FINANCE

Fintech Lending Trends Transforming the Small Businesses

Sneha Hull | May 13, 2022 | 5 views

Fintech Lending Trends Transforming
Fintech lending trends are enabling small business owners to access fresh funding through AI, machine learning, and big data. Fintech is a fast-growing section of the financial industry, yet little is known about its performance. For an extended period, borrowing from banks was difficult for startups, small companies, and entrepreneurs; however, the expansion of industry and Fintech solutions has prompted lenders to assist small businesses using the newest AI and data analytics technologies.

“Many of the processes associated with running an SMB have traditionally been very paper-based, difficult and slow. But with the advent of new technological solutions, all of these processes will be transformed.”

- Karen G. Mills, a senior fellow at Harvard Business School and author of the book Fintech, Small Business & the American Dream: How Technology Is Transforming Lending and Shaping a New Era of Small Business Opportunity.


The global financial industry is predicted to reach US$26.5 trillion in 2022, growing at a 6% compound annual growth rate. (The Business Research Company, 2020)

From 2021 to 2025, the worldwide Fintech market is expected to increase at a CAGR of 23.58%. (Research and Markets, 2020)

Small companies encounter a few significant challenges when it comes to financial management. Let us take a quick look at a few of them.


Pain Points for SMEs

Bank lending is frequently constrained because it takes more time and knowledge to comprehend small businesses than to grasp more standardized consumer enterprises. Also, due to the smaller loan amount, the typical relationship-based corporate banking model is expensive when dealing with small enterprises.

Frequently, small businesses lack the required information, such as a history of audited financial statements, for banks to accurately analyze their cash flow position. In addition, banks are reducing their exposure to small firms due to regulatory requirements.


Future of Fintech: B2B Lending

By reorienting customer expectations, Fintech lenders have changed the future loan ecology. Fintech loan approval enables businesses to grow their assets, employment, and sales. Financial technology adoption is critical for small business growth and results in a greater return on investment.


What’s Changed in B2B Lending Fintech?

Offline businesses have historically relied on traditional financing, but online enterprises have always relied on equity. There are several trends that organizations should monitor, including the following:

  • Cross-Border Payments
  • B2B Lending Solutions
  • Conversational Artificial Intelligence
  • Accounts Payable Automation
  • Electronic B2B Payments
  • Smart Contracts
  • BlockChain

Emerging Fintech lenders are addressing this issue by doing more sophisticated creditworthiness assessments using real-time analysis of more data inputs. OnDeck is one such fintech lender. In addition, it uses machine learning to determine the creditworthiness of small enterprises.


Debt vs. Equity in Financing Your Business

Things with a return on investment of less than one year may make sense to finance using debt, as the return will be reasonably soon. On the other hand, it makes sense to fund long-term investments through stocks.

Direct debt is a relatively new phenomenon in the world of Fintech firms. However, Fintech firms have various financing options, and depending completely on debt may be a sensible financial decision.


How Can Businesses Take Advantage of Fintech Innovations?

"In order to achieve the most from Fintech opportunities, companies in financial services need to treat Fintech innovation as a mainstream activity — and incorporate it within and across their entire organization."

-  Tek Yew Chia, Fintech Leader for KPMG in Singapore.

Fintech organizations use AI and machine learning to automate manual processes such as risk modeling and credit decisioning. The adoption of Fintech solutions is having a profound effect on business operations. The following are the top three

reasons why small and medium-sized businesses should invest in Fintech services:
  • The scope of its capabilities and features
  • The services are available for 24 hours a day
  • The service's simplicity of installation, configuration, and use

According to Weforum research, equity investment in FinTech startups doubled from $4 billion to more than $12 billion between 2013 and 2014. Due to the efficiency and effectiveness of FinTech solutions on a smaller scale, small firms will be one of the primary beneficiaries of FinTech's disruptive impact. Numerous firms benefit from enhanced, innovative Fintech solutions; here are a few highlighted examples.


Reduced Costs

Through the use of Fintech, the integration of physical and digital payment methods has been consolidated by combining bank account cards and client ids. This strategy enables organizations to operate more efficiently and at a lower total cost. Financial technology makes it possible for companies to send and receive money in different currencies without having to pay a lot in conversion fees. This speeds up the process of Fintech lending.


Compliance and Security

Many users disagree that Fintech Lending is secure. However, Fintech solutions are far more secure and safe than traditional banks. In addition, Fintech companies frequently invest heavily in their security infrastructure, both online and off. As a consequence, clients have confidence in the security of their data. Regulatory actions assure sound finances, governance, risk management, and compliance capabilities, therefore minimizing threats to the public safety net and potential harm to customers. Fintech firms do adhere to these regulatory requirements.


Increased Transparency

With the widespread use of Fintech in traditional banking, the phrase "transparency" is no longer a buzzword. Transparency in the payment sector also entails providing better visibility on payment timelines and outlining the path a customer's money will take during the payment journey. International payment solutions are redefining how the worldwide remittance process is seen. Notifying customers at critical points in the payment process, such as when money is received from a client and when it reaches a beneficiary's account.


Overview of a Provider


Amazon

Amazon Lending was formed in 2012 to extend finance to small businesses selling on Amazon. Amazon's internal algorithms choose vendors based on data elements such as merchants' frequency of out-of-stock situations, the popularity of their items, and inventory cycles. Amazon provides retailers with three- to six-month loans ranging from $1,000 to $600,000 to assist with inventory purchases. According to reports, the firm charges up to 13.6% yearly interest rates.


Conclusion

Fintech has the potential to significantly and sustainably change small business finance, hence stimulating economic development. Furthermore, by integrating into the Fintech ecosystem, small businesses may access a variety of previously unavailable options.

Disrupting the closed-door world of traditional financial institutions and mainstreaming alternative, technology-driven solutions creates a new industry while also enabling more entrepreneurs to start and grow their businesses.


FAQ


How is Fintech impacting the business?

