Millions of individuals monetize their talents and passions on platforms like OnlyFans, Patreon, YouTube, and TikTok. They are musicians, comedians, fashion influencers, and more, collectively known as “creators.” In a bold step, Visa has officially classified them as small businesses. This move brings new opportunities and resources to this thriving community.

Not Your Typical Business

On November 12, Visa announced that creators generating income from content on digital platforms will be recognized as small businesses. This designation allows them access to Visa’s robust suite of financial tools designed specifically for small businesses. Darren Parslow, Visa’s Global Head of Commercial Solutions, explained the decision: “When you think of the demographic change and the way business is changing, this group will become small and mid-sized corporates.”

Visa’s move acknowledges that the creator economy, which now includes over 200 million individuals globally, represents a new wave of entrepreneurship. This reclassification gives creators access to capital, payment services, and business resources.

Building a Stronger Creator Economy

Parslow emphasized Visa’s commitment to ease access to the digital economy for creators. From business credit and debit cards to digital payment management platforms, Visa offers tools that empower creators to streamline transactions, manage finances, and gain financial literacy. These offerings create opportunities for small-scale creators to develop sustainable, professional ventures.

Many creators struggle with cash flow issues despite finding ways to monetize their content. “Creators are small businesses by definition,” Parslow noted. “They are treated primarily as individuals, but if you pivot to treat them as business owners, they need specialized financial tools. They need cash flow management tools and fast, reliable payment solutions to sustain their businesses.” 

Growth Through Strategic Partnerships

Visa has partnered with leading digital platforms across Europe, North America, and Asia to support creators. The partnerships have allowed Visa to respond to creators’ growing demand for accessible capital and working capital options. By teaming up with these platforms, creators can access funds to expand their reach and business opportunities. This approach has yielded 20% month-over-month growth in just six months.

Empowering Creators With Education and Mentorship

Visa also supports creators through educational initiatives. One prominent effort is Visa’s “Get Paid” social video series. It is designed to connect aspiring creators with mentors in industries like fashion, food, and music. Seasoned creators share insights on building a sustainable career, managing business finances, and stimulating growth through these mentorships.

This month, Visa will host its first Creators Summit in Tokyo. The two-day event will bring together visa experts, creators, and major platforms such as TikTok and Amplify. The summit will provide a collaborative space for creators to discuss ways to scale their businesses, manage cash flow, and optimize payment processes.

Expanding Visa’s Product Suite for Creators

Visa’s support for creators doesn’t stop at mentorship. The company is also opening up its entire range of products to creators, including small business credit and debit cards, prepaid options, digital reporting, and payment controls. Through its “Practical Business Skills” program, Visa offers creators financial education resources for long-term success.

“We are extending the practical business skills we manage globally,” Parslow stated. This comprehensive approach demonstrates Visa’s dedication to supporting creators in a way that goes beyond mere transactions.

Redefining a New Future for Content Creators

Visa’s redefinition of small businesses to include creators marks a significant shift in corporate America. It recognizes that today’s small enterprises encompass individuals who turn ideas and talents into revenue.

For creators, this development means access to resources once reserved for traditional businesses. By providing capital, mentorship, and business tools, Visa is helping creators move beyond simply making content. They are now empowered to grow thriving, sustainable businesses. This redefinition benefits creators and helps to shape the future of small business on a global scale.