Akoni at the Fintech Growth Forum Event by Innovative Finance

On the 19th of September Akoni took part in the inaugural Fintech Growth Forum, an event hosted by Innovative Finance. It was the first of many such events, gathering members of Innovative Finance and the wider Fintech community to create a space for dialogue on a variety of topics and the sharing of experiences in the field.

The event brought together over 400 delegates, more than 20 exhibitors and over 50 speakers. Akoni had a stand at the even as well, exhibiting our Cash Management product to attendees and CEO Felicia Meyerowitz Singh was one of the speakers. She spoke about Akoni’s innovative platform that finally enables SMEs to gain easy access to market information on the best rates for their cash holdings, levelling the playing field with large corporations. This lack of service by traditional banks can finally be fulfilled by technological innovation and the new possibilities that Open Banking offers.

We very much enjoyed catching up with old friends in the business and making new connections that offer new insights. Such events are valuable in terms of networking, finding out about new trends and opportunities for exposure. But they are also a lot of fun and we left feeling inspired and full of energy to keep moving forward.

 

Akoni helps businesses make the most of their cash. Register free at AkoniHub.com and follow us on Twitter

SA Chamber of Commerce and Akoni CPD Event 

Financial Management for SMEs

 

Date: 12 October 2017

Time: 8:30-11:00am

Registration and breakfast will be available from 8:30 onwards

Talks will begin at 9:00am ending at 13:00am with an opportunity for networking thereafter

Venue8 Greencoat Place, London SW1P 1PL. Please ask for Akoni on arrival.

To register please email munal@akonihub.com with your details.

Speakers:

1. Sharon Constancon; Genius Minds/SA Chamber of Commerce – FX risk management – how to own, manage and monitor FX risk.

Many SME’s import products or services and those exporting is growing in the goods and services industry.  The UK forex market is busy with brokers but relatively immature at the SME and corporate level in the UK. This is a complex and high risk area of a business and we help explain to you how to manage that risk and what alternatives there are to current actions.

2. Felicia Meyerowitz-Singh; Akoni– Cash Management

Akoni is an online cash management platform system for SMEs, allowing business to maximise their returns on cash deposits. Akoni will talk about cash management in general and then discuss the Akoni platform and how utilising our tools can maximise returns / improve overall business financial management.

3. Paul Surtess & Oliver Cummings; Capitalise – Current lending market and other related trends

Most businesses do not know that there are independent and alternatives to financing options with the high street banks. Capitalise uses in-house technology and data analytics to identify the best financing options available for UK businesses. Capitalise will discuss the current lending market and other related trends.·

Akoni helps businesses make the most of their cash. Register free at AkoniHub.com and follow us on Twitter

Brexit prompts the rise of the micro business

More business-minded people are taking matters into their own hands.

Figures from the Department for Business, Energy & Industrial Strategy indicate that there are now more than 5.5m companies in the UK, and 99 per cent of these businesses are small and medium sized enterprises (SMEs).

This figure is at a record high – jumping dramatically from 2010, when there were 4.5m SMEs, and from 2000 when there were 3.5m. It’s clear that small firms are now the engine of our economy.

Read the full article here.

 

 

Akoni presenting at the Numa launch event at Google NYC

Akoni provides solutions to increase income to UK businesses by maximising returns on an under-utilised asset – cash. As a corporate and commercial solution, these issues are global problems and challenges for businesses everywhere.
As an early stage startup, Akoni provides a country and currency agnostic platform for corporates and banks, providing increased returns to corporates, personalised to their investment mandate, and benefits to banks to improve affinity to commercial clients.
Akoni is a global proposition and has started early stage planning relating to other markets including having recently been named by BBVA in the Top 10 Fintechs for companies.  While launch and growth may take a number of years, planning and awareness starts much earlier. Particularly important is obtaining support from appropriate advisers and investors who have the relevant specific market and domain expertise. Both technical value-add as well as network contacts are useful at this planning stage. The U.S market is a significant step in this direction due to the size and relative sophistication of the market.
Events, such as presenting at Google NYC for the Numa launch, have a wider audience and provide for these necessary aspects. The audience of both fintech and tech innovators, gives Akoni the right exposure at these early planning stages for future growth markets.
NUMA is an even, that empowers mission driven technology entrepreneurs to solve the global problems of 2030. Akoni is excited to be part of this event and looks forward to many more such opportunities.

 

Akoni helps businesses make the most of their cash. Register free at AkoniHub.com and follow us on Twitter

Key dates for your business in October

1st October – International Coffee Day

A day to appreciate the world’s appreciation of coffee, International Coffee Day is a party every coffee shop is invited to, so you can extend an exclusive invite to your customers. Stage a special event, get together with local coffee shops and make sure your passion for your craft is known.

20th October – Breast Cancer Awareness, Wear It Pink

One of the UK’s most iconic charities, think pink and do your bit for this noble cause. Sign upand make your good deed official. Themed goods, donations made from every purchase, fun fundraisers and generally showing your support for this charity will help customers get to know you and your brand better.

31st October – Halloween

A seriously important day of the month, whether it’s serving up spooky cocktails, decorating your shop front or livening up your social media with a few scary pranks, Halloween is a theme customers love to engage with. Brits are up for investing in a bit of scary fun, with £310 million being poured into this holiday last year. For bars or coffee shops, arrange a scary film screening or your own fancy dress party – every sort of business can get in on the spookiest night of the year.

