2022 was Mkono's most impactful year yet.
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How entrepreneurs say Mkono has helped them
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Cash flow and pricing
Mkono helped entrepreneurs think more strategically about down payment to avoid fronting large production costs and better manage cash flows, creating added value to their customers and employees Before, I was reinvesting into the business and didn't pay myself a monthly salary. We've implemented measures and feel more at ease with our finances |
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Vertical integration
Mkono provided entrepreneurs with upfront capital to fund purchase of tools, unlocking vertical integration. This improved quality control as well as profit margins, allowing entrepreneurs flexibility with pricing and employment "[The loan] has helped us do everything in house [and improve] the quality of the job. Before, 50% of the time, we had issues with material, finishing, lost shipment, and timelines. Now, we have a dedicated contractor." |
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Business pivot
Several entrepreneurs experienced a decline in sales at the start of the pandemic. Most struggled with keeping existing clients, but also with acquiring new ones to drive growth. Mkono helped find new opportunities in a time of crisis Mkono did not jump to conclusions or give unsolicited advice. They took time to understand my business. We found a solution that could work for me. It was impressive. |
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Marketing and branding
Many entrepreneurs did not have dedicated and/or scalable customer acquisition strategies, and the pandemic caused even further challenges to retaining clients or finding new ones. Mkono helped stand up an online presence to source new clients We've fully increased our online presence [through a new website]. We started getting clients through a new website. [...] This is really helping us out. |
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