Bird - Bridging the gap between secondary and tertiary education: the role of information literacy
Bridging the Financial Literacy Gap
-
Upload
startup-canada -
Category
Documents
-
view
215 -
download
0
description
Transcript of Bridging the Financial Literacy Gap
![Page 1: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/1.jpg)
ENTREPRENEURSHIP EMPOWERS EVERYONE TM/MD
BRIDGINGTHE FINANCIALLITERACY GAP
![Page 2: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/2.jpg)
2
Startup Canada�LV�D�QDWLRQDO��JUDVVURRWV��HQWUHSUHQHXU�OHG��QRQ�SURȴW�RUJDQL]DWLRQ�WKDW�DGYDQFHV�HQWUHSUHQHXULDO�VXFFHVV�LQ�&DQDGD�E\�HGXFDWLQJ�
• (QWUHSUHQHXUV�RQ�ZKHUH�WR�JR�DQG�KRZ�WR�DFFHVV�VXSSRUW�WR�WDNH�WKHLU�VWDUWXS�WR�WKH�QH[W�OHYHO�
• (QWUHSUHQHXU�FRPPXQLW\�OHDGHUV�RQ�KRZ�WR�FXOWLYDWH�YLEUDQW�VWDUWXS�FRPPXQLWLHV�
• $FDGHPLF��LQGXVWU\�DQG�JRYHUQPHQW�OHDGHUV�RQ�KRZ�WR�EHWWHU�VXSSRUW�&DQDGLDQ�HQWUHSUHQHXUV��DQG�
• 0HGLD�DQG�WKH�&DQDGLDQ�SXEOLF�DERXW�WKH�YLWDO�UROH�WKDW�HQWUHSUHQHXUV�SOD\�LQ�FUHDWLQJ�D�PRUH�VXVWDLQDEOH�DQG�SURVSHURXV�&DQDGD�
(VWDEOLVKHG�LQ�0D\�������6WDUWXS�&DQDGD�KDV�HDUQHG�D�UHSXWDWLRQ�DV�D�WUXVWHG��QRQ�SDUWLVDQ�IDFLOLWDWRU��FDSDEOH�RI�EULQJLQJ�WRJHWKHU�D�ZLGH�YDULHW\�RI�VWDNHKROGHUV�LQ�SURGXFWLYH�GLDORJXH��ΖWV�UHVHDUFK�SURJUDP�SURYLGHV�D�QHXWUDO�EDVH�WR�LQIRUP�FROOHFWLYH�GHFLVLRQ�PDNLQJ��%\�SURPRWLQJ�LQIRUPDWLRQ�VKDULQJ�DQG�JUHDWHU�OLQNV�EHWZHHQ�VWDUWXSV��HQWUHSUHQHXUV��JRYHUQPHQWV�DQG�RWKHU�VHFWRUV��6WDUWXS�&DQDGD�KHOSV�HQVXUH�SXEOLF�SROLF\�LQ�&DQDGD�UHODWHG�WR�HQWUHSUHQHXUVKLS�LV�G\QDPLF��FRRUGLQDWHG�DQG�UHVSRQVLYH�WR�IXWXUH�FKDOOHQJHV�DQG�RSSRUWXQLWLHV�
Written by Brian Yining Wu, Shannon Fox and Jana Makar.Photographs by Cyprian Szalankiewicz.
Designed by Paul Dukes.
© 2013, Startup Canada 50 O’Connor St. Suite 300, Ottawa ON K1P 6L2
![Page 3: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/3.jpg)
3
Table of ConTenTs
Preface������������������������������������������������������������������������������������������������������������������������������ Minister Remarks�������������������������������������������������������������������������������������������������������� Keynote��������������������������������������������������������������������������������������������������������������������������Panel Discussion summary�������������������������������������������������������������������������������������Pitch summary�������������������������������������������������������������������������������������������������������������
6FRWW�$QQDQ��$FFHO�LR�6WDUWXS3OD\V����������������������������������������������������������������������0DWKHZ�*HRUJKLRX��0HGLD6SDUN�*R9HQWXUH�:RUOG���������������������������������������0LNH�/HH��)XQGLFD����������������������������������������������������������������������������������������������������$OH[�*ODVVH\��6WUDW3DG��������������������������������������������������������������������������������������������
Conclusion��������������������������������������������������������������������������������������������������������������������appendix a – supporting blogs����������������������������������������������������������������������������)LQDQFLDO�6PDUWV�&DQ�0DNH�RU�%UHDN�6WDUWXSV��������������������������������������������������6HFUHW�WR�6XFFHVV"�)LQDQFLDO�.QRZ�+RZ�������������������������������������������������������������6SRWOLJKW��6FRWW�$QQDQ��$FFHO�LR��6WDUWXSSOD\V�����������������������������������������������6SRWOLJKW��0LNH�/HH��3DUWQHU�DW�)XQGLFD�������������������������������������������������������������6SRWOLJKW��0DWKHZ�*HRUJKLRX��0HGLD6SDUN������������������������������������������������������6SRWOLJKW��$OH[�*ODVVH\��&UHDWRU�RI�6WUDW3DG�����������������������������������������������������
appendix b – Comprehensive list of Resources��������������������������������������������*RYHUQPHQW�$JHQFLHV��ΖQLWLDWLYHV���������������������������������������������������������������������%DQNLQJ�ΖQGXVWU\�5HVRXUFHV���������������������������������������������������������������������������������%RRNV��������������������������������������������������������������������������������������������������������������������������
![Page 4: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/4.jpg)
4
![Page 5: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/5.jpg)
�
PRefaCe
%HFRPLQJ�DQ�HQWUHSUHQHXU�DQG�VWDUWLQJ�D�VPDOO�EXVLQHVV�LV�RQH�RI�WKH�PRVW�HPSRZHULQJ�MRXUQH\V�DQ\RQH�FDQ�WDNH��ΖWȇV�DQ�H[KLODUDWLQJ�MRXUQH\�DERXW�KDYLQJ�D�JUHDW�LGHD��VHL]LQJ�WKH�RSSRUWXQLW\��JHWWLQJ�WKLQJV�GRQH��DQG�VHHLQJ�GUHDPV�WXUQ�LQWR�UHDOLW\��2Q�WKH�RWKHU�KDQG��LWȇV�DOVR�D�WUHDFKHURXV�MRXUQH\�ȴOOHG�ZLWK�DQ�XQUHOHQWLQJ�VHULHV�RI�REVWDFOHV�Ȃ�ZKHWKHU�LWȇV�GHYHORSLQJ�WKH�SURGXFW�RU�VHUYLFH��ȴQGLQJ�FXVWRPHUV��ȴOLQJ�WD[HV��KLULQJ�WDOHQW��RU�EDODQFLQJ�ȴQDQFHV�
ΖWȇV�LQ�HYHU\RQHȇV�LQWHUHVW�WR�KHOS�&DQDGLDQ�VPDOO�EXVLQHVVHV�VXFFHHG��6PDOO�EXVLQHVVHV�DUH�WKH�EDFNERQH�RI�WKH�&DQDGLDQ�HFRQRP\�Ȃ�WKH\�HPSOR\�WKH�EXON�RI�WKH�&DQDGLDQ�ZRUNIRUFH�DQG�FUHDWHG��������QHZ�MREV�LQ�WKH�ODVW�\HDU�DORQH��$PRQJ�WKHP�DUH�D�VL]DEOH�JURXS�RI�HDUO\�VWDJH�VWDUWXSV�Ȃ�WKH�SUHFXUVRUV�WR�DOO�VFDODEOH��KLJK�JURZWK�FRPSDQLHV�WKDW�KDYH�WKH�SRWHQWLDO�WR�WUDQVIRUP�WKH�&DQDGLDQ�HFRQRP\��<HW�DFFRUGLQJ�WR�6WDWLVWLFV�&DQDGD�����SHUFHQW�RI�DOO�&DQDGLDQ�VPDOO�EXVLQHVVHV�FORVH�WKHLU�GRRUV�EHIRUH�WKHLU�ȴIWK�DQQLYHUVDU\�
$FFRUGLQJ�WR�UHFHQW�VWXGLHV��D�OHDGLQJ�FDXVH�RI�WKLV�KLJK�IDLOXUH�UDWH�LV�WKH�ODFN�RI�ȴQDQFLDO�OLWHUDF\�VNLOOV�DPRQJ�VPDOO�EXVLQHVV�RZQHUV��7KH�1DWLRQDO�7DVN�)RUFH�RQ�)LQDQFLDO�/LWHUDF\�UHSRUWHG�WKDW�PDQ\�&DQDGLDQ�FRQVXPHUV�DUH�LOO�HTXLSSHG�WR�GHDO�ZLWK�ȴQDQFLDO�PDWWHUV��RQO\����SHUFHQW�RI�&DQDGLDQV�KDYH�D�EXGJHW��DQG�RQO\����SHUFHQW�KDYH�D�JRRG�LGHD�RI�KRZ�PXFK�WR�VDYH�IRU�UHWLUHPHQW��+RXVHKROG�GHEW�URVH�IURP����SHUFHQW�RI�GLVSRVDEOH�LQFRPH�LQ������WR�����SHUFHQW�LQ������Ȃ�WKH�KLJKHVW�OHYHO�LQ�KLVWRU\�
ΖQ�LWV�UHSRUW�WR�WKH�0LQLVWHU�RI�)LQDQFH��WKH�7DVN�)RUFH�UHFRPPHQGHG�QXPHURXV�DFWLRQ�SODQV��VXFK�DV�DSSRLQWLQJ�D�QDWLRQDO�GLUHFWRU�RI�ȴQDQFLDO�OLWHUDF\��LQWHJUDWLQJ�ȴQDQFLDO�OLWHUDF\�LQWR�.����FXUULFXOD��ZRUNSODFH�WUDLQLQJ�DQG�JRYHUQPHQW�SURJUDPV��DV�ZHOO�DV�FUHDWLQJ�VHUYLFHV�DQG�WRROV�WR�EH�RHUHG�WKURXJK�QRQ�SURȴW�FKDQQHOV��7KH�UHSRUW�VHQW�D�FOHDU�PHVVDJH�WKDW�PXFK�JUHDWHU�DWWHQWLRQ�QHHGV�WR�EH�GHYRWHG�WR�HGXFDWLQJ�FRQVXPHUV�DERXW�ȴQDQFLDO�OLWHUDF\�LQ�RUGHU�WR�KHOS�WKHP�QDYLJDWH�WXUEXOHQW�WLPHV�ZLWK�FRQȴGHQFH��<HW��WKH�7DVN�)RUFH�LV�YLUWXDOO\�VLOHQW�DERXW�WKH�QHHG�IRU�VPDOO�EXVLQHVV�RZQHUV�WR�DFTXLUH�WKH�ȴQDQFLDO�OLWHUDF\�VNLOOV��UHVRXUFHV��DQG�WRROV�WKH\�QHHG�WR�VXFFHHG�
$�VXUYH\�FRPPLVVLRQHG�E\�ΖQWXLW�&DQDGD��ZLWK����VLPSOH�TXHVWLRQV�VXFK�DV�Ȋ:KDW�LV�WKH�UROH�RI�WKH�EDODQFH�VKHHW"ȋ�DQG�Ȋ+RZ�FDQ�VKRUW�WHUP�FDVK�ȵRZ�EH�LPSURYHG"ȋ��UHYHDOHG�WKDW�D�VWDJJHULQJ����SHUFHQW�RI�&DQDGLDQ�VPDOO�EXVLQHVV�RZQHUV�KDYH�EDVLF�RU�EHORZ�EDVLF�ȴQDQFLDO�OLWHUDF\��6PDOO��HDUO\�VWDJH�EXVLQHVVHV�DUH�HVSHFLDOO\�YXOQHUDEOH�Ȃ�RQO\����SHUFHQW�RI�EXVLQHVVHV�ZLWK�RQH�HPSOR\HH�UHDOL]H�WKDW�ȴQDQFLDO�PDQDJHPHQW�LV�FUXFLDO�DQG�RQO\����SHUFHQW�EHOLHYH�ȴQDQFLDO�WUDLQLQJ�ZRXOG�PDNH�WKHP�PRUH�SURȴWDEOH��&RPSDUHG�WR�H[WHQVLYH�ȴQDQFLDO�OLWHUDF\�VXSSRUW�SURJUDPV�WDUJHWHG�WR�FRQVXPHUV��VPDOO�EXVLQHVV�RZQHUV�DUH�RIWHQ�OHIW�EHKLQG�WR�QDYLJDWH�WKH�WRXJK�VSRWV�RQ�WKHLU�RZQ��7KHUH�LV�D�ODUJH�ȴQDQFLDO�OLWHUDF\�JDS�WKDW�QHHGV�WR�EH�EULGJHG�LQ�RUGHU�WR�ERRVW�WKH�VXFFHVV�UDWH�RI�VPDOO�EXVLQHVVHV�DQG�UHYLWDOL]H�WKH�&DQDGLDQ�HFRQRP\�
![Page 6: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/6.jpg)
6
![Page 7: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/7.jpg)
�
7R�EULGJH�WKH�JDS��DOO�OHYHOV�RI�JRYHUQPHQW��WKH�ȴQDQFH�LQGXVWU\��QRW�IRU�SURȴW�JURXSV��DQG�VWDUWXS�HQWUHSUHQHXUV�QHHG�WR�MRLQ�IRUFHV�DQG�WDFNOH�WKLV�FKDOOHQJH�WRJHWKHU�
ΖQ�SDUWQHUVKLS�ZLWK�ΖQWXLW�&DQDGD�DQG�RWKHU�PHPEHUV�RI�WKH�&DQDGLDQ�ȴQDQFLDO�OLWHUDF\�FRPPXQLW\��6WDUWXS�&DQDGD�KRVWHG�DQ�HYHQW�RQ�0DUFK���������WKDW�DGGUHVVHG�WKH�ȴQDQFLDO�OLWHUDF\�FKDOOHQJH�KHDG�RQ��$V�WKH�ȴUVW�HYHQW�RI�WKH�6WDUWXS�&DQDGD������/Ζ9(�6HULHV��%ULGJLQJ�WKH�)LQDQFLDO�/LWHUDF\�*DS�EURXJKW�WRJHWKHU�OHDGLQJ�LQGXVWU\�H[SHUWV��HQWUHSUHQHXUV��DFDGHPLFV��JRYHUQPHQW�UHSUHVHQWDWLYHV��DQG�QRW�IRU�SURȴW�OHDGHUV�WR�GLYH�LQWR�FRQYHUVDWLRQV�DERXW�WKH�WUHQGV��FKDOOHQJHV��RSSRUWXQLWLHV��DQG�WRROV�WKDW�FDQ�KHOS�DGYDQFH�WKH�ȴQDQFLDO�OLWHUDF\�DJHQGD�LQ�WKH�VWDUWXS�FRPPXQLW\�
7KH�HYHQW�IHDWXUHG�D�NH\QRWH�DGGUHVV�E\�-H�&DWHV��0DQDJLQJ�'LUHFWRU�RI�ΖQWXLW�&DQDGD��IROORZHG�E\�D�SDQHO�GHEDWH�RQ�ȴQDQFLDO�OLWHUDF\�WRSLFV�UHOHYDQW�WR�WKH�VWDUWXS�FRPPXQLW\��VXFK�DV�
• 0DNLQJ�EHWWHU�XVH�RI�H[LVWLQJ�ȴQDQFLDO�OLWHUDF\�UHVRXUFHV�WR�LQFUHDVH�VXUYLYDO�UDWH�
• 5HDFKLQJ�DQG�LQIRUPLQJ�ȴUVW�WLPH�HQWUHSUHQHXUV�DERXW�ȴQDQFLDO�OLWHUDF\��DQG
• +RZ�WKH�VWDUWXS�FRPPXQLW\�FDQ�KHOS�&DQDGLDQV�WR�EHFRPH�PRUH�ȴQDQFLDOO\�OLWHUDWH�
7KH�HYHQW�FRQFOXGHG�ZLWK�D�URXQG�RI�SLWFKLQJ�E\�IRXU�&DQDGLDQ�VWDUWXS�HQWUHSUHQHXUV�ȃ�*R9HQWXUH�:RUOG��6\GQH\��16���)XQGLFD��0RQWUHDO��4&���6WDUWXS3OD\V��2WWDZD��21���DQG�6WUDW3DG��9LFWRULD��%&��ȃ�ZKR�KDYH�GHYHORSHG�VROXWLRQV�WR�PDNH�VLJQLȴFDQW�FRQWULEXWLRQV�WRZDUG�EULGJLQJ�WKH�JDS�
7KLV�ZDV�DV�D�SLRQHHULQJ�IRUXP�IRU�H[FKDQJLQJ�LQVLJKWV�DQG�VWUDWHJLHV�DW�D�QDWLRQDO�OHYHO�WR�FXOWLYDWH�D�ODUJH�FURS�RI�ȴQDQFLDOO\�VDYY\�HDUO\�VWDJH�VWDUWXSV��7KLV�ZLOO�LQ�WXUQ�FUHDWH�PRUH�KLJK�JURZWK�FRPSDQLHV�WKDW�FDQ�DFW�DV�DQFKRUV�LQ�WKHLU�UHVSHFWLYH�FRPPXQLWLHV�DQG�EULQJ�D�QHZ�OHYHO�RI�SURVSHULW\�WR�WKH�&DQDGLDQ�HFRQRP\�
![Page 8: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/8.jpg)
�
![Page 9: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/9.jpg)
�
MinisTeR ReMaRKsBy 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.
