Nano and microenterprises often face significant challenges in accessing finance due to their limited resources and lack of formal documentation. Many of these small businesses struggle to prepare comprehensive project reports and business plans that meet the stringent requirements of financial institutions and funders. This gap arises from their limited technical knowledge, absence of professional support, and lack of familiarity with formal financial processes. As a result, they often fail to demonstrate their business potential or viability, leading to rejection of funding applications.

This M2i’s app for Business Planning addresses the challenges faced by entrepreneurs in preparing financial statements and complex projections. By simply entering their current business data and key assumptions into the app through their phones, users can leverage the app’s back-end software to generate financial projections and estimate capital requirements automatically. Additionally, this app is a valuable tool for not-for-profits and government programs that support small businesses. It facilitates systematic data collection from entrepreneurs at various intervals, enabling these programs to monitor progress and assess the impact of their initiatives effectively.