There is a significant business market that is being ignored by almost every major bank. Many know this market as the small office/home office (SOHO), non-employer or personal business segment (generally thought to be businesses with less than $100,000 in annual sales revenue). With over 20 million entities, the SOHO market is over twice the size of the small business segment ($100K-<$10MM), representing seven out of ten businesses under $10MM in annual sales. This is not only the largest business segment, but the fastest growing as well. Barlow Research recently completed a comprehensive, multi-sponsored study that gathered the information needed to segment the SOHO market, examine their financial management, payment and credit card behaviors, measure the value of the SOHO customer, analyze product usage and explore business Internet banking and mobile device habits.
For more information, you can view the press release that was issued here.