As small businesses prepare for growth – tariffs take center stage Experian is very pleased to announce the release of the Q3 2024 Main Street Report. Join us for a deep dive on Q3 performance Experian will share key findings from our Q3 Main Street Report in the Quarterly Business Credit Review: Tuesday, December 10th, 10:00 a.m. Pacific | 1:00 p.m. Eastern Register to attend Gain insight on small business health The Q3 2024 Experian Main Street Report offers a deep dive into the economic trends and policy shifts shaping small business performance and their credit outlook. With credit risk managers at the forefront of navigating evolving financial landscapes, the report highlights critical developments in economic stability, global trade, and credit performance. These insights are essential for refining risk assessment strategies and positioning portfolios for a resilient 2025. Download the latest report for more insight. Download Q3 Main Street Report
Happy Thanksgiving and welcome to our November 26th, 2024 Commercial Pulse Report preview! As the economy continues to evolve, the latest Commercial Pulse Report from Experian highlights some interesting trends in the housing market and for the many small businesses in the construction industry. These sectors are navigating complex challenges, showcasing resilience in the face of rising costs and changing market dynamics. Check out this week's report for our deep dive on construction. Watch our short video below for a summary of what the latest report includes. Watch Our Commercial Pulse Update Construction Industry Highlights: 🔧 Adaptation in Financing: Construction businesses are shifting from term loans to commercial credit cards to manage costs. 🏗️ Controlled Delinquencies: While rising, construction delinquencies remain much lower than other industries, showing sector strength. 📊 High Demand Drives Growth: Despite challenges, the sector thrives due to strong housing demand. Housing Market Highlights: 🏠 Affordability Challenges: Housing costs are rising faster than incomes, forcing many households to allocate more of their earnings to housing. 📈 Rent Inflation Soars: Since 2020, monthly rents have increased by 127%, adding strain to renters nationwide. 💸 Mortgage Payments Surge: High property prices and 6.4% mortgage rates have driven average payments to record highs. 🌟 Resilient Demand: Despite challenges, home sales rose 5% year-over-year, signaling robust buyer interest. 🚀 Relief Ahead? Potential interest rate cuts and increased homebuilding activity could balance the market. Download Commercial Pulse Report Visit Commercial Insights Hub Related Posts
Experian provided the latest insights on small business credit conditions and presented key findings from the Main Street Report for Q3 2024 during the Quarterly Business Credit Review. Our lead presenter, Brodie Oldham, shared his perspective on the macroeconomic environment and delved into the Q3 Main Street Report along with the most recent small business credit data to uncover what it revealed about small businesses' performance. The session wrapped up with a live Q&A, during which we answered audience questions. Highlights from the Webinar: Insights from leading experts on commercial and macro-economic trends Credit trends and analysis across 30+ million active businesses Discussion of industry hot topics, including business owner and small business data Exclusive commercial insights not available elsewhere Peer perspectives through interactive polling Exploration of small business trends to support better decision-making Actionable takeaways grounded in recent credit performance Get Notified of Future Webinars
Commercial Pulse Report | 11/12/2024 Welcome to our November 12th, 2024 Commercial Pulse Report preview! Experian’s new Commercial Pulse Report highlights the economic trends shaping the retail landscape as we head into the holiday season. With 2.8% GDP growth in Q3 and steady unemployment at 4.1%, the economy shows resilience, yet retail businesses are navigating a mix of growth and caution in credit and spending trends. Watch Our Commercial Pulse Update This week as the holiday season gets under way, the team pulled together some interesting insights on the retail industry. With 2.8% GDP growth in Q3 and steady unemployment at 4.1%, the economy shows resilience, yet retail businesses are navigating a mix of growth and caution in credit and spending trends. Rising Credit Demand in Retail: Over the past year, commercial credit demand among retail businesses has surged by 25% as retailers boost inventory levels in anticipation of holiday sales. While demand is strong, businesses are finding that lending conditions are tighter than in previous years, especially in discretionary retail sectors. Lending Disparities Across Retail Sectors: Not all retailers benefit equally from this increased credit demand. Discretionary sectors like home goods are facing a drop in new commercial accounts and smaller loan sizes, reflecting a more cautious lending environment. Meanwhile, Consumer Electronics and Department Stores are seeing credit demand nearing pre-pandemic levels, indicating resilience in these areas. Higher Delinquency Rates Impacting Credit Scores: Rising financial pressures are pushing up delinquency rates, putting additional strain on commercial credit scores across the retail sector. This trend is a reminder for retailers to manage credit carefully, even as they position themselves for peak season sales. Slower Retail Sales Growth: Retail sales continue to grow but at a decelerating rate, with only 1.7% year-over-year growth from September 2023 to September 2024—a significant slowdown from previous years. Retailers are adjusting to a post-pandemic normalization as consumer demand steadies. With both opportunities and challenges ahead, this report offers insights to help retailers navigate the season. For more, check out Experian’s Commercial Insights Hub to see how these trends may impact your business. Download Commercial Pulse Report Commercial Insights Hub Related Posts
