Managing money and payments challenging for US SMBs

The WePay SMB & Money Survey shows that 41% of businesses report having experienced cash flow challenges and 16% have experienced payment fraud in 2016. The cash flow issues hit particularly hard with a majority (59%) saying the financial impact is highly consequential or consequential.

As regards the fraud implications, 25% of SMBs have experienced a chargeback fraud in 2016. Many small businesses have experienced multiple instances of customer payment fraud, including 8% of those affected reporting 10 or more instances.

To sum things up, payment fraud and chargebacks affect all types of SMBs - new and old, those that sell goods and services, and those that conduct commerce in-person and online.

This survey was conducted in April 2017 by Survata, an independent research company, on behalf of WePay. Survata completed 505 online interviews with US-based small business owners and operators.