Fintech is transforming payment processing, money transferring, funding, accounting, and e-commerce. It helps businesses improve the process and create operational efficiencies.


Why is Fintech so popular?

Fintech helps businesses gain a share of online and offline markets, increase the customer base and achieve ambitious business goals.


Which technologies are utilized in Fintech?

There are some critical technologies in the focal point of discussion: Blockchain, Artificial Intelligence (AI), Security, the Internet of Things (IoT), and the cloud.

Spotlight

Sutra Services Pvt. Ltd.

SutraHR (www.sutrahr.com) is one of Asia's fastest growing HR companies. We aspire to be amongst the top three HR companies based out of India in the next two years. Our aim is to become a highly experiential and inspiring HR brand. SutraHR works with companies in the e-commerce, mobile, and new-age technology space, where companies go from zero to billion dollars in less than five years. Being a market leader, we have a massive advantage of revolutionizing the HR scene in India. SutraHR is a multi-million dollar enterprise having a strength of 100+ employees and gunning for 250+ employees in a year's time.

OTHER ARTICLES
INDUSTRY OUTLOOK

How to Calculate the Growth of a Company and Improve It?

Article | April 12, 2022

“Growth is never by mere chance; it is the result of forces working together.” - James Cash Penney, founder, JC Penney Is the growth of your company healthy? If you are looking for an answer to this, you must measure its growth. Small business growth can be measured by using different types of metrics. However, effective business management demands meticulous planning and strategic judgments based on your organization's past performance. Assessing your company’s growth rate gives you an understanding of the current state of your organization. It also allows you to plan for the future and effectively allocate limited resources to your small business. In this article, we will discuss how to calculate the growth of a company and the ways to improve it. What Is Company Growth Rate and Why Is There a Need to Measure It? A company’s growth rate measures how a particular variable has changed over a specified period. Growth rates are frequently used to refer to the compounded annualized rate of growth of company revenue (CAGR), earnings, dividends, and even macroeconomic variables such as gross domestic product (GDP) and retail sales. The primary objective of a company's growth rate is to illustrate the company's current state and influence future planning. Rapid growth rates help you keep your success going, whereas slow growth rates highlight areas for improvement. The growth rate can be calculated on a weekly, monthly, or yearly basis, depending on the industry and the development stage of the business. It may be computed at any business growth stage, provided the firm or investor has the necessary data. It is important to calculate the company’s growth rate to evaluate how profitable and sustainable it can be. Key Factors for Calculating Growth of a Company Calculating the growth rate enables you to have a better understanding of your company's current situation and plan more effectively for the future. The true challenge, however, is how to determine the growth rate of a business. For instance, if you want to compare overall sales growth from Q3 last year to Q3 this year, you'll need the relevant revenue figures for both the quarters. The company growth rate formula is: Total revenue growth = [(current period revenue - previous same period revenue) / previous same period revenue] x 100 Define Your Business Goals and Gather Data Based on the Goals The first step in measuring your business's progress is setting your objectives. Companies can focus on various growth metrics, including revenue, increased sales, profitability, and an increased client base. Having a realistic approach will help you succeed. Data must be collected to achieve the goals after the organization has determined it. Collecting more data can help track business growth more accurately. Additional data can also assist in identifying and resolving possible business difficulties. Evaluate Sales and Earning As a small business owner, the first things that you will consider are sales and revenue generation. Therefore, a steady increase in money earned from commercial activities is an important indicator to keep an eye on. The focus should be on boosting earnings after determining the core sales figure. Various factors impact earnings, such as operational costs, financing, assets, and liabilities. Analysts frequently want a continued rise in earnings per share (EPS). A company with a high EPS is considered more profitable — a regular review of sales and profits assists in forecasting the growth rates of the business. Compute Revenue Growth Revenue growth is one of the easiest ways to track a business's progress over time. The compounded annual growth rate (CAGR) is used to calculate growth. This computation helps quantify growth over extended periods, such as five, ten, or twenty years. Let’s have a glance at the formula used to calculate the compound annual growth rate. The formula for CARG is: FV / PV)1/t – 1 = CARG However, you need to follow certain steps while calculating the compound annual growth rate: Divide the investment's ultimate value by its original value Increase the results by one divided by the number of years in the investment term Subtract one from the preceding result Use the trailing twelve-month figure to obtain the most up-to-date results. Benchmark Your Company Against Competitors While growth is critical within your organization, comparing growth to your competitors’ helps determine success in your domain. If you build your reputation in the market, you will get more clients and expand your business. You can obtain competitors’ data through various digital channels such as websites and social media platforms and compare it to your own. In addition, you can get more information from news stories, trade journals, or media coverage of your competition. It gives you valuable insight into your industry's competition and helps you expand your market share. How to Improve Business Growth? The growth of a company is the top priority for small businesses. After all, growth and expansion create additional revenue prospects. Enterprises expand as a result of continuously refining and adjusting procedures throughout their operations. The following are a few ways to make your small business more efficient, which leads to a faster growth rate for your business. Improve your conversion rate: You can increase revenue by improving your conversion rate. Only a small percentage of people who are introduced to your product or service end up buying it. Create a sales funnel: After creating a classifieds-based sales funnel, you'll be able to identify and target the stages during which the majority of clients decide not to move elsewhere. In addition, by establishing a proper channel, your clients will be able to observe how they are now engaging with your organization, which will make transactions less risky and time-consuming. Improve customer retention: Having a loyal consumer base helps you expand your business. A retention rate is the percentage of customers that continue to use your product over time and make repeat purchases. A CRM framework can aid you in maintaining control over client relationships. Conclusion It is important to measure the growth of a company regularly. Regular calculations help company owners maintain records that provide valuable insight into their business's performance, development, and expansion. Additionally, it ensures they expand at a rate, consistent with their established goals. FAQ: How do you calculate company growth? You can calculate company growth by: Defining the settings and collecting your data Subtract the revenue from the previous period from the income for the current period Divide the difference by the revenue for the preceding quarter How do you calculate the future growth rate of a company? Calculating the growth rate can be achieved by dividing the difference between the end and start value under consideration by the start value. Growth rates give insight into a firm's success and may be used to forecast future performance. What is the formula to calculate growth? Total revenue growth = [(current period revenue - previous same period revenue) / previous same period revenue] x 100

