{"id":6244,"date":"2022-09-01T10:32:58","date_gmt":"2022-09-01T10:32:58","guid":{"rendered":"https:\/\/fazz.com\/sg\/?p=1715"},"modified":"2024-01-19T14:54:11","modified_gmt":"2024-01-19T07:54:11","slug":"ceo-letter-fazz","status":"publish","type":"post","link":"https:\/\/fazz.com\/newsroom\/business\/ceo-letter-fazz\/","title":{"rendered":"CEO’s Letter: One Fazz for Southeast Asia"},"content":{"rendered":"\n

Dear fellow colleagues,<\/p>\n\n\n\n


<\/strong>A new era for Southeast Asia<\/strong><\/p>\n\n\n\n

We are standing at the beginning of a new era for Southeast Asia and for our company too.<\/p>\n\n\n\n

When we started this journey riding our motorbikes to visit warungs 6 years ago, many micro-small enterprises were still paying bills in cash, using bulky computer hardware to transfer and receive payments, and doing bookkeeping the old school way \u2013 with pen and paper. <\/p>\n\n\n\n

Fast forward to the present: these enterprises now rely on smartphones to do all these tasks. All this was made possible by the hard work of our team. Thanks to you, over 200,000 businesses across Singapore and Indonesia can now send and receive payments, automate bookkeeping and financial reporting, get credit, and even access blockchain online through their smartphones. For a small business owner \u2013 this is life-changing.<\/p>\n\n\n\n

Armed with a small but powerful financial tool in their back pocket, they have sprinted ahead of the competition, doubling or even quadrupling their incomes, and expanding their businesses. This competitive edge has also helped them to survive the recent economic crisis. <\/p>\n\n\n\n

Seeing warungs across Indonesia benefit from our services, from Sabang to Merauke, is humbling and a reminder of our social responsibility and impact. <\/p>\n\n\n\n

Yet, now more than ever do we need to strengthen our resolve to help them.<\/p>\n\n\n\n

These small enterprises are critical contributors to the Southeast Asian community. <\/p>\n\n\n\n

They represent between 97% and 99% of firms and between 60% and 80% of employment<\/a> across ASEAN countries. They are the lifeblood of the Southeast Asian economy \u2013 and they are under threat. When a small business owner is forced to close down, there is a family behind them that loses their income. <\/p>\n\n\n\n

In spite of best efforts, micro-small enterprises are in an even worse position than they started off with before Covid-19.<\/p>\n\n\n\n