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Can Fintech Turn Around Our Collapsing Economy?

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Companies operating at the nexus of finance/tech, an industry known as fintech, can help small … [+] Deposit Photos You don’t have to read many recent articles to know American companies face a tough road ahead. From out-of-control inflation to supply chain woes, few industries are not taking it on the chin in 2022. Even the Silicon Valley colossi are having a hard go of it. Seemingly indefatigable Facebook is considering layoffs. Google is advising its workers to be “more entrepreneurial.”

If these economic leviathans—raking in billions monthly—are flailing, what hope do America’s small businesses have?

The news is not all bleak, however. A new wave of companies is combining the best of the financial and technology sectors into a hybrid industry called fintech. Even better, they’re enabling small businesses to not only stay alive, but also thrive.

But first, why should we care about the little guys?

Big business gets more headlines, but small businesses are the American economy’s lifeblood. As Martin Rowinski wrote for Forbes earlier this year, “No matter how small it starts—one, two, five, 10 employees—within that town, the city or the county, your small business creates new economies where once there was nothing.” Likewise, the Small Business Association […]

Click here to view original web page at www.forbes.com

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