90% of small businesses are confident in growth outlook and turning to flexible payments to compete

Small Business Growth Confidence

90%

Percentage of small business owners optimistic about their growth outlook for the next 12 months

BNPL Customer Attraction

70%

Percentage of small businesses that believe Buy Now, Pay Later helps attract new customers

Support for Flexible Payments

76%

Percentage of small business owners supporting the expansion of access to flexible payment tools like BNPL

⦿ Executive Snapshot

What: Affirm's Small Business Sentiment Survey reveals that 90% of small businesses are optimistic about growth and are increasingly adopting Buy Now, Pay Later (BNPL) options.
Who: Affirm, small business owners across the U.S.
Why it matters: The survey highlights the crucial role of flexible payment options in helping small businesses compete with larger firms, thereby impacting the overall economic landscape.

90% of small business owners expressed confidence in their business outlook for the next 12 months.
70% of small businesses believe that BNPL helps attract new customers and 66% say it aids in competing with larger businesses.
76% of small business owners support expanding access to flexible payment tools like BNPL.

Historically, small businesses have faced significant challenges in competing with larger corporations, often lacking access to advanced financial tools.
The rise of BNPL as a payment option reflects a broader trend towards flexible consumer financing, enabling small businesses to enhance customer trust and retention.

Immediate competitive advantages for small businesses adopting BNPL could shift market dynamics and consumer behaviors in favor of smaller retailers.
Long-term, the adoption of flexible payment options may lead to increased consumer loyalty and higher sales volumes for small businesses.

Potential regulatory scrutiny around BNPL practices could impose limitations on how these services are offered.
Competition from larger financial institutions may threaten the market share of BNPL providers like Affirm.

Future policymaker actions regarding BNPL access could significantly influence small business operations and competitiveness.
Monitoring consumer adoption rates of BNPL in small businesses will provide insights into its effectiveness as a growth tool.