Fundica's 2022 Survey of Needs and Expectations of Small Businesses with Respect to Financial Institutions
An overwhelming majority of respondents (96%) viewed their financial institution as the current or preferred one-stop destination for government and private funding. In fact, 97% would find it helpful if their financial institution identified relevant government funding for them and gave them a more complete funding experience.
MONTREAL, May 10, 2022 /PRNewswire-PRWeb/ -- Fundica, North America's leading funding search engine, is pleased to release the results of a survey conducted in early April 2022 of nearly one thousand business owner respondents (986) to better understand the needs and expectations of small business with respect to financial institutions.
The study found that these respondents consider finding funding to be their biggest challenge, with finding clients being the next biggest challenge. Currently, they first turn to generic search engines, like Google, or their financial institutions to find business funding.
That said, only 18% of respondents considered that their financial institution "absolutely" adds value to their business. While low fees are what the small businesses surveyed value the most from a financial institution, working with knowledgeable advisors was also important to them.
Interestingly, an overwhelming majority of respondents (96%) viewed their financial institution as the current or preferred one-stop destination for government and private funding. In fact, 97% would find it helpful if their financial institution identified relevant government funding for them and gave them a more complete funding experience.
The survey also revealed that 95% of respondents would consider switching financial institutions for a more complete funding experience that included solutions beyond the traditional financial institution ones.
"Fundica's goal is really to provide a win-win scenario for both financial institutions and small businesses," said Mike Lee, CEO and Co-founder of Fundica. "That is why we are always trying to learn more about small businesses' needs and communicate those needs to financial institutions so they can better address them and grow their client base in the process."
For more details on this survey, please go to https://www.fundica.com/2022/05/06/survey-of-small-businesses-on-financial-institutions/
About Fundica:
Fundica licenses white-labelled funding search technology to financial institutions and small business support organizations to help them acquire and retain businesses at scale. With no IT integration required, this technology allows businesses to effortlessly identify and apply for the most relevant government and complementary funding available. In the process, the financial institution or small business support organization hosting the technology captures firmographics and funding intentions on their site and becomes a trusted, one-stop funding advisor. To learn more, visit: https://www.fundica.com/
For More Information (journalists only):
Fundica:
Frederique Menard
Content Marketer
[email protected]
Media Contact
Frederique Menard, Fundica, 1 514 632-8938, [email protected]
SOURCE Fundica
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