CuTTing The ReD TaPe
$�UHFHQW�VXUYH\�E\�WKH�&DQDGLDQ�)HGHUDWLRQ�RI�ΖQGHSHQGHQW�%XVLQHVV�LQGLFDWHG�WKDW�SDSHU�EXUGHQ�LV�VHFRQG�RQO\�WR�WD[HV�DV�DQ�LVVXH�IRU�EXVLQHVV�RZQHUV��Ȋ6WDUWXSV�DQG�VPDOO�EXVLQHVVHV�DUH�GULYHUV�RI�LQQRYDWLRQ�DQG�FUHDWLYLW\�LQ�&DQDGD�ȋ�VDLG�0LQLVWHU�%HUQLHU��Ȋ2XU�JRYHUQPHQW�LV�FRPPLWWHG�WR�PDNLQJ�LW�HDVLHU�IRU�WKHP�WR�VXFFHHG�E\�NHHSLQJ�WD[HV�ORZ��FXWWLQJ�UHG�WDSH��DQG�LQFUHDVLQJ�&DQDGLDQ�H[SRUWV�WR�QHZ�PDUNHWV�ȋ
The one-foR-one Rule
0LQLVWHU�%HUQLHU�GHVFULEHG�WKH�PHDVXUHV�WDNHQ�WKURXJK�WKH�5HG�7DSH�5HGXFWLRQ�$FWLRQ�3ODQ�WR�FXW�XQQHFHVVDU\�EXUHDXFUDWLF�KXUGOHV��VXFK�DV�WKH�RQH�IRU�RQH�UXOH��ZKLFK�VWDWHV�WKDW�ZKHQHYHU�WKH�IHGHUDO�UHJXODWRUV�ZLVK�WR�LQWURGXFH�D�QHZ�UHJXODWLRQ�RQ�EXVLQHVV��WKH\�PXVW�HOLPLQDWH�DQRWKHU�UHJXODWLRQ�RI�HTXDO�EXUGHQ�ZLWKLQ����PRQWKV��7KH\�DUH�DOVR�UHTXLUHG�WR�SXEOLVK�OLVWV�RI�DQ\�QHZ�UHJXODWLRQV�H[SHFWHG�LQ�WKH�QH[W�WZR�\HDUV��7KLV�LQLWLDWLYH�DOORZV�EXVLQHVVHV�WR�SUHGLFW�WKH�UHJXODWRU\�ODQGVFDSH�DQG�SUHSDUH��SODQ��DQG�LQYHVW�DFFRUGLQJO\�
Ȋ)HZHU�DQG�HDVLHU�WR�XQGHUVWDQG�UHJXODWLRQV�PHDQ�WKDW�HQWUHSUHQHXUV�ZLOO�KDYH�D�PXFK�VLPSOHU�WLPH�FRPSO\LQJ�ZLWK�WKHP�ȋ�VDLG�0LQLVWHU�%HUQLHU��Ȋ7KLV�PHDQV�\RX�DUH�QRW�IRUFHG�WR�VSHQG�YDOXDEOH�WLPH�DZD\�IURP�GRLQJ�ZKDW�PDWWHUV�PRVW�Ȃ�JURZLQJ�\RXU�EXVLQHVVHV�DQG�FUHDWLQJ�MREV�LQ�&DQDGD�ȋ
iMPRoving CusToMeR seRviCe
7KHUH�ZHUH�FRQVWDQW�UHTXHVWV�IURP�HQWUHSUHQHXUV�IRU�EHWWHU�FXVWRPHU�VHUYLFH��5HFHQWO\�WKH�&DQDGLDQ�5HYHQXH�$JHQF\�UHTXLUHG�DOO�FDOO�FHQWHU�DJHQWV�WR�SURYLGH�LGHQWLȴFDWLRQ�DW�WKH�EHJLQQLQJ�RI�HDFK�FDOO��DQG�DOO�RQOLQH�WD[�UHODWHG�TXHVWLRQV�DUH�SURFHVVHG�DFFRUGLQJ�WR�FOHDUO\�GHȴQHG�WLPHOLQHV��7KHVH�SUDFWLFHV�DUH�EHLQJ�VKDUHG�DQG�LPSOHPHQWHG�LQ�RWKHU�JRYHUQPHQW�GHSDUWPHQWV�
final WoRDs
%\�PDNLQJ�WKH�UHJXODWRU\�SURFHVV�DV�SDLQ�IUHH�DV�SRVVLEOH��WKH�JRYHUQPHQW�FDQ�KHOS�WR�UHLQIRUFH�&DQDGDȇV�UHSXWDWLRQ�DV�RQH�RI�WKH�PRVW�DWWUDFWLYH�EXVLQHVV�HQYLURQPHQWV�LQ�WKH�ZRUOG�WRGD\��7KHVH�DUH�VRPH�RI�WKH�PRVW�LPSRUWDQW�LQLWLDWLYHV�WKH�JRYHUQPHQW�FDQ�XQGHUWDNH�WR�KHOS�EXVLQHVV�JURZ��FUHDWH�MREV��DQG�HQVXUH�&DQDGDȇV�ORQJ�WHUP�SURVSHULW\�
![Page 10: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/10.jpg)
��
![Page 11: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/11.jpg)
��
KeynoTe%\�-H�&DWHV��0DQDJLQJ�'LUHFWRU�RI�ΖQWXLW�&DQDGD
ΖQ�WKLV�NH\QRWH�DGGUHVV��&DWHV�XQYHLOHG�LPSRUWDQW�ȴQGLQJV�IURP�ΖQWXLW�&DQDGDȇV�ȴQDQFLDO�OLWHUDF\�UHVHDUFK�DQG�RXWOLQHG�LQLWLDWLYHV�WR�EULGJH�WKH�ȴQDQFLDO�OLWHUDF\�JDS�
The ReseaRCh finDings
2YHU�WKH�ODVW�VL[�PRQWKV��ΖQWXLW�&DQDGD�FRQGXFWHG�WZR�VWXGLHV�WR�JDLQ�LQVLJKWV�RQ�VPDOO�EXVLQHVV�ȴQDQFLDO�PDQDJHPHQW�SUDFWLFHV�DQG�KRZ�WKDW�FRQWULEXWHV�WR�WKHLU�ORZ�VXUYLYDO�UDWH��7KH�UHVXOWV�ZHUH�VXUSULVLQJ�
7KH�ȴUVW�VWXG\�IRXQG�
• 7KH�PDMRULW\�����SHUFHQW��RI�HQWUHSUHQHXUV�VWDUW�ZLWK�OHVV�WKDQ���������PRVWO\�IURP�SHUVRQDO�VDYLQJV��OLQH�RI�FUHGLW��RU�PD[LQJ�RXW�FUHGLW�FDUGV�Ȃ�DOO�RI�ZKLFK�FDUU\�WUHPHQGRXV�SHUVRQDO�ULVN
• 0DQ\�HQWUHSUHQHXUV�UHDOL]H�WKH�FHQWUDO�LPSRUWDQFH�RI�ȴQDQFLDO�OLWHUDF\�DIWHU�WKH�FRPSOH[LWLHV�RI�PDQDJLQJ�FDVK�ȵRZ�KLW�KRPH�Ȃ�ȴQDQFLDO�OLWHUDF\�UDQNHG����LQ�LPSRUWDQFH�DERYH�RWKHU�HTXDOO\�YLWDO�FRPSRQHQWV�RI�VPDOO�EXVLQHVV�VXFFHVV��VXFK�DV�ȴQGLQJ�D� PHQWRU��FUHDWLQJ�D�VROLG�EXVLQHVV�SODQ��RU�UHDFKLQJ�RXW�IRU�SURIHVVLRQDO�EXVLQHVV�DGYLFH
ΖQ�WKH�VHFRQG�VWXG\��VPDOO�EXVLQHVV�RZQHUV�ZHUH�DVNHG����VLPSOH�TXHVWLRQV�RQ�ȴQDQFLDO�OLWHUDF\��TXHVWLRQV�VXFK�DV��:KDW�LV�WKH�UROH�RI�WKH�EDODQFH�VKHHW"�+RZ�FDQ�VKRUW�WHUP�FDVK�ȵRZ�EH�LPSURYHG"��� 7KH�UHVXOWV�VKRZHG�
• ���SHUFHQW�KDG�EDVLF�RU�EHORZ�EDVLF�XQGHUVWDQGLQJ�RI�ȴQDQFLDO�OLWHUDF\��VFRUH�RI�VL[�RU�EHORZ���ZKLFK�LQGLFDWHV�D�GHHS�ȴQDQFLDO�OLWHUDF\�JDS
• 2QO\�RQH�LQ����VRXJKW�SURIHVVLRQDO�KHOS�DQG�UHVRXUFHV�ZKHQ�starting out
• $IWHU�EHFRPLQJ�DZDUH�RI�WKH�JDS��VPDOO�EXVLQHVV�RZQHUV�KDYH�FOHDU�LGHDV�RI�ZKDW�WKH\�QHHG�WR�ERRVW�WKHLU�ȴQDQFLDO�OLWHUDF\�VNLOOV�����SHUFHQW�ZDQW�PRUH�WLPH�ZLWK�DFFRXQWDQWV�����SHUFHQW�ZDQW�LQIRUPDWLRQ�VHVVLRQV��DQG����SHUFHQW�ZDQW�WR�XVH�RQOLQH�tutorials
• 6PDOO�EXVLQHVV�RZQHUV�ZKR�XVH�ȴQDQFLDO�VRIWZDUH�DQG�VROXWLRQV�DUH�ȴYH�WLPHV�PRUH�OLNHO\�WR�UDWH�WKHPVHOYHV�DV�KDYLQJ�KLJK�FRQȴGHQFH�LQ�ȴQDQFLDO�VNLOOV��FRPSDUHG�WR�WKH�RQHV�ZKR�XVH�RXWGDWHG�PDQXDO�PHWKRGV�OLNH�SHQ�DQG�SDSHU�����SHUFHQW�YHUVXV����SHUFHQW�
TaKing aCTion
ΖQWXLW�&DQDGD�LV�SDUWQHULQJ�ZLWK�WKH�&DQDGLDQ�<RXWK�%XVLQHVV�)RXQGDWLRQ�WR�SURYLGH�\RXQJ�HQWUHSUHQHXUV�ZLWK�WRROV�DQG�FRDFKLQJ�WR�ERRVW�WKHLU�ȴQDQFLDO�OLWHUDF\�VNLOOV�E\�SURYLGLQJ�WKHP�ZLWK�ΖQWXLWȇV�4XLFN%RRN�2QOLQH�VRIWZDUH�
ConClusion
7KH�UHVHDUFK�ȴQGLQJV�SDLQW�D�FRPSHOOLQJ�DQG�VWDUN�SLFWXUH�RI�WKH�&DQDGLDQ�ȴQDQFLDO�OLWHUDF\�FKDOOHQJH��2QO\�E\�ZRUNLQJ�WRJHWKHU�FDQ�PRUH�&DQDGLDQ�HQWUHSUHQHXUV�EHFRPH�VXFFHVVIXO�DQG�EULQJ�VXVWDLQDEOH�SURVSHULW\�WR�&DQDGDȇV�IXWXUH�
![Page 12: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/12.jpg)
��
![Page 13: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/13.jpg)
��
Panel DisCussion suMMaRy
PanelisTs:
• -H�&DWHV��0DQDJLQJ�'LUHFWRU�RI�ΖQWXLW�&DQDGD
• gary Rabbior��3UHVLGHQW�RI�WKH�&DQDGLDQ�)RXQGDWLRQ�IRU�(FRQRPLF�(GXFDWLRQ
• lance laking��ΖQYHVWPHQW�'LUHFWRU�DW�WKH�0D56�ΖQYHVWPHQW�$FFHOHUDWRU�)XQG
• Julia Deans��&(2�RI�WKH�&DQDGLDQ�<RXWK�%XVLQHVV�)RXQGDWLRQ��&<%)�
MoDeRaToR:
• Rick spence��(QWUHSUHQHXU�&ROXPQLVW�DW�WKH�1DWLRQDO�3RVW
on boosTing finanCial liTeRaCy aMong neW enTRePReneuRs
Deans�Ȃ�ȊΖW�KDV�WR�EH�VRPHWKLQJ�WKDW�LV�SDUW�RI�RXU�HGXFDWLRQ�V\VWHP��ΖW�KDV�WR�EH�VRPHWKLQJ�WKDW�SDUHQWV�WDON�WR�WKHLU�NLGV�DERXW�DQG�PRGHO�IRU�WKHLU�NLGV��DQG�LW�KDV�WR�EH�VRPHWKLQJ�WKDW�ZH�WHOO�PRUH�VWRULHV�DERXW�ȋ
• $�PHUH����SHUFHQW�RI�&<%)ȇV�FOLHQWV�FRPH�ZLWK�D�EXVLQHVV�SODQ�RU�EDVLF�ȴQDQFLDO�VNLOOV�DQG�RQO\���SHUFHQW�KDYH�GRQH�FDVK�ȵRZ�DQDO\VLV�
• &<%)�LV�GRLQJ�WKH�ZRUN�WR�EULQJ�WKHVH�\RXQJ�HQWUHSUHQHXUV�XS�WR�SDU�Ȃ�EXW�WKRVH�ZKR�GRQȇW�KDYH�DFFHVV�WR�RUJDQL]DWLRQV�OLNH�&<%)�ZRXOG�VXHU�LI�WKH\�GR�QRW�SUHSDUH�LQ�DGYDQFH�
laking�Ȃ�ȊΖ�WKLQN�WKHUHȇV�D�UHTXLUHPHQW�IRU�HYHU\�HQWUHSUHQHXU��LI�WKH\ȇUH�JRLQJ�WR�SXW�WKHLU�VWLFN�RQ�WKH�LFH��WR�UHDOL]H�LW�LV�D�FRUH�UHTXLUHPHQW�IRU�WKHLU�VXFFHVV�ȋ
• 7KHUH�DUH�D�P\ULDG�RI�RUJDQL]DWLRQV�WKDW�FDQ�KHOS�HQWUHSUHQHXUV�JDLQ�ȴQDQFLDO�OLWHUDF\�NQRZOHGJH�LI�WKH\�DUH�DZDUH�RI�KRZ�LPSRUWDQW�LW�LV�
• 7KH�YDVW�PDMRULW\�RI�VWDUWXSV�UHTXLUH�H[WHUQDO�FDSLWDO��7KH�DELOLW\�IRU�HQWUHSUHQHXUV�WR�DUWLFXODWH�WKH�EXVLQHVV�RSSRUWXQLW\�DQG�WR�VSHDN�ZLWK�D�GHJUHH�RI�FRPSHWHQFH�DQG�FRQȴGHQFH�DURXQG�WKH�ȴQDQFLDO�RSSRUWXQLW\�RI�WKH�EXVLQHVV�LV�FULWLFDOO\�LPSRUWDQW�LQ�DFTXLULQJ�WKDW�FDSLWDO�
Rabbior�Ȃ�Ȋ)LQDQFLDO�OLWHUDF\�LVQȇW�RQH�VL]H�ȴW�DOO��2XU�VFKRRO�V\VWHP�LV�VR�ORDGHG�ZLWK�OHIW�EUDLQ��FRQWHQW�KHDY\�FXUULFXOD�LW�GULYHV�DOO�WKH�ULJKW�EUDLQ��FUHDWLYH��DQG�KROLVWLF�WKLQNLQJ�HQWUHSUHQHXUV�RXW�RI�VFKRRO�ZLWKRXW�OHDUQLQJ�WKH�IXQGDPHQWDOV��:H�QHHG�WR�GHYHORS�UHDO�ZRUOG�FRPSHWHQFLHV�LQ�RXU�\RXQJ�SHRSOH�LQVWHDG�RI�WU\LQJ�WR�KDPPHU�DOO�WKLV�NQRZOHGJH�LQWR�WKHLU�KHDGV�ȋ
• $OEHUWD�LV�UH�YDPSLQJ�LWV�HGXFDWLRQ�V\VWHP�WR�EH�FRPSHWHQF\�EDVHG�UDWKHU�WKDQ�FRQWHQW�EDVHG��ΖW�ZLOO�EH�FKDOOHQJLQJ�EXW�LW�LV�D�VWHS�LQ�WKH�ULJKW�GLUHFWLRQ�
![Page 14: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/14.jpg)
��
![Page 15: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/15.jpg)
��
on Why The finanCial liTeRaCy RaTe is loW aMong enTRePReneuRs
Rabbior�Ȃ�ȊΖ�WKLQN�HQWUHSUHQHXUV�DUH�PDGH��QRW�ERUQ�Ȃ�WKH\�DUH�SURGXFWV�RI�WKHLU�HQYLURQPHQW��(YHQ�LI�ZH�DUH�VXFFHVVIXO�DW�LQVSLULQJ�\RXQJ�SHRSOH�WR�WDNH�XS�HQWUHSUHQHXUVKLS��WKH\�ZRXOG�KDYH�YHU\�OLWWOH�LQWHUHVW�LQ�WKH�ȴQDQFLDO�VLGH�RI�WKLQJV�Ȃ�WKH\�DUH�MXVW�QRW�GHWDLO�RULHQWHG�ȋ
