Press Release: ACA Celebrates Small Business Week as 87 Percent of its Member Companies are Small, Entrepreneurial Organizations
5/3/2018 8:00 AM
A new ACA International white paper finds that the accounts receivable management industry is comprised of an increasingly diverse workforce
In recognition of Small Business Week, ACA International released new research that shows the vast majority (87 percent) of its third-party debt collection member companies are small businesses that largely serve other small businesses.
According to the white paper, Small Businesses in the Collection Industry in 2018, 44 percent of ACA member organizations have fewer than nine employees while 93 percent have 99 or fewer employees. While ACA International is the largest membership organization in the accounts receivable management industry, less than 1 percent of its membership has more than 500 employees.
“Small businesses are the backbone of this country and ACA International is proud to represent a growing number of high-caliber, entrepreneurial firms that contribute to our robust economy,” said Mark Neeb, ACA International CEO. “This recent white paper clearly shows that small businesses operating in the accounts receivable management industry provide career opportunities, good paying jobs and invaluable services to their local communities.”
Affordable, professional debt collection services are critical to the success of other small businesses, according to the white paper which notes that nearly half (45 percent) of the respondents said 51 percent to 100 percent of their customers are small businesses
The Small Business Administration Office of Advocacy defines a small business as either “an independent business having fewer than 500 employees,” or one that generates annual receipts that do not exceed the SBA size standard; for debt collection companies, the size standard is $15 million.
ACA also found that almost one-third (32 percent) of responding members said they were female-owned while 6 percent reported that they were minority-owned; an additional 5 percent are both female- and minority-owned. The overwhelming majority of these organizations also qualify as small businesses.
ACA's latest report is part of an ongoing research initiative to collect more original data about the accounts receivable management industry, and quantify how debt collectors help consumers, businesses and the overall economy.
For more than 50 years, the U.S. Small Business Administration’s National Small Business Week has recognized the impact of small businesses and entrepreneurs as the engines of the U.S. economy.