By Bernard Bempong, CA
Small and medium-sized enterprises (SMEs) make up 90% of businesses worldwide and contribute more than 50% of global employment (UN). However, despite their economic significance, millions of SMEs struggle to access essential financial tools due to regional restrictions, payment gateway limitations, and lack of local support.
The Accessibility Challenge for SMEs
Popular accounting software like QuickBooks, Xero, and Sage 50 dominate the global market, yet they collectively serve only about 20% of the world’s 400 million SMEs. That leaves 320 million SMEs without access to the financial management tools they need.
One of the biggest barriers? Payment restrictions and country limitations.
Even if an SME has the funds to purchase these platforms, they often face hurdles such as:
- Unsupported payment gateways that prevent transactions in certain countries.
- Lack of country recognition, making it impossible to register or verify accounts.
- Limited customer support for businesses outside core markets.
A Real-World Example of the Challenge
We recently attempted to set up two-factor authentication (2FA) for QuickBooks in The Gambia, only to discover that the country is not listed in QuickBooks’ dropdown menu. The only workaround? Using a Ghanaian phone number just to complete the verification process.
This frustrating reality excludes millions of SMEs in Africa, Asia, Latin America, and beyond from using essential accounting software—simply because their countries aren’t recognized.
FinovatePro: A Game-Changer for SMEs in 200+ Countries
At FinovatePro, we’re solving this problem by serving unserved and underserved markets with a borderless financial solution designed specifically for SMEs in over 200 countries.
Why FinovatePro is Different
- No Payment Barriers – We’ve integrated multiple global and local payment gateways, allowing businesses to subscribe regardless of location.
- Global Accessibility – Our platform is powered by Google’s advanced geo-location technology, ensuring seamless access from any part of the world.
- Built for Emerging Markets – Unlike traditional accounting software, FinovatePro recognizes all countries, eliminating unnecessary verification roadblocks.
- Localized Customer Support – We provide dedicated support tailored to the needs of businesses in Africa, Asia, the Middle East, Latin America, and beyond.
The Future of Financial Software is Borderless
SMEs are the driving force behind global economies, yet too many are left out of the digital financial revolution. At FinovatePro, we’re here to change that.
If you’ve ever struggled to access accounting software due to payment restrictions, country limitations, or verification challenges, FinovatePro is built for you.
💡 Join us in revolutionizing financial accessibility for SMEs worldwide! 🚀
Facts:
- 90% of businesses worldwide are SMEs (UN).
- More than 50% of global employment comes from SMEs (UN).
- 320 million SMEs remain underserved by mainstream accounting software (World Bank).
- Google’s geo-location technology enables seamless access from anywhere in the world.