• )RU�PDQ\�HQWUHSUHQHXUV��PRQH\�LV�QRW�HYHQ�WKH�PRWLYDWRU�IRU�VWDUWLQJ�D�EXVLQHVV�Ȃ�WKH\�OLYH�WR�IXOȴOO�WKH�GHVLUH�WR�DFFRPSOLVK�WKLQJV��WR�VHW�JRDOV��EULQJ�UHVRXUFHV�WRJHWKHU��DQG�H[HUFLVH�FUHDWLYLW\�DQG�LQQRYDWLRQ�WR�WXUQ�GUHDPV�LQWR�UHDOLW\��0RQH\�LV�VLPSO\�D�VFRUHFDUG�
• (QWUHSUHQHXUV�QHHG�SHRSOH�WKH\�WUXVW�WR�UHPLQG�WKHP�DERXW�WKH�LPSRUWDQFH�RI�PDQDJLQJ�WKHLU�ȴQDQFHV�
on The aDoPTion of finanCial ManageMenT TeChnology
Deans�Ȃ�Ȋ:KDW�WHFKQRORJ\�KDV�GRQH�LV�WR�PDNH�ȴQDQFLDO�PDQDJHPHQW�VR�PXFK�HDVLHU�DQG�DFFHVVLEOH�Ȃ�H[FHSW�WKDW�PRVW�HQWUHSUHQHXUV�DUH�VR�H[FLWHG�DERXW�ZKDW�WKH\�DUH�GRLQJ��WKH�ODVW�WKLQJ�WKH\�ZDQW�WR�GR�LV�WR�VLW�GRZQ�LQ�IURQW�RI�WKH�FRPSXWHU�DQG�FUXQFK�QXPEHUV�ȋ
• &<%)ȇV�SDUWQHUVKLS�ZLWK�ΖQWXLW�&DQDGD�KHOSV�WR�SXOO�HQWUHSUHQHXUV�WRZDUGV�WKHVH�WHFKQRORJLFDO�WRROV��2QFH�WKHVH�HQWUHSUHQHXUV�DUH�XVLQJ�WKH�V\VWHP��LW�ZLOO�PDNH�LW�HDVLHU�IRU�SHRSOH�ZKR�KHOS�WKHP��:H�VWLOO�KDYH�D�ORQJ�ZD\�WR�JR�LQ�PDNLQJ�WKLV�WUHQG�PRUH�SUHYDOHQW�
on behavioRal Change MeThoDologies anD aWaReness of finanCial liTeRaCy’s iMPoRTanCe
Rabbior�Ȃ�Ȋ2QH�RI�WKH�PDMRU�FKDOOHQJHV�ZH�IDFH�LQ�ȴQDQFLDO�OLWHUDF\�LV�WKDW�SHRSOH�ZKR�NQRZ�VWX�DUH�WU\LQJ�WR�WHOO�SHRSOH�ZKDW�WKH\�VKRXOG�NQRZ�Ȃ�EXW�LW�GRHVQȇW�ZRUN�LI�\RX�KDYHQȇW�HQJDJHG�WKHP��KDYHQȇW�FRQQHFWHG�ZLWK�WKHP��DQG�KDYHQȇW�OHDUQHG�ZKDW�WKH\�FXUUHQWO\�QHHG�LQ�WKHLU�OLYHV�ȋ
• :H�KDYH�VSHQW�PLOOLRQV�RI�GROODUV�WR�EXLOG�UHVRXUFHV��WRROV��ERRNV�DQG�ZHEVLWHV�WKDW�DUH�VR�YROXPLQRXV�SHRSOH�GRQȇW�XVH�WKHP��7KH�FKDOOHQJH�LV�WR�SUHVHQW�WKH�PDVVLYH�ZRUOG�RI�ȴQDQFLDO�HGXFDWLRQ�LQ�D�PDQDJHDEOH�VL]H�VR�WKDW�D�EHJLQQHU�FDQ�IHHO�PRWLYDWHG�WR�OHDUQ�UDWKHU�WKDQ�RYHUZKHOPHG�DQG�VKXW�GRZQ�
Cates�Ȃ�Ȋ0RVW�QHZ�VPDOO�EXVLQHVV�RZQHUV�VWDUW�ZLWK�FRQVXPHU�OHYHO�ȴQDQFLDO�XQGHUVWDQGLQJ��ZKLFK�UHDOO\�LVQȇW�WKDW�KLJK��7KH�NH\�SUREOHP�LV�WKDW�QHZ�HQWUHSUHQHXUV�GRQȇW�NQRZ�ZKDW�WKH\�GRQȇW�NQRZ�Ȃ�WKH\�GRQȇW�NQRZ�KRZ�LPSRUWDQW�ȴQDQFLDO�OLWHUDF\�LV�ȋ
• $�ORW�RI�WKH�VXSSRUW�ZLOO�FRPH�IURP�DVVRFLDWLRQV�DQG�PHQWRUVKLS�SURJUDPV�ZKHUH�VPDOO�EXVLQHVVHV�FDQ�OHDUQ�IURP�RWKHU�VPDOO�EXVLQHVVHV�
• :H�QHHG�WR�SDFNDJH�ȴQDQFLDO�OLWHUDF\�HGXFDWLRQ�LQ�D�ZD\��PXOWLSOH�PRGDOLWLHV��VXFK�WKDW�VPDOO�EXVLQHVV�RZQHUV�ZDQW�WR�FRQVXPH�LW�DQG�DW�WKH�ULJKW�WLPH�ZKHQ�WKH\�QHHG�LW�
Deans�Ȃ�ȊΖȇYH�EHHQ�PHHWLQJ�ZLWK�\RXQJ�HQWUHSUHQHXUV�DFURVV�WKH�FRXQWU\�ZKR�ZRUNHG�ZLWK�&<%)�EHFDXVH�WKH\�ZDQWHG�WKH�PRQH\��:H�PDGH�VXUH�WKH\�KDG�D�EXVLQHVV�SODQ��FDVK�ȵRZ�SUHGLFWLRQV�DQG�PHQWRUV�IRU�WZR�\HDUV��DQG�WKH\�DOO�VD\�VXFK�D�VHWXS��DOWKRXJK�LW�
![Page 16: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/16.jpg)
��
![Page 17: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/17.jpg)
��
GURYH�WKHP�FUD]\�DW�WKH�WLPH��ZDV�WKH�TXDGUXSOH�E\SDVV�VXUJHU\�WKH\�GLGQȇW�NQRZ�WKH\�QHHGHGȋ
• 'HVLJQDWH�ȴQDQFLDO�OLWHUDF\�DV�D�UHTXLUHPHQW�IRU�LQFHQWLYHV�Ȃ�\RX�GRQȇW�JHW�WKH�PRQH\�LI�\RX�GRQȇW�KDYH�D�ȴQDQFLDO�SODQ�DQG�GRQȇW�JHW�D�PHQWRU�
• $�NH\�LQJUHGLHQW�IRU�KHOSLQJ�HQWUHSUHQHXUV�JHW�PRUH�FRPIRUWDEOH�ZLWK�QXPEHUV�LV�WR�VKDUH�VWRULHV�RI�KRZ�ȴQDQFLDO�VPDUWV�FDQ�WUDQVODWH�LQWR�VWDUWXS�ZLQV��$W�&<%)��KDYLQJ�D�VXSSRUW�VWUXFWXUH�IRU�ȴQDQFLDO�OLWHUDF\�LPSURYHV�VXFFHVV�UDWH�E\����SHUFHQW�
on The iMPliCaTion of finanCial liTeRaCy in Raising PRivaTe equiTy
laking�Ȃ�Ȋ$V�VRRQ�DV�WKH�HQWUHSUHQHXU�HQWHUV�WKH�FDSLWDO�PDUNHW��WKH�UXOHV�FKDQJH�IRUHYHU�Ȃ�WKH\�KDYH�D�UHVSRQVLELOLW\�WR�EH�DFFRXQWDEOH�WR�WKH�VKDUHKROGHUV�IRU�WKH�LQYHVWHG�FDSLWDO�DQG�EHFRPH�SURȴFLHQW�LQ�EXLOGLQJ�D�VRXQG�ȴQDQFLDO�VWUDWHJ\�ȋ
• )LQDQFLDO�OLWHUDF\�LV�FORVHO\�UHODWHG�WR�OHJDO�OLWHUDF\�LQ�WKH�FRPSOH[�ODQGVFDSH�RI�SULYDWH�HTXLW\��DQG�ZKHQ�GRQH�LPSURSHUO\�FDQ�H[SRVH�EXVLQHVVHV�WR�JUHDW�ULVNV�
• (QWUHSUHQHXUV�VKRXOG�UHFUXLW�D�VWURQJ�EHQFK�RI�DGYLVRUV�DURXQG�DFFRXQWLQJ��WD[DWLRQ��DQG�FRUSRUDWH�OHJDO�FRXQVHO�WR�QDYLJDWH�VXFK�D�FRPSOH[�ODQGVFDSH�
on The neeD foR high exPeRTise in oRDeR To unDeRsTanD finanCial infoRMaTion
Cates�Ȃ�Ȋ3HRSOH�VHH�SDLQ��SHRSOH�DYRLG�SDLQ�Ȃ�WKH\�IHHO�OLNH�ȴQDQFLDO�OLWHUDF\�LV�QRW�VRPHWKLQJ�WKH\�DUH�VNLOOHG�DW�VR�WKH\�SXW�LW�R�XQWLO�ODWHU�ȋ
• (VWDEOLVK�D�JRRG�UHODWLRQVKLS�ZLWK�DQ�DFFRXQWDQW�ZKR�FDQ�VHUYH�DV�DQ�DGYLVRU�DQG�WHDFKHU�
• 8VH�WRROV�WKDW�FDQ�WDNH�FRPSOH[LWLHV�RXW�RI�PDQDJLQJ�ȴQDQFHV�VR�WKDW�HYHQ�D�OD\PDQ�FDQ�GR�LW�
Rabbior�Ȃ�Ȋ7KH�ZD\�ZH�DUH�WHDFKLQJ�PDWK�Ȃ�FRQFHSWV�DQG�WKH�DEVWUDFWLRQV�WKDW�DUH�QRW�UHODWHG�WR�UHDO�OLIH�Ȃ�FDQ�UHDOO\�WXUQ�NLGV�R��:HȇUH�GRLQJ�D�EDG�MRE�DW�LW�DQG�DV�VXFK��ZHȇUH�OLYLQJ�ZLWK�WKH�OHJDF\�ZKHUH�WKH\�GRQȇW�WKLQN�WKH\�FDQ�GR�LW��HYHQ�WKRXJK�WKH\�VKRXOG�GR�LW��DQG�QRZ�ZH�KDYH�D�JDS�LQ�WKH�PLGGOH�ȋ
laking�Ȃ�Ȋ$Q�HQWUHSUHQHXU�FDQ�KDYH�LQ�GHSWK�NQRZOHGJH�RI�WKHLU�RZQ�ȴHOG��EXW�LI�WKH\�GRQȇW�XQGHUVWDQG�EDVLF�ȴQDQFLDO�XQGHUVWDQGLQJ��WKHQ�WKH\�GRQȇW�GHVHUYH�WR�EH�LQ�WKH�JDPH�EHFDXVH�WKH\�ZRXOGQȇW�VWDQG�D�FKDQFH�FRPSDUHG�WR�WKRVH�SHRSOH�ZKR�KDYH�VXFK�NQRZOHGJH�LQ�WKHLU�EDFN�SRFNHWV�ȋ
• 7KH�VDPH�ULJRU�IRU�VFLHQWLȴF�LQYHVWLJDWLRQ�QHHGV�WR�EH�DSSOLHG�WR�ȴQDQFLDO�SURMHFWLRQV�DQG�WKHLU�DVVXPSWLRQV�Ȃ�WKH\�QHHG�WR�KDYH�PDUNHW�YHULȴDEOH�GDWD�
![Page 18: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/18.jpg)
��
![Page 19: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/19.jpg)
��
• ΖQ�PRVW�FDVHV��VWDUWXSV�KDYH�PXOWLSOH�IRXQGHUV�DQG�WKH\�PD\�IRFXV�RQ�GLHUHQW�RSHUDWLRQDO�DVSHFWV��:H�DOVR�QHHG�WR�ORRN�DW�WKH�IRXQGLQJ�WHDP�DV�D�ZKROH�DQG�QRW�WU\�WR�GULOO�ȴQDQFH�LQWR�WKH�KHDG�RI�WKH�VFLHQWLVW�
on The effeCT of finanCial analysis on enTRePReneuRial oPTiMisM
Cates�Ȃ�ȊΖWȇV�QRW�VRPHWKLQJ�WKDW�PRVW�SHRSOH�ZDQW�WR�GR�Ȃ�LWȇV�QRW�WKH�IXQ�SDUW��%XW�RQFH�\RXȇYH�GRQH�LW��\RXȇYH�JRW�DQ�XQGHUVWDQGLQJ�RI�ZKHUH�\RXU�EXVLQHVV�LV�JRLQJ��\RX�NQRZ�\RXȇYH�JRW�D�VROLG�ȴQDQFLDO�PRGHO��\RXȇOO�KDYH�D�PXFK�KLJKHU�GHJUHH�RI�FRQȴGHQFH��DQG�LWȇV�JRLQJ�WR�LQFUHDVH�\RXU�FKDQFH�RI�VXFFHVV�ȋ
final WoRDs
Rabbior�Ȃ�Ȋ8OWLPDWHO\�ZH�QHHG�WR�WKLQN�DERXW�EHKDYLRU�DQG�ZK\�SHRSOH�DFW�WKH�ZD\�WKH\�GR��$IWHU�DOO��LQFHQWLYHV�DUH�ZKDW�GULYH�SHRSOHȇV�EHKDYLRU���WKH�TXHVW�IRU�UHZDUG�RU�EHQHȴW�RU�ZDQWLQJ�WR�HVFDSH�SHQDOW\�RU�SXQLVKPHQW��3URYLGLQJ�LQIRUPDWLRQ�VHOGRP�FKDQJHV�SHRSOH��EXW�LI�ZH�FDQ�FRPELQH�NQRZOHGJH�ZLWK�LQFHQWLYHV�DQG�GHPRQVWUDWLRQ�RI�YDOXH��ZH�FDQ�KHOS�SHRSOH�WR�FKDQJH�DQG�DFW�GLHUHQWO\��ΖI�ZH�WU\�WR�WKURZ�NQRZOHGJH�DW�WKHP�DQG�WHOO�WKHP�KRZ�WKH\�VKRXOG�EHKDYH��WKH\�ZLOO�FRQWLQXH�WR�OHDUQ�WKH�KDUG�ZD\�ȋ
laking�Ȃ�ȊΖ�KRSH�RQH�RI�WKH�LQFHQWLYHV�LV�SURȴW�Ȃ�LW�VKRXOG�EH�WKH�NH\�GULYHU�EHKLQG�WKH�HQWUHSUHQHXULDO�VSLULW�DQG�WKH�GHVLUH�WR�GHYHORS�VWURQJ�ȴQDQFLDO�OLWHUDF\�DFXPHQ��ΖW�LV�XOWLPDWHO\�WKH�HQWUHSUHQHXUȇV�UHVSRQVLELOLW\�WR�EHFRPH�DZDUH�RI�WKDW�DQG�DFW�XSRQ�WKDW�ȋ
Cates�Ȃ�ȊΖW�LV�SDLQ�RU�SOHDVXUH�DQG�PRVW�RI�WKH�WLPH�WKH\�GRQȇW�NQRZ�ZKDW�WKH\�GRQȇW�NQRZ��:KHQ�HQWUHSUHQHXUV�QHHG�FDSLWDO�Ȃ�WKDWȇV�D�SDLQ�SRLQW��DQG�WKH\�DUH�IRUFHG�WR�OHDUQ��7KH�NH\�WKLQJ�LV�KRZ�ZH�FDQ�PDNH�WKDW�QRW�EH�WKH�RQO\�WLPH�ZKHUH�HQWUHSUHQHXUV�QHHG�WR�WKLQN�WKLV�WKURXJK�ȋ
Deans�Ȃ�Ȋ$�KXJH�LQFHQWLYH�LV�WKH�LPSURYHG�FKDQFH�RI�VXFFHVV�Ȃ�WKDW�PHDQV�D�ORW�WR�HQWUHSUHQHXUV��2QH�WKLQJ�ZH�FDQ�GR�LV�WR�WHOO�VWRULHV�DQG�LOOXVWUDWH�KRZ�JUHDW�ȴQDQFLDO�FDSDELOLWLHV�KHOS�HQWUHSUHQHXUV�WR�EHFRPH�VXFFHVVIXO��7KH�PRUH�ZH�DOO�WHOO�WKH�VWRULHV��WKH�PRUH�SHRSOH�ZLOO�IROORZ�WKDW�URXWH�ȋ
![Page 20: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/20.jpg)
��
![Page 21: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/21.jpg)
��
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.
