WHAT’S HAPPENING in the Small Ticket sector of the equipment finance space? Equipment Leasing & Finance magazine caught up with Brad Peterson, CEO of Channel and second-year Chair of the Small Ticket Business Council Steering Committee (BCSC), to take a pulse of this sector. As Chair, Peterson guides the BCSC committee in its focus to engage financial services organizations primarily involved in transactions under $250,000, either individually or through lines.
From your perspective, what hot topics is the Small Ticket sector focused on this year?
In early Q1 we conducted a survey with our Small Ticket BCSC members that identified key areas of focus for 2022, and their collective interests centered on benchmarking performance, technology, economic outlook, regulatory environment and data—all of which we will spend time discussing. However, seven months post-survey, there are other issues that would certainly make the list and are of focus to our group as well, including inflation driving a rapidly rising rate environment and its potential impact on access to some capital sources, as well as employee recruitment and retention challenges in a landscape of varied workplace settings.
In February, we invited economist Elliot Eisenberg to speak to the committee about the economic outlook for 2022, focusing on projected economic trends specific to the Small Ticket sector. In April, we conducted business roundtables on the state regulatory environment as well as data and analytic sources and uses. The committee is highly interested in supporting and providing value to Small Ticket companies and will do so by continuing to curate and share focused topic content with members who have indicated interest in the Small Ticket channel.
How did you get involved with the BCSC? Would you recommend it to others?
I was fortunate to be recommended for a seat on the committee and immediately knew it would be a great opportunity to further my involvement with the association and the industry, as well as offer positive exposure for our company.
I would highly recommend joining to new members, and for existing members to consider furthering participation by their forward-thinking senior managers to expand their horizons within the industry.
The Business Council Steering Committees are an excellent way to build relationships within ELFA and provide immense value in networking and meeting others within an industry proactive peer setting.
About the BCSCs
The BCSCs represent ELFA’s five key business segments: Captive and Vendor Finance, Bank, Independent, Service Providers and Small Ticket. Learn more at www.elfaonline.org/BCSCs. Interested in joining? Contact Ed Rosen at [email protected].
