Technology Jobs, Industry Disruptions, and Small Business Financing

2 min read • Mar 10, 2015 • Erik Larson

President Obama recently announced that the federal government is going to invest $100 million towards educating Americans and training them for higher paying jobs, specifically in technology. He said “It turns out it doesn’t matter where you learned code, it just matters how good you are at writing code.”

While we’ve seen coding bootcamps and IT crash courses for a while now, this is a clear signal that companies are starting to overlook your college education and just focus on your technical prowess.

The New Deal

What this reminds me of is the projects during the Great Depression. We had dams and bridges to build, as a result of the New Deal. While the politics of the matter can be argued both ways, at least one thing can’t: the Hoover Dam is a result of this package and it employed a large amount of workers with construction skills.

With these new tech training programs, we’re going to have a large workforce who are trained in C++, Java, HTML and CSS, Ruby on Rails, and whatever else is needed to build new technology. But where will all of these people work?

In America, there is a huge need for building new technology platforms, especially in areas like healthcare and finance. The government is in need of people who can help with cybersecurity and large scale healthcare software. Healthcare companies need software that better tracks patient’s records. Even here at Lendio, we have a growing team of developers working on projects that help small businesses find the right financing for their business.

Small Business Financing and Technology

Every industry I can think of is being disrupted by technology. Computers and mobile phones are helping companies create solutions that weren’t even possible 20 years ago. Small business financing is no exception. We’ve seen online alternative lending companies like Lending Club and OnDeck have huge IPO’s, and there’s a good reason.

People are trusting online companies more and more, and they’re finding that it’s a lot easier to go online and apply for a loan than it is to go from bank to bank and get rejected 10 times. Here at Lendio, we help match small businesses with the right lender. Our platform is literally saving business owners 33 hours (the average amount of time a small business owner spends just looking for a place to apply for a loan). How is that possible? Technology. Our algorithms match borrowers with a lender almost instantaneously because of the software our company has developed. If you’re interested in trying it out, you can check which lenders match your small business for free here. All because of technology.

And we’re just one industry.

As the months and years go by, we’re going to see thousands of jobs created because of new innovative solutions to problems we’ve had for years, but couldn’t solve.  New technology will help reduce traffic, protect your identity, protect the environment, and even save lives. Every business owner should start thinking how your business could disrupt their industry with technology, or at least how you can adopt technology to improve operations.

So my question is, would you hire someone who came from one of these coding bootcamps? What’re your thoughts?




Erik Larson

Erik Larson frequently writes for Lendio about SEO, Digital Marketing, Social Media Marketing, Business Loans, and whatever else strikes his fancy. He can be found on Google+ and Twitter.