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.