“It is important to make decisions early that do scale, even when that point of scaling seems incredibly far off in the future.”

In this episode of Greater than the Sum, we are joined by Canadian fintech expert and writer of the Canadian Fintech newsletter, Tal Schwartz.

Tal gives his perspective on the innovative financial technologies that are reshaping the landscape for small businesses. Together with Plooto’s Mark Assini, he explores the challenges SMBs face when it comes to financial management. They look at the importance of embracing technology and why all small businesses, from ambitious start-ups to “Mom and Pop entrepreneurs,” should prioritize choosing fintech solutions that will allow them to scale when the time comes.

Tal also gives recommendations on the best fintech solutions for SMBs and the considerations when selecting and implementing them. We gaze a little into the future and the market disruptors coming down the pipeline, like AI and open banking, and the impact they will have on both the ecosystem and small businesses.

This episode focuses on:

• The innovation coming from the Canadian fintech sector
• Why SMBs need to consider scaling from day one
• How better financial controls result in better outcomes
• Choosing the right fintech solutions for your SMB
• Emerging trends like AI, open banking, and automation

Greater than the Sum is the interview series from Plooto that helps small business owners and operators – and the accountants who serve them – remove the guesswork from their business finances and gain back the time to focus on what really matters.

You can check out Plooto.com for resources, tips, and advice on how to get control over your cash flow.

Links from the episode

Check out the resources mentioned in the interview with Tal:

Mapping the best finops stack for your business

The Canadian FinTech newsletter

The Five Dysfunctions of a Team by Patrick Lenciconi

Chapter Markers

[1:13] Uncovering Canadian fintech: Tal’s mission to showcase Canada's thriving financial services technology industry.

[2:56] Banking oligopoly disruption: How new players are challenging the dominance of six major banks.

[4:15] SMB financial challenges: Common pitfalls faced by Canadian small businesses and overcoming them.

[6:26] Fintech tools for success: The technologies empowering SMBs to take control of their finances.

[11:16] Fewer mistakes and better decisions: The benefits of implementing strong financial controls.

[12:33] Navigating the ecosystem: Considerations and misconceptions when selecting fintech tools for your SMB.

[20:02] AI revolution in accounting: The impact of Artificial Intelligence on financial management for SMBs.

[23:34] The rise of open banking: How small businesses can capitalize on the opportunities.

[28:03] Automation in payment operations: Streamlining processes to drive business growth.

[28:48] Advice for aspiring entrepreneurs: What it takes to build a business in the Fintech space.