Small and Medium Sized Businesses (SMBs) are the backbone of the global labor market and are a major share of global GDP. In the US, SMBs comprise 99% of all firms, generate nearly half (17.5 trillion) of all revenue, and employ 58.9 million people – nearly half of America’s private workforce. Yet, despite their being the backbone of the US economy, SMBs are treated as an invisible mass; resources for SMBs are fragmented and misaligned.
This is why Markaaz is committed to supporting SMBs with better resources and access to opportunities. Markaaz’s infrastructure and products address long-standing structural issues and bring new life into a sector that’s been underserved for too long. With its motto ‘built by and for SMBs’, Markaaz speaks the same language as SMBs, while building SMB-first technology and products, that help them succeed and thrive. In addition, the global community Markaaz is building, is a first for SMBs allowing them access to best-in-class access, and all the tools they need in one place.
Markaaz is focused on driving access, equality, and inclusion. Consistent with that mission, Markaaz is working with Latinx businesses in the US, which have had rapid growth over the past 20 years. The average Latinx firm earns $1.2 million in revenue with still significant room to grow compared to the US average of $2.3 million in revenue. Through Markaaz, Latinx SMBs have equal opportunities to continue to grow and accelerate their business. Even at the US average Latinx businesses would add $1.8 trillion to the U.S. economy– adding nine percent to the economy’s $20 trillion GDP.
Markaaz is committed to building the first-ever operating system for SMBs globally, starting in the US. Its digital infrastructure provides all the tools that SMBs need while creating the first-ever global community for SMBs.
Markaaz’s partnership with FUNDES is an important step towards realizing these goals.
For 35 years, FUNDES, a Latin-American consulting firm, has worked hand in hand with leading organizations in the public and private sectors in Latin America, transforming, professionalizing, and linking together their ecosystems in order to empower SMBs.
Chief Executive Officer at FUNDES, Elfid Torres, says on the importance of supporting Latinx SMBs: “At FUNDES, we take great pride in having supported small and medium-size businesses for over 35 years. We know their challenges and we are here to help them every step of the way on their journey towards digital adoption”
FUNDES and Markaaz are bringing together in-depth knowledge, experience, and tools to support Latinx small business owners in the US.” As Markaaz COO Fabi Hubschmid puts it, “Together, we will create new and equal opportunities for the Latinx SMB community”.
Markaaz will feature content created by FUNDES Digital, including a series of videos that support the Latinx SMB owners with insights, on topics ranging from inventory management to accounting and cash flow, all available free of charge.
Markaaz and FUNDES will also work with local communities and strategic partners to create reach and enable distribution. Together, Markaaz and FUNDES will equip Latinx SMBs with the digital tools and information to thrive.
About FUNDES: FUNDES is a pioneering consultancy in the development of SMBs and its successful and sustainable integration into the value chain of large companies. FUNDES has been working hand-in-hand with leading organizations in Latin American private and public sectors for 35 years to professionalize, transform and connect the links of their ecosystems involving SMBs. FUNDES is passionate about promoting the competitive development of micro, small and medium-sized enterprises in Latin America.
About Markaaz: Markaaz is building the worlds’ first Operating System for SMBs alongside with a digital Passport that helps SMBs store information, exchange, and interact efficiently. Products such as bundled tools (that are exclusively available on Markaaz) are offered at favorable rates and are easy to use on the Markaaz Operating System. Markaaz proves the art of the impossible with its Cognitive and AI capabilities, to customize and personalize experience and products, and is a leader in bringing together strategic partners to create real impact, at scale.