News That Matters

Tag: Small Business Success Means Prioritizing Innovation And Change

2023 Small Business Success Means Prioritizing Innovation And Change
Business

2023 Small Business Success Means Prioritizing Innovation And Change

Navigating the financial landscape has become a full-time job. For leaders of small and medium sized businesses hoping to get a grasp on the economic outlook for this new year, there seems to be one overriding point of agreement among the experts: 2023 is a year of uncertainty. And according to the latest National Federation of Independent Businesses (NFIB), the small business optimism index declined 2.1 points—which is why now more than ever both businesses and the financial institutions serving those businesses need to adapt. In 2022, interest rates increased seven times, and inflation had its highest increase in 40 years—and as the outlook for 2023 remains challenging—the environment today requires constant navigation—both from banks and businesses. Successful entrepreneurs and mana...