Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Entrepreneurs, Start-ups, Small Businesses
CFPB Issues a Request For Information on “Data brokers”
CFPB | Mar 15, 2023
Image: Pixabay/TheHilaryClark
The Consumer Financial Protection Bureau (CFPB) issued a request for information on “data brokers,” “an umbrella term to describe firms that collect, aggregate, sell, resell, license, or otherwise share consumers’ personal information with other parties.
See: Davos: Cooperation in a Fragmented World: In Data We Trust
The CFPB is looking to better understand the “scope and breadth of data brokers’ business practices and the impact of those practices on the marketplace and peoples’ daily lives,” especially in relation to credit reporting and the requirements and intentions of the Fair Credit Reporting Act.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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How to Research the Market for a Franchise Opportunity
March 18, 2023
Image: Unsplash/Christina @ wocintechchat.com
Starting a business from scratch can be an extremely daunting and burdensome process, especially for aspiring entrepreneurs. Fortunately, there is another option – franchising. Franchising provides many advantages such as buying into an established system with proven success metrics and reduced risk of failure due to training, support systems, and brand recognition. Before taking the leap into becoming part of a franchise, however, it’s important to thoroughly research the market to ensure you get the best value out of your chosen opportunity. Here we will explore some key steps in researching the market for a franchise opportunity so that you can make informed decisions about what kind of venture you want to undertake.
Identify the Local Market for Your Potential Franchise
Identification of the local market for a potential franchise is an essential step in the research process. Aspiring entrepreneurs should take time to consider the characteristics of their area, including economic and demographic trends, the competitiveness of the industry they are considering entering, and consumer behavior. Knowledgeable entrepreneurs should come to fully understand the needs of their prospective customers and how those needs compare to existing offerings within the market. It is important to become comfortable with navigating different methods of conducting market research such as surveys, focus groups, and data analysis. Researching through these various ways will ultimately lead to clear insights into areas that might need improvement or redefined ideas that could set your business apart from competitors. With due diligence, you can ensure your franchise opportunity provides value and meets customer needs while still being profitable in the long run.
Research the Reputation and Resources of Your Potential Franchise
Once you have identified a potential franchise opportunity, it’s time to research the reputation and resources of the franchisor. It is important to become familiar with their history, performance metrics, and record of customer satisfaction. Furthermore, it is essential to assess their level of commitment to their franchisees. Look into the resources they offer such as training, marketing assistance, and operational support. If possible, try to speak with other franchisees from the same system in order to gather first-hand knowledge about their experience with the franchisor. With this information, you can make an informed decision about whether or not you believe that this particular franchisor is capable of helping you achieve your goals for success.
Ask The Right Questions
The main goal of your research should be to ask the right questions. Before you commit, make sure that you understand the system completely and weigh up all the pros and cons. Whether you are speaking with the franchisor directly or researching online, asking the right questions when starting a franchise can help to make the process smoother and more successful. Some questions you should consider include:
- What type of support system does the franchisor offer?
- How stable and profitable is this franchise system?
- Are there any restrictions with regard to how I can run my business within this franchise system?
- What are the different fees associated with this franchise opportunity?
- Does the franchisor have an existing customer base or ongoing marketing campaigns in place that will help me grow my business?
These are just some of the many questions you should consider when researching a franchise system. Ultimately, the goal is to make sure that the franchise fits your needs and goals as an entrepreneur while still providing value to customers and the potential for long-term profitability. With the right research and questions, you can be confident in your decision to pursue a franchise opportunity.
Conduct a Cost Benefit Analysis
Before signing any contracts, it is essential to conduct a cost-benefit analysis. This will allow you to determine the overall value of your franchise opportunity and make sure that it meets your financial requirements. Be sure to consider all of the costs associated with franchising such as initial investment, ongoing fees, royalties, and marketing expenses. Also factor in other costs such as legal fees and insurance premiums. Once you have all of this information, compare it to potential profits so that you can determine the ROI for your venture. This will help ensure that your business decision is well-informed and has financial feasibility before jumping into an agreement with a franchisor.
