The number of educated small business owners is growing, giving rise to a new generation of proactive entrepreneurs gaining a competitive advantage.
EL PASO, TEXAS, U.S.A., June 16, 2023/EINPresswire.com/ — Leading invoice funding company Viva Capital says more small business owners are taking a lifelong learning approach to finance and achieving better business outcomes. Additional coverage of the topic is available in “Top 10 Financial Metrics Your Business Should Be Tracking,” which is now live on VivaCF.net.
The invoice funding company draws on Intuit surveys, which indicate that 81 percent of small business owners report handling their business’ finances themselves, despite just 40 percent describing themselves as financially literate. However, the organization contends that the situation isn’t as grim as these figures have historically shown.
Armando Armendariz, Director of Business Development and Partner of Viva Capital, gives a nod to a 2017 CNBC survey, which indicated just 44 percent of small business owners had obtained a bachelor’s degree or higher, but notes that more recent data from the Bureau of Labor Statistics shows the figure has since jumped to 54 percent.
“Today’s small business owners are tenacious and hungry for information that will drive their organizations forward,” Armendariz explains.
He says that even those without degrees are more informed than ever and take steps to fill their knowledge gaps through self-guided research, courses, and working with pros. This has led to a more proactive approach, as more business owners keep on top of key financial metrics and work to improve in areas like cash flow before they become a problem.
“Sometimes businesses need working capital to seize opportunities or manage growth,” continues Armendariz. “Because they recognize this sooner and act on it, they gain a competitive advantage and grow stronger faster.”
Armendariz says that the number of informed business owners he sees coming to Viva is evidence of this shift, as more are coming through the doors understanding how invoice factoring can help them scale in addition to addressing cash flow gaps.
Those interested in learning more about invoice factoring are encouraged to request a complimentary rate quote.
ABOUT VIVA
Founded in 1999, Viva helps B2B businesses of all types accelerate cash flow through specialized funding solutions like factoring, accounts receivable financing, and asset-based lending. Their simple qualification process makes it easy for small and mid-sized companies to get vital funding despite lack of credit or time in business. Additional information is available at VivaCF.net.
