While opening and operating a small business is a commendable feat in both the pre- and post-coronavirus world, inherent systemic fiscal roadblocks can make it difficult for a small business to flourish in the same way a large, financially booming corporation can easily do.
Still, according to the most recent U.S. Census, small businesses make up some 99.9 percent of all companies within the borders of the United States – a statistic similarly reflected in Europe, Australia and across the world – leading to a major need to level the playing field. Armed with a solution in hand is market leading platform BizPay, who’s innovative buy now, pay later invoice model has given small enterprises the opportunity to contend with large companies unlike ever before.
As smaller businesses generally have their money tied up within the enterprise, access to adequate funds to hire the best of the best of service providers can be next to impossible, forcing them to instead go with lower quality providers and subsequently diminishing their own business’s potential. This has only been exacerbated by the impact of covid, which has added further hurdles to overcome like delaying the already lengthy loan process with banks and other financial institutions.
This is where BizPay comes in: using its state-of-the-art artificial intelligence, small businesses can gain instantaneous approval for credit with BizPay and begin sourcing high quality service providers near-immediately, to be paid back over the course of four months at a very small nominal. Thanks to BizPay, small and mid-size businesses are finally brought up to speed with the evolving digital economy and able to hold their own against the larger competition.
“We find people are much more cognoscente of making sure they are paying for real quality,” said BizPay’s CEO David Price. “At the same time, cash flow issues have been further exaggerated for most companies. So, during covid, there has been even more demand for BizPay for these reasons.”
As service providers likewise experience a major boost in conversion rates and transaction sizes by offering invoice payment via BizPay, all parties involved win by using the innovative payment solution. Providers can also say goodbye to waiting months for their own invoices to be fulfilled, since BizPay ensures payment for services rendered to be completed within 24 hours of using the platform.
With preparations for an IPO in 2022, BizPay is set to keep giving small to mid-sized enterprises the chance to thrive at an even larger rate, acting as a key player in balancing the scales of the business world toward competitive equity.
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