Strategic Partnership To Keep Small Business In Business

Melio, a leading B2B payments platform for small businesses, today announced that Rhonda Abrams – one of the nation's foremost small business experts – is partnering with Melio to provide her expert insights to small businesses.

"As National Financial Literacy Month begins, we are honored that small business advocate and expert Rhonda Abrams has agreed to partner with us to impart her wisdom and unique perspective to the small businesses community – especially at a time of tremendous economic uncertainty for Main Street," said Melio Chief Business Officer Prashant Gandhi. "Now more than ever, small businesses are in dire need of help, and financial literacy is critical to the sustainability of small businesses as they overcome these economic headwinds. By partnering with Rhonda Abrams, we are doubling down on our commitment to our small business customers by providing them with valuable resources, expertise, and support that can help them succeed."

Through this partnership, Rhonda will publish content in Melio's new Guides page. This page will provide resources and advice to small business owners who are starting a business, looking to grow their business, identifying ways to improve their financial health, and more. Through these resources, Rhonda will offer advice on how small businesses can optimize their financial health by reducing costs, increasing profits, and better managing their cash flow.

This partnership is launching during a time of rising economic uncertainty, with small businesses continuing to face high interest rates and inflation as well as reduced access to capital due to the aftermath of the recent banking crisis. According to the U.S. Census Bureau, in March, two-thirds of all small businesses rated their performance as "below average" or "poor," with small businesses that have four or fewer employees reporting the weakest levels of performance compared to their counterparts.

"Small businesses are the backbone of the U.S. economy, but small business owners face many obstacles as they start and grow," said Rhonda Abrams. "I am thrilled to be officially partnering with Melio to help increase their chance of success – giving small businesses tools they need to succeed and thrive, even in uncertain economic climates."

Rhonda's first Melio article, The Best Ways For Your Small Business To Use Credit Cards, will be posted during National Financial Literacy Month – a month dedicated to increasing awareness and promoting education about personal finance. Many small business owners, in particular, lack the financial education to efficiently run their businesses and do not have the resources of a CFO, bookkeeper, or accountant. Although 40% of small business owners consider themselves financially illiterate, 81% report doing their business's finances themselves. Free online resources, including those from small business experts like Rhonda Abrams, help small business owners take control of their financial health and better compete against larger companies in the marketplace.

Melio is a leading B2B payments technology company that enables small and medium-sized businesses to quickly and seamlessly transfer and receive payments, helping them improve cash flow and workflow. As one of the fastest-growing B2B payment solutions in the United States, Melio is transforming how money is moved between businesses. It serves financial institutions and software companies that want to provide Accounts Payable and Receivable products for their small business customers. Melio was founded in 2018, with headquarters in New York, an R&D center in Tel Aviv, and western U.S. headquarters in Colorado.

Rhonda Abrams is widely recognized as one of America's leading small business experts and passionate small business advocates. The entrepreneurship/small business columnist for USA Today, Rhonda was named a "Top 30 Global Guru for Startups. Rhonda's books have sold more than 2 million copies and have been translated into 30 languages. Her books include America's best-selling business plan guide, Successful Business Plan: Secrets & Strategies, which was recently named one of the 100 best business strategy books of all time. She has started, built, and sold four businesses.