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New Report: Small businesses anticipate growth in 2024, focused on improving profitability and cash flow

New survey analyzes small business sentiment and cash flow data for holistic overview of small business health

CHICAGO, Feb. 15, 2024 /PRNewswire/ -- Today, OnDeck Capital, the leading small business lending company at Enova (NYSE: ENVA), and Ocrolus, the document AI and cash flow analytics platform for lenders, released the first-of-its-kind Small Business Cash Flow Trend Report. The new quarterly report combines small business survey results with cash flow data from companies to provide deeper insights into the overall health and sentiment of small businesses across the United States.

Key findings include:

  • Most small businesses are feeling optimistic about growth in 2024 and their ability to expand over the next 12 months.

  • A steady increase in revenues supports this optimistic outlook for growth in 2024.

  • As inflation cools, businesses are looking to improve profitability and available cash as a way to support growth.

  • Hiring qualified staff remains a concern for over half of small businesses.

"Our survey of small business sentiment and cash flow data paints a deeper picture of the sentiment and overall health of small businesses today," said Cory Kampfer, Co-President of Small Business Lending at OnDeck. "While pressures like inflation and hiring persist, there's an unwavering optimism among small business owners that the most promising days lie ahead — a testament to their indomitable spirit even in the midst of an unpredictable economic climate."

"Gaining immediate and accurate visibility into businesses' financial health is a game-changer," said David Snitkof, SVP of Growth at Ocrolus. "By leveraging detailed and accurate cash flow data, small business lenders can make informed decisions, identify trends and implement strategies that not only enhance efficiency but also contribute to overall small business success."

Regional findings include:

Growth expectations are generally consistent across the country, with 25% of businesses expecting significant growth over the next 12 months as inflation cools. In Boston, Minneapolis and St. Louis, growth expectations are more muted, averaging just 16%.

The report also found a 25% growth in median revenue over the past 18 months, supporting small businesses' optimistic outlook.

Over 65% of small businesses in major metropolitan areas —including Boston, Chicago, Cleveland, Kansas City, Philadelphia and Minneapolis — were moderately, very or extremely concerned about hiring qualified staff.

The report is based on responses from nearly 500 small businesses with working capital loans and over 3 million small business applications for working capital financing during the past 18 months. The nationwide survey was completed between December 12-15, 2023. For more information and complete survey results, please visit: 

About OnDeck®
OnDeck®, part of Enova International, is the proven leader in transparent and responsible online lending to small businesses. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online. Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners. OnDeck has provided loans to customers in 900 different industries nationwide. For more information, visit

About Enova
Enova International (NYSE: ENVA) is a leading financial services company with powerful online lending that serves small businesses and consumers who are underserved by traditional banks. Through its world-class analytics and machine learning algorithms, Enova has provided more than 9.5 million customers with over $53 billion in loans and financing. You can learn more about the company and its portfolio of businesses at

About Ocrolus
Ocrolus is a document AI platform that enables faster and more accurate financial decision-making. The company analyzes documents with over 99% accuracy, regardless of format or quality, supporting over a thousand document types, including bank statements, pay stubs, and tax forms. Ocrolus provides a trusted solution to detect fraud, analyze cash flows and income, and streamline decisions for 400+ clients across a number of use cases. Customers such as Enova, PayPal, Brex, CrossCountry Mortgage, Plaid, and SoFi leverage Ocrolus automation to build delightful user experiences. To learn more, visit

SOURCE Enova International, Inc.

For further information: CONTACTS: OnDeck, Erin Yeager,; Ocrolus, Dan Horn,