Remy Blaire joins Elizabeth Gore, co-founder and President of Hello Alice, at the Money20/20 conference in Las Vegas to discuss the current landscape of small business funding, noting a significant increase in new small business launches, yet a concerning lack of accessible capital for growth. Elizabeth expresses optimism about open banking, which could provide better loan opportunities for small business owners, especially those with less-than-ideal credit scores.
Discover how Hello Alice supports small businesses by offering a free business health score that helps owners track their financial fitness and improve their cash flow. Elizabeth highlights the importance of artificial intelligence (AI) in finance, noting that small businesses are slower to adopt these technologies compared to larger enterprises. They discuss the need for affordable and accessible AI tools, as well as the importance of education to help small business owners effectively integrate these tools into their operations.
Finally, they touch on the challenges female founders face in securing venture capital, with funding for women dropping below 2%. Elizabeth emphasizes the need for systemic change in the investment landscape and encourages partnerships as an alternative means of support for women entrepreneurs.