Study reveals supporting small business is a priority for banks

According to a recent study by Novarica, increasing 2012 technology spending in the small business segment is a top priority for banks.

Novarica, the technology and strategy research division of financial services consultancy Novantas, found that technology spending will rise more for the sector than any other, as boosting small business job creation becomes increasingly paramount to lowering the nation's unemployment.

"Given this investment trend, we expect to see a significant ramp-up in bank small business go-to-market activities during 2012," said Novantas partner Les Dinkin.

The study also found that financial institutions are increasing their general focus on small business customers across the board.

Federal Reserve Chairman Ben Bernanke acknowledged the importance of supporting the growth of small enterprises at a recent conference on small business and entrepreneurship. He noted that startups "played an important role in fueling past economic recoveries" and emphasized the importance of providing entrepreneurs with the tools they need to facilitate job creation.

Small businesses also seem to have the support of the American people. According to a recent Gallup poll, 79 percent of U.S. citizens have the most faith in the views of small business owners when it comes to job creation. Just over half responded in kind for President Barack Obama (52 percent), while Bernanke ranked lowest at 40 percent.