Building the Road to Global Small Business Utopia with AI and Fintech

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Could artificial intelligence help global small business owners gain the insights they need to operate more efficiently and grow?

In the updated edition of Fintech, Small Business & the American Dream, Karen Mills looks at evolving technology and how it might power this critical engine of the US economy.

Time to Think Big (and Global) American Small Businesses!

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US micro-, small, and medium-size enterprises, like their global counterparts, struggle with productivity. But a win–win economic fabric connecting all businesses can maximize their potential.

At a glance: 

• Micro-, small, and medium-size enterprises (MSMEs) are the bedrock of the US economy. 
• MSMEs in the United States are only half as productive as large companies, compared with 60 percent in other advanced economies. 
• MSME performance varies across US states and metro areas. 
• Interactions between small and large businesses are key to boosting collective productivity. 

Read the entire report by McKinsey Global Institute, October, 2024.

Today in Global Small Business: Setting Up Your Ecommerce Strategy

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What's affecting me, my clients, my colleagues and other global small business owners:

• Setting up your ecommerce strategy.
• Uniting a divided workforce.
• How does AI think?  We are only starting to understand that.
• Quote of the week:  "People tend to think of the web as a way to get information or perhaps as a place to carry out e-commerce. But really, the web is about accessing applications." – Marc Andreessen
• Best money transfer apps.
• US economy is largely unchanged; but other markets are experiencing turmoil.