Unlocking Opportunities: Investigating Fintech's Role In Facilitating Access To Financing For Small Businesss In Coimbatore

Abstract

This research investigates how FinTech might improve small businesses' access to funding in Coimbatore, a city renowned for its thriving startup scene. Small businesses are increasingly relying on FinTech solutions to get beyond conventional hurdles to capital access as a result of the growth of digital financial services. The research investigates the efficacy of several FinTech technologies, such as digital lending platforms and mobile payment systems, in enhancing funding opportunities and financial stability by means of a survey administered to 150 small business owners. According to the research, a sizable majority of small businesses have incorporated FinTech solutions, with digital lending platforms having the most influence. But obstacles like ignorance and legal restrictions still exist, making wider adoption difficult.The study comes to the conclusion that while FinTech presents significant prospects for small businesses in Coimbatore, resolving these issues is essential to realising these businesses' full potential as engines of economic growth.