54% of entrepreneurs need credit to leverage Valentine’s Day, says survey

For this Valentine’s Day, 54% of entrepreneurs say they need credit to be able to leverage sales during the date, according to a survey carried out by Boa Vista.

According to the company, there was a drop of 24 percentage points compared to the same study last year, when 78% of respondents said they needed to use credit to promote their products and services.

Boa Vista economist Flávio Calife believes that the reduction in credit demand is justifiable, due to the much higher cost than a year ago.

In June 2021, the Selic rate was around 3.50%. Now, the basic interest rate is at the 12.75% mark, and may still rise at the next Copom meeting, scheduled to take place on June 15th and 16th.

Bank lines of credit are the most sought after among those who will seek credit to try to sell.

Of those who will resort to credit, 79% said they followed this path. The data represents an increase in 19 percentage points, since in 2021, 60% reported that would turn to these financial institutions.

“IT IS It is important to remember that in thethe past 17% of those who sought credit turned to the ‘family’ and this fall from one year to the next also has an explanation. Interest rates rose in an attempt to contain the advance of inflation, which is still did not give in, and the purchasing power of families was impacted by inflationary pressures, which were not few and that also reached basic items of the consumption basket, such as and fuels. With less disposable income, it naturally became more difficult to resort to this source”, analyzed the economist

The Boa Vista survey took place in May of this year and involved 500 micro, small, medium and large companies in the commerce, services and industry sectors. They answered a question via email.