A tidbit about the nature of SMB customers.
There are now 8.73 million Americans who are self-employed without owning their own company. That’s down from a peak of 9.51 million in August 2021, even lower than the 8.89 million registered in January 2020, before the pandemic hit.
Self-employment is down.
That’s a demographic change – a reduction in the smallest businesses. The ones who grow up to become larger ones. It’s certainly not an unhealthy market, just something to note.
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