NextGen Chamber of Commerce and Capital One Business Release New Research on the Challenges & Opportunities of Small Businesses

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As our nation continues recovering from the pandemic, small business owners, especially those leading new and young companies, continue to struggle to find their way and need all the help they can get.

The NextGen Chamber of Commerce is pleased to release new survey data in partnership with Capital One Business and the Capital One Insights Center that explores the economic conditions, barriers to entrepreneurship, business growth, and other emerging small business trends within the ecosystem.

The survey was designed to better understand the challenges & opportunities of small businesses, with a focus on how millennial business owners are navigating the current economic climate.

NextGen Chamber of Commerce and Capital One Business are unveiling their latest survey findings during the celebration of National Small Business Week – which takes place the first week in May annually. On Wednesday, May 4th from 1:30pm-2:15pm ET, NextGen Chamber of Commerce will host a virtual roundtable, during which speakers including Jenn Flynn, Head of Small Business Bank at Capital One, Eddie Monroy, Executive Director of the NextGen Chamber of Commerce, and millennial small business owner, Camille Padilla, Co-Founder at Vodium, will discuss key findings from the survey and the current state of small business.

Eddie Monroy – Executive Director, NextGen Chamber of Commerce:
“As our nation continues recovering from the pandemic, small business owners, especially those leading new and young companies, continue to struggle to find their way and need all the help they can get. While 55% of millennial business owners are experiencing burnout, 60% of these same leaders feel just as, if not more, motivated to grow their business today than they did before the pandemic, highlighting the resilient nature of this generation.”

Jenn Flynn – Head of Small Business Bank, Capital One:
“Small business owner optimism shines through in our recent survey, and yet nearly 60% of small business owners report feeling constantly worried about their business’s finances over the past year. The small business community has weathered a wide range of challenges since the onset of the pandemic over two years ago, with inflation being top of mind today,” says Jenn Flynn, Head of Small Business Bank at Capital One. “We understand the current economic landscape will add pressure to business margins. Capital One is committed to supporting small business owners as they navigate the months ahead while continuing to operate and grow their business.”

For more information, please visit Capital One Insights Center.

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About the Capital One Insights Center
The Center combines Capital One research and partnerships to produce insights that advance equity and inclusion. As a nascent platform for data and dialogue, the Center strives to help changemakers create an inclusive society, build thriving communities and develop financial tools that enrich lives. The Center draws on Capital One’s deep market expertise and legacy of revolutionizing the credit system through the application of data, information and technology.

About Capital One Business
Capital One® offers a broad spectrum of financial products and services to consumers, small businesses, and commercial clients. Capital One Business offers a diverse suite of financial products, tools and services designed specifically for small businesses, including credit cards with unlimited rewards and banking products and services. Capital One Business is committed to fueling the courageous entrepreneurial spirit that’s at the heart of American small businesses. We are focused on listening to and learning from the millions of businesses we serve every day to make sure our products, services and experiences work as hard as they do.

About NextGen Chamber of Commerce
The NextGen Chamber of Commerce is America’s first business organization supporting our next generation of business leaders. We want to turn the tide in favor of millennials and support the generation that has been tasked with carrying America’s economy through the 21st century. We pursue this mission by advocating for policy solutions that will benefit Next Gen business formation, supporting the entrepreneurial ecosystem, promoting diversity in our economic ecosystem, and advancing millennial voices to enable a new generation of business leadership across businesses of all sizes to promote better capitalism.

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