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SME Banking
Hey! businesses of all size, already stable or trying to rise, SMEs to corporates in all industry, want to achieve business mastery? Manage finances efficiently, grow your business steadily, with Hylobiz, a Fintech of today giving your cash flow a shining ray. With digital disruption, strong automation and innovation, on the neo banking platform, enabling...
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Small and medium businesses constitute more than ninety percent of the registered businesses in UAE, despite being the largest contributor to the country’s growth and employment, access to finance remains the key challenge for them. SMEs face many kinds of challenges to meet their financial gap, as they’re not able to secure funds from the...
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With digital transformation, fintech has altered the financial sector. The banks and NBFCs no more treat Fintech as a threat and rather consider collaborating with them for building trust and for serving customers better. 2021- the year of bank and fintech partnership With disruption brought in by Covid 19 pandemic, the fintech with modern tools...
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Irrespective of the industry it operates, maintaining profitability and managing working capital efficiently are important for every SME business to survive and gain competitive advantage. SMEs face multiple challenges while managing their working capital. Managing financial detail, tracking financial transactions and reports, managing receivables and payables, managing invoices, payments, and collections manually are just tedious...
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Hylobiz believes in growing together and foresees a future where SME businesses in UAE grow with us. Key challenges faced by SMEs High amount of monthly outstanding overduesLot of manual chasing and follow upsManual reconciliation Difficulty of tracking cash and cheque collections Manually reminding customers for payments The strength of automation and innovation on Hylobiz...
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Working capital is the amount used by a business to meet its day to day operations, it represents the financial health of a business. Generally Working capital amount is derived by subtracting current liabilities from current assets of a business. Working capital formula = Current assets – Current liabilities Working capital is of prime importance...
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Are you an SME business owner trying to plan your business working capital effectively? Perhaps you have realized that gaining revenues and acquiring more clients are just not enough to get sufficient working capital. It is important to plan working capital efficiently to manage operational expenses and to meet long term funding requirements. Significance of...
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Working capital loan is a short term debt financing available to a business, through which a business can meet their day to day operations such as rent payments, payroll and inventory purchases. It can be either secured or unsecured. Working capital loan can be in the form of letter of credit, bank overdraft, invoice discounting...
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Joseph, a small business owner based out of Bengaluru was in trouble to pay off his shop rent , electricity bills and other day to day expenses as he was not able to manage his inventory, receivables and cash. Here the problem faced by Joseph is inefficiency to manage working capital. In the same way...
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SME businesses in UAE saw a steep fall in cash flow with COVID 19 pandemic. According to a study done by PWC (https://www.pwc.com/m1/en/publications/working-capital-2020.html ), in the first half of 2020, there was 23% deterioration in the average working capital performance of surveyed companies. What were the key drivers affecting the working capital of SMEs during...
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