Commercial Pulse Highlights | 10.29.2024 Welcome to our October 29th, 2024 Commercial Pulse Report preview! 📊 In addition to current macroeconomic indicators, in this week's report we take a closer look at Fintechs and the credit profiles of the businesses that utilize them. Since 2018, the fintech industry has experienced extraordinary growth, fundamentally changing how businesses access and manage financial services. According to our latest Commercial Pulse Report, fintech has grown by over 140% in just a few short years, with the number of fintech companies increasing by 70% between 2019 and 2020 alone. Today, North America dominates the global fintech market, accounting for 34% of its total share. Watch Our Commercial Pulse Update Key Takeaways: Explosive Growth: The fintech industry has grown by over 140% since 2018, with a 70% increase in the number of fintech companies from 2019 to 2020. North American Dominance: North America accounts for over 34% of the global fintech market, making it a key player in the industry’s expansion. Innovative Solutions: Fintech companies have transformed traditional financial services with digital solutions in areas like payments, lending, personal finance, and investment management—led by apps like Venmo, Cash App, and Apple Pay. Increased Credit Activity: Businesses using fintech financing are 270% more credit-active than those relying on traditional financing, with higher inquiries, trades, credit lines, and balances. Higher Risk: Despite increased access to capital, fintech-financed businesses exhibit higher delinquency rates and lower credit scores, presenting added risks for lenders. Looking for more detailed commercial insights? Visit our Commercial Insights Hub for the latest trends and data on small business performance and credit. Stay informed and ready for what’s ahead! Download Commercial Pulse Report Commercial Insights Hub Related Posts
Commercial Pulse Report Highlights | 10.15.2024 Welcome to our October 2024 Commercial Pulse Report breakdown! 📊 In this episode, we dive deep into the latest commercial insights affecting small businesses, covering everything from inflation trends to job growth. Watch Our Commercial Pulse Update Key Takeaways: Inflation has eased to 2.4% in September, signaling a continued decline. The U.S. economy added 254,000 jobs, the largest increase since March. Small business optimism rose to 91.5, though it remains below the historical average. The growing risk of underinsurance for small businesses: 75% of small businesses lack adequate coverage, leaving them vulnerable to disasters. 🌪️ Recent hurricanes have devastated the Southeast, our hearts are with everyone impacted. This issue of the pulse includes a special analysis of rising commercial insurance costs for small businesses. We couldn't predict how timely it would be. Looking for more detailed commercial insights? Visit our Commercial Insights Hub for the latest trends and data on small business performance and credit. Stay informed and ready for what’s ahead! Download Commercial Pulse Report Commercial Insights Hub Related Posts
As we transition into the cooler months, the economic landscape is shifting, bringing with it a set of risks that could directly affect the financial health of small businesses. For commercial finance professionals, staying ahead of these challenges is critical. The Fall 2024 Beyond The Trends Report offers must-have insights for those looking to mitigate risks and safeguard their portfolios. What’s inside the report? Economic Cooling & Small Business Stability: How the current economic slowdown is likely to affect the financial stability of small businesses, and what it means for your clients. Generation Z Credit Reliance: The growing dependence on credit by Gen Z consumers raises concerns about long-term risks for businesses, particularly during the holiday season when spending peaks. Holiday Sales Pressure: Small businesses often generate up to 30% of their annual revenue during the holiday season. Learn how they are managing cash flow, inventory, and navigating uncertainty to stay afloat. Supply Chain Strain: Global delays, rising transportation costs, and ongoing disruptions are squeezing small businesses. Understand the full impact and how it could affect credit health and loan repayments. Actionable Strategies for Financial Services: The report provides data-backed strategies that finance professionals can use to assess and mitigate risk while supporting small business clients through this volatile period. Download the full Fall 2024 Beyond The Trends Report now for the expert analysis and data you need to manage risk and support the small business sector during this critical time. Download Fall Beyond The Trends Report Commercial Insights Hub