CanDiDaTes:• $FFHO�LR���6WDUWXS3OD\V��2WWDZD��21�• 0HGLD6SDUN���*R9HQWXUH�:RUOG��6\GQH\��16�• )XQGLFD��0RQWUHDO��4&�• 6WUDW3DG��9LFWRULD��%&�
sCoTT annan, aCCel.io/sTaRTuPPlays
Pain• 0DQ\�HQWUHSUHQHXUV��DQG�SHRSOH�LQ�JHQHUDO��DUH�VSHQGLQJ�D�
PDMRULW\�RI�WKHLU�WLPH�RQOLQH�WU\LQJ�WR�ȴJXUH�RXW�KRZ�WR�JURZ�WKHLU�EXVLQHVVHV��RU�VLPSO\�VROYH�D�SUREOHP���DQG�RIWHQ�JHW�FRQȵLFWLQJ�DGYLFH�RQ�GLHUHQW�VLWHV�DQG�HQG�XS�IUXVWUDWHG�
soluTion: aCCel.io• 6WHS�E\�VWHS�JXLGHV�ZULWWHQ�E\�WRSLFDO�H[SHUWV��DYDLODEOH�
LQ�PXOWLSOH�HDVLO\�DFFHVVLEOH�DQG�LPSOHPHQWDEOH�IRUPDWV��GHVFULSWLRQV��WLSV��YLGHRV��OLQNV��ȴOH�WHPSODWHV��HWF���
• 5HYHQXH�VKDUH�EHWZHHQ�H[SHUWV��$FFHO�LR��DQG�PDUNHWSODFH�SDUWQHUV�
• 4XDOLW\�FRQWURO�GRQH�E\�H[SHUWV�DQG�$FFHO�LR�HGLWRUV�
TRaCK ReCoRD• 7KH�SLORW�VLWH��6WDUWXS3OD\V��IRFXVHG�RQ�WHFKQRORJ\�
HQWUHSUHQHXUVKLS�DQG�KHOSHG��������HQWUHSUHQHXUV�ODXQFK�WKHLU�EXVLQHVV��JHW�IXQGHG��RU�LQFUHDVH�VDOHV�LQ�WKH�ȴUVW����PRQWKV�
fuTuRe Plans• $FFHO�LR�LV�H[SDQGLQJ�LQWR�RWKHU�PDUNHWV�VXFK�DV�ȴWQHVV��
SHUVRQDO�ȴQDQFH�DQG�LQYHVWLQJ��HWF��DQG�EXLOGLQJ�JXLGHV�WKDW�DOORZ�SHRSOH�WR�LPSOHPHQW�WKH�JXLGHVȇ�DGYLFH�LQ�WKHLU�GD\�WR�GD\�OLIH�
MaTheW geoRghiou, MeDiasPaRK/govenTuRe WoRlD
Pain• (QWUHSUHQHXUVKLS�KDV�D�VWHHS�OHDUQLQJ�FXUYH�DQG�D�KLJK�ULVN�DQG�
FRVW�RI�IDLOXUH��6R�IDU�WKHUH�LV�D�ODFN�RI�SURGXFWV�RQ�WKH�PDUNHW�WKDW�FDQ�PDNH�WKH�OHDUQLQJ�FXUYH�VPRRWKHU�DQG�DWWUDFW�PRUH�SHRSOH�LQWR�HQWUHSUHQHXUVKLS��EXLOGLQJ�WKHLU�ȴQDQFLDO�OLWHUDF\�VNLOOV�LQ�WKH�SURFHVV�
soluTion: govenTuRe WoRlD• 3DWHQW�SHQGLQJ��DXWKHQWLFDOO\�VLPXODWHG�00253*�EXVLQHVV�
JDPH�WKDW�FDQ�KHOS�SHRSOH�WR�WKLQN�DQG�PDNH�GHFLVLRQV�OLNH�UHDO�HQWUHSUHQHXUV�LQ�UHDO�ZRUOG�VLWXDWLRQV��JRYHUQHG�E\�UHDO�ZRUOG�SULQFLSOHV�DQG�PHFKDQLFV�
![Page 22: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/22.jpg)
22
![Page 23: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/23.jpg)
23
• ΖW�DLPV�WR�EH�VR�UHDOLVWLF�WKDW�WKH�VNLOOV�JDLQHG�IURP�LW�ZLOO�EH�LQWHUFKDQJHDEOH�ZLWK�WKH�UHDO�ZRUOG�
• ΖW�OHWV�\RX�SOD\�D�YDULHW\�RI�UROHV�WKDW�PLUURU�RFFXSDWLRQV�LQ�UHDO�OLIH�
TRaCK ReCoRD• 0HGLD6SDUN��0DWKHZȇV�HGXFDWLRQDO�JDPH�DQG�VLPXODWLRQ�
FRPSDQ\��KDV�VROG�*R9HQWXUH�JDPHV�DQG�VLPXODWLRQV�WR�)RUWXQH�����FRUSRUDWLRQV�DQG�WKRXVDQGV�RI�VFKRROV�LQ�HYHU\�VWDWH�LQ�WKH�86��HYHU\�SURYLQFH�LQ�&DQDGD��DQG�DURXQG�WKH�ZRUOG�
• 0RUH�WKDQ���PLOOLRQ�SHRSOH�DURXQG�WKH�ZRUOG�KDYH�JDLQHG�ȴQDQFLDO�OLWHUDF\�VNLOOV�XVLQJ�*R9HQWXUHȇV�ȴQDQFLDO�OLWHUDF\�VLPXODWLRQV�
fuTuRe Plans• $LPV�WR�EH�WKH�VLQJOH�ELJJHVW�LQQRYDWLRQ�LQ�WKH�KLVWRU\�RI�
HQWUHSUHQHXUVKLS�E\�OHYHUDJLQJ�DXWKHQWLF�VLPXODWLRQ�H[SHULHQFH�DQG�PDVVLYH�VFDOH�
MiKe lee, funDiCa
Pain• )LQGLQJ�IXQGLQJ�LV�D�PDMRU�SDLQ�SRLQW�IRU�HQWUHSUHQHXUV�Ȃ�WKH\�
*RRJOH��DVN�IULHQGV�DQG�DGYLVRUV��HWF��DQG�DIWHU�PXFK�VWUXJJOH�WKH\�XVXDOO\�FRPH�XS�ZLWK�IUDJPHQWHG��RXW�RI�GDWH��DQG�LQFRPSOHWH�OLVWV�RI�IXQGLQJ�VRXUFHV��7KLV�LV�D�VLJQLȴFDQW�ZDVWH�
RI�WLPH�IRU�HQWUHSUHQHXUV�DQG�LW�WDNHV�YDOXDEOH�WLPH�DQG�HQHUJ\�DZD\�IURP�EXLOGLQJ�WKHLU�EXVLQHVVHV�
• 7KHUH�DUH�DERXW�����LQVWLWXWLRQDO�IXQGHUV�LQ�&DQDGD�DQG�D�FRXQWOHVV�QXPEHU�RI�VPDOO�EXVLQHVVHV�Ȃ�WKH�%LJ�)LYH�%DQNV�VSHQG������PLOOLRQ�DQQXDOO\�RQ�PDUNHWLQJ�WR�WKHVH�EXVLQHVVHV�EXW�PDQ\�TXDOLȴHG�EXVLQHVVHV�UHPDLQ�XQIXQGHG��6RPHWKLQJ�FDQ�EH�GRQH�WR�FRQQHFW�WKHP�WRJHWKHU�PRUH�HɝFLHQWO\�
soluTion: funDiCa• $Q�HɝFLHQW��FURZG�GULYHQ��FRPSUHKHQVLYH��XS�WR�GDWH�DQG�XVHU�
IULHQGO\�VHDUFK�HQJLQH�IRU�IXQGLQJ�VRXUFHV�
• (QWUHSUHQHXUV�ȴOO�RXW�D�SURȴOH�ZLWKLQ�PLQXWHV�DQG�FDQ�LQVWDQWO\�JHW�D�UHVXOW�SDJH�WKDW�FDQ�EH�IXUWKHU�ȴOWHUHG�
• 7KH�FRPPXQLW\�PDLQWDLQV�UHOHYDQF\�DQG�DFFXUDF\��&XUUHQWO\�WKH�VLWH�LV����SHUFHQW�XS�WR�GDWH�
TRaCK ReCoRD• )XQGLFD�FXUUHQWO\�KDV�WKRXVDQGV�RI�XVHUV�DQG�LWV�DXGLHQFH�EDVH�
LV�JURZLQJ�UDSLGO\�
fuTuRe Plans• /RRNLQJ�WR�ZRUN�ZLWK�PRUH�VWUDWHJLF�SDUWQHUV�LQ�&DQDGD�DQG�
XOWLPDWHO\�LQ�WKH�86�
![Page 24: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/24.jpg)
24
![Page 25: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/25.jpg)
��
alex glassey, sTRaTPaD
Pain• 7KHUH�LV�D�ODFN�RI�KLJKO\�HHFWLYH�SURGXFWV�RQ�WKH�PDUNHW�WKDW�
FDQ�WDNH�VPDOO�EXVLQHVV�RZQHUV�WKURXJK�D�VWHS�E\�VWHS�EXVLQHVV�HGXFDWLRQ�DQG�SODQQLQJ�SURFHVV��JHQHUDWH�UHSRUWV�DQG�WUDFN�VWUDWHJLF�PHWULFV�WKURXJK�D�XVHU�IULHQGO\�LQWHUIDFH
• (QWUHSUHQHXUV�VSHQG�WRR�PXFK�WLPH�FUDIWLQJ�UHSRUWV�DQG�RWKHU�GHOLYHUDEOHV�E\�KDQG�LQ�RUGHU�WR�FRPPXQLFDWH�H[WHUQDOO\�WR�DFTXLUH�FDSLWDO��HWF�
soluTion: sTRaTPaD• $Q�L3DG�DSS�WKDW�HGXFDWHV�HQWUHSUHQHXUV�RQ�WKH�ȴQDQFLDO�
IXQGDPHQWDOV�RI�WKHLU�EXVLQHVVHV�WKURXJK�RQ�GHPDQG�YLGHRV��WXWRULDOV��DQG�WRRONLWV�
• 2HUV�D�VWHS�E\�VWHS�SURFHVV�WR�FUHDWH�D�EXVLQHVV�SODQ��ZKLFK�FDQ�WDNH�OHVV�WKDQ�D�KRXU�WR�FRPSOHWH��DQG�SURGXFH�QLQH�LQYHVWRU�UHDG\�UHSRUWV��VXFK�DV�PXOWL�\HDU�LQFRPH�SURMHFWLRQ��*DQWW�FKDUW��DQG�SURMHFW�SODQ��HWF�
• %XLOW�LQ�EXVLQHVV�LQWHOOLJHQFH�WR�WUDFN�DFWXDO�UHVXOWV�DQG�PDNH�LQIRUPHG�SLYRW�GHFLVLRQV�
TRaCK ReCoRD• 2YHU��������GRZQORDGV�LQ�WKH�$SSOH�DSSVWRUH�JOREDOO\
• 9RWHG�WKH�KLJKHVW�UDWHG�EXVLQHVV�VWUDWHJ\�SODQQLQJ�DSS�LQ�WKH�world
• ���SHUFHQW�RI�XVHUV�XVH�6WUDW3DG�WR�UDLVH�PRQH\�DQG�WKH\�UDLVH�RQ�DYHUDJH���������
fuTuRe Plans• /RRNLQJ�WR�WUDQVIRUP�WKH�ZD\�HQWUHSUHQHXUV�WKLQN�DERXW�DQG�
SODQ�IRU�WKHLU�EXVLQHVVHV�
PeoPle’s ChoiCe AwArd winner - strAtPAd
![Page 26: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/26.jpg)
26
![Page 27: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/27.jpg)
��
ConClusion
ΖQ�RUGHU�WR�ERRVW�WKH�ȴQDQFLDO�OLWHUDF\�VNLOOV�DPRQJ�&DQDGDȇV�HQWUHSUHQHXUV��ZH�PXVW�FROOHFWLYHO\�
• 5HGXFH�SDSHU�EXUGHQ�DURXQG�JRYHUQPHQW�UHJXODWLRQV�DQG�LPSURYH�FXVWRPHU�VHUYLFH�
• 5HIRUP�WKH�.����HGXFDWLRQ�WR�EH�UHDO�ZRUOG�FRPSHWHQF\�EDVHG�UDWKHU�WKDQ�FRQWHQW�DQG�RXWFRPH�EDVHG�
• 0DNH�WKH�ULJKW�ȴQDQFLDO�PDQDJHPHQW�WRROV�DQG�UHVRXUFHV�DYDLODEOH�WR�HQWUHSUHQHXUV�DW�DQ�DRUGDEOH�UDWH��LQ�XVHU�IULHQGO\��GLJHVWLEOH�SDFNDJHV�
• *HQHUDWH�DZDUHQHVV�RI�WKH�LPSRUWDQFH�RI�ȴQDQFLDO�OLWHUDF\�DQG�FDWFK�HQWUHSUHQHXUV�DW�WKH�ULJKW�WLPH�ZKHQ�WKH\�DUH�LQ�WKH�ULJKW�VWDWH�RI�PLQG�WR�FRQVXPH�ȴQDQFLDO�NQRZOHGJH�DQG�JHW�KHOS�
• 'HVLJQ�LQWHOOLJHQW�LQFHQWLYHV�WR�UHZDUG�HQWUHSUHQHXUV�IRU�OHDUQLQJ�ȴQDQFLDO�OLWHUDF\�
• $FFHOHUDWH�WKH�GHYHORSPHQW�RI�LQQRYDWLYH��GLVUXSWLYH�ȴQDQFLDO�HGXFDWLRQ�DQG�PDQDJHPHQW�WHFKQRORJ\�DQG�LQFUHDVH�VXSSRUW�WR�VWDUWXSV�ZKR�EXLOG�VXFK�WHFKQRORJ\��DQG�
• (VWDEOLVK�HQWUHSUHQHXULDO�UROH�PRGHOV�DQG�WHOO�WKH�VWRU\�RI�KRZ�ȴQDQFLDO�OLWHUDF\�FRQWULEXWHV�WR�WR�VXFFHVV�UDWHV�
Call To aCTion
7KLV�HYHQW�LV�EXW�D�SUHFXUVRU�RI�ZKDW�QHHGV�WR�EHFRPH�D�IXOO�ȵHGJHG�LQLWLDWLYH�WR�VROYH�WKH�ȴQDQFLDO�OLWHUDF\�FKDOOHQJH��1RZ�LV�WKH�WLPH�WKDW�DOO�VWDNHKROGHUV�Ȃ�JRYHUQPHQW��LQGXVWU\�H[SHUWV��QRQ�SURȴW�OHDGHUV�DQG�HQWUHSUHQHXUV�Ȃ�PXVW�XQLWH�WR�FRPEDW�WKLV�FKDOOHQJH�ZLWK�FUHDWLYLW\�DQG�GLOLJHQFH��2QO\�WKURXJK�D�KLJKO\�FRRUGLQDWHG�LQLWLDWLYH�Ȃ�WDFNOLQJ�WKLV�FKDOOHQJH�RQ�PXOWLSOH�IURQWV��ZLWK�VXVWDLQHG��ORQJ�WHUP�HRUW�Ȃ�FDQ�ZH�XOWLPDWHO\�SUHYDLO�DQG�XVKHU�LQ�D�QHZ�HUD�RI�SURVSHULW\�IRU�RXU�JUHDW�FRXQWU\�
![Page 28: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/28.jpg)
��
aPPenDix a – suPPoRTing blogs
finanCial sMaRTs Can MaKe oR bReaK sTaRTuPsBy Jana Makar | Startup Canada Communications Manager Thursday, March 7, 2013
+RZ�GR�\RX�JHW�D�FUHDWLYH��ULJKW�EUDLQHG��DEVWUDFW�WKLQNHU�WR�JHW�H[FLWHG�DERXW�EXVLQHVV�DFFRXQWLQJ�DQG�EDODQFH�VKHHWV"
ΖW�PD\�VRXQG�OLNH�DQ�XQOLNHO\�PDUULDJH��EXW�LWȇV�D�VFHQDULR�ȃ�DQG�RIWHQ�D�SDLQ�SRLQW�ȃ�PDQ\�HQWUHSUHQHXUV�IDFH��ΖW�ZDV�DOVR�WKH�WKHPH�RI�D�UHFHQW�HYHQW�KRVWHG�E\�6WDUWXS�&DQDGD��ΖQWXLW�&DQDGD��DQG�RWKHU�&DQDGLDQ�VPDOO�EXVLQHVV�VHFWRU�OHDGHUV��%ULGJLQJ�WKH�)LQDQFLDO�/LWHUDF\�*DS��WKH�ȴUVW�LQ�D�QHZ�6WDUWXS�&DQDGD�VHULHV�RI�HYHQWV�WDFNOLQJ�KRW�EXWWRQ�VWDUWXS�LVVXHV��ZDV�LQVSLUHG�E\�D�UHFHQW�VWXG\�FRQGXFWHG�E\�ΖQWXLW�&DQDGD�WKDW�UHYHDOHG����SHUFHQW�RI�&DQDGLDQ�VPDOO�EXVLQHVV�RZQHUV�KDYH�D�EDVLF��RU�ORZHU��JUDVS�RI�ȴQDQFLDO�IXQGDPHQWDOV�
