ATLANTA, Ga. – March 27, 2024 – FINSYNC proudly announces the launch of the pioneering Connected Entrepreneur Ecosystem, a groundbreaking initiative aimed at revolutionizing support and success structures for small businesses. In a landscape where 40% of businesses fail within the first three years, nearly 50% within five years, and 65.8% within 10 years, FINSYNC is leading the charge to empower small business entrepreneurs to beat these odds to become thriving, successful establishments.
The culprit behind so many small business failures is the lack of foundational support and the necessary financial assistance for growth and sustainability. In response, FINSYNC embarked on a journey, acquiring CO.STARTERS, a renowned leader in providing entrepreneurs with comprehensive content, course materials, tools, and community support to launch a business and thrive. This strategic partnership, bolstered by collaborations with non-profit organizations and financial institutions, forms the heart of this all-encompassing solution.
“By fostering partnerships between financial institutions and community organizations, we’re equipping entrepreneurs with the tools and resources they need to create growth from all corners of the country,” remarked Jose Alfaro, Managing Director of CO.STARTERS.
“With this comprehensive offering, we are well positioned to help a lot more people and drive transformative economic impact in the lives of individuals and communities,” added Tucker Mathis, CEO of FINSYNC.
This integrated ecosystem guides hopeful entrepreneurs and growing businesses from conception to execution, equipping them with the confidence, resources, and tools essential for qualifying for financial assistance and support. This empowering solution resonates strongly with financial institutions, filling a void in support systems for new businesses. Community-focused institutions such as WaFd Bank have embraced the FINSYNC CO.STARTERS program, implementing it across their 200 plus branches and investing more than half a million dollars to ensure aspiring entrepreneurs have access to essential resources, support and capital.
Cathy Cooper, Executive Vice President and Chief Consumer Banker at WaFd Bank, affirmed “Small businesses are the bedrock of our economy. With FINSYNC and CO.STARTERS, we’re committed to fostering communities where business dreams can thrive, fostering growth for the cities and towns around them. This partnership will bring training programs to over 150 communities and support some 1,500 entrepreneurs, increasing their odds of success. WaFd Bank intends to focus our partnerships on organizations that support women and minority owned businesses across our nine-state footprint.”
Empowered by this connected ecosystem, entrepreneurs can:
- Streamline the transition from business idea to action
- Simplify financial operations
- Access options for capital online
- Expedite payments with FINSYNC’s CollectEarly feature
- Pay contractors, employees, and payroll taxes
- Access a network of other entrepreneurs and advisors
The results to date speak volumes:
- New business creation increasing in over 1,000 counties in the US
- 95% of CO.STARTERS program graduate businesses are still active
- 70% of graduates generating a profit
- 150% increase in annual sales
- 30% reduction in administrative time and costs with the FINSYNC platform
Discover how CO.STARTERS and FINSYNC together are empowering millions of entrepreneurs to achieve their small business dreams, at FINSYNC.com.