Economy Ministry launches app for small businesses

App provides information on loans, grants and foundations, training programs and advice, and even has a handy calculator.

iphones R 311 (photo credit: REUTERS)
iphones R 311
(photo credit: REUTERS)
The Economy and Trade Ministry’s Agency for Small and Medium Businesses on Wednesday launched a mobile application for small and medium-sized business owners.
The app, available for iPhone and Android users, is meant to consolidate and simplify the process of opening and running a business, serving as a hub for various services and important information provided by the ministry.
It provides information on loans, grants and foundations, training programs and advice, and even has a handy calculator to help people lay out a business plan and figure out cash flow.
“We’re taking an important step today toward consolidating information, accessibility for all and data transparency,” Economy and Trade Minister Naftali Bennett said.
“The knowledge and tool will allow business owners to realize benefits, receive assistance and training and lead the business toward growth.”
Accessing the necessary information and tools for starting a business was one of the leading roadblocks new entrepreneurs faced, he said.
The agency’s director, Ran Kiviti, said in an information age, there should not be a need for agents or middlemen to access the basic know-how needed for starting a business.
“We want the small shop to have the same abilities as the international chains,” he said, “and not because it managed to acquire data gathering services, but because the information is open and accessible and is built on the most updated technological infrastructure.”
Bennett has made small and medium-sized business growth a central guiding point for his tenure in the ministry. Small and medium sized businesses represent 99 percent of all businesses in Israel and employ about 47% of private-sector employees.