Ȋ:KHQ�ZH�DVNHG�VPDOO�EXVLQHVVHV��ȆΖI�\RX�ZHUH�WR�JR�EDFN�DQG�GR�LW�DJDLQ��ZKDW�ZRXOG�\RX�GR�GLHUHQWO\"ȇ�WKH�QXPEHU�RQH�WKLQJ�WKH\�VDLG�ZDV�WKDW�WKH\�ZLVKHG�WKH\�KDG�VSHQW�PRUH�WLPH�XQGHUVWDQGLQJ�ȴQDQFLDO�PDQDJHPHQW�VNLOOV��OLNH�HVWDEOLVKLQJ�D�EXVLQHVV�SODQ��JHWWLQJ�D�PHQWRU��DQG�JHWWLQJ�SURIHVVLRQDO�EXVLQHVV�DGYLFH�ȋ�VDLG�-H�&DWHV��0DQDJLQJ�'LUHFWRU�RI�ΖQWXLW�&DQDGD��DQG�D�NH\QRWH�VSHDNHU�DW�WKH�HYHQW�
$W�WKH�EHJLQQLQJ�RI�WKHLU�VWDUWXS�FDUHHUV��ZKHQ�LGHDV�DUH�IUHVK�DQG�LQVSLUDWLRQ�LV�UXQQLQJ�KLJK��PRVW�HQWUHSUHQHXUV�DUH�QRW�LQWHUHVWHG�LQ�GLYLQJ�GHHS�LQWR�WKH�ȴQDQFLDO�GHWDLOV�RI�UXQQLQJ�D�EXVLQHVV��VDLG�*DU\�5DEELRU��3UHVLGHQW�RI�WKH�&DQDGLDQ�)RXQGDWLRQ�IRU�(FRQRPLF�(GXFDWLRQ��&)((���DV�SDUW�RI�D�SDQHO�GLVFXVVLRQ�DW�WKH�HYHQW�Ȋ0RQH\�LQ�PRVW�FDVHV�LV�QRW�HYHQ�WKH�PRWLYDWRU�ȋ�KH�VDLG��Ȋ7KH\ȇG�
SXW�LW�DOO�DW�ULVN�WR�GR�LW�DJDLQ�EHFDXVH�\RXȇYH�WXUQHG�RQ�WKH�GHVLUH�WR�DFFRPSOLVK�WKLQJV��WR�VHW�D�JRDO�WR�GR�LW��WR�EULQJ�WKH�UHVRXUFHV�WRJHWKHU�WR�XVH�\RXU�FUHDWLYLW\�DQG�LQQRYDWLRQ�WR�GR�LW��7KH�PRQH\�LV�D�VFRUHFDUG��LWȇV�QRW�ZKHUH�WKHLU�KHDG�LV�DW�ȋ
6R�ZKHQ�GR�PRVW�HQWUHSUHQHXUV�OHDUQ�WKHLU�ȴQDQFLDO�URSHV"�2IWHQ�ZKHQ�WKH\�FDQȇW�DYRLG�LW�DQ\�ORQJHU�
Ȋ:KHQ�\RX�KDYH�WR�JR�IRU�FDSLWDO��WKDWȇV�D�SDLQ�SRLQW�DQG�WKHQ�WKH\ȇUH�IRUFHG�WR�OHDUQ�ȋ�VDLG�&DWHV�
7KH�FKDOOHQJH�LV�IXUWKHU�FRPSRXQGHG�E\�D�VWLJPD�WKDW�ȴQDQFLDO�VPDUWV�DUH�WRR�KDUG�RU�WRR�LQWLPLGDWLQJ�WR�JUDVS��D�QRWLRQ�WKDW�LV�RIWHQ�LQLWLDWHG�RU�H[DFHUEDWHG�DW�WKH�VHFRQGDU\�VFKRRO�OHYHO�
Ȋ7KH�ZD\�ZH�DUH�WHDFKLQJ�PDWK�DQG�WKH�FRQFHSWV�DQG�WKH�DEVWUDFWV�WKDW�JR�LQWR�WKH�WKLQNLQJ�DERXW�LW�WXUQV�NLGV�R�ȋ�VDLG�5DEELRU��Ȋ:HȇUH�GRLQJ�D�EDG�MRE�RI�LW�DQG�DV�VXFK�ZHȇUH�OLYLQJ�ZLWK�WKH�OHJDF\�ZKHUH�WKH\�GRQȇW�WKLQN�WKH\�FDQ�GR�LW��HYHQ�WKRXJK�WKH\�VKRXOG�GR�LW��DQG�ZH�KDYH�D�JDS�LQ�WKH�PLGGOH�ȋ
$FFRUGLQJ�WR�6WDWLVWLFV�&DQDGD�����SHUFHQW�RI�HDUO\�VWDJH�VWDUWXSV�PDNH�LW�WKURXJK�WKHLU�ȴUVW�\HDU�RI�EXVLQHVV��EXW�RQO\����SHUFHQW�VXUYLYH�WKURXJK�\HDU�ȴYH��6WDUWLQJ�D�EXVLQHVV�RQ�VRXQG�ȴQDQFLDO�IRRWLQJ�LV�HVVHQWLDO�WR�UHYHUVLQJ�WKLV�WUHQG��VDLG�&DWHV�
Ȋ:H�EHOLHYH�WKDW�WKH�VLQJOH�PRVW�LPSRUWDQW�WKLQJ�ZH�FDQ�GR�WR�KHOS�PRUH�VPDOO�EXVLQHVVHV�VXFFHHG�LV�WR�LQFUHDVH�DZDUHQHVV�DERXW�ȴQDQFLDO�OLWHUDF\��DQG�PDNH�PRUH�WRROV�DQG�UHVRXUFHV�DYDLODEOH�ȋ�VDLG�&DWHV�
![Page 29: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/29.jpg)
��
ȊΖW�KDV�WR�EH�VRPHWKLQJ�WKDW�LV�SDUW�RI�RXU�HGXFDWLRQ�V\VWHP�ȋ�VDLG�SDQHOLVW�-XOLD�'HDQV��&(2�RI�&DQDGLDQ�<RXWK�%XVLQHVV�)RXQGDWLRQ��&<%)���ȊΖW�KDV�WR�EH�VRPHWKLQJ�WKDW�SDUHQWV�WDON�WR�WKHLU�NLGV�DERXW�DQG�PRGHO�IRU�WKHLU�NLGV�DQG�LW�KDV�WR�EH�VRPHWKLQJ�WKDW�ZH�WHOO�PRUH�VWRULHV�DERXW�ȋ
6KH�DGGHG�WKDW�D�PHUH����SHUFHQW�RI�WKH�FOLHQWV�ZKR�ZDON�WKURXJK�&<%)ȇV�GRRU�FRPH�ZLWK�D�EXVLQHVV�SODQ�RU�EDVH�ȴQDQFLDO�VNLOOV�
ȊΖW�WHOOV�\RX�SHRSOH�DUH�FRPLQJ�ZLWK�SDVVLRQ�DQG�ZLWK�LGHDV��QRW�QHFHVVDULO\�ZLWK�D�KROLVWLF�YLHZ�RI�ZKDW�LW�WDNHV�WR�VWDUW�D�EXVLQHVV�ȋ�VKH�VDLG�
)URP�D�YHQWXUH�FDSLWDOLVWȇV�SHUVSHFWLYH��ȴQDQFLDO�OLWHUDF\�LV�DV�LPSRUWDQW�IRU�FUDIWLQJ�D�ZLQQLQJ�SLWFK�DV�LW�LV�IRU�EXLOGLQJ�D�VROLG�EXVLQHVV�SODQ�
ȊΖ�WKLQN�WKHUHȇV�D�UHTXLUHPHQW�IRU�HYHU\�HQWUHSUHQHXU��LI�WKH\ȇUH�JRLQJ�WR�SXW�WKHLU�VWLFN�RQ�WKH�LFH��WR�UHDOL]H�LW�LV�D�FRUH�UHTXLUHPHQW�IRU�WKHLU�VXFFHVV�ȋ�VDLG�SDQHOLVW�/DQFH�/DNLQJ��ΖQYHVWPHQW�'LUHFWRU�DW�WKH�0D56�ΖQYHVWPHQW�$FFHOHUDWRU�)XQG��Ȋ7KH�YDVW�PDMRULW\�RI�FRPSDQLHV�UHTXLUH�H[WHUQDO�FDSLWDO�DQG�LWȇV�WKH�DELOLW\�IRU�WKH�HQWUHSUHQHXU�WR�DUWLFXODWH�WKH�EXVLQHVV�RSSRUWXQLW\�DQG�WR�VSHDN�ZLWK�D�GHJUHH�RI�FRPSHWHQFH�DQG�FRQȴGHQFH�DURXQG�WKH�ȴQDQFLDO�SURMHFWLRQV�DQG�ȴQDQFLDO�RSSRUWXQLW\�RI�WKH�EXVLQHVV�WKDW�LV�HTXDOO\�LPSRUWDQW�ȋ
/DFN�RI�ȴQDQFLDO�OLWHUDF\�VNLOOV�LVQȇW�MXVW�DQ�LVVXH�IRU�HQWUHSUHQHXUV��$������VWXG\�E\�&DQDGDȇV�7DVN�)RUFH�RQ�)LQDQFLDO�/LWHUDF\�UHSRUWHG�WKDW�PDQ\�&DQDGLDQ�FRQVXPHUV�LQ�JHQHUDO�DUH�LOO�HTXLSSHG�WR�GHDO�ZLWK�ȴQDQFLDO�PDWWHUV��)RU�H[DPSOH��RQO\����SHUFHQW�RI�&DQDGLDQV�DW�WKH�WLPH�KDG�D�EXGJHW��DQG�RQO\����SHUFHQW�KDG�D�JRRG�LGHD�RI�KRZ�PXFK�WR�VDYH�IRU�UHWLUHPHQW��+RXVHKROG�GHEW�KDG�ULVHQ�IURP����
SHUFHQW�RI�GLVSRVDEOH�LQFRPH�LQ������WR�����SHUFHQW�LQ������Ȃ�WKH�KLJKHVW�OHYHO�LQ�KLVWRU\�
ΖQ�LWV�UHSRUW�WR�WKH�0LQLVWHU�RI�)LQDQFH��WKH�7DVN�)RUFH�UHFRPPHQGHG�QXPHURXV�DFWLRQ�SODQV��VXFK�DV�DSSRLQWLQJ�D�QDWLRQDO�GLUHFWRU�RI�ȴQDQFLDO�OLWHUDF\��LQWHJUDWLQJ�ȴQDQFLDO�OLWHUDF\�LQWR�.����FXUULFXOD��ZRUNSODFH�WUDLQLQJ�DQG�JRYHUQPHQW�SURJUDPV��DV�ZHOO�DV�FUHDWLQJ�VHUYLFHV�DQG�WRROV�WR�EH�RHUHG�WKURXJK�QRW�IRU�SURȴW�FKDQQHOV�
:LWKLQ�WKH�VPDOO�EXVLQHVV�VHFWRU��ΖQWXLW�&DQDGD�LV�DFWLQJ�RQ�WKH�LVVXH�E\�FROODERUDWLQJ�ZLWK�&<%)�WKLV�\HDU�WR�ODXQFK�D�QHZ�SURJUDP�WKDW�ZLOO�JLYH����VPDOO�EXVLQHVVHV�DFFHVV�WR�ȴQDQFLDO�SODQQLQJ�WRROV�DQG�DFFRXQWDQW�PHQWRUV�WR�KHOS�JHW�WKHP�VWDUWHG��)HHGEDFN�IURP�WKH�SDUWLFLSDQWV�ZLOO�WKHQ�EH�XVHG�WR�GHYHORS�QHZ�SURJUDPV�DQG�QHZ�ZD\V�WR�HGXFDWH�VWDUWXSV�RQ�ȴQDQFLDO�OLWHUDF\�
ȊΖȇP�UHDOO\�H[FLWHG�DERXW�WKDW�EHFDXVH�ZKDW�ZHȇYH�OHDUQHG�LV�WKDW�OHDUQLQJ�IURP�VPDOO�EXVLQHVVHV�LV�UHDOO\�WKH�DQVZHU�ȃ�LW�ZRQȇW�FRPH�IURP�WKH�WRS�GRZQ��LW�FRPHV�IURP�HQWUHSUHQHXUV�WKHPVHOYHV�ȋ�VDLG�&DWHV�
$W�&<%)��'HDQV�VDLG�DQRWKHU�NH\�LQJUHGLHQW�IRU�KHOSLQJ�HQWUHSUHQHXUV�JHW�PRUH�FRPIRUWDEOH�ZLWK�QXPEHUV�LV�WR�VKDUH�VWRULHV�RI�KRZ�ȴQDQFLDO�VPDUWV�FDQ�WUDQVODWH�LQWR�VWDUWXS�ZLQV�
Ȋ$�KXJH�LQFHQWLYH�LV�WKH�LPSURYHG�FKDQFH�RI�VXFFHVV�DQG�WKDW�PHDQV�D�ORW�WR�HQWUHSUHQHXUV�ȋ�VDLG�'HDQV��Ȋ7KH�PRUH�ZH�DOO�WHOO�WKRVH�VWRULHV�� WKRVH�VWRULHV�ZLOO�JHW�SHRSOH�WR�IROORZ�WKDW�URXWH�ȋ
7KH�%ULGJLQJ�WKH�)LQDQFLDO�/LWHUDF\�*DS�HYHQW�ZUDSSHG�XS�ZLWK�D�SLWFK�VHVVLRQ�DQG�DZDUGV�FHUHPRQ\�VKRZFDVLQJ�IRXU�&DQDGLDQ�VWDUWXSV�WKDW�KDYH�GHYHORSHG�VROXWLRQV�WR�WKH�ȴQDQFLDO�OLWHUDF\�FKDOOHQJH�
![Page 30: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/30.jpg)
��
6WUDW3DG��9LFWRULD��%&���$FFHO�LR��2WWDZD��21���)XQGLFD��0RQWUHDO��4&���DQG*R9HQWXUH��6\GQH\��16��ZHUH�VHOHFWHG�IURP�QHDUO\����ȴQDOLVWV�IURP�DFURVV�WKH�FRXQWU\�WR�UHFHLYH�D�)LQDQFLDO�/LWHUDF\�6WDUWXS�$ZDUG��VSRQVRUHG�E\�ΖQWXLW�&DQDGD��6WUDW3DG��DQ�L3DG�DSS�WKDW�KHOSV�FRPSDQLHV�XQGHUVWDQG��SODQ��WUDFN�DQG�VKDUH�WKHLU�ȴQDQFLDO�RXWORRN��WRRN�KRPH�GRXEOH�KRQRXUV�E\�DOVR�VFRULQJ�D�3HRSOHȇV�&KRLFH�$ZDUG�
6WUDWSDG�FUHDWRU�$OH[�*ODVVH\ȇV�DGYLFH�WR�RWKHU�HQWUHSUHQHXUV�LV�WR�WDNH�WKH�WLPH�HDUO\�LQ�WKHLU�VWDUWXS�FDUHHUV�WR�HGXFDWH�WKHPVHOYHV�DQG�EXLOG�D�FRPSUHKHQVLYH�EXVLQHVV�SODQ�
Ȋ7KH�EXVLQHVV�SODQ�LV�ZKHUH�\RXU�FUHDWLYLW\�DQG�\RXU�ȴQDQFLDO�OLWHUDF\�PHHW�LQ�RUGHU�WR�EULQJ�\RXU�LGHDV�IRUZDUG�ȋ�*ODVVH\�VDLG�
ΖI�\RX�PLVVHG�WKH�%ULGJLQJ�WKH�)LQDQFLDO�/LWHUDF\�*DS�HYHQW��DQ�DUFKLYH�YLGHR�RI�WKH�NH\QRWH��SDQHO��DQG�SLWFKHV�FDQ�EH�IRXQG�KHUH��7KH�HYHQW�ZDV�PDGH�SRVVLEOH�WKURXJK�WKH�VXSSRUW�RI�WKH�7HOIHU�6FKRRO�RI�0DQDJHPHQW�DQG�6WDUWXS�&DQDGDȇV�QDWLRQDO�VSRQVRUV�0LFURVRIW��*RZOLQJV��DQG�(UQVW��<RXQJ��ΖI�\RX�DUH�LQWHUHVWHG�LQ�OHDUQLQJ�PRUH�DERXW�ΖQWXLW�&DQDGDȇV�VXUYH\�RI�VPDOO�EXVLQHVV�RZQHUV�DQG�WKH�UHVXOWV�RI�LWV�VWXG\��FOLFN�KHUH�
3ODQQLQJ�KDV�EHJXQ�IRU�6WDUWXS�&DQDGDȇV�QH[W�/LYH�6HULHV�HYHQW��'HWDLOV�ZLOO�EH�DQQRXQFHG�LQ�WKH�FRPLQJ�PRQWKV��6WD\�WXQHG�WR�6WDUWXS�&DQDGDȇV�ZHEVLWH�RU�IROORZ�6WDUWXS�&DQDGD�RQ�7ZLWWHU��)DFHERRN�DQG�/LQNHGΖQ�
seCReT To suCCess? finanCial KnoW-hoW By Julia Deans | CEO, Canadian Youth Business Foundation (CYBF) Tuesday, February 26, 2013
0RVW�&DQDGLDQV�GR�D�EDG�MRE�RI�PDQDJLQJ�WKHLU�ȴQDQFHV��7KH�DYHUDJH�FRQVXPHU�GHEW�LV����������H[FOXGLQJ�PRUWJDJHV���RQO\����SHUFHQW�RI�&DQDGLDQV�EXGJHW��DQG����SHUFHQW�KDYH�PRUH�GHEW�WKDQ�WKH\�GLG�ȴYH�\HDUV�DJR�
*LYHQ�WKLV��LWȇV�QRW�VXUSULVLQJ�KRZ�PDQ\�HQWUHSUHQHXUV�ODFN�WKH�ȴQDQFLDO�NQRZ�KRZ�WR�HQVXUH�WKHLU�EXVLQHVV�VXFFHVV��2QO\�DURXQG����SHUFHQW�RI�WKH�������\RXQJ�HQWUHSUHQHXUV�WKH�&DQDGLDQ�<RXWK�%XVLQHVV�)RXQGDWLRQ��&<%)��KDV�KHOSHG�VWDUWHG�RXW�ZLWK�D�EDVLF�XQGHUVWDQGLQJ�RI�ȴQDQFLDO�IXQGDPHQWDOV��DQG�IHZHU�WKDQ���SHUFHQW�KDG�D�FDVK�ȵRZ�SURMHFWLRQ��7KH�PDMRULW\�KDG�QHYHU�SXOOHG�D�FUHGLW�UHSRUW�RQ�WKHPVHOYHV��DQG�DOPRVW�KDOI�KDG�QHYHU�ORRNHG�DW�D�FUHGLW�UHSRUW�
7DFNOLQJ�ȴQDQFLDO�LOOLWHUDF\�ZLOO�UHTXLUH�EXLOGLQJ�EDVLF�VNLOOV�WUDLQLQJ�DQG�HQWUHSUHQHXULDO�UHDGLQHVV�LQWR�HGXFDWLRQ�DQG�HQFRXUDJLQJ�&DQDGLDQV�WR�EH�PRUH�FRQȴGHQW�LQ�PDQDJLQJ�WKHLU�ȴQDQFHV��8QWLO�WKDW�KDSSHQV��KRZ�FDQ�QHZ�HQWUHSUHQHXUV�JHW�WKH�ȴQDQFLDO�VNLOOV�WKH\�QHHG�WR�DYRLG�EHFRPLQJ�\HW�DQRWKHU�IDLOHG�VWDUW�XS"
