Small Business Week is a time to recognize the entrepreneurs, shop owners, contractors, restaurants, service providers and family-run companies that keep local economies moving. It should also be a time to ask a practical question: why does the payment system they rely on still move too slowly?

For small businesses, cash flow is not an abstract term. It is payroll on Friday. It is rent due at the beginning of the month. It is inventory that needs to be reordered before the next busy weekend. It is whether a business owner can pay a supplier today or has to wait for a payment to clear.

Yet too often, moving money in the United States still takes days. That delay can create real costs for small businesses operating on tight margins. When funds are stuck in transit, business owners may have to rely on credit, delay purchases, absorb fees or spend time chasing payments instead of serving customers.

That is why the bipartisan Payments Access and Consumer Efficiency Act, H.R. 8395, matters. Recently introduced by U.S. Representative Young Kim and U.S. Representative Sam Liccardo, the PACE Act would modernize the way regulated payment companies access the nation’s payment infrastructure. By creating a clearer federal pathway for participation in payment systems, the bill would help expand access, increase competition and support faster, more affordable payments for consumers and Main Street businesses.

Small businesses live with the consequences of outdated payment rules every day. At ASAP, multiple coalition members have highlighted how slow payments hurt their business: 

“Millions of entrepreneurs build their businesses on Shopify and the speed and cost of payments shapes whether they can make payroll, restock inventory and grow. We support modernizing payment rules so faster, more affordable options reach every Main Street business, not just the largest companies.” – Shopify

“As a family-owned business that supplies small, locally owned bakeries and restaurants across Arkansas, we see firsthand how much they rely on online transactions to keep operating. Payment delays and excessive fees don’t just make it harder for us to deliver, they disrupt the entire supply chain and place added strain on the restaurants and the communities they serve. Streamlining digital payments will support American businesses at every level.” – H.F. Scruggs Company (Little Rock, AR)

“At Raygun, we design shirts that say what you’re thinking — bold, clever and unapologetically local. But while our ideas move fast, our payments don’t always keep up. A faster, more competitive payment system would mean less time chasing invoices and more time printing the things that make people laugh, think and wear their heart (or favorite cat design) on their sleeve.” – Raygun (Des Moines, IA)

Faster payments would not solve every challenge facing small businesses, but they would make a meaningful difference. Faster access to funds can help businesses manage day-to-day expenses, reduce reliance on short-term credit and operate with more confidence. Lower-cost payment options can also help preserve margins at a time when many small businesses are still dealing with higher costs.

Small Business Week is about celebrating the people who take risks, create jobs and serve their communities. They should not have to build modern businesses on top of outdated payment rails.

A payment system that works faster, costs less and offers more choice is not just a technology upgrade. It is a small business issue. It is an affordability issue. And it is a commonsense step toward a financial system that better reflects the speed of today’s economy.

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