– 36% of small businesses co-mingle personal funds with B2B purchases
– The younger the business owner – the more likely to use a personal card
– 49% of millennial business owners use personal cards
– 31% of older business owners use personal cards for business
Small businesses will use a personal credit card or charge card for tons of reasons:
better rewards, greater ease of use, and better cardholder protections are all available through personal cards vs. small business credit cards
Data for this episode of Truth In Data provided by Mercator Advisory Group’s report – Business Credit Cards and B2B Payments: Opportunity to Improve Market Penetration