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MANAGEMENT

Know the Why’s and How’s of Small Business Registration

Article | April 1, 2022

“Do I need to register my business?” “How do I go ahead with my small business registration?” These are some of the most commonly asked questions. Business registration is the first step toward publicizing your enterprise. Establishing a business and the registration requirements may vary according to the firm type, size, and stage of business development. To protect the legal security of both your personal and commercial assets, you must register your business with the government. It is not necessary to register if you run a business under your legal name. However, business registration is strongly recommended to prevent losing out on personal responsibility protection, legal perks, and tax benefits. Let's delve into the specifics of how to register, what are the registration requirements, and why it is necessary. Pre-business Registration Requirements Before you register, there are a few small business registration requirements that must be considered. Identify Your Business Structure Several business structures are available, each with its own set of expenses, risks, and tax ramifications. Your priorities determine the business structure you choose as a business owner. The design of your firm will determine: The processes for registering your business and paying your taxes As a business owner, you bear financial responsibilities. Your ability to obtain loans and other forms of financing from banks and other sources There are different types of business structures you can opt for, each having its own set of advantages and disadvantages. This includes sole proprietorship, general or limited partnership, corporation (or C-Corporation), limited liability company (LLC), and limited liability partnership (LLP). The business structure you pick has a significant impact. This section provides an overview of some of the most used company structures. Sole proprietorship: This is an example of a standard business structure. If you conduct a business without establishing a business structure, you are regarded as the sole proprietor. Partnership: This is the business structure for two or more individuals who co-own a business. Limited Liability corporation: This business structure enables the proprietor to safeguard personal assets against the firm's liabilities. C-Corp: This structure separates the business from the owners and provides the greatest security for an owner's personal assets. Pick A Business Location Choosing a business location or address requires careful consideration. The business registration process and business taxes vary by state. The type of business you conduct determines your firm’s location. Some questions you need to ask yourself: Will your firm provide a service, sell things, or both? What is your target audience? Can you afford the rent, utilities, and other business-related costs at that particular location? Will the staff, suppliers, and consumers be conveniently accessible? Selection of a business location is an important deciding factor in small business registration. Pick Your Business Name Selecting an appropriate business name is a critical step in the business registration process after selecting the company location because it helps register a business name. A legal name or brand name can depend on your firm's structure and location in the United States. It would be best if you found answers to a few of the below questions: Is the name straightforward and distinct? Is the domain name still available for registration? Is the name appropriate for your business and brand? Is the company name already in use? How to Register Your Business? Register Your Business Name “How do I register my business name?” This is the first and foremost question that comes to the minds of business owners. You can register your legal name as your business name by filing paperwork such as articles of incorporation or articles of organization at the state level. However, documentation requirements vary according to the business structure and location. If you use your brand name instead of your legal name, there are some jurisdictions that might require you to register under a DBA (doing business as) name. Here is one example: Kat launched a business with a vintage clothing line. She formed an LLC and registered "Kat's Vintage Resale, LLC." The concern here was that the LLC does not reflect her store's branding; she would prefer to operate under the name "Kat's Vintage Resale." In this case, she can file for a DBA name. Once your DBA is registered with your state or county clerk, the name becomes inaccessible to others. However, it may be used to execute contracts and establish a company bank account. Register with the Internal Revenue Service (IRS) Internal revenue service (IRS) business registration is required to receive an employer identification number (EIN). It helps you recruit staff and open a business bank account. As a result, this registration step is deemed critical. For tax purposes, the EIN is used in the same way as a social security number. If you own a small business as a sole proprietor, you do not always require an EIN. However, it is advisable that you register with the IRS and receive an EIN to take advantage of the benefits that come with it. Apart from this, it also includes the following: Increases business credibility helping you to enrol vendors, suppliers, and creditors Ability to apply for government contracts Obtain Business Licenses/Permits You may need to obtain certain federal, state, or local business licenses or permits. The licenses you need will depend on your company’s structure. A business license is a vital document that allows you to run your firm. As a business owner, to receive a license as a business owner, you must register. Licenses are generally granted after thoroughly inspecting them. Most small enterprises require a mix of federal and state licenses and permits. All the above steps are important in registering businesses and should be seriously looked into. Why Do You Need to Register Your Business? "Do I need to register my business?" It depends on the type of firm you have, its location, and sector. Business registration benefits the firm in a number of ways, from providing an advantage in the marketplace to securing its legal stability and from reducing tax liabilities to limiting liability. Moreover, registering businesses brings numerous advantages. Some of them are as follows: It ensures that you comply with applicable federal, state, and/or local laws By registering a trademark, you can safeguard your business's unique logo and brand identity against infringement Can prevent the legal hassle It enables you to exert control over how the government perceives your firm Conclusion Small business registration has a significant role to play as it offers numerous benefits. Now that you know why and how to proceed with small business registration, go ahead and register your firm. Once the registration procedure is completed, your business will be regarded as a legal entity. Registration will ensure the hassle-free, smooth, and seamless operation of a business and its growth. FAQ Why is business registration important? Registration of a business is important for the formation of a brand identity. Additionally, it helps to build a brand reputation among consumers and stakeholders. What are the advantages of registration? The biggest advantages of registration are: Legal entity Limited liability Getting loans What is business registration? Registration of a business entails submitting an application with pertinent information about the enterprise. Thorough research to ensure no one else is using the same name.

