How Small Business Can Benefit from Village Banking

September 24, 2018 apalazzoups

Here's a community-based solution with lessons for every small business – no matter where they operate.

Ruchi Shah | UPS

Small businesses in the United States fail at an alarming rate. Half close their doors by year five, and 70 percent by year 10. The No. 1 reason? They run out of money.

Compare that to small businesses in Ecuador and Guatemala, which are diligent about managing finances and have a nearly 100 percent loan repayment rate – with 85 percent of borrowers going on to expand their business.

What’s the secret to their success? Ruchi Shah shares a community-based solution with lessons for every small business.

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Ruchi Shah is Director of North America Export Marketing at UPS. She leverages her entrepreneurial mindset to tap into new international growth opportunities and help small businesses expand into global markets. She is constantly in pursuit of the best idea and approach, no matter where or who it comes from.

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