent of U.S. CEOs are well aware that developments in business technology will have a major impact on the success of their firms moving forward. These organizations may want to take advantage of recent improvements in the economy to improve the efficiency of their financial operations with resources that make it easier to accept credit card payments from a variety of channels. The small-business market has taken on new directions in recent years. Brick-and-mortar establishments are simply one method through which brands can interact and process transactions from their customers. Technology has since made it possible for SMBs to operate successful e-commerce portals as well. Mobile credit card payments technology even allows managers to accept electronic purchases from remote locations outside of the store. These are exactly the kind of technological advancements that provide real growth opportunities for businesses.