Autumn 2017 – Small Business Commissioner Scheme

Expected to come into effect this Autumn, the Small Business Commissioner Scheme is set to give small businesses like your own a helping hand when it comes to payment disputes with bigger companies. There will also be advice and information available for small businesses on things like contracts and resolving disputes.

See the rest of the year’s key dates here

Akoni helps businesses make the most of their cash. Register free at AkoniHub.com and follow us on Twitter

 

 

How has the Brexit vote affected the UK economy? September verdict

How has the economy reacted to the vote to leave the EU?

Over the past month, sterling has surged to its highest level since the day after the referendum following firm suggestions from the Bank of England that it could raise interest rates from as early as November in order to curb inflation. Although many economists now expect a rate hike in the coming months, some argue the Bank may find it difficult to justify higher borrowing costs amid continuing uncertainty over Brexit.

Read the Guardian’s full analysis here.

Akoni helps businesses make the most of their cash. Register free at AkoniHub.com and follow us on Twitter

 

Xero & Santander announce next generation in small business banking service

Xero and Santander have announced an integrated service for SMEs. The service will provide a secure and simple solution for customers that delivers their financial data directly from their bank account into Xero free of charge.

Launching in the coming weeks, small business owners will receive the benefit of their accounting software and bank accounts communicating with each other through seamless Application Programming Interface (API) synchronisation to enhance business productivity.

Read more here.

Akoni helps businesses make the most of their cash. Register free at AkoniHub.com and follow us on Twitter

UK government support for SMEs waning?

SMEs have been promised £1 in 3£ of the government’s procurement budget by 2020, but it seems as though it is not exactly planning out that way.

Governmental services seem to be attempting to go with the tide and expand their digital services in order to digitalise citizens transactions as much as possible. Today we are able to do so many things online, saving us time, money, resources, and so much more. In just a few clicks we can do money transfers, school applications, ordering new passports, drivers license, learning new languages…to mention only a few of the vast options we have today. As for citizens transactions we could be doing things online, such as renewing car taxes, filing income tax self-assessments, obtaining licenses and permits, paying taxes and more.

Citizens transactions are more and more digitalised and it only makes sense to do so. The transformation the government needs to go through, costs a huge amount of money, which it seems to be willing to spend. The question now is, where is this money spent? Where does the government get its resources from?

Chris Middleton, co-editor of Unified Communications Insight, and founder and editor in chief of the Strategist Magazine, writes:

So the tide seems to be turning against SMEs within the public sector: a cause for serious concern post-Brexit, when the UK will have no choice but to nurture its home-grown talent. Reversing that trend will demand real leadership, but the government may feel it has more important things to do.

What we would like to see is that the project to facilitate digital transformation would at the same time support SMEs and their possibilities to grow and give their valuable contribution to our economy. But despite the plan to allocate the said amount of government spendings to small and medium sized businesses, the public sector seems to prefer to turn to enterprise giants.

Akoni helps businesses make the most of their cash. Register free at AkoniHub.com and follow us on Twitter

Response: Brexit, UK businesses demand minimum three year transition period

Businesses are facing a very difficult time with the implications of Brexit looming on the horizon. Whether for small businesses or larger ones, the changes will inevitably cause huge disruptions in so many different sectors. When it comes to importing goods, businesses will suddenly be faced with border controls, tariffs and therefore with a slowing down of their production, in addition to further higher costs involved. Of-course this is only one aspect that will prevent businesses from growing and our collective economy prospering as a result.

“Uncertainty” is a term we hear all the time now. The government is not able to provide any insight into what we will have to deal with in the next few years and it is leaving everyone guessing. Experts provide their predictions, usually based on their personal preferences of leaving or remaining in the EU.

Whatever the outcome of the Brexit negotiations will be, businesses will need time to adjust. Even if the arrangements are clear within the next months, businesses must be given a chance to function within the new regulations and see what sort of adjustments they will have to make.

Surely it is in everyone’s interest to cause minimal damage and support our businesses with smooth transitions, as much as possible. We also believe that some sense of support and positive actions towards small and medium sized businesses would do so much to encourage the morale of the brilliant entrepreneurship in this country.

We at Akoni are not only in the business of supporting SMEs in maximising their cash returns but, we are a business in our own right that may be effected by cross border financial and business regulations in the future.

Akoni helps businesses make the most of their cash. Register free at AkoniHub.com and follow us on Twitter

 

Small Business Grants: No-strings-attached SME financing done right

GrowthBusiness.co.uk’s sister website SmallBusiness.co.uk has introduced a new initiative giving away £5,000 in a regular competition.

Business growth is almost entirely dependent on healthy cashflow. Research from the Federation of Small Businesses (FSB) shows that more than 35 per cent of small businesses to run into cashflow difficulties, forcing one in three to use their overdraft facilities.

At the more extreme end of the situation, cashflow issues can cause businesses to fail. The FSB estimates that this issue has caused more than 50,000 businesses to close annually.

Read the full Article, written by Praseeda Nair, here.

Akoni helps businesses make the most of their cash. Register free at AkoniHub.com and follow us on Twitter