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BUSINESS STRATEGY

Small Business Owner Titles – Pick The Right One

Article | March 30, 2022

“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” - Jack Welch, Chairman and CEO of General Electric (1981-2001) What's in the name? This is the most common mindset that many small business owners have. However, choosing an appropriate small business owner title for your role can help you establish yourself as a leader among your clients and consumers. When selecting titles for small business owners, make sure titles align with business aims and objectives. Your business title should undoubtedly represent the kind of responsibilities you hold in an organization. Once your business expands and scales, it is critical to focus on narrowing your duties and getting your business to the next level. Therefore, choosing the appropriate title enables you to establish who you are, the structure of your business, and your organization's culture. Around 80% of business success is determined by the title of the ideal business owner. (Source: BD Task) This article will help you select the right one from a long list of small business owner titles. Why Are Small Business Owner Titles Important? Determining the appropriate business job titles can be challenging for a small business owner. As the leader of an organization, you will frequently be referred to as a business owner, although this term may not accurately represent your roles and responsibilities. The small business owner job title you pick should reflect your personality and your organization's culture while also clearly indicating your affiliation to the business to customers and clients. There are several reasons why choosing the ideal small business owner title is critical for both you and your firm. Having the right title gives you and your company credibility, authority, and validity. Giving oneself a title might help you understand your obligations as your organization grows. Business position titles help your co-workers and employees understand your designation in the system and how you might support them. Therefore, titles significantly influence you and people in your immediate vicinity. Popular Titles for Small Business Owners That Make a Difference Founder This title unequivocally refers to the person who founded or created the firm, from business concepts to product or service development. The term “founder” denotes that the organization is your brainchild and you have been associated with it from its very inception. While using this title suggests who you are, it does not convey much information about your day-to-day role in the firm. As a result, the term “founder” is frequently used in conjunction with a secondary firm owner title. For instance, "Founder and Chief Executive Officer" or "Founder and Creative Director." CEO CEO is the most commonly used title in any company and it implies that you are a strategic thinker. CEOs have a holistic view of the business and have the last word before any signature move. However, the titleholder is not involved in the firm's daily operations. Often, there is an unsaid understanding that the position of a CEO is reserved for larger organizations. Small business owners wait until they reach a specific size before incorporating this position. The CEO of a corporation reports to a board of directors comprised of shareholders. The primary function of a CEO is to develop a well-established company and build a strong and large workforce. C-Suite Titles C-Suite titles are lower in the hierarchy and less formal, but they give an impression that you are at the top of the firm. Various C-level titles that highlight your roles, responsibilities, and your importance to your business's executive team. For example, Chief software developer Chief designer Chief operation officer Chief technology officer Whatever may be your key area of focus within the business organization, there is a C-level title that corresponds. A C-level is the most valuable business position title. If your primary objective is to have your title that accurately reflects your role in the organization, it is the best alternative. President If the principal goal of the small business owner’s title is to give the impression that you are in a powerful position, the title “president” is unquestionably significant. The title confers a sense of authority, power, and respect on you and ensures your words and decisions are taken seriously. If your organization does not have a board of directors, you may choose to be president, as this title does not imply that you report to the committee. Keep your corporate legal organization in mind when deciding between a president and a CEO. How Real-world Entrepreneurs Came up with Their Business Names? Reagan Jobe's position at the software startup EasyCheck includes the title "chief solver." The business title he chose established his position inside the corporation. As a result, when consumers encounter challenges or roadblocks, they know who to turn to for assistance. Another example, Paige Arnof-Fenn, who used the title of “Founder and CEO” since the inception of her marketing firm, Maven & Moguls, in 2002. Her goal was to ensure that everyone knew they were speaking with the CEO. It is a common belief that people respect the position even before meeting the individual. Tips for Choosing Small Business Owner Titles There are a few things to be considered when thinking of business owner titles as your business grows. The following are tips for picking suitable business job titles: Your title should clearly define your role in the company Ensure your title indicate that you at the top of the company hierarchy Your title needs to be aligned with your company culture Your title should be understandable to both customers and employees Choose titles according to your area of expertise The small business owner titles should be assigned considering the future needs and expertise Conclusion Find the best-suited business job titles. Evaluate how they perform for you and whether the title is appropriate for your company's culture. Using the ideal small business owner titles from the above list may shape your organization. FAQ What is the business title? The business title is also referred to as a job title. Titles usually determine an employee's status within an organization and define their roles. What is the best title for a business owner? The best title for a business owner will be CEO, the highest-ranked position in an organization. What are some business title examples? A few business title examples are: CEO President Managing Director Founder What is the top position in a company? The Chief Executive Officer (CEO) is the highest-ranking official in a company and is ultimately responsible for managerial decisions that affect the day-to-day operations.

