Small businesses are the lifeblood of any economy, creating wealth and employment opportunities – and supporting economic growth at grass-roots level. This type of entrepreneurship has always been valued in the United States, where the founders of startups can aspire to become leaders of Fortune 500 companies if they hit on a successful niche.
But are small business owners being unfairly hampered by the raft of regulations introduced following the financial crisis of 2008? It’s an issue that’s hitting the headlines at the moment as President Trump reaffirms his pre-election promises to de-regulate the financial services industry.
What do Donald Trump and Johnny Depp have in common? Superficially speaking, not much. But recent events around the thorny issue of whether or not financial advisers should be required to put their clients’ interests before their own has placed POTUS and Hollywood star on opposite sides of one of the hottest discussions of the year so far.
FinTech and the Presidential Election Will Try to Kill You, But Won’t Succeed Just Yet
Financial manufacturers including banks, factors and all manner of secured and unsecured lenders must prepare for accelerating uncertainty in 2016. Global economic turbulence, a rapidly shifting lending landscape full of FinTech start-ups, and the looming presidential election could stand in the way of more champagne and caviar. There are plenty of reasons to ignore Einstein’s famous adage now: prepare at once for war and peace.
There is also much good to toast come December 31. Lenders that kept their foot on the accelerator over the past five years are enjoying record originations and rising valuations. And the party is likely far from over.