Happy Holidays! We hope this post finds you in good cheer and enjoying festivities where you are, whether it be with your friends and colleagues or with family.
As 2024 draws to a close, businesses across the U.S. are navigating a changing economic landscape, with new opportunities and risks emerging across industries. The latest Experian Commercial Pulse Report, released December 17, 2024, highlights critical trends in inflation, employment, business optimism, and a special focus on some interesting trends in commercial credit — industry-specific credit risk.
Watch our Commercial Pulse Update
The Rise of New Businesses and Shifts in Commercial Credit
- 🏢 One of the most striking trends in the latest Commercial Pulse Report is the rapid growth of new businesses, particularly in the Southern and Western U.S. regions. In November alone, 449,000 new businesses opened, a figure that reflects a 50% increase compared to pre-pandemic levels, and how these newer businesses access and manage commercial credit.
Also:
- Focus on Growth Regions – With new businesses booming in the South and West, lenders can identify opportunities to support small business formation and expansion in these high-growth regions.
- Tailored Financial Products – Recognizing the preferences of new businesses for commercial cards and established firms for term loans can help lenders offer products that meet the unique needs of different business stages.
- Risk Management by Sector – Industry-specific risk insights enable businesses and lenders to make informed decisions. For example, supporting Healthcare or Real Estate firms may offer more stability, while Construction and Food Services may require more robust risk management.
There’s a lot more in this week’s report, so download your copy today!
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