BRIDGING THE FINANCIAL LITERACY GAP
ENTREPRENEURSHIP EMPOWERS EVERYONE
TM/MD
Startup Canada
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Written by Brian Yining Wu, Shannon Fox and Jana Makar. Photographs by Cyprian Szalankiewicz. Designed by Paul Dukes. © 2013, Startup Canada 50 O’Connor St. Suite 300, Ottawa ON K1P 6L2
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Table of ConTenTs Preface Minister Remarks Keynote Panel Discussion summary Pitch summary
Conclusion appendix a – supporting blogs
appendix b – Comprehensive list of Resources
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PRefaCe
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MinisTeR ReMaRKs
By Maxime Bernier, Minister of State for Small Business In his remarks, Minister Bernier outlined the government’s ongoing work to improve Canada’s business environment.
iMPRoving CusToMeR seRviCe
CuTTing The ReD TaPe
final WoRDs
The one-foR-one Rule
KeynoTe • starting out •
The ReseaRCh finDings tutorials •
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TaKing aCTion
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ConClusion
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Panel DisCussion suMMaRy PanelisTs:
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• • gary Rabbior
laking
• lance laking • • Julia Deans • MoDeRaToR: • Rick spence
on boosTing finanCial liTeRaCy aMong neW enTRePReneuRs
Rabbior
Deans
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on Why The finanCial liTeRaCy RaTe is loW aMong enTRePReneuRs
on behavioRal Change MeThoDologies anD aWaReness of finanCial liTeRaCy’s iMPoRTanCe
Rabbior
Rabbior
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Cates
on The aDoPTion of finanCial ManageMenT TeChnology
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Deans
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• Deans
on The neeD foR high exPeRTise in oRDeR To unDeRsTanD finanCial infoRMaTion •
Cates
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on The iMPliCaTion of finanCial liTeRaCy in Raising PRivaTe equiTy
Rabbior
laking
laking •
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on The effeCT of finanCial analysis on enTRePReneuRial oPTiMisM
laking
Cates
Cates
Deans
final WoRDs Rabbior
PiTCh suMMaRy Four Canadian startups were selected as Finalists from across the Canada to pitch for the the Financial Literacy Startup Award and contend for the People’s Choice Award, sponsored by Intuit Canada.
TRaCK ReCoRD •
CanDiDaTes: • • • •
fuTuRe Plans •
sCoTT annan, aCCel.io/sTaRTuPPlays Pain •
MaTheW geoRghiou, MeDiasPaRK/govenTuRe WoRlD Pain •
soluTion: aCCel.io •
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soluTion: govenTuRe WoRlD •
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TRaCK ReCoRD • soluTion: funDiCa • • •
fuTuRe Plans •
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TRaCK ReCoRD •
MiKe lee, funDiCa
fuTuRe Plans •
Pain •
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alex glassey, sTRaTPaD Pain •
TRaCK ReCoRD • • world •
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soluTion: sTRaTPaD •
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fuTuRe Plans •
PeoPle’s ChoiCe AwArd winner - strAtPAd
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ConClusion Call To aCTion •
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aPPenDix a – suPPoRTing blogs finanCial sMaRTs Can MaKe oR bReaK sTaRTuPs By Jana Makar | Startup Canada Communications Manager Thursday, March 7, 2013
seCReT To suCCess? finanCial KnoW-hoW
By Julia Deans | CEO, Canadian Youth Business Foundation (CYBF) Tuesday, February 26, 2013
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sPoTlighT: sCoTT annan, aCCel.io & sTaRTuPPlays By Shannon Fox | Startup Insights Manager Thursday, February 21, 2013 •
scott annan accel.io and startupPlays.com @accelio / @startupplays / @scottannan
WhaT MoTivaTeD you To sTaRT aCCel.io?
Do you feel TheRe is Too MuCh eMPhasis PlaCeD on goveRnMenT in solving The PRobleMs of enTRePReneuRs? Whose Role is iT: MeDia, eDuCaTion, goveRnMenT oR sTaRTuPs TheMselves? ability!
WhaT is The biggesT lesson ThaT you have leaRneD fRoM builDing youR businesses?
WhaT Do you feel is The gReaTesT Challenge ThaT enTRePReneuRs faCe in CanaDa?
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WhaT aDviCe Do you have foR enTRePReneuRs Who aRe sTaRTing uP ToDay?