)LUVW��WKH\�PXVW�DFNQRZOHGJH�WKDW�XQGHUVWDQGLQJ�WKH�QXPEHUV�LV�DV�HVVHQWLDO�WR�WKHLU�VXFFHVV�DV�KDYLQJ�D�JUHDW�LGHD�DQG�UHOHYDQW�H[SHULHQFH��&<%)ȇV�(QWUHSUHQHXUV�ΖQ�5HVLGHQFH�RIWHQ�KHDU�\RXQJ�HQWUHSUHQHXUV�VD\��ȊWKH�ȴQDQFLDO�VWX�LV�MXVW�QRW�P\�IRUWH�ȋ�)LQDQFLDO�PDQDJHPHQW�LV�WKH�ELJJHVW�LVVXH�RXU�PHQWRUV�GHDO�ZLWK��+LULQJ�DQ�DFFRXQWDQW�LV�QRW�HQRXJK�ȃ�EXVLQHVV�RZQHUV�PXVW�XQGHUVWDQG�WKH�QXPEHUV�DQG�NQRZ�HQRXJK�WR�NQRZ�ZKHQ�WKH\�QHHG�PRUH�KHOS�
![Page 31: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/31.jpg)
��
6HFRQG��HQWUHSUHQHXUV�VKRXOG�DYRLG�WKH�ELJJHVW�ȴQDQFLDO�PDQDJHPHQW�SLWIDOOV�E\�
• 6WDUWLQJ�ZLWK�D�VWURQJ�EXVLQHVV�SODQ�ΖQFOXGH�UHDOLVWLF�VWDUW�XS�FRVWV�VXFK�DV�OHJDO��DFFRXQWLQJ�DQG�WD[�SODQQLQJ�IHHV��D�GHWDLOHG�PRQWK�E\�PRQWK�FDVK�ȵRZ�IRU�WKH�ȴUVW�WZR�\HDUV�WKDW�LQFOXGHV�SURMHFWHG�PRQWKO\�UHYHQXHV��PDUNHWLQJ�DQG�DGYHUWLVLQJ�H[SHQVHV��OHDVLQJ�DQG�VWDɝQJ�FRVWV��RWKHU�UHYHQXH�DQG�H[SHQVH�VWUHDPV��DQG�DGG�D�KHDOWK\�FRQWLQJHQF\�
• .QRZLQJ�ZKHUH�WKH�PRQH\ȇV�JRLQJ�.HHS�WUDFN�RI�UHYHQXHV�DQG�H[SHQVHV�RQ�D�PRQWKO\�EDVLV��3RRU�FDVK�ȵRZ�OHDGV�WR�EDG�GHFLVLRQV�DQG�LV�D�SULPDU\�FDXVH�RI�VPDOO�EXVLQHVV�IDLOXUH��)RU�H[DPSOH��ORFNLQJ�LQWR�D�EDFN�ORDGHG�OHDVH�KDV�EHHQ�WKH�GRZQIDOO�RI�PDQ\�DQ�HQWUHSUHQHXU�RYHUO\�RSWLPLVWLF�DERXW�WKHLU�DELOLW\�WR�HDUQ�D�SURȴW�
7KLUG��HQWUHSUHQHXUV�VKRXOG�JHW�KHOS��DQG�ZH�VKRXOG�PDNH�WKDW�HDVLHU�WR�GR��&<%)�KHOSV�&DQDGLDQV�DJHG�������LPSURYH�WKHLU�RGGV�RI�VXFFHVV�ZLWK�EXVLQHVV�SODQQLQJ�DVVLVWDQFH��ȴQDQFLDO�VNLOOV�WUDLQLQJ�DQG�WHPSODWHV��RQH�RQ�RQH�PHQWRULQJ��DQG�RWKHU�UHVRXUFHV��EXW�ZHȇUH�MXVW�RQH�SLHFH�RI�WKH�SX]]OH��*RYHUQPHQW��DFDGHPLF��EXVLQHVV�DQG�QRQ�SURȴW�VHUYLFH�SURYLGHUV�PXVW�ZRUN�EHWWHU�WRJHWKHU�WR�SURPRWH�DQ�DFFXUDWH�SLFWXUH�RI�HQWUHSUHQHXUVKLS�DQG�WKH�ȴQDQFLDO�VNLOOV�LW�UHTXLUHV��DQG�WR�FRYHU�R�WKH�QHHGV�RI�HQWUHSUHQHXUV�DQG�PDNH�LW�FOHDU�ZKHUH�WKH\�FDQ�JHW�KHOS�
7KH�XSVLGHV�RI�JHWWLQJ�FRPIRUWDEOH�ZLWK�WKH�QXPEHUV�DUH�ELJ��:KHQ�0HDJKDQ�*LXVWL�RSHQHG�WKH�%URDGZD\�$UWV�&HQWUH��VKH�VRXJKW�KHOS�WR�PDQDJH�WKH�RYHUKHDG�FRVWV�LQYROYHG�Ȃ�������VTXDUH�IHHW�RI�VWXGLR�VSDFH�DQG����VWD��Ȋ%HIRUH�\RX�VWDUW�LQ�EXVLQHVV��\RX�DUH�MXVW�SOD\LQJ�ZLWK�WKH�QXPEHUV�DQG�DUH�ZLVKIXO�DQG�KRSHIXO�ȋ�VKH�VD\V��Ȋ&<%)�
KHOSHG�PH�WR�VHH�WKH�UHDOLW\�RI�ȴQDQFLDO�PDQDJHPHQW�DQG�WKDW�FDVK�ȵRZ�LV�WKH�OLIHOLQH�RI�D�EXVLQHVV��:LWKRXW�WKDW�XQGHUVWDQGLQJ��P\�EXVLQHVV�ZRXOG�QRW�EH�ȴQDQFLDOO\�VWDEOH�ȋ
sPoTlighT: sCoTT annan, aCCel.io & sTaRTuPPlaysBy Shannon Fox | Startup Insights ManagerThursday, February 21, 2013
scott annan accel.io and startupPlays.com @accelio / @startupplays / @scottannan
6FRWW�$QQDQ�ZDV�QHYHU�D�IDQ�RI�WUDGLWLRQDO�HGXFDWLRQ�FKDQQHOV��7KURXJK�KLV�RZQ�HQGHDYRXUV��KH�OHDUQHG�WKH�YDOXH�RI�H[SHULHQFH�RYHU�FRQFHSWXDO�NQRZOHGJH��DQG�FUHDWHG�$FFHO�LR�DQG�6WDUWXS3OD\V�FRP�WR�OHYHUDJH�WKLV�GLVUXSWLYH�DSSURDFK�WR�HGXFDWLRQ�LQ�HQWUHSUHQHXUVKLS��6FRWWȇV�SURGXFWV�VRXUFH�WKH�NQRZOHGJH�DQG�H[SHULHQFH�RI�OHDGHUV�LQ�HQWUHSUHQHXUVKLS��UHVXOWLQJ�LQ�SUDFWLFDO��GHWDLOHG��VWHS�E\�VWHS�JXLGHV��$OEHLW�WDNLQJ�DQ�XQFRQYHQWLRQDO�DSSURDFK��6FRWW�DQG�KLV�WHDP�KDYH�H[SHULHQFHG�RYHUZKHOPLQJ�VXFFHVV��ZLWKLQ�WKH�ODVW����PRQWKV�DORQH��WKH\�KDYH�KHOSHG�RYHU��������VPDOO�EXVLQHVV�RZQHUV�DQG�HQWUHSUHQHXUV�DFKLHYH�WKHLU�JRDOV�XVLQJ�H[SHUWȇV�SURFHVV�DQG�NQRZOHGJH�
WhaT MoTivaTeD you To sTaRT aCCel.io?
�KDWH�VFKRRO���GURSSHG�RXW�RI�VFKRRO�ZKHQ��ZDV����EHFDXVH��IRXQG�LW�ERULQJ�DQG�LPSUDFWLFDO��$OWKRXJK��HYHQWXDOO\�UHWXUQHG�WR�VFKRRO�DQG�FRPSOHWHG�D�JUDGXDWH�GHJUHH���VWLOO�UHVHQW�WKH�WUDGLWLRQDO�ZD\�RI�WHDFKLQJ�ZKLFK�KDV�QRZ�EHHQ�H[WHQGHG�WR�RQOLQH�OHDUQLQJ��D�VLQJOH�
![Page 32: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/32.jpg)
32
ȊWHDFKHUȋ�ZKR�OHFWXUHV�FRQFHSWV�WR�VWXGHQWV�ZKR�PD\�RU�PD\�QRW�NQRZ�KRZ�WR�DSSO\�WKRVH�FRQFHSWV��-XVW�LPDJLQH�WKH�PLOOLRQV�RI�KRXUVLQYHVWHG�HYHU\�\HDU�SURGXFLQJ�FRQWHQW��SURMHFWV��SDSHUV��GLVVHUWDWLRQV��SUHVHQWDWLRQV��HWF���ZLWK�RQO\�WKH�YDOXH�RI�D�WHDFKHU�WR�HYDOXDWH�RQHȇV�ability!
:KLOH�JUHDWHU�DFFHVV�WR�HGXFDWLRQ�LV�GHȴQLWHO\�EHWWHU�IRU�KXPDQLW\��LW�PHDQV�WKDW�PDQ\�PRUH�SHRSOH�KDYH�WKH�VDPH�FUHGHQWLDOV��$V�D�UHVXOW��H[SHULHQFH�LV�EHFRPLQJ�PRUH�YDOXDEOH�WKDQ�D�SDSHU�VD\LQJ�\RX�KDYH�FRQFHSWXDO�NQRZOHGJH��$QG�LQ�WRGD\ȇV�QHWZRUNHG�ZRUOG��LWV�HDVLHU�WKDQ�HYHU�WR�ȊGR�VRPHWKLQJȋ�E\�YROXQWHHULQJ�RU�FRQWULEXWLQJ�WR�SURMHFWV�IURP�DQ\ZKHUH�LQ�WKH�ZRUOG�
7KDWȇV�ZKHUH�KDYLQJ�ȊD�JXLGHȋ�PDNHV�PXFK�PRUH�VHQVH�WR�PH��Ζ�GRQȇW�ZDQW�VRPHRQH�WR�WHOO�PH�KRZ�WR�GR�VRPHWKLQJ��Ζ�ZDQW�WR�XVH�WKH�DFWXDO�EOXHSULQW�WKDW�VRPHRQH�HOVH�XVHG�DQG�WKHQ�DGDSW�LW�DV�Ζ�JR��1RW�HYHU\RQH�FDQ�WHDFK��EXW�DQ\RQH�FDQ�FUHDWH�D�JXLGH�EDVHG�RQ�DFWXDO�H[SHULHQFH�DFFRPSOLVKLQJ�VRPHWKLQJ�
WhaT Do you feel is The gReaTesT Challenge ThaT enTRePReneuRs faCe in CanaDa?
Ζ�WKLQN�WKH�JUHDWHVW�FKDOOHQJH�IRU�&DQDGLDQ�HQWUHSUHQHXUV�LV�WKH�ODFN�RI�SRVLWLYH�SXEOLF�RSLQLRQ�DERXW�WKH�LPSRUWDQFH�RI�HQWUHSUHQHXUV��ΖQ�P\�RSLQLRQ�HQWUHSUHQHXUV�UDQN�EHORZ�H[HFXWLYHV�RI�ODUJH�FRUSRUDWLRQV��GRFWRUV��DUFKLWHFWV��DWKOHWHV��ODZ\HUV�DQG�PDQ\�RWKHU�SURIHVVLRQV��$V�D�PHQWRU�WR�PDQ\�\RXQJ�HQWUHSUHQHXUV�Ζ�KHDU�WKDW�\RXQJ�SHRSOH�DUH�GLVVXDGHG�IURP�EHLQJ�HQWUHSUHQHXUV�E\�WKHLU�SDUHQWV�Ȃ�LWV�RIWHQ�QRW�VHHQ�DV�D�ȊUHDO�SURIHVVLRQȋ��7KLV�LV�D�PDMRU�SV\FKRORJLFDO�KXUGOH�DV�LW�SUHYHQWV�SHRSOH�IURP�EX\LQJ�IURP�VWDUWXSV��IURP�LQYHVWLQJ�LQ�WKHP��IURP�ZRUNLQJ�IRU�WKHP��RU�HQFRXUDJLQJ�SHRSOH�WR�VWDUW�RU�FRQWLQXH�EXLOGLQJ�EXVLQHVVHV�
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?
7KH�JRYHUQPHQW�VKRXOG�EH�KHOSLQJ�HQWUHSUHQHXUV�E\�SURPRWLQJ�WKHP��UHFRJQL]LQJ�WKHP��DQG�UDLVLQJ�SXEOLF�DZDUHQHVV�DERXW�WKHLU�LPSRUWDQFH�LQ�RXU�VRFLHW\��(QWUHSUHQHXUV�DUH�EXV\�SHRSOH�DQG�FDQȇW�DRUG�WKH�WLPH�RU�PRQH\�WR�OREE\�WKH�JRYHUQPHQW�RU�FUHDWH�SXEOLF�DZDUHQHVV��:H�DOO�GHSHQG�RQ�HQWUHSUHQHXUV�IRU�RXU�HFRQRP\�WR�JURZ�DQG�WKH�JRYHUQPHQW�ZRXOG�KHOS�HQWUHSUHQHXUV�WUHPHQGRXVO\�E\�HGXFDWLQJ�HYHU\RQH�RQ�WKH�PHULWV�RI�HQWUHSUHQHXUVKLS�
WhaT is The biggesT lesson ThaT you have leaRneD fRoM builDing youR businesses?
)URP�D�EXVLQHVV�VWDQGSRLQW��ΖWȇV�KDUG�WR�FUHDWH�D�QHZ�ȊSURGXFW�FDWHJRU\ȋ���2XU�JXLGHV�DUH�PRUH�WKDQ�ERRNV��GLHUHQW�WKDQ�RQOLQH�FRXUVHV��DQG�PRUH�ȊGR�LW�\RXUVHOIȋ�WKDQ�KLULQJ�D�FRQVXOWDQW���:KHQ�\RXȇUH�WU\LQJ�WR�FUHDWH�DQG�PDUNHW�VRPHWKLQJ�WKDW�KDV�QHYHU�H[LVWHG��EXW�LV�ȊNLQG�RI�VLPLODUȋ���LWȇV�YHU\�GLɝFXOW�WR�JDLQ�WUDFWLRQ�
)URP�D�SHUVRQDO�VWDQGSRLQW��.HHS�DQ�H\H�RQ�WKH�ELJ�SLFWXUH��ΖWȇV�UHDOO\ HDV\�WR�JHW�RYHU�VWUHVVHG�IURP�LPPHGLDWH�SUHVVXUH��7KLV�LV�P\�IRXUWK�VWDUWXS��VR�DOWKRXJK�Ζ�VWLOO�JHW�VWUHVVHG�RXW��ZKLFK�FDQ�EH�D�JUHDW�PRWLYDWRU�DW�WLPHV����Ζ�WU\�WR�IRFXV�RQ�GHFLVLRQV�WKDW�ZLOO�KDYH�DQ�LPSDFW��VL[�PRQWKV�WR�WZR�\HDUV�IURP�QRZ�LQVWHDG�RI�UHDFWLQJ�WR�WKH�LPPHGLDWH�FULVLV�
![Page 33: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/33.jpg)
33
WhaT aDviCe Do you have foR enTRePReneuRs Who aRe sTaRTing uP ToDay?
*R�IRU�LW��8VH�DOO�\RXU�FUHDWLYLW\��SDVVLRQ��DQG�YLVLRQ�WR�FUHDWH�VRPHWKLQJ�DPD]LQJ�Ȃ�GRQȇW�WU\�WR�FRS\�VRPHRQH�HOVH��6XFFHVV�DQG�IDLOXUH�DUH�UHODWLYH�WHUPV��3XWWLQJ�\RXU�KHDUW�DQG�VRXO�LQWR�VRPHWKLQJ�\RX�UHDOO\�EHOLHYH�LQ�ZLOO�HQULFK�\RXU�OLIH�\RXU��DQG�ZLOO�PDNH�\RXU�FRPPXQLW\��FRXQWU\��DQG�ZRUOG�D�EHWWHU�SODFH��$QG�LI�LW�KHOSV�DQ\��NQRZ�WKDW�ΖȇP�DW�OHDVW�RQH�PRUH�SHUVRQ��EHVLGHV�\RXU�PRP��ZKR�EHOLHYHV�\RX�FDQ�GR�LW�
sPoTlighT: MiKe lee, PaRTneR aT funDiCaBy Shannon Fox | Startup Insights ManagerThursday, February 21, 2013
Mike leePartner, fundica @fundica
$IWHU�VSHQGLQJ����\HDUV�LQ�WKH�ȴQDQFLDO�LQGXVWU\��0LNH�/HH�UHFRJQL]HG�WKH�QHHG�IRU�DFFHVVLEOH�IXQGLQJ��LQIRUPDWLRQ�DQG�RSSRUWXQLWLHV��7R�VROYH�WKLV�SUREOHP��0LNH�FUHDWHG�)XQGLFD��D�ZHE�VHUYLFH�WR�KHOS�HQWUHSUHQHXUV�FKRRVH�WKH�ULJKW�RSSRUWXQLWLHV�IRU�WKHLU�EXVLQHVV��0LNH�DQG�)XQGLFD�QRZ�KHOS�WR�FORVH�WKH�ȴQDQFLDO�LOOLWHUDF\�JDS�LQ�&DQDGD�E\�GLUHFWO\�FRQQHFWLQJ�HQWUHSUHQHXUV��IXQGHUV��DGYLVRUV��JRYHUQPHQWV��DQG�RWKHU�RUJDQL]DWLRQV�SURPRWLQJ�HQWUHSUHQHXUVKLS�LQ�&DQDGD�
Why Was funDiCa CReaTeD?
