Latest news with #businessfinance
Forbes
20-07-2025
- Business
- Forbes
Why Business Financial Literacy Is The Secret To Making More Money
Notebook with marks about financial literacy. Chances are you started your business to create freedom, impact, and wealth. But here's what many entrepreneurs learn too late in the game: if you don't understand your numbers, your business will never reach its full earnings potential. Your business is a financial asset that can make you a lot of money, so you want to know business financial literacy. Business financial literacy isn't about becoming an accountant or spending hours buried in spreadsheets. It's about knowing where your money comes from, where it's going, and how much is left as profit. Business financial literacy helps you make smarter, more profitable business decisions. When you understand what your numbers are telling you, you can confidently manage your business through profitable pricing, expense management, sales, and knowing that you don't have a constant fear of running out of cash. What Is Business Financial Literacy? Business financial literacy skills help you understand and manage the financial health of your business. It's knowing how to read your profit and loss statement, track cash flow, create and follow a monthly budget, and use your financial data to help you make smarter and more profitable business decisions. It's learning the language of money that helps you spot opportunities and make decisions that directly lead to more profit. A common misconception is that financial literacy is only important to accountants and financial people. Many small business owners also think that they can put off financial management or figure it out later after they grow their business or make more money, but financial literacy skills will help you get there faster. Without this skill, you are guessing at prices, unaware of hidden costs, and risking the stability of your business. When you have business financial literacy skills, you're in control of your business. You can confidently plan, grow, and pay yourself what you deserve. Why Business Financial Literacy Is The Secret To Making More Money Financial Illiteracy Is Expensive Not understanding your business numbers can leave you making decisions based on gut feelings over data and facts, and that is risky. You could be undercharging your offer and losing money, or you could hire too quickly with the assumption that your revenue is growing, only to face a cash shortage shortly down the road. The biggest threat to a business is running out of cash. This can happen even when sales are strong, because revenue does not equal cash flow. You need to have a handle on your numbers to understand your cash flow. The hidden cost of financial avoidance can add up fast. Without financial clarity you might overspend on items that don't give you a return on your investment. Guesswork doesn't cut it in business and every financial misstep caused by financial uncertainty chips away at your profit and confidence. The Connection Between Confidence and Cash Flow Financial confidence comes with financial clarity. When you know your numbers, you are no longer guessing in your business. You make informed decisions that lead to profit. You make decisions based on financial data. Financial literacy empowers you to expand your product line, launch into new markets, negotiate better deals, secure funding, and so much more. When you understand your profit margins and cash flow, you can confidently invest in the growth of your business. How to Improve Your Financial Literacy (Without Overwhelm) Improving your financial literacy doesn't have to feel overwhelming. You can start with a few simple habits and tools, you can build the knowledge and confidence needed to make smarter, more profitable decisions. Here are four practical ways to begin: Focus on your profit, cash flow, and sales targets. These three numbers give you a clear picture of your business's financial health and help you make smarter, more profitable decisions. Review your financial statements, even if it's just your profit and loss (P&L) statement. Regularly checking your numbers will help you identify trends, spot problem areas early, and plan for growth. If you're unsure how to interpret your numbers or set financial goals, a fractional CFO or coach can help you create a strategy to increase profit and stability. There is financial software that can automate tracking, send alerts, and provide actionable insights so you always know where your business stands financially. The bottom line is that financial literacy is one of the most powerful business skills you can have as a business owner. When you understand your numbers you gain financial clarity, confidence, and control over your financial future. Start with small steps, stay consistent, and remember that every number you track brings you closer to building your wealth and financial freedom.
