Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

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Analysis of the Impact of Fintech on Small and Medium-sized Enterprises

Authors
Yuxin Sun1, †, *, Linglin Ying2, †, Jie Zhang1, †
1Hangzhou New Channel School Hentong Bldg, No. 328 Yan’an Rd, Xiacheng Dist, Hangzhou, 310005, China
2Jinhua NO.1 High School, Zhejiang, Jinhua, 321000, China
†

These authors contributed equally.

*Corresponding author. Email: guanghua.ren@gecacademy.cn
Corresponding Author
Yuxin Sun
Available Online 26 March 2022.
DOI
10.2991/aebmr.k.220307.132How to use a DOI?
Keywords
Fintech; Small and medium-sized enterprises; Alibaba; Monopoly; Financial market
Abstract

Since its creation in 1838, Fintech has given a huge boost to the financial sector. Especially in recent years, Fintech innovation has developed rapidly, which has had a multifaceted impact around the world. This paper is going to study how Fintech innovation influences small and medium-sized enterprises. The research analyses the factors that drive the development of Fintech innovation at the beginning using PEST. The following article takes Alibaba as an example to analyze the impact on small and medium-sized enterprises, specifically from the advantages and disadvantages. At the end of the paper, the future development of Fintech is also anticipated. The solutions to the problems produced by rapid Fintech innovation of huge firms like Alibaba come up. This research finds that Fintech helps small and medium-sized enterprises develop in many aspects to some extent. Conclusion: there are also some disadvantages that Fintech has increased the investment risk and created a serious monopoly. However, in another way, the known disadvantages mean huge space for Fintech development. It suggests that financial firms and talents should put effort into solving problems and providing better market conditions, then the future development of Fintech innovation will be much brighter.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
10.2991/aebmr.k.220307.132How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

risenwbib
TY  - CONF
AU  - Yuxin Sun
AU  - Linglin Ying
AU  - Jie Zhang
PY  - 2022
DA  - 2022/03/26
TI  - Analysis of the Impact of Fintech on Small and Medium-sized Enterprises
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 822
EP  - 826
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.132
DO  - 10.2991/aebmr.k.220307.132
ID  - Sun2022
ER  -