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## Fiserv Small Business Index Shows Positive Trends in North Dakota

BISMARCK, ND (KXNET) — Fiserv, Inc. has recently released their April 2024 Small Business Index, shedding light on consumer spending trends across the nation. Surprisingly, North Dakota businesses are defying the national trends and experiencing remarkable success.

The Fiserv Small Business Index, published monthly, provides insights into how consumer spending at small businesses has evolved over time. In April 2024, small businesses nationwide saw a 2.2% increase in month-over-month revenue, highlighting their growing importance to the economy.

One standout trend from the April survey was the significant rise in service spending, particularly in professions like accounting and home services. This surge can be attributed to tax season and the upcoming summer season, driving demand for specific services.

In contrast, discretionary spending businesses, such as restaurants and recreational activities, saw a decrease in revenue from March to April. Despite the reduction in spending, consumers are still frequenting these establishments, albeit opting for more affordable options.

North Dakota, however, has emerged as a beacon of growth amidst these fluctuations. The state’s Small Business Index rose to 159 in April, showcasing a 14-point increase from the previous month. Unlike the national trend, North Dakota’s food and restaurant sales experienced growth, with the accommodation sector performing exceptionally well.

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## Fiserv Chief Data Officer Points Out Key Shifts in Consumer Spending

Prasanna Dhore, Fiserv’s Chief Data Officer, highlighted the significant changes in consumer spending observed in April. Service-based businesses saw notable gains, offsetting declines in discretionary spending. Retail also saw positive growth, with small retailers reporting year-over-year sales increases.

For a detailed analysis of the Fiserv Small Business Index and to track demand and revenue trends over time, visit their official website [here](https://www.fiserv.com/smallbusinessindex).

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