Yahoo
19-07-2025
- Business
- Yahoo
Can't get a business loan? This new credit card might change that
Entrepreneurs and prospective business owners looking for ways to finance their budding companies often run into a problem: Their personal credit scores are low—which makes it difficult to access the loans they may need to lease a storefront or buy equipment. A solution may be on the way. This new tax deduction in Trump's 'big, beautiful bill' lets people cash in on charitable donations up to $2,000. Here's what to know These are the 3 best questions to ask at the end of your job interview Southwest Florida's housing market is undergoing a material home price correction—here's why Fintech company Nav is launching new features to its signature credit card to help entrepreneurs build their personal and business credit simultaneously. The card—called the Nav Prime Card—is designed to help small-business owners get their operations off the ground. Many of those entrepreneurs rely on their personal credit, at the very early stages, to get those operations going. As such, it's a product designed for 'Main Street' small businesses rather than for startups or those seeking venture capital or investor financing. The Nav Prime Card itself launched in 2023, while the features that allow for simultaneous credit-building (which are optional) will be launching this summer. In effect, the Nav Prime Card helps those small-business owners build their own credit scores and the credit profile of their businesses at the same time, and there's nothing else like it on the market, says Nav's CEO and cofounder Levi King. A credit product born of small business experience 'The whole thing was born from my experience as a small-business owner. I started out fixing electric signs,' King says. He recalls the setbacks he encountered while trying to acquire equipment for his company—such as a truck—due to his business's thin credit profile, not to mention his personal credit score not quite cutting it for lenders. So, the idea was hatched to help small-business owners in similar situations get access to the credit they need, and to boost their personal and business credit profiles. 'When you start a business, the credit bureaus have a record that you exist, but you'll appear 'high risk' because you're brand new and have no credit history,' he says. So, Nav developed the Prime Card, creating something that didn't yet exist, and in sort of a gray area that many other fintech companies weren't paying attention to. 'I could see the opportunity before other people,' King says, referring to his days operating an electrical sign business. 'If you're in Silicon Valley, you get an MBA at Stanford; you're not looking at small businesses. My background as a small-business owner helped me see a future that others couldn't.' A big potential impact There's a large potential pool of customers, too, who could be interested. Nav cites data that shows almost 70% of small-business owners have a credit score below 670. And people are starting businesses like never before—the most recent Census Bureau data shows that almost 5.5 million new businesses were launched in the U.S. during 2023, which is an increase of almost 57% from 2019. So far, King says that the people who have tried the card 'love it.' Investors love it, too. Randy Komisar, a member of Nav's board of directors—and a Silicon Valley heavyweight who founded Claris and TiVo, and was a former CEO at LucasArts Entertainment and Crystal Dynamics—says that King's vision presents a big opportunity and solves a real problem for small businesses. 'I want to use the power and resources available to me to try and solve this problem: How can we make the small business sector stronger and more viable, and use technology to help?' Komisar says. 'When Levi came to me with his idea, I saw it as an opportunity to have a similar impact to Intuit—for what Intuit did for bookkeeping.' While it's unlikely that Nav will grow to the mammoth scale of a company like Intuit, Komisar believes the company's future is bright, as it aims to address 'real' problems for small-business owners. 'I'm very enthusiastic about a plan that uses credit information to allow small businesses to manage their growth and sustainability in a way that they're ill-equipped to do with the tools today,' he says. This post originally appeared at to get the Fast Company newsletter: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Wamda
18-06-2025
- Business
- Wamda
Swypex rolls out spend control card in Egypt
Swypex, Egypt's all-in-one financial management platform, has unveiled the country's first Approval-Based Limits Card, an innovative product designed to modernise how companies manage spending. Available exclusively through the new Swypex Premium subscription, the card introduces dynamic spend limits that unlock only after transactions are reviewed and approved, which gives finance teams real-time visibility and precise control. Mimicking the operational dynamics of petty cash management, the Approval-Based Limits Card acts like a rotating balance, ensuring that no employee's spending exceeds what's been approved. This approach replaces fragmented, manual processes with an automated, policy-enforced financial governance system that drives operational efficiency. 'Egyptian businesses want control without friction, and this card gives them exactly that,' said Ahmad Mokhtar, Co-Founder and CEO of Swypex. 'Approval-Based Limit Cards bring a new standard of precision and agility to business finance. It's the bridge between old-world cash management and seamless, secure corporate spending. This card empowers companies to shift from chasing expenses to controlling them with clarity, speed, and confidence,' he added. Swypex's launch comes as Egypt undergoes a rapid transformation in its financial infrastructure. While more than 74% of adults are now financially included and mobile wallet adoption continues to grow, 94% of business payments remain undigitised, leaving businesses exposed to risk and inefficiency. Swypex is addressing these challenges with local-first solutions that meet global fintech standards. The Approval-Based Limits Card is part of Swypex Premium, which helps businesses unlock their full potential with the most comprehensive financial management platform in the market. The subscription also includes unlimited cashback, dynamic spend controls, and custom approval workflows. 'We build products that specifically cater to the needs of the local market while pushing boundaries and spearheading innovation in the region,' said Tarek Mokhtar, Co-founder and Chief Product Officer. 'From fast-growing SMEs to complex enterprises, Egyptian businesses need financial infrastructure that's powerful, simple, and scalable. That's why we designed Swypex Premium as more than just a tool but rather a comprehensive financial operating system. With advanced spend controls and approval workflows developed to integrate with existing financial processes, we're not just digitising finance; we're fundamentally reshaping how it works in Egypt's evolving economic landscape,' he added. Backed by a $4 million seed round led by Accel, the VC firm's first fintech investment in MENA, and licensed by the Central Bank of Egypt, Swypex is setting a new benchmark for how businesses handle finance. Its all-in-one platform consolidates payments, invoice management, smart corporate cards, and financial workflows into a unified, intuitive system designed to scale with growing companies. Opening an account takes just three minutes.
