Today in Global Small Business: A Federal Program That Encourages Small Businesses to Enter Global Export Market

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

• A federal program that encourages small businesses (in PA) to enter global export market.
• Open, the Google and Tiger Global-backed neobank, is planning to onboard about 10 million small businesses in 3 years as it aims to solve a series of challenges faced by SMEs for managing their business finances, using technology.
• Small businesses hanging by thread?
• Quote of the week:  "Blitzscaling is what you do when you need to grow really, really quickly. It's the science and art of rapidly building out a company to serve a large and usually global market, with the goal of becoming the first mover at scale. This is high-impact entrepreneurship." – Reid Hoffman
• Some tips on taking your business global.
• How businesses can use video translation to grow their global influence.

Neobanks: What They Are, How They Work, and Why They are Burgeoning in Australia

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Over the past couple of weeks, you’ve probably heard the word neobank thrown around a few times, which may have left you wondering exactly what it is, and how it’s different to a traditional bank. If you haven’t had a chance to find out, here’s the rundown.

Here's an example of how this industry is burgeoning.  Australian-based neobank Xinja's CEO Eric Wilson says:  "We expected to do about $120 million in deposits in a year, we’ve done $100 million in 19 days."

Other neobank players ready to disrupt the global marketplace?  86 400 and Judo Bank.  We're in for a ride.