Mastercard, Enterprise Nation Launch SMB Support App

Mastercard and Enterprise Nation have teamed up to launch an app designed to help micro and small enterprises (MSEs) get tools and other support from their phones.

The Enterprise Nation: Make a Plan app, has been developed as part of the Strive UK program, which itself is a program from the Mastercard Center for Inclusive Growth, which works with MSEs throughout the U.K.

“The app will direct MSEs to a data-driven ‘one-stop shop,’ which will house relevant resources, programs and digital tools from different support organizations to help founders build and grow their businesses,” the companies said in a news release Monday (May 9). “Businesses can upload their details and to generate a digital business action plan, which they can use to track progress on their phone.”

The companies say the app comes at a time when more than 10% of the U.K.’s working-age adults plan to launch a business in the next three months, the equivalent of about three million people searching for early-stage business support. It also shows a growing trend of people with the ambition to start a business.

In addition, research from Enterprise Nation found that 70% of early-stage businesses want advice on how to build and improve their cash flow plan, while 55% of more mature growing businesses are seeking to set up a financial reporting routine.

Read more: Raistone, Mastercard Streamline B2B Payments, Increase SMB Working Capital

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