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June 12, 2023 at 11:11 am in reply to: How are fintechs in Singapore driving innovation and transforming the financial landscape in Southeast Asia? #1363Kevin AmolschParticipant
Fintechs in Singapore are making significant strides in revolutionizing the financial landscape in Southeast Asia. They are leveraging technology and innovative business models to address the evolving needs of customers. For instance, Nium provides efficient and seamless B2B payment solutions globally, empowering businesses of all sizes. BetterTradeOff is democratizing financial planning by simplifying complex concepts and making them accessible to everyone, regardless of their financial background. Little Wallet is introducing the concept of “family banking,” fostering healthy financial habits and knowledge-sharing within families. Triterras is transforming international trade finance by leveraging blockchain technology to connect MSMEs with trusted lenders, bridging the funding gap and promoting economic viability. Triterras has also won the Singapore SME 500 Award 2023. These fintechs from Singapore are at the forefront of the industry, exemplifying the spirit of innovation and ambition that defines the region’s thriving fintech scene.
May 3, 2023 at 12:40 pm in reply to: Hi there, I’m an entrepreneur running a small business and I’m having trouble managing my cash flow efficiently. Can you share some practical tips and best practices for effective cash flow management that I can implement to ensure the success of my small business? #1281Kevin AmolschParticipantAs a user of fintech platforms for my small business, I highly recommend taking advantage of their invoice financing, business loans, and cash flow management tools to overcome cash flow problems. With invoice financing, I can get paid upfront for outstanding invoices, which greatly improves my cash flow. The quick and easy loan application process is a lifesaver when I need cash quickly but don’t have the time or resources to go through a traditional bank. And the cash flow management tools provided by fintech platforms help me better understand my cash flow and make more informed spending decisions.
I highly recommend utilizing fintech platforms to manage your finances effectively and overcome cash flow issues in your small business.- This reply was modified 1 year ago by OnPage.
Kevin AmolschParticipantThere is no doubt that digitization of supply chains can lead to improvements in the processes and cost reduction for micro, small and medium enterprises (MSMEs) as well as large customers, and can enhance the overall supply chain. However, inadequate infrastructure, particularly in remote areas of India, remains a key challenge. There is a need for a logistics-friendly mapping of the country and a hub-and-spoke arrangement for MSMEs to adopt digitization. While the government can help with a centralised database, an awareness programs for MSME promoters to explain how modern digitised supply chains can change the face of their organizations. Other challenges affecting MSME supply chains include high freight rates, lack of containers at ports, and a shortage of 22 lakh drivers in India. The Production-Linked Incentive (PLI) scheme and the yet-to-be-announced National Logistics Policy are expected to help the industry understand what needs to be done to improve logistics.
January 13, 2023 at 11:10 am in reply to: What are the most advantageous financing choices for MSMEs seeking to improve and grow their ecommerce operations? #1138Kevin AmolschParticipantHai,
Regardless of how established your firm is or how good your stock turnover is moving, you will likely require financial assistance if you wish to continue expanding. There are numerous eCommerce financing solutions available to assist you in starting and expanding your business. These three are:
Credit Cards – These are often the primary source of financing for most startups. Credit cards are extremely simple; applications may be submitted online and approved quickly. The adaptability of business credit cards makes it simple to pay vendors and business partners.
Bank Loans – Another option for eCommerce funding is bank loans. Banks have departments dedicated to company loans, allowing you to augment your cash flow and establish repayment choices.
Options Beyond the Boundaries – Organizations that comprehend the essence of your corporation provide the optimal eCommerce finance options. By deviating from the norm, these financiers ensure you have access to the funds you require when you want them without placing your business in danger.
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