Fintech

Inflation is now the biggest threat facing U.S. small businesses, creating widespread cash flow problems, according to the QuickBooks Small Business Insights Report released by INTUit today (NASDAQ: INTU), the global technology platform that makes QuickBooks , TurboTax , Mint , Credit Karma , and Mailchimp . Still, despite challenges, small businesses continue to be optimistic about opportunities on the horizon.

Almost all small businesses (99%) are now concerned about inflation, with one in two saying inflation is a threat to their business today. As a result, 68% of small businesses indicate they have experienced a cash flow problem. Of those, two in five have already dipped into their cash reserves, 39% have been forced to use personal funds, and 38% have used a credit card to plug the gap.

The Intuit QuickBooks Small Business Insights Report also found other mounting challenges for small businesses:

  • Cybersecurity issues remain top of mind. More than one in five (23%) small businesses describe cybersecurity as one of the biggest threats they currently face and 42% have experienced a cybersecurity breach. The top three most common are: malware (18% have been exposed), phishing (17% have been exposed) and data breach (16% have been exposed).
  • Hiring and retaining employees is still a barrier, but increasing pay is less of an option to attract new workers. Almost half say hiring is getting harder, while 38% say it's challenging to retain skilled workers. In response to hiring challenges, 19% are increasing pay for new workers, down significantly from our December survey , when 44% said they would increase pay.

Positive Outlook and Opportunities Despite Challenges
Despite looming challenges, small businesses remain hopeful with 58% currently optimistic about the economy, and if the pandemic shows continued signs of improvement and life returns to "normal" this summer, 79% expect that would have a positive impact on their business. In fact, many business owners are anticipating a big bounce this summer, with almost two-thirds (65%) predicting that their businesses will grow over the next three months. Other findings that point to a brighter horizon for small businesses include:

  • Entrepreneurial aspirations still high: More than one in five (22%) of consumers are currently considering starting a business. While not all may see these plans through, this is further evidence of the continued surge in new small business creation first reported by QuickBooks in December 2021 . With April as financial literacy month and this survey reinforcing there are so many Americans aspiring to start new businesses, ensuring they have the resources and tools available to start, run, and grow is paramount.
  • Fewer small businesses plan to raise prices. Today, just 43% say they plan to raise prices — the smallest proportion QuickBooks has seen since first publishing this data in September 2021 and down from 63% in December 2021.
  • Digital small businesses are expecting higher growth than before. Among omni-channel businesses (those with fully integrated online and offline sales) 79% predict growth over the next three months compared to just 47% for brick and mortar. In addition, 91% of small businesses say it will be important for people to be able to find or buy from them online over the next 12 months.
  • Small businesses are hiring - and looking for ways to retain talent. More than half of small businesses predict their workforce will grow over the next three months. To help with staff retention, almost half of small businesses (49%) plan to increase pay for existing workers. Two in five (42%) plan to increase bonuses — up from 36% in December .
  • Small businesses are offering benefits and promoting equality in the workplace. As business owner confidence improves and the need to invest in and grow their business intensifies, three in four small businesses (75%) today offer employee benefits. The three most common employee benefits are consistently: paid sick leave, healthcare and paid vacation time.

"Small business owners are always known to be resilient, and despite the challenges facing so many of us today, it's encouraging to see optimism is high as we approach summer," said Alex Chriss, executive vice president and general manager of Intuit's Small Business and Self-Employed Group. "It's particularly notable that small businesses that have invested in digital technology feel the most optimistic, and that we're continuing to see high levels of entrepreneurial aspiration."

This report and more research and insights from Intuit QuickBooks are available here .

About Intuit
Intuit is the global technology platform that helps consumers and small businesses overcome their most important financial challenges. Serving more than 100 million customers worldwide with TurboTax , QuickBooks , Mint , Credit Karma , and Mailchimp , we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us for the latest information about Intuit, our products and services, and find us on social .

Intuit QuickBooks:
Dan Mahoney
Dan_Mahoney@intuit.com

Jen Garcia
Jeng@accesstheagency.com

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INTU
Mako Identifies 2KM Gold Anomaly at Korhogo, Maiden RC Drill Program Imminent

Mako Identifies 2KM Gold Anomaly at Korhogo, Maiden RC Drill Program Imminent

Mako Gold Limited (“Mako” or “the Company”; ASX:MKG) is pleased to advise that it has received the results of the 11,000m auger drilling program on the Ouangolodougou and Korhogo Nord permits which constitute the Korhogo Project1 . The permits collectively cover 296km2 hosting 17km of faulted greenstone granite contact as shown in Figure 1. Both permits are 100% owned by Mako and are readily accessible from the Mako Field Office.

