A paper published today by the World Economic Forum highlights the global waste of talent and growth potential due to the banking system’s inability and/or unwillingness to provide funding to the small-to-medium business community. I might add start-ups and fast growth companies.

Around the globe, SMEs often have one major pain point – dealing with their finances and ensuring appropriate funding. According to the International Finance Corporation IFC (2015): Enterprise Finance Gap Database, a ‘funding gap’ of more than $2 trillion exists for small businesses in emerging markets alone.

Let us look at one of the most developed countries on the globe: Australia, where the situation of funding 2.1 million hard working SMEs and start-up entrepreneurs is particularly dire. Against the background of all the advertising and lip services of the big banks about backing the business community – remember all the slogans – try to get a business loan as a small business owner or growth entrepreneur without offering your house as collateral. Good luck!

Yes it is hard, because banks would have to find ways to really understand the businesses in so many venues of life, stages of maturity, navigating accelerating change. Banks would have to fend of the instinct of leaning back, enjoying and defending the status quo and $29B in oligopoly profits (of the four big ones alone).

We here at Tyro, a growing number of entrepreneurs joining the Tyro Fintech Hub and others connecting to the growing fintech ecosystem across the nation, we will change this. It might take more time and more effort, but we are going to resolve the challenge of providing consumers and businesses with fair, transparent and valuable banking services.


I liked Chris Brycki’s prediction with regards to all the rip-offs that won’t exist in 2020. That is the spirit. Now is the time to join the fintech start-up movement as entrepreneur, mentor, investor, politician and journalist. Innovation, disruption and growth is on the national agenda.