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inroads.org

About Inroads

Inroads is a non-profit organization that provides leadership development programs. It is based in Saint Louis, Missouri.

Inroads Headquarter Location

10 South Broadway Suite 800

Saint Louis, Missouri, 63102,

United States

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Latest Inroads News

BAI Research Reveals Large Banks Still Lead in Small Business Banking, but Neo-banks are Making Fast Inroads

Apr 21, 2022

- Survey finds 87% of business owners also use the same financial services organization for both personal and business accounts - April 21, 2022 09:00 AM Eastern Daylight Time CHICAGO--( BUSINESS WIRE )--BAI, a non-profit independent organization that delivers the financial services industry’s most actionable insights , released new BAI Banking Outlook research addressing small business banking insights and trends. In a survey of 600 business owners under $20 million in annual revenue, 60% said a large bank was their primary financial services provider. However, neo-banks have quickly made an impact in small business banking, with growth to a 16% share. Neo-banks do especially well in the $1 million and under sales size, where they claim nearly 24% market share. Nearly half of small businesses are forecasting profit increases for their business in 2022 but less (only 40%) expect to see a profit margin increase in 2022 showing that inflation is having a real impact on profit margins. The BAI research also found that 87% of business owners use the same financial services organization for their business and personal financial relationships, supporting the importance of financial services organizations better understanding the entire customer relationship. Over 90% of business owners express at least moderate concern about inflation negatively impacting their business. Loan demand among business owners has decreased over time. Overall, 23% of businesses do not have any loans with a balance compared to 2019 at 13%. More businesses have grown deposits over the last 2 years and used those deposits to fund their business needs and pay down loans. Financial services organizations continue to score low on Net Promoter Score (NPS), with business owners giving their primary organization an average score of only 38. Regional Banks have the highest Net Promoter Score at 47 followed by Community Banks and Credit Unions at 39. “The low NPS is driven by financial services organizations’ difficulty in recognizing and servicing the whole relationship between personal and business products and services,” said Karl Dahlgren, Managing Director at BAI. “Business owners told us in the survey that they most want their financial services organizations to deliver tools and options to customize solutions. They are also looking for a more coordinated level of service between personal and business accounts. Leaders should take notice of the services they are providing for their business customers and cater to the specific needs of business owners.” For more information about the BAI Banking Outlook survey results, or to watch the free webinar, visit BAI’s website . Contacts

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  • Where is Inroads's headquarters?

    Inroads's headquarters is located at 10 South Broadway, Saint Louis.

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