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MARKETING AND NETWORKING

Top 4 Email Marketing Services to Invest in 2022

Article | March 28, 2022

Despite the growth of social media marketing strategies, email marketing remains the most preferred channel of communication to boost consumer loyalty. An email marketing strategy is something that you shouldn't ignore in 2022. Here are some of the top email marketing platforms. Email marketing is one of the oldest and most cost-effective forms of marketing strategy. According to the Direct Marketing Association, email generates $42 for every $1 spent, which is an astounding 4,200% ROI, making it one of the most effective options available. The comprehensive implementation of email marketing services among small businesses is due to its easy management, which gives complete control and allows direct contact with the customers. A good email marketing platform will let you: Connect with your site visitors Convert them into happy customers Build a strong and long-lasting relationship Through email marketing, you can target your existing and future customers without spending much, and you can make more money. Top Email Marketing Services - 2022 Constant Contact Constant Contact is an excellent email marketing service for small business owners that are just getting started in the realm of email marketing. It is renowned as the industry's best drag-and-drop email builder. It helps you to create new emails that look great and are consistent with your brand, and it does not require technical experience. In fact, you can add text, photos, videos, surveys, vouchers, and events to any kind of message. Here is one such successful email marketing campaign using the constant contact platform. Treat Cupcake Bar is a bakery located in Needham, MA, that quickly shifted its business from offline to online at the start of the pandemic. They linked their email and social marketing tools with Constant Contact to communicate critical company changes to new and existing consumers. They also included new DIY kits and an easy-to-use online purchasing system, ensuring that their delectable sweets were always available to customers. Their online sales are booming now, more than ever. HubSpot Hubspot is a well-known customer relationship management (CRM) software and the industry's most exceptional supplier of automated email marketing services. HubSpot enables you to create an entire lead generation funnel. Personalization is another strength of HubSpot. You can also A/B test your subject lines and content to improve your email open and click rates. Take a peek at one of HubSpot's email marketing campaigns. Re-engagement campaign RunKeeper - RunKeeper used this strategy to re-engage lost users with a nice, informative email. The content encouraged recipients to give the app another opportunity by highlighting recent updates and features. It also mentioned new perks that the receiver may not be aware of. The “Hi friend” welcome and “You rock” closure make the email feel more friendly and less confrontational. SendinBlue SendinBlue is a feature-rich SMS and email marketing platform designed specifically for businesses. It is a robust email service provider that enables organizations to leverage email marketing campaigns and automation to foster stronger relationships. In addition, SendinBlue is the only company that gives you unlimited contacts and emails, no matter what plan you choose. Chef Nuit Regular and her husband Jeff run some of the best and most influential Thai restaurants in Toronto, including PAI, Kiin, Sabai Sabai, and Sukhothai. After the COVID-19 crisis in early 2020, the team needed email marketing tools to help them diversify their online channels, keep in touch with existing consumers, and promote their new e-commerce vertical. So, they used SendinBlue for their email marketing campaign. Here's what PAI's Marketing & Communications Manager, Bonita Mok, had to share: "Our experience with Sendinblue has been great so far. We are happy to be able to reach our customers and maintain a close relationship with them. We normally have a 30 to 40% open rate which means great engagement!" Converkit Convertkit is a scalable and effective email marketing service provider for influencers, bloggers, writers, publishers, and digital marketers. They create registration forms, popup forms, course signups, and landing sites using customizable themes. ConvertKit also allows you to quickly separate subscribers into those considering buying and those who have already bought. This enables you to enhance conversions with more personalized automated emails. Monica formerly managed Affilimate, an affiliate dashboard and analytics solution for bloggers and affiliate marketers. Everything was fine until the pandemic hit. Her travel blog's earnings ceased, and both Affilimate and its customers suffered. She chose ConvertKit because it did not require her to learn how to create and format an eBook. All she required was an intuitive interface for creating her email course. She gained over 1,000 subscribers in less than two weeks, confirming she was on the right track with her specialization. What Features to Look for While Selecting the Service? Selecting the best email tool for your smallbusiness requires some research. Because what works for one firm in terms of mass email distribution may not necessarily work for others. It might be overwhelming if you are unsure of what to search for. Here are the top features to look for when choosing an email marketing service for your small business: Excellent deliverability-made email designs Email automation Price Analytics and reporting Opt-in forms List segmentation Multi-inbox previews Landing page builders Omnichannel messaging Customer data If you work in sales, email is the third most powerful source of information for B2B audiences, trailing only personal workplace relationships and industry thought leaders' recommendations. Email Marketing Is Still a Strong Marketing Base According to Statista, the global email marketing industry was worth $7.5 billion in 2020 and is expected to reach $17.9 billion by 2027. Similarly, 4 billion people use email on a daily basis. According to the same source, this figure will rise to 4.6 billion by 2025. By looking at the above statistics, the tried and tested method of email marketing will continue to offer a lot in 2022 and beyond. In addition, email marketing continues to outperform other forms of internet marketing in terms of return on investment. 64% of small businesses communicate with clients via email. (HubSpot) 31% of B2B marketers believe email newsletters are the most effective strategy to nurture leads. (HubSpot) Email marketing is still the most direct communication channel to internet users today, and it is also the most effective. It has the potential to increase your sales, enhance your brand image, and increase consumer engagement, among other things. The importance of email marketing for small businesses should be self-evident. Conclusion So, the best email marketing service for your small business certainly depends on your business needs. This article has identified and covered the top ones. Email lets the item speak for themselves. You can implement the above mentioned top email marketing services to reap the benefits of email power. FAQ: What are the best services for high-volume email marketing? Some of the top email marketing services for small businesses are: Constant Contact HubSpot SendinBlue Convertkit GetResponse What is the future of email marketing? According to Statista, by 2023 it is estimated that there will be 4.3 billion email subscribers worldwide. This implies that the email marketing should have personalization, email triggers, segmentation, and database management tools. Thus, securing the future of email marketing for small businesses. How effective is email marketing? Email marketing outperforms social media by 40 times. Email marketing may boost revenue, get new customers, and keep existing ones.

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Spotlight

Sutra Services Pvt. Ltd.

SutraHR (www.sutrahr.com) is one of Asia's fastest growing HR companies. We aspire to be amongst the top three HR companies based out of India in the next two years. Our aim is to become a highly experiential and inspiring HR brand. SutraHR works with companies in the e-commerce, mobile, and new-age technology space, where companies go from zero to billion dollars in less than five years. Being a market leader, we have a massive advantage of revolutionizing the HR scene in India. SutraHR is a multi-million dollar enterprise having a strength of 100+ employees and gunning for 250+ employees in a year's time.

