A recent survey by Float Financial highlights financial and operational challenges facing small and medium businesses (SMBs) in Canada. Although 87% of Canadian SMBs expressed confidence in their performance, two-thirds report ongoing cash flow struggles. Float’s CEO, Rob Khazzam, points to outdated banking practices and insufficient financial tools as key obstacles stunting business growth.
The survey also found 60% of SMBs feel more optimistic than in 2023, but high operating costs and lack of access to capital persist. Float believes fintech innovations will better serve SMBs by addressing key areas of speed, access, and ease.
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