Small businesses are big business, and unfortunately, they can represent big risk too. According to research conducted by Greenwich Associates, the percentage of small businesses applying for a loan increased from 5% in the third quarter of 2010 to 15% in the fourth quarter of 2010 and skyrocketed to 29% in the first quarter of 2011. This provides some optimism that small businesses are transitioning from “survival” mode to “growth” mode for the first time in several years.
With this emerging opportunity, many risk professionals are interested in new tools that can help them mitigate the risk associated with their small business accounts. I’ll be presenting some of these tools at the TRMA Summer Conference later this month. The conference will be held at the Sir Francis Drake Hotel in San Francisco on June 28th and 29th. In my session, I’ll be discussing some of the new technologies that have been developed to uncover fraud, improve risk assessment and optimize commercial collections by uncovering relationships between principals and their associated business interests.
Based on my past experiences with the TRMA, this should be a great show. If you make it there, be sure to say hello. You can register online here.