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TECHNOLOGY,FINANCE

NerdWallet To Acquire On The Barrelhead

NerdWallet, Inc. | June 24, 2022

NerdWallet, Inc. (Nasdaq: NRDS), a platform that provides financial guidance to consumers and small- and mid-sized businesses (SMBs), announced the entry into an acquisition agreement with On the Barrelhead, Inc., a data-driven platform that provides consumers and SMBs with credit-driven product recommendations to help improve their financial lives. Through this acquisition, On the Barrelhead will fully integrate into NerdWallet’s existing teams, brand, products and technology. NerdWallet’s trusted brand and knowledgeable financial guidance paired with On the Barrelhead’s proprietary data and technology solutions will enable consumers and SMBs to match with better financial products and make smarter money moves. “Our vision for a trusted financial ecosystem means we’re able to provide consumers and SMBs with a trusted platform to learn about various financial topics, shop for products, connect their data and receive data-driven nudges, On the Barrelhead’s data and technology solutions will help us advance toward our goal by enabling us to leverage consumer information to provide users with relevant financial guidance and more personalized and compelling product recommendations. Their differentiated technology solutions and NerdWallet’s trusted brand and reach will also strengthen our footprint in the lending space by providing significant value to our partners.” -Tim Chen, CEO and Co-founder of NerdWallet. On the Barrelhead was founded with a goal to help consumers and SMBs understand and navigate their loan options to improve their finances. Their platform provides consumers and SMBs with highly personalized credit recommendations by intelligently matching customer credit information with financial partner data. By leveraging data analysis, On the Barrelhead’s platform also helps users improve their finances by surfacing new product recommendations to manage their debt and save them money. “Finding trustworthy guidance and recommendations on how to access capital and consolidate debt is hard to come across for consumers and SMBs, We are excited to be joining NerdWallet’s dedicated and knowledgeable team to unlock more ways for our users to optimize their finances.” -Sam Yount, CEO and Co-founder of On the Barrelhead. NerdWallet expects that its trusted brand and massive reach combined with On the Barrelhead’s differentiated technology will unlock profitable growth at scale and help advance toward becoming a trusted financial ecosystem. In addition to NerdWallet’s ongoing expansion into new financial categories and geographies, this acquisition reinforces NerdWallet’s ability to vertically integrate, as proven with its successful acquisition of Fundera. For the twelve months ended December 31, 2021, On the Barrelhead generated approximately $38 million in revenue, growing roughly 90% year-over-year, and $5 million in net income. NerdWallet believes the acquisition of On the Barrelhead would have been accretive to NerdWallet’s revenue and adjusted EBITDA for the year ended December 31, 2021. NerdWallet expects the acquisition will be accretive to NerdWallet’s 2022 revenue and adjusted EBITDA and reconfirms previously announced expected year-over-year increase in its 2022 annual adjusted EBITDA margin. About NerdWallet NerdWallet (Nasdaq: NRDS) is on a mission to provide clarity for all of life’s financial decisions. As a personal finance website and app, NerdWallet provides consumers with trustworthy and knowledgeable financial information so they can make smart money moves. From finding the best credit card to buying a house, NerdWallet is there to help consumers make financial decisions with confidence. Consumers have free access to our expert content and comparison shopping marketplaces, plus a data-driven app, which helps them stay on top of their finances and save time and money, giving them the freedom to do more. NerdWallet is available for consumers in the U.S., UK and Canada. About On the Barrelhead, Inc. Founded in 2017, On the Barrelhead is a data-driven platform that provides consumers and SMBs with credit-driven product recommendations to help improve their financial lives. On the Barrelhead’s platform is built on four sophisticated technology solutions: Plinko, Maestro, Recast and Squid, which combine to create an engine that leads to better outcomes for consumers, partners and their business.

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FINANCE

Nuula Partners with Even Financial, Releases a Powerful Search Feature for Early-Stage Small Businesses

Nuula | June 22, 2022

An emerging fintech company, Nuula, focused on offering simplified small business tools and solutions, announced the release of a personal loan feature that enables early-stage small business owners to explore over 30 lenders’ offerings ranging between $5k and $250k. "Small businesses come in all shapes and sizes—and so do their capital needs. Nuula's all-in-one approach not only allows small businesses to access incredibly powerful tools that provide real-time insight into the health of their business, but now allows them access to a range of different financing options, such as personal loans, to help them access the capital needed to be successful at every stage of their business, powered by Even." Mark Ruddock, CEO, Nuula The new solution complements Nuula’s existing product for term loans that is directed toward more established businesses. This new feature addresses the needs of small business owners like sole proprietors, consultants, and freelancers. "There is no one-size-fits-all approach to cover all of the different capital needs of a small business. By partnering with Even, qualified Nuula customers will be able to access offers from the largest network of connected leading financial service providers and find personal loans that best fit their needs." -Andrew Nauom, SVP of Sales at Even

