CEO Seongbong Lee, Former Accountant, "Learning Coding to Launch Platform Business"
Plans to Provide Management Services to Naver Partner Stores
Targets 3 Million BizNup Customers by 2025
"We will serve as the hands and feet for busy small and medium-sized business owners, assisting with various management tasks such as tax, accounting, and labor. Through the free platform 'BZNAV,' we plan to secure 3 million client companies by 2025."
Lee Seongbong, CEO of G Enterprise (photo), operates the platform 'BZNAV' that supports corporate management for small businesses. He said, "I wanted to create a management service that allows small business owners, who face difficulties with complex accounting and tax terminology and administrative tasks, to focus on their core business." Based on his experience as a certified public accountant, he learned coding himself and started the platform business in April 2016. He designed a user-friendly UX and UI for small business owners lacking specialized knowledge and used terminology that matches the users' level to make information easy to understand.
BZNAV currently has 150,000 customers, over 50% of whom are one-person companies. Since the COVID-19 pandemic, the demand for BZNAV has surged as the one-person startup boom with small capital has increased. This year, the number of users has grown about 2.5 times compared to last year. CEO Lee said, "We received positive feedback because we provide various services beyond simply showing sales status, such as business analysis reports, free consultations with tax accountants, issuing tax invoices, and checking scheduled payment amounts."
BZNAV allows business owners to input their Hometax and card company account information to receive real-time business reports that include sales and purchase details, settlement analysis, card expenditure analysis, and estimated tax amounts. Additionally, BZNAV supports one-on-one free consultations with affiliated partners such as tax accountants, labor attorneys, and accountants. It also enables integrated inquiries of sales and expected deposits not only from their own online stores and open markets but also from various delivery applications.
Recently, the service to easily file and pay comprehensive income tax in May was launched for business owners. CEO Lee explained, "BZNAV is a service that enables business owners to grasp their business status at a glance and proactively manage their business by addressing any shortcomings."
Naver, which is promoting co-growth with small and medium-sized business owners, identified G Enterprise as a partner early on. Naver and Naver Financial invested a total of 6 billion KRW in the company, and in July, the two companies are collaborating to provide BZNAV services to Naver’s registered sellers. In addition to Naver, they have attracted cumulative investments of 12 billion KRW from institutions such as the Korea Credit Guarantee Fund and Busan Bank, and are currently conducting Series B funding.
CEO Lee said, "Some business owners worry whether the service can be sustainably operated since it is provided for free," adding, "We have also received feedback like 'I would pay for it if it means the service continues.'" He stated, "We are currently generating revenue through the subscription-based service 'BZNAV Pro' targeted at accountants and tax accountants," and added, "We plan to complete a revenue model by launching more advanced management services based on tax automation technology in the future."
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