Small Business Digital Alliance Celebrates Entrepreneurship and Innovation

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Small Business Digital Alliance Roundtable in San Francisco on May 2.

To kick off PayPal’s 5th annual Small Business Month, PayPal and Venmo, in partnership with the Small Business Administration and Business forward, hosted an event celebrating the critical role entrepreneurs play in the fabric of our communities and the health of our economy.

The event, part of the Small Business Digital Alliance, was held in San Francisco on May 2. The headline roundtable event focused on how digital tools – including PayPal, Venmo, and PayPal Zettle – enable greater opportunity and stronger business, but only if those tools can be accessed equitably and efficiently. The leaders cited the important role that public-private partnerships, along with nonprofits, play in reaching those underrepresented SMBs.

PayPal Senior Vice President of Payments and SMB Solutions Jim Magats noted recent PayPal research that found digital small businesses operating with PayPal grew 25% in the second quarter of 2020, in the heart of the pandemic lockdowns, while the small business sector overall declined by 9%.

Some highlights from the conversation:

“Leaning into the Small Business Digital Alliance and the companies who have really been there for small businesses as well to help them with tools is a path forward for how we can better support these small businesses,” said SBA Administrator Isabella Casillas Guzman.

“One of the things we have been extremely focused on is partnering with the public sector. Very honored to be part of the Small Business Digital Alliance and very honored to have Administrator Guzman with us today to talk about what we can do collectively. We believe that small businesses deserve a team effort and require a team effort of all of us pulling together,” said Jim Magats.

The other business leaders participating in the discussion included representatives from various Chambers and small business organizations like the California Association for Micro-Enterprises, Reimagine Main Street, the Oakland Black Chamber, the CA African American Chamber and the local SBA District Director and Small Business Development Center.

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