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FINANCE

Verizon partners with Mastercard and FNBO to launch small business credit card

Verizon Business | June 21, 2022

Verizon Business announced that it is teaming up with Mastercard and First National Bank of Omaha (FNBO) to launch a credit card designed to bring value to small business owners. In the coming weeks, existing Verizon Business wireless customers with less than 100 lines and an online account will be eligible to apply for the Verizon Business Mastercard®, which rewards purchases on everyday business expenses such as eligible office supplies, technology, fuel, and more. "Mastercard has been a key partner to us on our journey to help our customers of all sizes transform their businesses and ensure they are truly future-ready,” said Tami Erwin, CEO of Verizon Business. “We are pleased to expand this partnership to include FNBO and bring this small business credit card to our customers at a time when we know they are seeking new avenues to expand their business, manage costs and maximize their use of new technologies to solve challenges to drive growth.” Here is how it works: The Verizon Business Mastercard®, which is issued by FNBO, will allow small business owners who apply and are approved to earn and redeem Verizon Business Dollars toward devices or accessories for their business. Benefits and features of the card will include: Earn Rewards on Eligible Business Purchases*: Earn 5% back on Verizon purchases, like paying your Verizon bill or buying devices from Verizon, during your first billing cycle after account opening;1 3% back on Verizon purchases after your first billing cycle;1 2% back on eligible gas; electronic vehicle charging and office supplies;2 and 1% back on other purchases.3 Get More for Your Business: Earn Verizon Business Dollars on eligible business purchases and redeem them later toward new devices or a Verizon Business wireless bill. New Cardholder Bonus: Eligible Verizon Business customers who apply and are approved will receive $50 toward their credit card statement after their first purchase on the card* (maximum one bonus per business account). No Annual Fee4: The Verizon Business Mastercard® has no annual fee or foreign transaction fees.4 Fill Your Digital Toolbox: The Verizon Business Mastercard® features World Elite Mastercard for Business® benefits to help small business owners reach new audiences and grow their businesses, including access to Microsoft Advertising, Zoho Social and Zoho Marketing Pal.5 Assess Your Digital Footprint: Cardholders will have access to Mastercard’s Digital Diagnostic assessment and Digital Doors program, which provides always-on resources for small business owners to set up shop online, grow and manage their business, accept payments, and keep their business protected. Safe & Secure Payments Experience: The Verizon Business Mastercard® is contactless enabled. Upon approval for the card, cardholders can begin making purchases immediately online, in app, and at the point of sale after adding it to their mobile wallet. Experience Peace of Mind: The Verizon Business Mastercard® offers Mastercard ID Theft Protection™, Zero Liability6 and Price Protection, in addition to 24/7/365 Global Emergency Services.5 This new offering is the result of a multifaceted partnership between Verizon Business and Mastercard to help provide solutions for the global payments and commerce ecosystems. The global leaders continue to work together to couple Verizon’s 5G connectivity with the power of the Mastercard network. Today’s announcement complements Verizon’s network-as-a-service foundation and supports its core areas of growth and innovation across mobility, nationwide broadband, mobile edge computing and business solutions, the value market and network monetization. “Today’s small business owner is looking for smarter, relevant, and customized digital financial products that accelerate their operations and make their lives easier,” said Chiro Aikat, Executive Vice President, Products & Engineering, North America at Mastercard. “We’re proud to extend our relationship with Verizon and FNBO to connect the small business segment through meaningful technology and benefits.” “FNBO has a rich history of helping small businesses grow and succeed, so we are excited to partner with such a respected brand as Verizon on the launch of their first program for small business,” said Jerry J. O’Flanagan, Executive Vice President, Partner Segment at FNBO. To find out if your business is eligible to apply for the Verizon Business Mastercard® when it officially launches, visit http://verizon.com/business-mastercard-comingsoon. ABOUT VERIZON Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control. ABOUT FNBO First National Bank of Omaha (FNBO) is a leader in the credit card partnership arena, with partners in a variety of industries including retail, travel, entertainment, automotive, oil, nonprofits and more. For over 60 years, FNBO has specialized in providing comprehensive credit card programs with personalized service to help its customers achieve their goals. Visit card.fnbo.com for more information. ABOUT MASTERCARD (NYSE: MA) Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com

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TECHNOLOGY,FINANCE

NerdWallet To Acquire On The Barrelhead

NerdWallet, Inc. | June 24, 2022

NerdWallet, Inc. (Nasdaq: NRDS), a platform that provides financial guidance to consumers and small- and mid-sized businesses (SMBs), announced the entry into an acquisition agreement with On the Barrelhead, Inc., a data-driven platform that provides consumers and SMBs with credit-driven product recommendations to help improve their financial lives. Through this acquisition, On the Barrelhead will fully integrate into NerdWallet’s existing teams, brand, products and technology. NerdWallet’s trusted brand and knowledgeable financial guidance paired with On the Barrelhead’s proprietary data and technology solutions will enable consumers and SMBs to match with better financial products and make smarter money moves. “Our vision for a trusted financial ecosystem means we’re able to provide consumers and SMBs with a trusted platform to learn about various financial topics, shop for products, connect their data and receive data-driven nudges, On the Barrelhead’s data and technology solutions will help us advance toward our goal by enabling us to leverage consumer information to provide users with relevant financial guidance and more personalized and compelling product recommendations. Their differentiated technology solutions and NerdWallet’s trusted brand and reach will also strengthen our footprint in the lending space by providing significant value to our partners.” -Tim Chen, CEO and Co-founder of NerdWallet. On the Barrelhead was founded with a goal to help consumers and SMBs understand and navigate their loan options to improve their finances. Their platform provides consumers and SMBs with highly personalized credit recommendations by intelligently matching customer credit information with financial partner data. By leveraging data analysis, On the Barrelhead’s platform also helps users improve their finances by surfacing new product recommendations to manage their debt and save them money. “Finding trustworthy guidance and recommendations on how to access capital and consolidate debt is hard to come across for consumers and SMBs, We are excited to be joining NerdWallet’s dedicated and knowledgeable team to unlock more ways for our users to optimize their finances.” -Sam Yount, CEO and Co-founder of On the Barrelhead. NerdWallet expects that its trusted brand and massive reach combined with On the Barrelhead’s differentiated technology will unlock profitable growth at scale and help advance toward becoming a trusted financial ecosystem. In addition to NerdWallet’s ongoing expansion into new financial categories and geographies, this acquisition reinforces NerdWallet’s ability to vertically integrate, as proven with its successful acquisition of Fundera. For the twelve months ended December 31, 2021, On the Barrelhead generated approximately $38 million in revenue, growing roughly 90% year-over-year, and $5 million in net income. NerdWallet believes the acquisition of On the Barrelhead would have been accretive to NerdWallet’s revenue and adjusted EBITDA for the year ended December 31, 2021. NerdWallet expects the acquisition will be accretive to NerdWallet’s 2022 revenue and adjusted EBITDA and reconfirms previously announced expected year-over-year increase in its 2022 annual adjusted EBITDA margin. About NerdWallet NerdWallet (Nasdaq: NRDS) is on a mission to provide clarity for all of life’s financial decisions. As a personal finance website and app, NerdWallet provides consumers with trustworthy and knowledgeable financial information so they can make smart money moves. From finding the best credit card to buying a house, NerdWallet is there to help consumers make financial decisions with confidence. Consumers have free access to our expert content and comparison shopping marketplaces, plus a data-driven app, which helps them stay on top of their finances and save time and money, giving them the freedom to do more. NerdWallet is available for consumers in the U.S., UK and Canada. About On the Barrelhead, Inc. Founded in 2017, On the Barrelhead is a data-driven platform that provides consumers and SMBs with credit-driven product recommendations to help improve their financial lives. On the Barrelhead’s platform is built on four sophisticated technology solutions: Plinko, Maestro, Recast and Squid, which combine to create an engine that leads to better outcomes for consumers, partners and their business.

