American Express Global Business Travel’s umbrella partnership-C corporation (UP-C) organizational structure is starting to collapse.
The B2B travel platform said in a press release on Tuesday (July 11) that following a series of transactions, all owners of the company now own Class A common shares.
“The company anticipates that streamlining its organizational structure through the corporate simplification will improve market data integrity, increase the company’s weighting on specific indices, remove barriers to increased holdings of the company’s Class A common stock by certain investors, and reduce administrative and tax compliance costs,” reads a press release from American Express Global Business Travel.
The need for this form of funding, which we might term hyper-localized lending, emphasizes the importance of community-based lending and the ways in which smaller firms can at least partially benefit from the favorable word-of-mouth and customer loyalty established locally.
It also highlights some of the challenges faced by Main Street and many other industrial sectors. According to data from an ongoing series that focuses on the opportunities and challenges that these smaller enterprises confront.
40% of SMBs are still more anxious about inflation than they were a year ago, according to a recent study. 15% of them are also concerned about the potential for declining revenue.
