Welcome to another edition of the (expanded director’s cut of the) Merchant Advisor Newsletter! We welcome all our clients, friends and fellows in the small business universe to June with us. This month, our thoughts turn to new ideas for a new generation of small businesses.
As summer begins in earnest, some of the common sights in many towns and cities across Canada include the gowns, mortarboards and smiling faces of recent college and university graduates. Many of these grads are poised to become the next generation of Canadian entrepreneurs and independent small businesspeople. They bring with them a suite of experiences and skills unique to their peer group: awareness of crowd and cloud, understanding of the digital marketplace and the power of social authenticity, and the wherewithal to build unique things out of limited resources.
They may also face a set of financial challenges that demand the development of new business strategies, optimized for a world in which student debt, increasing costs of living, and intense competition are becoming more important realities. Forward-thinking options should exist to help impel this new class of business-minded young professionals toward success.
For this group, it will be critical to foster the establishment of reputable credit and capital in order to see their ideas grow to fruition. As businesses become more technologically agile and efficient, saving money and working with the evolving trends in consumer behaviour such as e-commerce and digital payments, their funding solutions should be designed with the same agility and efficiency in mind.
Your small business wants to cut down on delays and paperwork, optimize its inventory scheduling, minimize fees and surcharges, and most importantly keep the focus on your customers. As new businesses emerge and begin to build connections in their communities, the large-scale banking landscape in Canada has admittedly been slow to adapt and to provide opportunities for these businesses to find the financial resources they need. Alternative lenders such as Merchant Advance Capital strive to connect with businesses and form productive relationships that will allow them to grow and succeed.