While the world gets a handle on the COVID-19 pandemic from a medical perspective, we are only just starting to see the long term effects the disease has on the economies of the world.
As part of a survey conducted in earlier this year, Heavy Chef found that 73 percent of SMEs were not operating during April 2020. As a result, three out of four SMEs might be forced to close their doors.
In a bid to address that problem there is a funding platform that matches SMEs in need with funding using technology.
“Finding support in the form of funding needs to be simplified to get SMEs back on their feet. Running a business in these times is difficult enough, finding support should not be,” says Rowan Spazzoli, spokesperson for SMEgo.
So what is SMEgo?
The platform was originally designed to serve as a centralised funding application platform for SMEs but since the COVID-19 pandemic has also served as a great way to pivot your business, SMEgo pivoted.
SMEs owners are now prompted to complete an expansive questionnaire about their business. SMEgo then uses clever tech to match a funder with your business.
When a funder is found, the owner is prompted to upload any additional documents or add more information.
This streamlines the funding application process and decreases the amount of admin for funders.
“Funders can access information about the SME from a single dashboard and communicate their decision whether to fund or not by updating the application status,” explains Spazzoli.
The SMEgo spokesperson says that SMEs can also mentor other SME owners and even schedule training through the platform.
SMEgo looks to be a rather valuable tool right now and if you’re either an SME or a funder we recommend heading over to the official website.[Image – CC 0 Pixabay]