Insights from the 10/1/24 Commercial Pulse Report I’m excited to share the current Experian Commercial Pulse Report with you. I have the opportunity each week to analyze data on the millions of U.S. small businesses in Experian’s database and discover actionable insights that benefit our clients. Making these discoveries is rewarding work, and we utilize these insights to guide our recommendations. I thought I would share what I am watching through Experian’s bi-weekly Commercial Pulse Report (just bookmark the link; we will update it on a bi-weekly basis). Watch our Commercial Pulse Update Women entrepreneurs thrive In this week’s report, we take a closer look at the burgeoning population of Women-owned businesses. Did you know women are making a living being self-employed at higher rates than men? In the current economic climate represent a larger proportion of newer businesses. This trend is evident as women own a higher percentage of businesses that are 3-5 years old and under 3 years old. In contrast, more established businesses are predominantly owned by men, indicating a shift over time as more women start their own ventures. One challenge for women-led businesses is accessing traditional lending products, as newer businesses appear riskier. Consequently, women are more likely to rely on credit cards with lower limits than their male counterparts. What I'm watching: Women are self-employed at higher rates than men, making up a larger share of new businesses. The Federal Reserve's recent half-point rate cut suggests they no longer see high rates as necessary to combat inflation. Despite a slight weakening, labor market remains strong, with more employment, lower participation, and more vacancies than pre-pandemic. Download Commercial Pulse Report Commercial Insights Hub Related Posts
Experian’s Sentinel™ Commercial Entity Fraud Suite received a silver medal for "Best Know Your Customer/Business (KYC/KYB) Innovation" in the 2024 Impact Awards in AML (anti-money laundering).The award was given by Datos Insights, a global advisory firm providing mission-critical insights to the Financial Services industry. The Sentinel Suite addresses complex challenges that inhibit financial institutions’ capability to safely capture new business while limiting fraud exposure. Leveraging Experian's more than 250 million consumer files and more than 28 million business records, as well as advanced analytics and machine learning techniques, the suite delivers comprehensive fraud detection, greater operational efficiency, flexible risk assessment and decisioning, and improved customer experiences. "Given the AI-driven acceleration of fraud attacks, coupled with the lightning-fast speed of simply doing business in a highly competitive digital marketplace, lenders need a solution that delivers single, actionable pass-fail insights in real-time to help them make informed decisions quickly and efficiently," said Brian Bond, Senior Vice President of Experian’s Business Information Services (BIS). "Sentinel works with our Precise ID and CrossCore platforms to offer KYC and KYB verification at unrivaled speed, and we deeply appreciate Datos Insights’ recognition of the value that the suite offers to our customers." Datos Insights defined this category as featuring new solutions, innovations, or data sets that streamline and enrich the KYC/KYB processes underlying the onboarding, servicing, ongoing risk profiling, and due diligence of individual and corporate customers. In this context, Sentinel is bridging the gap between business and owner verification to create a seamless onboarding experience that helps lenders and creditors grow without fear. "The financial crime landscape continues to evolve rapidly, with criminals employing increasingly sophisticated techniques to evade detection. Traditional approaches to fraud prevention and AML compliance are often insufficient to keep pace with these evolving threats," said Chuck Subrt, Fraud & AML Practice Director at Datos Insights. "In response to these challenges, the industry is seeking innovative tools and solutions that can streamline processes, reduce false positives, uncover hidden risks, and provide more comprehensive and accurate risk coverage." Datos Insights found "Experian's commitment to ongoing innovation suggests that Sentinel will continue to evolve and address emerging industry needs. The results reported by clients using Sentinel Suite are impressive, with considerable improvements in fraud detection rates, accuracy, and operational efficiency. These realized benefits, combined with its promise to elevate regulatory compliance and customer experience, make it an effective tool for FIs looking to enhance their risk management capabilities." About Datos Insights Datos Insights delivers the most comprehensive and industry-specific data and advice to the companies trusted to protect and grow the world’s assets, and to the technology and service providers who support them. Staffed by experienced industry executives, researchers, and consultants, we support the world’s most progressive banks, insurers, investment firms, and technology companies through a mix of insights and advisory subscriptions, data services, custom projects and consulting, conferences, and executive councils. Visit datos-insights.com to learn more. About Experian Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realize their financial goals and help them to save time and money. We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments. We invest in talented people and new advanced technologies to unlock the power of data and innovate. As a FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 22,500 people across 32 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.
