ACCELERATING GROWTH

Next Gen SMB owners help power the new economy—be the partner they need now and, in the future

Help Gen Z and young Millennials level up their businesses now and tomorrow with the digital payments solutions they need.
05/05/2025   |    minute read
Helping to power the digital economy is no small feat, yet that’s the task at hand for the Next Gen SMB audience, composed of Gen Z and young Millennial business owners, ages 18–36. By utilizing a financial partner that helps them tap into the potential of their business, they can extend their reach globally to international customers looking for the goods and services they provide.

Small businesses today become the enterprises of tomorrow

With SMBs accounting for 90% of businesses globally and 70% of global employment,¹ they represent a large opportunity for financial institutions (FIs). These financial partners can harness the power of up-and-coming businesses by delivering access to fast, secure and seamless financial solutions tailored to their segment, industry and product needs. The first step to winning them over is to gain insight into their pain points.

Latest study of Next Gen SMB owners shows that

57 %

will pick a high-quality tool even if it doesn’t integrate with other digital solutions, they’re using

54 %

want customized financial tools over standard banking products

Insights show SMBs need tools that work together

Visa’s latest study on the Next Gen of SMB owners shows that 57% of Next Gen SMBs will pick a high-quality tool even if it doesn’t integrate with other digital solutions they’re using.¹ Many have cobbled together different products and services to meet their needs, but their tendency to prioritize disparate high-quality tools over integration can lead to siloed business insights and hinder their ability for future growth.

Next Gen SMB owners also struggle with analytics, with 26% of Gen Z small business owners ages 18 to 26 unable to access insights and analytics because their tools aren’t integrated.² To address this challenge and future-proof their businesses, they need a financial partner that can deliver more streamlined financial tools.

Pairing traditional solutions with innovative delivery

Even well-established FIs may have solutions Next Gen SMB owners need but lack a partner that can help deliver them. Visa can help bridge this gap. With 54% of Gen Z and young Millennial business owners wanting customized financial tools over standard banking products,² flexible tools can facilitate success for FIs and the SMBs they serve.

Help future-proof their business, and yours

Next Gen SMB owners push for innovation, using new and evolving tools. But when it comes to banking and finance, they seek stability, reliability and personal connections. They want features that match the flexible and dynamic way they work, but on top of a solid foundation. Financial partners can help them grow and fortify them with lasting financial strength by using innovative business models, products and services. By meeting the short-term needs of these SMBs, FIs position themselves to seize a long-term opportunity.

Read more in the Next Gen SMB Owners White Paper

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Learn more about Next Gen SMBs
  1. Material+ "Next Gen Small Business Owners" Survey, July - August 2024. Commissioned by Visa. Online survey of 1,418 SMB Owner and/or Financial Decision Maker (DMs) across 6 countries globally.
  2. World Economic Forum, The Big Opportunity Behind Small Businesses