BILL.COM BLOG

Driving Small Business Success: Join Bill.com Partner Capital One as They Hit the Road to Help Local Businesses Flourish

#WeWorkAsOne

Small businesses are an important part of the U.S. economy, making up 99.7 percent of all U.S. businesses. In 2013 alone, the Small Business Administration reported that U.S. small businesses added 1.1 million new jobs to the economy and employed 48 percent of the U.S. private employee workforce.

With the rise of technology, small businesses are evolving and changing the way they run and manage their business. Innovative digital banking experiences have been emerging in the consumer segment, but there are little options available for small businesses. In a recent study from Bill.com, we found that small business’s relationship with their bank is changing—over 50 percent of small businesses are using online and mobile as their primary methods of banking, while only 32 percent were found to be in favor of in-person branch visits.

As relationships between small businesses and banks evolve, our partner Capital One® Spark Business® is reimagining banking with its digital tools and services tailored specifically for small businesses. To celebrate, promote and empower local businesses in major cities across the country, Capital One launched a new program, We Work As One℠. The program connects small businesses in select markets with local Capital One Cafés to educate customers on industry trends, engage consumers and the community in new ways, and address unique obstacles and challenges that small business owners face.

This summer, check out Capital One Spark Business as they hit the road with a series of special events at their cafés in Chicago, San Francisco, Denver and Boston:

  • Small Talk Thursdays: During select Thursday's each month, well-known companies supporting small businesses and leading local business owners will come together to discuss specific challenges they have faced in running their business and how they overcame them. Select sessions will be live-streamed so small business owners across the country can tune in.
  • Pop-Up Experience: Capital One will enlist select businesses throughout the month in each market to share their products and services with café visitors in their community.
  • Educational Demo: Capital One will select local small business owners to educate customers and other businesses about the trends their product and services address, share best practices to solve for common small business challenges, and engage with their local communities.
  • Spark Business: Small business owners can learn more about Capital One Spark Business' award-winning suite of financial products and resources that are built for business and designed to help SBOs achieve, save and sell more. Whether businesses are looking for online banking solutions with no fees or minimum balances, to start a 401k to begin saving for retirement, or accept payments through Spark® Pay, businesses at every stage can harness technology, and gain the skills and resources needed to compete, grow and prosper.

At the recent NACHA Payments conference in Austin, Johannes Endhardt, VP of Strategy, Marketing & Analytics at Capital One’s Small Business Bank, spoke with Bill.com CEO, René Lacerte in a standing-room-only session titled: Millennials Become the Face of Small Business in America & Business Banking Must Evolve. During this session, Johannes talked about Capital One’s strategy stating:

“Every bank is faced with bringing greater efficiency with regards to servicing customers within branches. At Capital One, we’re focused on building personal relationships with customers within our branches and café locations, making them a place to go to build a relationship not only with your finances, but also with your bank.”

For more information about Capital One’s We Work As One campaign, visit www.capitalone.com/WeWorkAsOne.

Be sure to also join us for a special webinar with Capital One Spark Business on Thursday, June 8 at 11 a.m. PT/2 p.m. ET, when we will discuss how small businesses can maximize their banking experience. You can register for free by clicking here

Jan Hoyt
Director, Bank Solutions Specialist at Bill.com
Prior to joining Bill.com to ensure the success of bank partners, Jan worked as a leader in the banking and tech sectors, specializing in digital channels and payments. Jan holds an MS in Information Science from the University of Pittsburgh and a BA from Bowling Green State University. Connect with Jan on LinkedIn at linkedin.com/in/janhoyt