)XQGLFD�ZDV�VWDUWHG�EHFDXVH��KDG�ZRUNHG�LQ�WKH�IXQGLQJ�ZRUOG�IRU�RYHU����\HDUV�DQG�LW�ZDV�FOHDU�WKDW�LGHQWLI\LQJ�IXQGLQJ�ZDV�DOZD\V�D�
ELJ�DQG�SHUVLVWHQW�SUREOHP��Ζ�ZRUNHG�ZLWK�H[SHUWV��SXUFKDVHG�&'V�ERRNV��DQG�FRQVXOWHG�QXPHURXV�OLVWV��EXW�QRWKLQJ�ZDV�YHU\�XVHIXO�ORQJ�WHUP�LQ�WKLV�UHVSHFW��ΖW�EHFDPH�DSSDUHQW�WKDW�WKLV�ELJ�SUREOHP�FRXOG�EH�VROYHG�WKURXJK�WKH�XVH�RI�ZHE�WHFKQRORJLHV�
WhaT Do you feel is The gReaTesT Challenge ThaT enTRePReneuRs faCe in CanaDa?
$OWKRXJK�Ζ�PRVWO\�KHDU�DERXW�WKH�IXQGLQJ�FKDOOHQJH��Ζ�ZRXOG�VD\�WKH�QH[W�JUHDWHVW�FKDOOHQJH�HQWUHSUHQHXUV�IDFH�LV�WKH�QHHG�WR�ȴQG�WKH�ULJKW�WHDP�DQG�FOLHQWV��ΖW�LV�WKH�IDFW�WKDW�\RX�EDVLFDOO\�QHHG�DOO�WKUHH�HOHPHQWV�WR�FRPH�WRJHWKHU�WKDW�PDNHV�LW�PRVW�FKDOOHQJLQJ�IRU�HQWUHSUHQHXUV�
Do you feel TheRe is Too MuCh eMPhasis PlaCeD on goveRnMenT in solving The PRobleMs of enTRePReneuRs? Whose Role is iT: MeDia, eDuCaTion, goveRnMenT oR sTaRTuPs TheMselves?
ΖQ�P\�RSLQLRQ��JRYHUQPHQWV�VKRXOG�ZKHUH�SRVVLEOH�UHPRYH�LPSHGLPHQWV�LQ�WKH�IRUP�RI�UHG�WDSH�IRU�HQWUHSUHQHXUV��HVWDEOLVK�SURSHU�HGXFDWLRQ�DQG�RWKHU�LQVWLWXWLRQDO�V\VWHPV��SURYLGH�IRFXVHG�SULYDWH�VHFWRU�IXQGLQJ�VXSSRUW�ZKHQ�LW�LV�DGYDQWDJHRXV�IRU�VRFLHW\�DV�D�ZKROH��DQG�WKHQ�JHW�RXW�RI�WKH�ZD\��(QWUHSUHQHXUV�VKRXOG�EH�UHVSRQVLEOH�IRU�WKH�UHVW�
WhaT is The biggesT lesson ThaT you have leaRneD fRoM builDing funDiCa?
*HW�D�JUHDW��VPDUW��IXQ�WHDP�WRJHWKHU��<RX�ZLOO�VSHQG�D�ORW�RI�WLPH�ZLWK�WKHP�
![Page 34: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/34.jpg)
34
WhaT aDviCe Do you have foR enTRePReneuRs Who aRe sTaRTing uP ToDay?
*HW�UHDG\�WR�ZRUN�KDUG�DQG�ORQJ��<RX�KDYH�WR�IHHO�WKDW�\RX�DUH�WU\LQJ�WR�FKDQJH�WKH�ZRUOG�DQG�QRW�EH�WKHUH�IRU�RWKHU�UHDVRQV�
sPoTlighT: MaTheW geoRghiou, MeDiasPaRKBy Shannon Fox | Startup Insights ManagerThursday, February 21, 2013
Mathew georghiou founder, Mediaspark, goventure, and goventure World @Mathewgeorghiou
0DWKHZ�*HRUJKLRX�LV�WKH�IRXQGHU��&(2�DQG�&KLHI�([SHULHQFH�'HVLJQHU�RI�0HGLD6SDUN��D�VRIWZDUH�GHYHORSPHQW�DQG�SXEOLVKLQJ�FRPSDQ\��:LWK�D�SDVVLRQ�IRU�HGXFDWLRQDO�JDPHV�DQG�VLPXODWLRQV��0DWKHZ�DOVR�FUHDWHG�*R9HQWXUH��2YHU�WKH�SDVW�GHFDGH��*R9HQWXUH�KDV�VROG�WKRXVDQGV�RI�JDPHV�DQG�VLPXODWLRQV�WR�VFKRROV�DQG�RUJDQL]DWLRQV�DURXQG�WKH�ZRUOG��UHDFKLQJ�DQ�DXGLHQFH�RI�HVWLPDWHG���PLOOLRQ��LQGLYLGXDOV��'HVSLWH�WKHLU�RYHUZKHOPLQJ�VXFFHVV��0DWKHZ�DQG�*R9HQWXUH�ZDQW�WR�GR�PRUH��VRPHWKLQJ�ELJJHU��$V�D�OHDGLQJ�LQQRYDWRU�LQ�HQWUHSUHQHXUVKLS��0DWKHZ�KDV�VHW�RXW�WR�FUHDWH�*R9HQWXUH�:RUOG��DQ�DXWKHQWLF�EXVLQHVV�H[SHULHQFH�ZLWK�WKH�SRWHQWLDO�WR�EH�WKH�VLQJOH�ELJJHVW�LQQRYDWLRQ�LQ�WKH�KLVWRU\�RI�HQWUHSUHQHXUVKLS�HGXFDWLRQ�DQG�EXVLQHVV�VLPXODWLRQ�
WhaT MoTivaTeD you To sTaRT youR fiRsT business, MeDia sPaRK?
Ζ�VWDUWHG�0HGLD6SDUN�EDFN�LQ������DQG�DW�WKH�WLPH�Ζ�ZDV�ZRUNLQJ�DV�DQ�HQJLQHHU�DW�Ζ%0�&HOHVWLFD�LQ�7RURQWR��Ζ�ZDQWHG�PRUH�FRQWURO�RYHU�P\�RZQ�GHVWLQ\�DQG�WKH�FKDQFH�IRU�ȴQDQFLDO�IUHHGRP�VRRQHU�LQ�OLIH�
WhaT Do you feel is The gReaTesT Challenge ThaT enTRePReneuRs faCe in CanaDa?
7KH�JUHDWHVW�FKDOOHQJH�LV�EXLOGLQJ�LQGXVWU\�UHODWLRQVKLSV��EHFDXVH�PRVW�KLJK�JURZWK�&DQDGLDQ�FRPSDQLHV�DUH�IRFXVHG�RQ�H[SRUWV�WR�ODUJHU�PDUNHWV��ΖQFOXGHG�ZLWK�EXLOGLQJ�UHODWLRQVKLSV�LV�DFFHVV�WR�YHQWXUH�ȴQDQFLQJ�
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?
1R��Ζ�GRQȇW�EHFDXVH�&DQDGD�LV�D�VPDOO�FRXQWU\�DQG�RXU�SULYDWH�VHFWRU�LV�QRW�DV�ZHDOWK\�RU�DV�ULVN�IRFXVHG�DV�QHHGHG�WR�QXUWXUH�HQWUHSUHQHXUVKLS�RQ�LWV�RZQ��*RYHUQPHQW�KDV�D�UROH�WR�SOD\�LQ�IDFLOLWDWLQJ�WKH�SURFHVV��WKURXJK�LQYHVWPHQW�WD[�LQFHQWLYHV��DQG�5'�L QFHQWLYHV��DQG�JHQHUDO�SROLF\��7KH�PHGLD�KDV�D�UROH�WR�SOD\�LQ�WHOOLQJ�WKH�VWRULHV�WR�WKH�SXEOLF�VR�ZH�FDQ�FUHDWH�DQ�HQWUHSUHQHXULDO�FXOWXUH� (GXFDWLRQ�KDV�D�UROH�WR�SOD\�LQ�SURSHUO\�SUHSDULQJ�&DQDGLDQV�WR�VXFFHHG�LQ�D�JOREDO�HFRQRP\�
![Page 35: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/35.jpg)
��
WhaT is The biggesT lesson ThaT you have leaRneD fRoM builDing MeDia sPaRK, govenTuRe anD govenTuRe WoRlD?
7KH�LPSRUWDQFH�RI�EXVLQHVV�UHODWLRQVKLSV�DQG�DFFHVV�WR�ȴQDQFLQJ�
WhaT aDviCe Do you have foR enTRePReneuRs Who aRe sTaRTing uP ToDay?
&RQVLGHU�PRYLQJ�VRPHZKHUH�ZKHUH�\RX�ZLOO�KDYH�VWURQJ�DFFHVV�WR� EXVLQHVV�UHODWLRQVKLSV�DQG�DFFHVV�WR�ȴQDQFLQJ��'RQȇW�IDOO�LQWR�WKH� HPEHOOLVKHG�VWRU\�RI�WKLQNLQJ�\RX�FDQ�GR�LW�IURP�DQ\ZKHUH��:KLOH�\RX� FDQ�GR�VRPH�WKLQJV�IURP�DQ\ZKHUH��EXLOGLQJ�NH\�LQGXVWU\�UHODWLRQVKLSV�DQG�ZLQQLQJ�NH\�FXVWRPHUV�LV�VWLOO�GLɝFXOW�WR�GR�DW�D�GLVWDQFH��DQG�GLɝFXOW�WR�GR�ZLWK�FRQVWDQW�DLU�WUDYHO�
sPoTlighT: alex glassey, CReaToR of sTRaTPaDBy Shannon Fox | Startup Insights ManagerThursday, February 21, 2013
alex glassey Creator of stratPad @alexglassey / @stratpad
7KURXJK�KLV�RZQ�H[SHULHQFH�DV�D�VHULDO�HQWUHSUHQHXU�DQG�EXVLQHVV�FRQVXOWDQW��$OH[�LGHQWLȴHG�WKH�QHHG�IRU�D�VLPSOLȴHG��SUDFWLFDO�DSSURDFK�WR�VWUDWHJ\�WKDW�ZRXOG�PDNH�VHQVH�IRU�HQWUHSUHQHXUV��$IWHU�LGHQWLI\LQJ�WKLV�JDS��WKH�LGHD�IRU�6WUDW3DG�ZDV�ERUQ��:LWK�6WUDW3DG��$OH[�KRSHV�WR�KHOS�DVSLULQJ�HQWUHSUHQHXUV�VXFFHHG��:LWK�RYHU��������GRZQORDGV�IURP�WKH�$SS�6WRUH��$OH[�KDV�IXOȴOOHG�WKLV�REMHFWLYH��PDNLQJ�D�SURIRXQG�GLHUHQFH�WR�HQWUHSUHQHXUV��FOLHQWV�DQG�VWXGHQWV�DURXQG�WKH�ZRUOG�
WhaT MoTivaTeD you To sTaRT sTRaTPaD?
Ζ�ZDQWHG�WR�KHOS�HQWUHSUHQHXUV�VXFFHHG��6WUDWHJ\�LV�DQ�H[WUDRUGLQDULO\�SRZHUIXO�EXVLQHVV�WRRO�EXW��KLVWRULFDOO\��LWȇV�EHHQ�WKH�SXUYLHZ�RI�ELJ� EXVLQHVV��ΖW�KDVQȇW�EHHQ�SDUWLFXODUO\�SUDFWLFDO�RU�DFFHVVLEOH�IRU�VWDUWXSV� RU�VPDOO�EXVLQHVV��Ζ�VHW�RXW�WR�FUHDWH�D�VLPSOLȴHG��SUDFWLFDO�DSSURDFK�WR�VWUDWHJ\�WKDW�ZRXOG�PDNH�VHQVH�IRU�HQWUHSUHQHXUV��Ζ�EDVHG�LW�RQ�P\�RZQ�VWDUWXS�H[SHULHQFH�DQG�RQ�P\�ZRUN�WHDFKLQJ�DQG�FRQVXOWLQJ�WR�VPDOO�EXVLQHVV��Ζ�WKRXJKW�WKDW�DQ�DSS�FRXOG�KHOS�HYHQ�PRUH�HQWUHSUHQHXUV�WKDQ�Ζ�FRXOG�UHDFK�E\�P\VHOI��7KH�DSSURDFK�PDGH�D�SURIRXQG�GLHUHQFH�WR�P\�FOLHQWV�DQG�VWXGHQWV�
WhaT Do you feel is The gReaTesT Challenge ThaT enTRePReneuRs faCe in CanaDa?
&DQDGLDQ�HQWUHSUHQHXUV��OLNH�HQWUHSUHQHXUV�DOO�RYHU�WKH�ZRUOG��QHHG�WR�OHDUQ�KRZ�WR�WHOO�WKHLU�VWRU\�HHFWLYHO\�LQ�RUGHU�WR�JHW�WKH�UHVRXUFHV�WKH\�QHHG��7UDGLWLRQDO�EXVLQHVV�HGXFDWLRQ�DQG�SODQQLQJ��DW�WKHLU�EHVW��GRQȇW�IXOO\�UHVSRQG�WR�WKH�XQLTXH�QHHGV�RI�VPDOOHU�ȴUPV��$W�WKHLU�ZRUVW��WKH\ȇUH�PRUH�RI�D�EDUULHU�WR�UHVRXUFHV�WKDQ�DQ�HQDEOHU�
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?
ΖW�WDNHV�HYHU\ERG\�ZRUNLQJ�LQ�FRQFHUW�WR�FUHDWH�DQ�HQYLURQPHQW�WKDW�IXOO\�VXSSRUWV�HQWUHSUHQHXUV��(QWUHSUHQHXUV�EULQJ�WKHLU�LGHDV��WKHLU�SDVVLRQ�DQG�WKHLU�HQHUJ\��$V�WKH�SHRSOH�FORVHVW�WR�WKH�QHZ�YHQWXUH�DQG�WKH�RQHV�WKDW�ZLOO�EHQHȴW�PRVW�IURP�LWV�VXFFHVV��WKH\�VKRXOG�EH�SULPDULO\�UHVSRQVLEOH�WR�VROYH�WKHLU�SUREOHPV��7KDW�EHLQJ�VDLG��ZH�DUH�
![Page 36: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/36.jpg)
36
DOO�HQULFKHG�E\�WKHLU�VXFFHVV�DQG�PDGH�SRRUHU�E\�WKHLU�IDLOXUH��:H�DOO��WKHUHIRUH��KDYH�D�UROH�WR�SOD\�DQG�ZH�QHHG�WR�SOD\�LW�ZHOO�
WhaT is The biggesT lesson ThaT you have leaRneD fRoM builDing sTRaTPaD?
Ζ�KDYH��UH�OHDUQHG�WKDW�HQWUHSUHQHXUV�HYHU\ZKHUH�VKDUH�DQ�LQFUHGLEOH�WKLUVW�WR�EH�VXFFHVVIXO��WKH\ȇOO�GR�ZKDWHYHU�LW�WDNHV�WR�VXFFHHG��:H�MXVW�QHHG�WR�JLYH�WKHP�HDV\�DFFHVV�WR�WKH�EDVLFV�DQG�WKHQ�JHW�RXW�RI�WKHLU�ZD\�
WhaT aDviCe Do you have foR enTRePReneuRs Who aRe sTaRTing uP ToDay?
Ζ�KDYH�WZR�SLHFHV�RI�DGYLFH�IRU�QHZ�HQWUHSUHQHXUV�
��� 7KLQN�VWUDWHJLFDOO\�IURP�WKH�GD\�RQH��DQG
��� %HIRUH�VSHQGLQJ�PRQH\��WDON�WR�DV�PDQ\�SRWHQWLDO�FXVWRPHUV�DV�SRVVLEOH�DERXW�\RXU�SRWHQWLDO�RHULQJ�
![Page 37: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/37.jpg)
��
aPPenDix b – CoMPRehensive lisT of ResouRCes
goveRnMenT & non-PRofiT ResouRCes
inDusTRy CanaDa – JusT foR businesses http://www.ic.gc.ca/
ΖQGXVWU\�&DQDGD�ZRUNV�ZLWK�&DQDGLDQV�LQ�DOO�DUHDV�RI�WKH�HFRQRP\�DQG LQ�DOO�SDUWV�RI�WKH�FRXQWU\�WR�LPSURYH�FRQGLWLRQV�IRU�LQYHVWPHQW��HQKDQFH�&DQDGDȇV�LQQRYDWLRQ�SHUIRUPDQFH��LQFUHDVH�&DQDGDȇV�VKDUH�RI�JOREDO�WUDGH��DQG�EXLOG�D�IDLU��HɝFLHQW�DQG�FRPSHWLWLYH�PDUNHWSODFH�
7KH�Ȋ-XVW�IRU�EXVLQHVVHVȋ�VHFWLRQ�RQ�ΖQGXVWU\�&DQDGDȇV�ZHEVLWH�FRQWDLQV�DQ�H[WHQVLYH�DUUD\�RI�UHVRXUFHV�IRU�VPDOO�EXVLQHVV�RZQHUV��LQFOXGLQJ�VWDWLVWLFV��ȴQDQFLQJ��LQWHOOHFWXDO�SURSHUW\�DQG�GRLQJ�EXVLQHVV�DFURVV�ERUGHUV��HWF��7KH�UHVRXUFHV�SDJH�FDQ�VHUYH�DV�D�OLQN�DJJUHJDWRU�DQG�WKH�OLQNV�DUH�QHDWO\�FDWHJRUL]HG�DW�WKH�IHGHUDO�DQG�SURYLQFLDO�OHYHO�ZKHUHYHU�DSSOLFDEOH�
finanCial ConsuMeR agenCy of CanaDa http://www.fcac-acfc.gc.ca/
7KH�)LQDQFLDO�&RQVXPHU�$JHQF\�RI�&DQDGD��)&$&��LV�DQ�LQGHSHQGHQW�IHGHUDO�UHJXODWRU\�DJHQF\�ZRUNLQJ�WR�SURWHFW�DQG�LQIRUP�FRQVXPHUV�RI�ȴQDQFLDO�SURGXFWV�DQG�VHUYLFHV�
7KLV�ZHEVLWH�LV�D�JUHDW�UHVRXUFH�DYDLODEOH�WR�&DQDGLDQ�FRQVXPHUV��VRPH�RI�ZKLFK�DUH�HTXDOO\�DSSOLFDEOH�WR�VPDOO�EXVLQHVV�RZQHUV�DQG�HQWUHSUHQHXUV��)&$&�ODXQFKHG�D�IUHH�ȴQDQFLDO�WRRONLW�LQ�6HSWHPEHU������ZKLFK�LQFOXGHV�YLGHRV��WRROV��FDVH�VWXGLHV��DQG����PRGXOHV�WKDW�FDQ�EH�GRQH�LQ�ZRUNVKRS�VHWWLQJV�RQ�LVVXHV�UDQJLQJ�IURP�FUHGLW�DQG�GHEW�PDQDJHPHQW�WR�LQFRPH�WD[�DQG�ȴQDQFLDO�SODQQLQJ�
TasK foRCe on finanCial liTeRaCyKWWS���ZZZ�ȴQDQFLDOOLWHUDF\LQFDQDGD�FRP�
ΖQ�WKH������EXGJHW��WKH�IHGHUDO�0LQLVWHU�RI�)LQDQFH�DQQRXQFHG�KLV�LQWHQWLRQ�WR�HVWDEOLVK�D�QDWLRQDO�WDVN�IRUFH�GHGLFDWHG�WR�WKH�LVVXH�RI� ȴQDQFLDO�OLWHUDF\��7KH�7DVN�)RUFHȇV�UROH�ZDV�WR�FRQVXOW�&DQDGLDQV��XQGHUWDNH�UHVHDUFK��DQG�SURYLGH�DGYLFH�DQG�UHFRPPHQGDWLRQV�WR�WKH�0LQLVWHU�RI�)LQDQFH�RQ�D�QDWLRQDO�VWUDWHJ\�WR�VWUHQJWKHQ�WKH�ȴQDQFLDO�OLWHUDF\�RI�&DQDGLDQV�
7KH�7DVN�)RUFHȇV�UHSRUW�ZDV�PDGH�SXEOLF�LQ�)HEUXDU\������DQG�LW�LV�D�JUHDW�UHVRXUFH�IRU�XQGHUVWDQGLQJ�WKH�ȴQDQFLDO�OLWHUDF\�FKDOOHQJH�IDFLQJ�WKH�&DQDGLDQ�SXEOLF��HVSHFLDOO\�WKH�FRQVXPHUV��$OWKRXJK�LW�GRHV�QRW�DGGUHVV�VPDOO�EXVLQHVVHV�DQG�VWDUWXSV�GLUHFWO\��PDQ\�RI�LWV�UHFRPPHQGDWLRQV�DUH�VWLOO�DSSOLFDEOH�DQG�UHOHYDQW�
CanaDian CenTRe foR finanCial liTeRaCy KWWS���ZZZ�WKHFFȵ�FD�
7KH�&DQDGLDQ�&HQWUH�IRU�)LQDQFLDO�/LWHUDF\��&&)/��LV�GHGLFDWHG�WR�VXSSRUWLQJ�ȴQDQFLDO�OLWHUDF\�FDSDFLW\�DFURVV�&DQDGD��$V�D�GLYLVLRQ�RI� 6RFLDO�DQG�(QWHUSULVH�'HYHORSPHQW�ΖQQRYDWLRQV��6('Ζ���WKH�&&)/�KHOSV� RUJDQL]DWLRQV�VHUYLQJ�ORZ�LQFRPH�&DQDGLDQV�E\�SURYLGLQJ�WUDLQLQJ��SURJUDP�VXSSRUW��HYDOXDWLRQ�WRROV��DQG�DQ�RQOLQH�FRPPXQLW\�IRU�SUDFWLWLRQHUV�
7KLV�ZHEVLWH�LV�D�UHVRXUFH�IRU�ȴQDQFLDO�OLWHUDF\�SUDFWLWLRQHUV�ZKR�VWULYH WR�HPSRZHU�SHRSOH�WR�PDNH�PRUH�LQIRUPHG�GHFLVLRQV�DERXW�WKHLU�PRQH\�DQG�WR�SURYLGH�VXSSRUW�WR�WKRVH�ZKR�QHHG�KHOS��7KH�VLWH�
![Page 38: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/38.jpg)
��
FRQWDLQV�D�YDULHW\�RI�WRROV��UHVRXUFHV�DQG�UHSRUWV�WR�VXSSRUW�WKH�GHOLYHU\�RI�ȴQDQFLDO�OLWHUDF\�WR�&DQDGLDQV�
CanaDa business neTWoRK http://www.canadabusiness.ca/
&DQDGD�%XVLQHVV�1HWZRUN�LV�D�FROODERUDWLYH�DUUDQJHPHQW�DPRQJ� IHGHUDO�GHSDUWPHQWV�DQG�DJHQFLHV��SURYLQFLDO�DQG�WHUULWRULDO�JRYHUQPHQWV�DQG�QRW�IRU�SURȴW�HQWLWLHV��ΖW�SURPRWHV�HQWUHSUHQHXUVKLS�DQG�LQQRYDWLRQ��DQG�SURYLGHV�DVVLVWDQFH�WKURXJK�DQ�RUJDQL]HG�QHWZRUN�RI�VHUYLFH�FHQWUHV�DFURVV�&DQDGD��7KHUH�LV�D�FHQWUH�LQ�HDFK�SURYLQFH�DQG�WHUULWRU\�ZRUNLQJ�ZLWK�SDUWQHUV�LQ�PDQ\�FRPPXQLWLHV�DFURVV�WKHLU�UHJLRQ��SURYLGLQJ�\RX�ZLWK�QXPHURXV�VHUYLFH�DFFHVV�SRLQWV�
7KLV�ZHEVLWH�LV�D�RQH�VWRS�UHVRXUFH�IRU�VWDUWLQJ��PDQDJLQJ�DQG�JURZLQJ EXVLQHVVHV�LQ�&DQDGD�DQG�WKHUH�DUH�QXPHURXV�UHVRXUFHV�IRU� VHOI�HGXFDWLRQ�RQ�ȴQDQFLDO�OLWHUDF\��VRPH�UHVRXUFHV�DUH�RQO\�DYDLODEOH�WKURXJK�SURYLQFLDO�DQG�WHUULWRULDO�PHPEHU�DJHQFLHV��
Cybf business ResouRCe CenTRe http://www.cybf.ca/resources/
7KH�&DQDGLDQ�<RXWK�%XVLQHVV�)RXQGDWLRQ��&<%)��LV�D�QDWLRQDO�QRQ�SURȴW�RUJDQL]DWLRQ�GHGLFDWHG�WR�JURZLQJ�RXU�QDWLRQȇV�HFRQRP\�RQH�\RXQJ�HQWUHSUHQHXU�DW�D�WLPH��&<%)�ORRNV�DW�FKDUDFWHU�QRW�FROODWHUDO��ZKHQ�SURYLGLQJ�\RXWK��DJH��������ZLWK�SUH�ODXQFK�FRDFKLQJ��EXVLQHVV�UHVRXUFHV��VWDUW�XS�ȴQDQFLQJ�DQG�PHQWRULQJ��WR�KHOS�WKHP�ODXQFK�DQG�VXVWDLQ�D�VXFFHVVIXO�HQWUHSUHQHXULDO�EXVLQHVV�
7KLV�VLWH�FRQWDLQV�D�P\ULDG�RI�UHVRXUFHV�IRU�DOO�DJHV�RQ�HYHU\�VWDJH�RI�EXVLQHVV�GHYHORSPHQW�IURP�WKH�EXVLQHVV�SODQ�WR�H[LW�VWUDWHJ\�
banKing & finanCe inDusTRy ResouRCes
geT gRoWing foR business PRogRaM http://getgrowingforbusiness.scotiabank.com/
'HYHORSHG�E\�6FRWLDEDQN��WKLV�VLWH�IHDWXUHV�DGYLFH�ODGHQ�EORJV�DQG� YLGHRV�RQ�D�ZLGH�UDQJH�RI�ȴQDQFLDO�PDQDJHPHQW�LVVXHV��6HYHUDO�YLGHRV�IHDWXUH�PDUNHWLQJ�HQWUHSUHQHXU�DQG�&%&�'UDJRQȇV�'HQ�VWDU� $UOHQH�'LFNLQVRQ��6FRWLDEDQN�DOVR�RHUV�QHZ�VPDOO�EXVLQHVV FXVWRPHUV��LWV�5XQQLQJ�6WDUW�SODQQLQJ�JXLGH��DV�ZHOO�DV�D�FRPSOLPHQWDU\�FRS\�RI�ΖQWXLWȇV�(DV\�6WDUW�DFFRXQWLQJ�V\VWHP�
$SDUW�IURP�WKLV�VSHFLDO�SURJUDP��HDFK�RI�WKH�%LJ�)LYH�%DQNV�KDV�WKHLU�RZQ�FRPSUHKHQVLYH�VPDOO�EXVLQHVV�UHVRXUFH�VLWH�DYDLODEOH�WR�WKH�JHQHUDO�SXEOLF�
sCoTiabanK sMall business Tools anD ResouRCes http://www.scotiabank.com/ca/en/0,,593,00.html
RbC Royal banK – DefiniTive guiDes foR sMall business KWWS���ZZZ�UEFUR\DOEDQN�FRP�EXVLQHVV�GHȴQLWLYHJXLGH�
TD CanaDa TRusT – sMall business ResouRCe CenTRehttp://www.tdcanadatrust.com/products-services/small-business/resources.jsp
bMo sMall business ResouRCeshttp://www.bmo.com/home/small-business/banking/resources/business-resources
CibC sMall business ResouRCe CenTRehttps://www.cibc.com/ca/small-business/resource-needs.html
![Page 39: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/39.jpg)
��
booKs
CanaDian sMall business KiT foR DuMMies http://www.amazon.ca/Canadian-Small-Business-Kit-Dummies/dp/0470936525/ref=sr_1_3?ie=UTF8&qid=1360711917&sr=8-3
&DQDGLDQ�6PDOO�%XVLQHVV�.LW�)RU�'XPPLHV�LV�WKH�EHVWVHOOLQJ�&DQDGLDQ�JXLGH�WR�VWDUWLQJ�DQG�UXQQLQJ�D�VXFFHVVIXO�VPDOO�EXVLQHVV��7KLV�JXLGH FRYHUV�HYHU\�DVSHFW�RI�VWDUWLQJ��EXLOGLQJ��VWDɝQJ��DQG�UXQQLQJ�D�VPDOO EXVLQHVV��RHULQJ�LQIRUPDWLRQ�IRU�HQWUHSUHQHXUV�VWDUWLQJ�IURP�VFUDWFK� SHRSOH�EX\LQJ�D�EXVLQHVV��RU�QHZ�IUDQFKLVH�RZQHUV��:LWK�XSGDWHG�LQIRUPDWLRQ�DERXW�WKH�+67�DQG�LWV�LPSDFW�RQ�VPDOO�EXVLQHVVHV��LQVLJKW�LQWR�KRZ�VPDOO�EXVLQHVV�FDQ�WDNH�DGYDQWDJH�RI�VRFLDO�PHGLD�VXFK�DV� )DFHERRN��/LQNHGΖQ��DQG�7ZLWWHU��DQG�QHZ�UHVRXUFHV��LQFOXGLQJ�LQIRUPDWLRQ�DERXW�QHZ�VRXUFHV�RI�JRYHUQPHQW�IXQGLQJ�IRU�VPDOO�EXVLQHVVHV��WKLV�ERRN�LV�DQ�HVVHQWLDO�JXLGH�WR�VPDOO�EXVLQHVV�VXFFHVV�
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
7KH�&RPSOHWH�&DQDGLDQ�6PDOO�%XVLQHVV�*XLGH�KDV�EHHQ�WKH�JR�WR�ERRN�IRU�WKRXVDQGV�RI�&DQDGLDQ�HQWUHSUHQHXUV�HYHU�VLQFH�LW�ZDV�ȴUVW�SXEOLVKHG�LQ�������1RZ�LQ�LWV�IRXUWK�HGLWLRQ��WKLV�JXLGH�XSGDWHV�\RX�RQ�HYHU\WKLQJ�\RX�QHHG�WR�NQRZ�WR�XQGHUVWDQG��PDQDJH��DQG�WDNH�DGYDQWDJH�RI�WKH�ODWHVW�FKDQJHV�LQ�WHFKQRORJ\��ODZ��UHVRXUFHV��DQG�EHVW�SUDFWLFHV�RI�WRGD\ȇV�VPDOO�EXVLQHVVHV�
5HQRZQHG�H[SHUWV�LQ�WKHLU�ȴHOG��'RXJODV�*UD\�DQG�'LDQD�*UD\�SURYLGH D�FRPSOHWH�UHIHUHQFH�IRU�HYHU\�TXHVWLRQ�\RX�KDYH�DQG�RHU�VWUHHW�VPDUW�WLSV�WKDW�ZLOO�JLYH�\RXU�VPDOO�EXVLQHVV�D�FRPSHWLWLYH�DGYDQWDJH��
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
1R�PDWWHU�ZKDW�NLQG�RI�VPDOO�EXVLQHVV�\RX�KDYH��\RX�RZH�LW�WR�\RXUVHOI�WR�WDNH�DGYDQWDJH�RI�HYHU\�OHJLWLPDWH�EXVLQHVV�GHGXFWLRQ�DQG�SHUVRQDO�WD[�SODQQLQJ�DGYDQWDJH�DW�WD[�WLPH��ΖQ�WKH�QHZO\�XSGDWHG�IRXUWK�HGLWLRQ�RI�0DNH�6XUH�ΖWȇV�'HGXFWLEOH��(YHO\Q�-DFNV��&DQDGDȇV�EHVWVHOOLQJ�DQG�PRVW�WUXVWHG�WD[�DXWKRU�DQG�HGXFDWRU��GHOLYHUV�YLWDO�WD[�IDFWV�WKDW�ZLOO�VDYH�\RX�PRQH\ȃSUHVHQWHG�LQ�D�FOHDU��IULHQGO\�VW\OH�WKDWȇV�HDV\�WR�UHDG��XQGHUVWDQG�DQG�DSSO\�WR�\RXU�RZQ�EXVLQHVV��-RLQ�WKH�PRUH�WKDQ��������HQWUHSUHQHXUV�ZKRȇYH�WXUQHG�WR�WKLV�WD[�VDYLQJ�FODVVLF�WR�OHDUQ�DERXW�
• :KDW�H[SHQGLWXUHV�DUH�IXOO\�GHGXFWLEOH�DQG�ZKLFK�DUH�UHVWULFWHG
• +RZ�WR�FODLP�H[SHQVHV�XQGHU�QHZ�DXWR�DQG�KRPH�RɝFH�UXOHV
• +LULQJ�IDPLO\�PHPEHUV�DQG�VSOLWWLQJ�LQFRPH�WR�NHHS�PRUH�RI�\RXU�PRQH\
• %XLOGLQJ�VLJQLȴFDQW�ZHDOWK�ZLWK�WKH�FDSLWDO�JDLQV�GHGXFWLRQ�DQG�VDYY\�LQFRPH�UH�LQYHVWPHQW�VWUDWHJLHV
• 3ODQQLQJ�IRU�D�VHFXUH�OLIHVW\OH�QRZ�DQG�LQ�UHWLUHPHQW
![Page 40: Bridging the Financial Literacy Gap](https://reader030.fdocuments.net/reader030/viewer/2022020419/568bda2b1a28ab2034a9c363/html5/thumbnails/40.jpg)
ENTREPENEURSHIP EMPOWERS EVERYONE TM/MD
ZZZ�VWDUWXSFDQ�FD�_�#6WDUWXSB&DQDGD�_�KHOOR#VWDUWXSFDQ�FD