Why We Built Khyte: A New Way to Support Local Businesses

Did you know that one in five businesses fail within the first year? There are countless reasons that businesses go under, many of which might be out of your control. Limited resources, such as restricted access to capital and support, can take a toll on your business, especially if you’re just starting out.

Unfortunately, access to these basic resources seems to be reserved for the well-connected or wealthy. This is why we built Khyte. We aim to introduce a new approach to supporting local businesses by providing them with a chance to raise funds from their communities and neighbourhoods.

The Problems

Starting and growing a business isn’t easy. While some challenges are easily overcome, others can disrupt the success and scalability of your business. At Khyte, we’ve done extensive research on the top challenges business owners experience. Here’s what we found:

Lack of Visibility – Posting your company on local business platforms only goes so far. Especially if you live in a small town, community investing might be nonexistent. This lack of visibility can limit your options when it comes to finding new customers and capital.

Limited Funding – Small business funding can be difficult, if not impossible, to secure. This makes it no surprise that 82% of small businesses fail due to cash flow problems. Traditional funding excludes countless business owners, resulting in stagnant growth and frequent shortages.

Difficult Hiring – Startup job listings can go unnoticed. After all, why would someone take a risk that your company will succeed? When first starting out, your small business’s benefits package won’t be as competitive as a large enterprise. This can lead to delays and difficulty in finding much-needed talent.

The Solution – Khyte

Is your business facing challenges securing funding, gaining visibility, or scaling? That’s exactly why we built Khyte. Khyte was created to make it easier for real people to build real businesses, not just the ones that make headlines or get VC funding. We’re enabling anyone with an idea and drive to find support, resources, and opportunities – starting right in their own neighborhoods. On Khyte, users can:

List or discover small businesses

Raise funding or invest in real ventures

Khyte is free to join and is built around the idea that strong businesses start with strong communities. We don’t believe in restricting resources for professional investors. Instead, anyone can be a supporter and join the community.

Who It’s For

Khyte is a global platform designed to support small and local businesses, startups, and enterprises by connecting them with everyday supporters and investors in their neighbourhood. Here’s who we built Khyte for:

Small, local businesses

Startups

Solo founders

Entrepreneurs

Supporters

Regardless of whether you are an investor looking to make an investment in the community or an entrepreneur with a great idea, Khyte is for you.

Why Now?

Community-led funding and decentralising opportunities is important. Running a successful business doesn’t mean you need to be in Silicon Valley. Through Khyte, you can connect with other businesses and like-minded individuals through the direct messaging feature. There’s no need to travel to big cities or track down exclusive lenders.

Getting Started

If you’re ready to get started with small business funding or community investing, head over to Khyte today to explore the platform. For more information about upcoming features and opportunities, sign up for our newsletter. Remember, joining Khyte is free! Every venture is welcome.