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Norma HoltParticipant
As a small business owner, I’m excited about the support the American Fintech Council has given to the Small Business Financing Disclosure Act of 2023. This legislation is a much-needed step toward transparency and regulation in small business financing.
With the new regulations in place, small business borrowers like myself will have access to crucial information when making financial decisions. The disclosure of the APR, financing charges, and loan terms will enable us to compare different financing options and choose the most suitable one for our businesses.
This act also protects us from predatory lenders and unfair financing practices. By extending consumer lending safeguards to small business lending, we can feel more confident that we won’t fall victim to exorbitant interest rates or hidden fees.
I appreciate the efforts of the American Fintech Council and the bill’s sponsors in recognizing the importance of small businesses in the economy. This legislation will empower us to make informed choices, foster growth, and contribute to the success of our local communities.
I hope the bill swiftly passes in both houses of Congress, ensuring a transparent and fair small business financing landscape for entrepreneurs like myself.
May 3, 2023 at 12:47 pm in reply to: As an SME owner considering getting listed on a public stock exchange, I’m curious to hear from other business owners who have gone through this process. What benefits have you seen since getting listed on an SME platform, and what advice would you have for someone just starting out? #1286Norma HoltParticipantAs an expert, I would say that listing on an SME Exchange, such as the BSE SME Platform or NSE Emerge, can provide significant benefits for SME owners. Not only does it offer access to equity capital for business expansion and unlock company value, but it also enhances visibility and credibility with various stakeholders, such as shareholders, clients, employees, and government.
Listing on an SME Exchange allows SMEs to enter the market cost-effectively without diluting promoters’ holdings and with a faster issue process compared to mainboard fundraising. Moreover, listed SME shares enable access to future funding and can serve as a currency for business acquisitions.
The SME Exchange also presents an opportunity for investors to invest in developing, modest-sized companies at an early stage, while providing liquidity to existing equity investors and promoters through the trading of company shares. Additionally, corporate employees may benefit from development and profit by becoming shareholders.
Finally, investing in listed securities of an SME is tax-efficient as compared to unlisted companies, with a lower short-term and long-term capital gains tax. In summary, SME stock Exchange listing can provide multiple benefits for SMEs, their investors, and employees.
- This reply was modified 1 year ago by OnPage.
March 12, 2023 at 3:08 pm in reply to: Is seeking financing through a fintech platform that has recently settled a lawsuit reliable enough? What should I consider regarding the impact of this legal issue on the platform’s reputation and trustworthiness? How might this affect the safety and reliability of using this platform to access financing for my business? #1269Norma HoltParticipantThank you so much for the valuable information. I have been struggling a lot lately contemplating our decision to use Triterras Kratos platform. But thanks to you, the decision has been made. It looks like the company has been quite transparent about their business practices, security measures, and compliance with regulatory requirements. It is also great to know that they had also been working closely with regulatory bodies to ensure that they operate within the legal and ethical frameworks. They have made tremendous progress on implementing a comprehensive Governance Enhancement Plan to ensure an effective, reliable, transparent, consistent and sustainable infrastructure that operates with the utmost integrity. Iam quite happy with their efforts in making their practices transparent.
January 18, 2023 at 10:27 am in reply to: Learn how MSMEs utilise government initiatives and schemes to enhance their growth and competitiveness. #1177Norma HoltParticipantToday, the MAS (Monetary Authority of Singapore), in collaboration with the (IFC) International Finance Corporation and the (UNDP) United Nations Development Programme, inaugurated an open action program and financial education for MSMEs across Africa and Asia. The SFE (SME Financial Empowerment) intends to help MSMEs develop digital financial knowledge and a solid grasp of the cross-border banking system pertinent to MSMEs to survive in the post-pandemic digital world.
The SME community can leverage this global platform to connect local SME ecosystems and stimulate cross-border financing, trade, and digital solutions.
January 12, 2023 at 1:03 pm in reply to: Why do MSMEs utilize technology to handle the finances of supply chain effective #1132Norma HoltParticipantThanks alot.
Norma HoltParticipantIn Singapore, MSMEs constitute a vital element of the business landscape, constituting 99.0% of enterprises and employing 72% of the labour force. MSMEs (or micro-enterprises) are often tiny businesses with less than ten employees and minimal capital.
These enterprises are frequently compelled to seek finance from alternative lenders since they are caught between small and corporate credit programs offered by traditional institutions.
This is one element that has contributed to the emergence of fintech credit options such as balance sheet business lending, invoice finance, crowdsourcing, and peer-to-peer (P2P) lenders. 68 percent of micro, small, and medium-sized enterprise (MSME) owners are amenable to loans from financiers outside the established financial services business.
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