The Small Business Index report reveals that small business payments to their vendors, suppliers and other business partners stabilized at the very end of the year. Experts at Cortera predict that SMB payment behavior will remain less volatile in the coming months.
“The big questions now are whether the system has sufficiently cleansed itself of the drag caused by the most delinquent players, how much risk remains, and whether current levels represent a kind of new normal,” said Jim Swift, president and CEO of Cortera.
The report serves to benefit small businesses nationwide as payment behavior is the primary factor in establishing favorable credit ratings; good credit scores are essential for securing loans.
According to a survey from CareerBuilder, SMBs are increasingly confident in their ability to secure loans this decade. Just 11 percent of entrepreneurs think gaining access to credit will be a top challenge for 2010.
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Tags: Business Payment, Payment, Small Business, Small Business Payment
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