Managing cash flow is a major challenge for micro-entrepreneurs, with 82% of small businesses failing due to poor cash flow management. Many entrepreneurs lack the necessary financial skills and funding to support their business expenses. Fintech is playing a crucial role in addressing these challenges and changing how small businesses manage cash flow. Fintech tools and lending solutions help entrepreneurs access funding, automate financial processes, and make informed financial decisions.
Fintech lending also offers soft credit pulls, reducing credit rating concerns. Invoice factoring allows small businesses to sell receivables to lenders, ensuring cash flow. Crowdfunding platforms provide alternative financing options and help businesses connect with potential customers. Fintech lending empowers small businesses to overcome cash flow challenges and fuel growth and expansion.