Small businesses generate nearly half of America’s GDP, according to the U.S. Small Business Administration (SBA). But for many entrepreneurs, the day-to-day reality still comes down to juggling cash flow concerns, rising costs, access to capital, and the pressure to keep up in an increasingly digital economy.
At the same time, small business owners remain remarkably resilient—and surprisingly optimistic. Many are investing in digital tools, looking for smarter ways to manage operations, and seeking practical advice to help them grow stronger and more financially stable.
That’s one reason Mastercard just launched its third annual Small Business Summit series during National Small Business Month. I talked with Ginger Siegel, North America Small and Medium Business Lead at Mastercard, about the biggest financial challenges small businesses face today, why access to capital remains stubbornly difficult, and what entrepreneurs need most right now.
Rieva Lesonsky: Small businesses generate nearly half of U.S. GDP, yet many still struggle with access to capital and resources. Where are the biggest gaps right now?
Ginger Siegel: Small businesses play a significant role in the U.S. economy, yet are navigating a more complex environment than ever, and the gaps we see consistently start with capital readiness and digital optimization.
Customer expectations are increasingly digital‑first, but most small businesses don’t have large teams or built‑in infrastructure to keep up. At the same time, ongoing pressure around access to capital, cash flow, and operational efficiency can limit both growth and resilience. That’s why our focus at Mastercard always begins by listening to what small business owners are facing on the ground and meeting them where they are—with tools, insights, and partnerships that help close those gaps in real, tangible ways.
Lesonsky: What are you seeing in terms of how small business owners are spending today—and how access to capital remains a major challenge for small businesses? What’s changed—and what hasn’t?
Siegel: What’s changed is how intentional small business owners have become. Today, spending is increasingly focused on building clarity and confidence—investing in digital payments, cybersecurity, and data‑driven tools to help plan and operate with greater certainty.
What hasn’t changed is that access to capital remains one of the most persistent challenges, especially when businesses are still evaluated more on personal credit than on the strength of the business itself. That’s why our approach goes beyond any single product. We focus on capital readiness—working with industry partners to help owners establish that critical distinction, better understand their financial picture, strengthen decision‑making, and build business credibility over time so they’re positioned more strongly when they seek funding.
Lesonsky: How are small businesses managing cash flow in the current environment, especially with ongoing cost pressures?
Siegel: Successful cash flow management has become increasingly reliant on digitization. It is now a daily discipline versus a quarterly exercise. Small businesses need to prioritize faster ways to get paid, greater visibility into expenses, and digital tools that reduce friction moving money in and out.
Visibility is critical—into customer demand, expense timing, and upcoming obligations. Through Mastercard’s ecosystem, including Mastercard’s Small Business Navigator and Digital Doors programs, and our recently announced Virtual C-Suite, we are helping businesses streamline operations, use data to anticipate demand, and make smarter decisions before cash‑flow pressure turns into a crisis.
Lesonsky: What does “financial health” look like for a small business today—and how can owners measure it?
Siegel: Financial health today is about resilience, security, and confidence—and for small businesses, that means more than simply staying afloat. It’s having the clarity to manage cash flow, protect the business, and make informed decisions in real time, even in the face of unexpected disruptions. Whether the goal is growth, stability, or long‑term sustainability, financial health is about being prepared, not reactive.
From Mastercard’s perspective, financial health starts with getting paid through reliable, digital payments—but it doesn’t stop there. It’s built through secure systems, access to actionable insights, and tools that help owners separate and strengthen their business finances, better understand their performance, and protect what they’ve built.
As part of our broader commitment to small businesses, we’re working with partners across the ecosystem to support these fundamentals—helping owners build healthier, more resilient businesses that are positioned to move forward with confidence at every stage of their journey.
Lesonsky: You’ve just launched another Small Business Summit series. What are small business owners telling you they need most right now?
Siegel: They’re telling us they need practical, hands-on help—not theory—and they need it delivered through seamless collaboration. Small business owners don’t want to navigate financial and operational complexity alone.