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FIS is Building the Bridge to the Metaverse: Tips for the New Digital Frontier

Key facts

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The metaverse is opening a new frontier of opportunities in the digital economy. As a financial technology leader, FIS ® (NYSE: FIS) is creating a bridge from physical to digital and looking to enhance customer experience for businesses that are innovating in this nascent market.

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PayPal Announces Pricing of Senior Notes Offering

PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has priced its offering of $3.0 billion aggregate principal amount of senior notes, consisting of $500 million aggregate principal amount of 3.900% notes due 2027, $1 billion aggregate principal amount of 4.400% notes due 2032, $1 billion aggregate principal amount of 5.050% notes due 2052 and $500 million aggregate principal amount of 5.250% notes due 2062. The offering is expected to close May 23, 2022 subject to customary closing conditions.

PayPal Logo (PRNewsfoto/PayPal)

PayPal estimates that the proceeds from the offering will be approximately $2.99 billion , before deducting offering expenses. PayPal intends to use a portion of the proceeds from the offering to fund the purchase for cash of any and all of the Company's outstanding 2.200% Notes due 2022 and 1.350% Notes due 2023 pursuant to the tender offer that commenced on May 16, 2022 and for the payment of related and unpaid interest, premiums, fees and expenses. PayPal intends to use the remainder for general corporate purposes, which may include funding the repayment or redemption of any 2022 Notes and 2023 Notes that are not validly tendered and accepted for payment in the tender offer, as well as other outstanding debt, share repurchases, ongoing operations, capital expenditures and possible acquisitions of businesses or assets or strategic investments.

BofA Securities, Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint book-running managers of the offering.

This offering is being made under an automatic effective shelf registration statement on Form S-3 filed by PayPal with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus supplement and accompanying prospectus. Before you invest, you should read the prospectus supplement and accompanying prospectus, as well as other documents PayPal has filed or will file with the SEC for more complete information about PayPal and this offering. These documents may be obtained for free by searching the SEC online database (EDGAR) on the SEC website at www.sec.gov . Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus, and, when available, the final prospectus supplement for the offering may be obtained by contacting: BofA Securities, Inc. at NC1-004-03-43 200 North College Street, 3rd floor Charlotte NC 28255-0001 Attention: Prospectus Department, e-mail: dg.prospectus_requests@bofa.com , telephone: 1-800-294-1322; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, e-mail: prospectus-ny@ny.email.gs.com ; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About PayPal

PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering 429 million consumers and merchants in more than 200 markets to join and thrive in the global economy.

Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of applicable securities laws, including statements related to the anticipated terms of the offering, the anticipated closing of the offering, the expected use of proceeds of the notes and other statements that are not historical fact. These forward-looking statements can be identified by words such as "may," "will," "would," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "strategy," "future," "opportunity," "plan," "project," "forecast" and other similar expressions. Forward-looking statements are based upon various estimates and assumptions, as well as information known to PayPal as of the date of this press release, and are inherently subject to numerous risks and uncertainties. Accordingly, actual results could differ materially from those predicted or implied by forward-looking statements.  For the reasons discussed above, you should not place undue reliance on the forward-looking statements in this press release. PayPal assumes no obligation to update such forward-looking statements, except as required by law.

Investor Relations Contacts
Gabrielle Rabinovitch
grabinovitch@paypal.com

Ryan Wallace
ryanwallace@paypal.com

Media Relations Contacts
Josh Criscoe
jcriscoe@paypal.com

Taylor Watson
taywatson@paypal.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/paypal-announces-pricing-of-senior-notes-offering-301548490.html

SOURCE PayPal Holdings, Inc.

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The Offer is made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 16, 2022 (as may be amended or supplemented from time to time, the "Offer to Purchase "), and its accompanying notice of guaranteed delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase , the "Tender Offer Documents"). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase .

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Join Intuit QuickBooks and the U.S. Small Business Administration for a Small Business Success Month Town Hall

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As part of Small Business Success Month , INTUit (NASDAQ: INTU), the global technology platform that makes QuickBooks , TurboTax , Mint , Credit Karma , and Mailchimp , will host a candid conversation with Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), on Thursday, May 19 to discuss the biggest challenges facing small businesses today, including how to access capital, manage inflation and improve cash flow. Emmy award-winning journalist Lisa Ling will moderate the conversation.

News Provided by Business Wire via QuoteMedia

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TIMIA Capital

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