WhaT Do you feel is The gReaTesT Challenge ThaT enTRePReneuRs faCe in CanaDa?
sPoTlighT: MiKe lee, PaRTneR aT funDiCa By Shannon Fox | Startup Insights Manager Thursday, February 21, 2013
Do you feel TheRe is Too MuCh eMPhasis PlaCeD on goveRnMenT in solving The PRobleMs of enTRePReneuRs? Whose Role is iT: MeDia, eDuCaTion, goveRnMenT oR sTaRTuPs TheMselves?
Mike lee Partner, fundica @fundica
WhaT is The biggesT lesson ThaT you have leaRneD fRoM builDing funDiCa? Why Was funDiCa CReaTeD?
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WhaT aDviCe Do you have foR enTRePReneuRs Who aRe sTaRTing uP ToDay?
WhaT MoTivaTeD you To sTaRT youR fiRsT business, MeDia sPaRK?
sPoTlighT: MaTheW geoRghiou, MeDiasPaRK
WhaT Do you feel is The gReaTesT Challenge ThaT enTRePReneuRs faCe in CanaDa?
By Shannon Fox | Startup Insights Manager Thursday, February 21, 2013
Mathew georghiou founder, Mediaspark, goventure, and goventure World @Mathewgeorghiou Do you feel TheRe is Too MuCh eMPhasis PlaCeD on goveRnMenT in solving The PRobleMs of enTRePReneuRs? Whose Role is iT: MeDia, eDuCaTion, goveRnMenT oR sTaRTuPs TheMselves?
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WhaT is The biggesT lesson ThaT you have leaRneD fRoM builDing MeDia sPaRK, govenTuRe anD govenTuRe WoRlD?
WhaT MoTivaTeD you To sTaRT sTRaTPaD?
WhaT aDviCe Do you have foR enTRePReneuRs Who aRe sTaRTing uP ToDay?
WhaT Do you feel is The gReaTesT Challenge ThaT enTRePReneuRs faCe in CanaDa?
sPoTlighT: alex glassey, CReaToR of sTRaTPaD By Shannon Fox | Startup Insights Manager Thursday, February 21, 2013 alex glassey Creator of stratPad @alexglassey / @stratpad
Do you feel TheRe is Too MuCh eMPhasis PlaCeD on goveRnMenT in solving The PRobleMs of enTRePReneuRs? Whose Role is iT: MeDia, eDuCaTion, goveRnMenT oR sTaRTuPs TheMselves?
WhaT is The biggesT lesson ThaT you have leaRneD fRoM builDing sTRaTPaD?
WhaT aDviCe Do you have foR enTRePReneuRs Who aRe sTaRTing uP ToDay?
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aPPenDix b – CoMPRehensive lisT of ResouRCes goveRnMenT & non-PRofiT ResouRCes
TasK foRCe on finanCial liTeRaCy
inDusTRy CanaDa – JusT foR businesses
http://www.ic.gc.ca/
CanaDian CenTRe foR finanCial liTeRaCy finanCial ConsuMeR agenCy of CanaDa
http://www.fcac-acfc.gc.ca/
banKing & finanCe inDusTRy ResouRCes CanaDa business neTWoRK
http://www.canadabusiness.ca/
geT gRoWing foR business PRogRaM
http://getgrowingforbusiness.scotiabank.com/
sCoTiabanK sMall business Tools anD ResouRCes
http://www.scotiabank.com/ca/en/0,,593,00.html Cybf business ResouRCe CenTRe
http://www.cybf.ca/resources/
RbC Royal banK – DefiniTive guiDes foR sMall business
TD CanaDa TRusT – sMall business ResouRCe CenTRe
http://www.tdcanadatrust.com/products-services/small-business/ resources.jsp bMo sMall business ResouRCes
http://www.bmo.com/home/small-business/banking/resources/ business-resources CibC sMall business ResouRCe CenTRe
https://www.cibc.com/ca/small-business/resource-needs.html
booKs CanaDian sMall business KiT foR DuMMies
MaKe suRe iT’s DeDuCTible: 4Th eDiTion
http://www.amazon.ca/Make-Sure-Deductible-Fourth-Edition/ dp/0071714839/ref=pd_rhf_dp_s_cp_1_G577
http://www.amazon.ca/Canadian-Small-Business-Kit-Dummies/ dp/0470936525/ref=sr_1_3?ie=UTF8&qid=1360711917&sr=8-3
• • CoMPleTe CanaDian sMall business guiDe: 4Th eDiTion
http://www.amazon.ca/Complete-Canadian-Small-Business-Guide/ dp/0071784713/ref=sr_1_4?ie=UTF8&qid=1360711917&sr=8-4
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ENTREPENEURSHIP EMPOWERS EVERYONE
TM/MD