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Beany Partners With Fundtap To Help Small Businesses Recover From Covid-19

Beany partners with Fundtap graphic

As New Zealand continues to battle Covid-19, many of its small businesses have been forced to close their doors and others are in need of additional financial support to ensure they can survive the months ahead. To give small businesses a lifeline, two Kiwi businesses have created a partnership to provide them with crucial financial and accounting support so that they can not only survive, but thrive as we start to reopen.

With more than 530,000 small businesses in New Zealand, Beany and FundTap have created a digital partnership to give small businesses the skills and capabilities that have traditionally been reserved for large companies – bringing leading-edge, lockdown-proof funding and accountancy services to enable and empower small businesses to achieve success in the current Covid-landscape and beyond.

Unsurprisingly, research has found that a large number of businesses currently require additional, short-term cashflow, with micro and small enterprises the worst affected by Covid-19 on a global scale. With many of these Kiwi businesses already undergoing significant pressure prior to the latest lockdown, some still in recovery mode following last year’s restrictions, the current impact on New Zealand small businesses and their balance sheets is unprecedented.

Beany Founder Sue de Bievre says when lockdowns hit around the world, all businesses were forced to adapt, and those that succeeded the most were the ones that embraced shifting as much of their business online as they could – which is what this partnership encourages, enables and supports.

“While Beany and FundTap offer different services, we both serve the same mission of making it easier for Kiwi small businesses to manage their finances and thrive,” said Sue.

“Beany has revolutionised the accounting game with ground-breaking technology, creating efficiencies that free up their accountants to deliver client-focused services at scale. For a fixed monthly cost, we eliminate the uncertain, automate the mundane, keep businesses compliant, and minimise tax.

“FundTap brings on-demand finance by giving businesses the option to get invoices paid when they want, receive the money in hours, and without going into debt.”

She says there is no going back for small businesses after Covid for two reasons – better opportunity for business growth and growing desire for flexible and balanced working lives.

“Businesses that embrace digital tools and services will unlock more growth than those that don’t, and with the unique challenge of lockdowns on companies cashflow, having easy access to finance is more important than ever.”

“While businesses and workers have struggled over the lockdown periods, bank and large accounting firm profits are at an all-time high. And for all they promote they do, banks typically don’t do a good job at supporting small businesses. They are generally restrictive and slow, requiring lots of time and paperwork.

“The digital partnership between Beany and FundTap will allow small businesses to get the support they need easily and efficiently to get through the current Covid-19 challenges and go on to succeed.”

Matt Peacey, Founder of FundTap says that the partnership will give small businesses a chance to recover from the challenges of the past few months.

“Despite Covid, our customers with access to FundTap's on-demand finance have grown revenue by 45% on average in the last 2 years. Combining this with Beany's beautifully smart approach to accounting, you can see why we're excited for this partnership to help support small business owners."

With a goal of helping as many Kiwi small businesses as possible achieve success post-Covid, Beany and FundTap provide access to a team of accounting professionals and access to funding, all within a simple few clicks – allowing them to spend less time on accounting and more time working towards growing their business.

Originally Published by Scoop – 7 December 2021