I’m excited to share the current Experian Commercial Pulse Report with you. I have the opportunity each week to analyze data on the millions of U.S. small businesses in Experian’s database and discover actionable insights that benefit our clients. Making these discoveries is rewarding work, and we utilize these insights to guide our recommendations. I thought I would share what I am watching through Experian’s bi-weekly Commercial Pulse Report (just bookmark the link; we will update it on a bi-weekly basis). What I am watching this week: Population and business growth in the Southern U.S. have outpaced other regions since 2021, but both are now slowing, impacting commercial credit access and delinquency rates. We include some interesting insights in this release. Population migration to southern states slows as commercial credit dips National existing home sales up in July ending streak of monthly declines PCE inflation rate stayed unchanged at 2.5% in July, suggesting the Federal Reserve may lower interest rates in September Download Commercial Pulse Report Commercial Insights Hub Related Posts
Experian is very pleased to announce the release of the Q2 2024 Main Street Report. Join us for a deep dive on Q2 performance Experian will share key findings from our Q2 Main Street Report in the Quarterly Business Credit Review: Tuesday, August 20th, 10:00 a.m. Pacific | 1:00 p.m. Eastern Register to attend Small businesses resilient amid growing volatility The excitement of a U.S. Election cycle in the fall, a cooling economy, rising unemployment, and a turbulent international landscape all play into a fall filled with anxious sentiment but stable cash flows. The economy has been humming at a stable pace over the last two quarters. Consumers have been spending their wage gains while not overleveraging their cards. This stability in the market has led small businesses to operate in the US at pace with expectations. Growth has been slow as credit markets, although open, have tightened underwriting policies that limit both the consumer and small business from gaining access to low-cost funding to enter a season of true growth in the US. The economy is cooling, and the market expectations for a Federal Funds Rate cut are rising. Download the latest report for more insight. Download the Q2 2024 report now
I’m excited to share the current Experian Commercial Pulse Report with you. I have the opportunity each week to analyze data on the millions of U.S. small businesses in Experian’s database and discover actionable insights that benefit our clients. Making these discoveries is rewarding work, and we utilize these insights to guide our recommendations. I thought I would share what I am watching through Experian’s bi-weekly Commercial Pulse Report (just bookmark the link; we will update it on a bi-weekly basis). This week's report contains some compelling insight into commercial fraud. In 2002, a Trustpair Institute for Finance & Management survey reported 56% of businesses had reported some sort of fraud attempt, in 2023 the survey shows 96% of businesses reporting fraud attempts. What I'm watching: The growing financial fraud problem: Consumers lost a staggering $10 billion to fraud in 2022, marking a 14% increase from 2021. Already, a shocking 5 billion records were found on the dark web this year, matching the 2023 total. The economy grew 2.8% in Q2. The Fed leaves interest rates flat but leaves the door open for a potential cut at the September meeting. That’s a quick take – Download the latest report. Download Commercial Pulse Report Commercial Insights Hub Related Posts