Zawya
03-06-2025
- Business
- Zawya
Mamo crosses AED 1.2bln in total payment volume
Dubai, UAE - Mamo, the UAE-born fintech building the future of business finance, today announced that it has crossed AED 1.2 billion in total payment transaction volume. The milestone marks a major step forward in the company's mission to simplify financial operations for businesses in the region. Founded with the goal of empowering businesses through simpler, faster, and more transparent financial tools, Mamo has rapidly grown into a trusted partner for thousands of businesses across the UAE. ' Reaching AED 1.2 billion in total processed volume isn't just a number - it's a reflection of the trust our customers place in us and their pressing need for better financial tools ', said Imad Gharazeddine, co-founder and CEO of Mamo. ' Our vision is to become a one-stop financial management platform for businesses - offering everything from payments to expense management, and credit. ' Following the success of its core payments and business wallet products, Mamo is expanding its offerings to support the full financial life cycle of a business. In the coming months, the company will launch a Mamo-branded credit card designed specifically for growing businesses, providing flexible access to short-term credit, real-time spend insights, and seamless integration with Mamo's dashboard. Mamo's growth reflects a broader shift in the region toward smarter, founder-friendly financial infrastructure. With legacy payments infrastructure often falling short of the needs of modern businesses, Mamo's agile and tech-first approach has resonated deeply with the UAE's entrepreneurial ecosystem. As it continues to scale, Mamo remains focused on key pillars: trust, simplicity, and financial empowerment. With the AED 1 billion milestone crossed, the company is doubling down on innovation to help businesses save time, reduce costs, and grow with confidence. About Mamo Mamo is a UAE-based fintech company that helps hundreds of businesses save time and costs by automating payment collection and corporate expense management through a single platform. In 2022, Mamo became the first fintech startup licensed by the DFSA with a Category 3C Providing Money Services license. For more information about Mamo and its services, visit
Zawya
29-05-2025
- Business
- Zawya
Aspire Integrates with Stripe to Help Businesses Get Paid 2x Faster
Aspire users can now offer credit card payments for invoices and through payment links, providing greater flexibility, ease and convenience to their customers. SINGAPORE - Media OutReach Newswire - 29 May 2025 - Aspire, the leading all-in-one finance platform for businesses, has integrated with Stripe, a leading global financial infrastructure platform to offer businesses more ways to receive payments—faster and seamlessly. This empowers businesses across Asia with more flexible payment solutions, allowing them to receive payments globally through credit and debit cards, Apple Pay, and Google Pay. Financial flexibility is a top priority for businesses, particularly in the B2B space, where payment cycles can often be lengthy. With the rise in adoption of virtual cards, 64% of businesses expect the ability to pay for their purchases online. Research shows that businesses that do not accept card payments experience an average revenue loss of 4.6%, highlighting a critical need for diverse payment options. Aspire's integration with Stripe aims to address this key gap by allowing Aspire users to enable credit card as well as local payments like Google Pay, Apple Pay, GrabPay, and WeChat Pay from customers directly for invoices and through payment links. This enables businesses to provide flexibility, convenience, and an overall easier payment experience for their customers. Additionally, new businesses can start accepting card payments immediately via Aspire, eliminating the need to invest in building a website or setting up complex payment infrastructures. Furthermore, the integration significantly improves settlement times. Aspire customers will now be able to access their funds as fast as three days, compared to the standard seven days. This enhanced speed and flexibility allow businesses to better manage cash flow, maintain financial stability, and reinvest in their operations with confidence. 'At Aspire, we are constantly looking for new ways to help businesses grow faster and operate more efficiently,' said Andrea Baronchelli, CEO and founder of Aspire. 'This partnership with Stripe aims to address two critical pain points – speed and flexibility. Together, we are removing the friction of money, empowering businesses to focus on what they do best: growing and scaling their operations.' ' Small and medium businesses make up over 97% of all businesses in APAC and are the lifeblood of any country's economy. Working together, Aspire and Stripe helps ensure that SMBs fully benefit from cutting edge technology to enjoy seamless and flexible payment solutions that accelerate their cashflow, so they can succeed in today's competitive landscape,' said Paul Harapin, Stripe's Chief Revenue Officer in Asia Pacific. This marks a significant step towards Aspire's mission to empower global businesses with the financial tools they need to thrive in the digital economy. By integrating Stripe's advanced payment technology, Aspire continues to strengthen its all-in-one financial platform, making it easier for businesses globally to manage payments, improve cash flow, and scale operations effortlessly. For more information on the Aspire-Stripe integration, visit Hashtag: #aspire The issuer is solely responsible for the content of this announcement. Aspire Aspire is the all-in-one finance platform for modern businesses globally, helping over 50,000 companies save time and money with international payments, treasury, expense, payable, and receivable management solutions - accessible via a single, user-friendly account. Headquartered in Singapore, Aspire has 600+ employees across nine countries, clients in 30+ markets and is backed by global top tier VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal. In 2023, Aspire closed an oversubscribed US$100M Series C round and announced that it has achieved profitability. Aspire
