![]() According to the 2017 Small Business Credit Survey, small businesses report financial challenges at a higher rate than larger firms. Small businesses have historically had trouble accessing the capital they need to purchase inventory, buy equipment, or cover short term expenses. Square, which has grown more than 500% since its 2015 IPO, has found success by leaning into this alignment and developing services that continue to help small businesses grow their business. This revenue model aligns Square’s success with the success of its small business customers. ![]() Square earns the majority of its revenue through a share of the credit card transactions that it processes. Through it’s new group, Square Capital, Square has recently started using machine learning to analyze transaction data to extend lines of credit to small businesses – and the revenue from these loans has outpaced the overall growth of the company. As Square has expanded its services to cover more and more small business functions, the data it collects about these businesses paints a clear picture of their cash flow. Square has since developed a catalog of point-of-sale devices and services that help small businesses accept credit cards, manage inventory, and process employee payroll. ![]() Square first came to market in 2009 with the Square Reader, a small device that enabled anyone to use a smartphone to accept credit card payments. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |