Small and Medium-Sized Businesses (SMBs) are the backbone of the global labor market and constitute a significant 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 – roughly half of America’s private workforce. Yet, despite 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 enterprise partners 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 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 companies would add $1.8 trillion to the US 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 SMBs need while creating the first-ever global community for SMBs.
Markaaz’s partnership with FUNDES is an essential step toward realizing these goals.
For 35 years, FUNDES, a Latin-American consulting firm, has worked hand in hand with leading organizations in Latin America’s public and private sectors, transforming, professionalizing, and linking their ecosystems to empower SMBs.
Chief Executive Officer at FUNDES, Elfid Torres, says: “At FUNDES, we take great pride in supporting small and medium-sized businesses for over 35 years. We know their challenges, and we are here to help them 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 says: “Together, we will create new and equal opportunities for the Latinx SMB community.”
Markaaz will feature content created by FUNDES Digital, including videos that support 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 developing SMBs and its successful and sustainable integration into the value chain of large companies. FUNDES has been working 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.