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FINANCE

Nuula Partners with Even Financial, Releases a Powerful Search Feature for Early-Stage Small Businesses

Nuula | June 22, 2022

An emerging fintech company, Nuula, focused on offering simplified small business tools and solutions, announced the release of a personal loan feature that enables early-stage small business owners to explore over 30 lenders’ offerings ranging between $5k and $250k. "Small businesses come in all shapes and sizes—and so do their capital needs. Nuula's all-in-one approach not only allows small businesses to access incredibly powerful tools that provide real-time insight into the health of their business, but now allows them access to a range of different financing options, such as personal loans, to help them access the capital needed to be successful at every stage of their business, powered by Even." Mark Ruddock, CEO, Nuula The new solution complements Nuula’s existing product for term loans that is directed toward more established businesses. This new feature addresses the needs of small business owners like sole proprietors, consultants, and freelancers. "There is no one-size-fits-all approach to cover all of the different capital needs of a small business. By partnering with Even, qualified Nuula customers will be able to access offers from the largest network of connected leading financial service providers and find personal loans that best fit their needs." -Andrew Nauom, SVP of Sales at Even

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FINANCE

Verizon partners with Mastercard and FNBO to launch small business credit card

Verizon Business | June 21, 2022

Verizon Business announced that it is teaming up with Mastercard and First National Bank of Omaha (FNBO) to launch a credit card designed to bring value to small business owners. In the coming weeks, existing Verizon Business wireless customers with less than 100 lines and an online account will be eligible to apply for the Verizon Business Mastercard®, which rewards purchases on everyday business expenses such as eligible office supplies, technology, fuel, and more. "Mastercard has been a key partner to us on our journey to help our customers of all sizes transform their businesses and ensure they are truly future-ready,” said Tami Erwin, CEO of Verizon Business. “We are pleased to expand this partnership to include FNBO and bring this small business credit card to our customers at a time when we know they are seeking new avenues to expand their business, manage costs and maximize their use of new technologies to solve challenges to drive growth.” Here is how it works: The Verizon Business Mastercard®, which is issued by FNBO, will allow small business owners who apply and are approved to earn and redeem Verizon Business Dollars toward devices or accessories for their business. Benefits and features of the card will include: Earn Rewards on Eligible Business Purchases*: Earn 5% back on Verizon purchases, like paying your Verizon bill or buying devices from Verizon, during your first billing cycle after account opening;1 3% back on Verizon purchases after your first billing cycle;1 2% back on eligible gas; electronic vehicle charging and office supplies;2 and 1% back on other purchases.3 Get More for Your Business: Earn Verizon Business Dollars on eligible business purchases and redeem them later toward new devices or a Verizon Business wireless bill. New Cardholder Bonus: Eligible Verizon Business customers who apply and are approved will receive $50 toward their credit card statement after their first purchase on the card* (maximum one bonus per business account). No Annual Fee4: The Verizon Business Mastercard® has no annual fee or foreign transaction fees.4 Fill Your Digital Toolbox: The Verizon Business Mastercard® features World Elite Mastercard for Business® benefits to help small business owners reach new audiences and grow their businesses, including access to Microsoft Advertising, Zoho Social and Zoho Marketing Pal.5 Assess Your Digital Footprint: Cardholders will have access to Mastercard’s Digital Diagnostic assessment and Digital Doors program, which provides always-on resources for small business owners to set up shop online, grow and manage their business, accept payments, and keep their business protected. Safe & Secure Payments Experience: The Verizon Business Mastercard® is contactless enabled. Upon approval for the card, cardholders can begin making purchases immediately online, in app, and at the point of sale after adding it to their mobile wallet. Experience Peace of Mind: The Verizon Business Mastercard® offers Mastercard ID Theft Protection™, Zero Liability6 and Price Protection, in addition to 24/7/365 Global Emergency Services.5 This new offering is the result of a multifaceted partnership between Verizon Business and Mastercard to help provide solutions for the global payments and commerce ecosystems. The global leaders continue to work together to couple Verizon’s 5G connectivity with the power of the Mastercard network. Today’s announcement complements Verizon’s network-as-a-service foundation and supports its core areas of growth and innovation across mobility, nationwide broadband, mobile edge computing and business solutions, the value market and network monetization. “Today’s small business owner is looking for smarter, relevant, and customized digital financial products that accelerate their operations and make their lives easier,” said Chiro Aikat, Executive Vice President, Products & Engineering, North America at Mastercard. “We’re proud to extend our relationship with Verizon and FNBO to connect the small business segment through meaningful technology and benefits.” “FNBO has a rich history of helping small businesses grow and succeed, so we are excited to partner with such a respected brand as Verizon on the launch of their first program for small business,” said Jerry J. O’Flanagan, Executive Vice President, Partner Segment at FNBO. To find out if your business is eligible to apply for the Verizon Business Mastercard® when it officially launches, visit http://verizon.com/business-mastercard-comingsoon. ABOUT VERIZON Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control. ABOUT FNBO First National Bank of Omaha (FNBO) is a leader in the credit card partnership arena, with partners in a variety of industries including retail, travel, entertainment, automotive, oil, nonprofits and more. For over 60 years, FNBO has specialized in providing comprehensive credit card programs with personalized service to help its customers achieve their goals. Visit card.fnbo.com for more information. ABOUT MASTERCARD (NYSE: MA) Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com

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