That’s why the Summits are designed as full‑day, hands‑on power sessions, bringing together entrepreneurs, financial institutions, fintechs, community organizations, and local leaders. Whether it’s the creator economy in New York, innovation and local infrastructure in Atlanta, or manufacturing and community commerce in Chicago, each Summit is tailored to the realities of that local ecosystem and focused on actionable guidance owners can use immediately. We’re dedicated to further educating and inspiring industry partners to support the small business segment and address their needs together so everyone cannot just survive but thrive.
Lesonsky: Where do small business owners tend to struggle most when it comes to financial management or decision-making?
Siegel: The biggest challenge is operational overload. Small business owners wear every hat at once—CEO, CFO, CMO, and CSO—so financial decision-making often suffers not from lack of discipline, but from lack of time and perspective.
That’s why we’ve focused on bringing executive‑level intelligence to small businesses, starting with finance. Through the Virtual C‑Suite, and first with the Virtual CFO, we’re helping owners cut through complexity with clearer visibility into cash flow, risks, and opportunities—so that decisions become simpler, faster, and more confident. It’s about turning operational complexity into clarity and giving small businesses the kind of insight that’s historically only been available to large enterprises.
Lesonsky: What are some of the most important financial habits or systems small business owners should have in place today?
Siegel: Two habits are truly foundational for small business financial health today. First is clearly separating personal and business finances so the business can stand on its own and be evaluated on its own performance, build credibility, and be positioned more strongly with partners and lenders.
Second is embracing digitization across payments, operations, and security—and that increasingly means moving beyond checks and cash toward card‑based payments. Recent research led by Mastercard and its payments partner shows a clear shift underway as small businesses look for faster, more secure, and more transparent ways to pay and get paid. Cards offer greater control, better record‑keeping, and real‑time visibility into spending, all of which are essential for managing cash flow and making informed decisions.
Through programs like Digital Doors and tools available through Small Business Navigator, Mastercard works with industry partners to help owners understand where they are in that digital journey and take practical next steps—whether that’s accepting card payments more easily, managing expenses with greater visibility, or protecting their business online.
It’s about helping small businesses build healthier financial habits that support confidence, resilience, and long‑term growth.
Lesonsky: Despite the challenges, many small businesses remain optimistic. What are you seeing in terms of growth plans or investment priorities?
Siegel: What inspires me is that optimism doesn’t look the same for every business. Not all small businesses want to scale rapidly—and that’s okay. Many want stability, sustainability, or the ability to serve their community better.
Our role is to help owners become what they want to be at each stage of their journey, whether that’s growth, protection, or transition. Success isn’t one‑size‑fits‑all, and our tools and partnerships are designed to support that flexibility.
Lesonsky: If there’s one thing small business owners should focus on during National Small Business Month, what would it be?
Siegel: National Small Business Month is a moment to celebrate, but our commitment to supporting small businesses is year‑round and top of mind for us every day. Whether through programs like Digital Doors, Small Business Navigator, Mastercard Strive, or our Small Business Summits themselves, community and connection matter. Small businesses thrive when they’re supported—not just with encouragement, but with real tools, mentorship, and access that meet their needs and help them operate with confidence every day.
This National Small Business Month—and every day after—joining the Mastercard Small Business Community and staying connected to educational webinars, events, tools, products, thought leadership, and a broader network of peers would be a meaningful step. This month is also a natural moment for small business owners to step back, align on priorities, and plan confidently for the year ahead.
My Takeaway: One point Ginger Siegel returned to repeatedly in this Q&A is that today’s small businesses need more than funding—they need clarity. Whether it’s understanding cash flow, separating business and personal finances, improving cybersecurity, or adopting digital payment systems, entrepreneurs are looking for practical tools that help them make smarter decisions and operate with greater confidence.
And while technology is playing a larger role in small business success, Siegel stressed something equally important: community matters. Small business owners may wear every hat in their companies, but they shouldn’t have to solve every challenge alone.
Rieva Lesonsky is the founder of Small Business Currents, a content company focusing on small businesses and entrepreneurship. You can find her on Twitter @Rieva, Bluesky @Rieva.bsky.social, and LinkedIn. Or email her at Rieva@SmallBusinessCurrents.com.