Gather Data on the Competition
Once you’ve identified a relevant franchise opportunity, researching its competition is the next step. To determine the true landscape of your marketplace, gather as much data on the competitors as you can from multiple sources. Look into local newspapers and magazines for news and reviews, visit their websites to gauge customer feedback, and talk to individuals who have purchased from those businesses in order to gain a full understanding of how you stand up against them. With this insightful information in hand, you’ll be better equipped to make an informed decision about whether or not this particular franchise opportunity is right for you.
Investigate the Franchisor's Performance History
Taking the time to reverse engineer how the franchisor has delivered historical results (sales trajectories, investment returns, etc.) is an essential part of any franchise opportunity decision-making process. It's often necessary to draw on varied sources such as interviews with past or present franchisees, industry news reports, and business filings/registrations from government/state agencies — all eventually leading up to potential contact made with the franchisor's own representatives. This kind of "mining for intel" requires dedication and research expertise, but it may yield invaluable insights that could inform your decision-making process regarding the ownership of a franchise business.
Image: Unsplash/krakenimages
Even though the process of researching a franchise opportunity may seem daunting, as you can see there are steps you can take to make it easier. By conducting a cost-benefit analysis, gathering data on competitors, and investigating the franchisor's performance history, you can rest assured that you've done your due diligence in finding the right business opportunity for you.
See: CCA 2022 Investment Crowdfunding Report: 7 Charts Highlight Growth and Impact
With this information in hand, you can confidently pursue the franchise of your dreams. Good luck!
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Several Fintechs Focused on Helping Renters Become Homeowners in Canada
Fintech.ca | | Mar 15, 2023
Image: Unsplash/Justin Schüler
Several startups are at the forefront of “rent reporting” in Canada. Many also offer other features that aim to help renting Canadians gain a financial edge toward homeownership.
- Zenbase: Zenbase was founded with the vision of “becoming a trusted partner in managing household finances while eliminating late fees and predatory financing.” One of the primary features of Zenbase’s flexible platform is allowing users to split their rent into two payments, saving on stress and avoiding overdraft or late fees. Last year, Zenbase secured $4 million in seed funding in a round led by Global Founders Capital.
- Chexy: Launched in 2021, Chexy was the first Canadian payments experience that afforded tenants the possibility of paying home rent via plastic card. Users get cash-back and other rewards from spending on a card—both on rent and at Chexy partner brands—while also building credit. Chexy believes building credit through rent is an important step toward home ownership.
See: Halal Mortgages Emerging in Canada’s Housing Market
- Requity Homes: Founded in 2020, Toronto-based real estate platform Requity Homes operates a rent-to-own program that empowers Canadians to get one step closer to home ownership by allowing them to rent and save for their dream home with the option to purchase at a guaranteed price. “Requity Homes is a new innovative way to help Canadians reduce barriers to home ownership,” said Sam Kolias, President of Boardwalk Investment. “It allows investors to partner with home buyers, helping bridge the gap between renting and owning a home.”
- While many fintechs are focusing on helping renters transition to homeownership in Canada, it's essential for renters to also consider the importance of securing their current homes. Exploring options like ontario renters insurance can provide peace of mind and protection for their belongings during their renting phase.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Finimpact, Apply: Women’s Empowerment Business Grant (Up to $10K Funding)
Finimpact | March 16, 2023
Image: Finimpact
How to apply for the Finimpact Women’s Empowerment Grant?
- To be considered for the Finimpact Women’s Empowerment Grant you and your business must meet the following eligibility criteria:
- Step 1: Complete the application form: Following submission of the form an email containing your specific voting link will be sent to you. The form can be found here.
- Step 2: Share on social networks: Share what your business does, a challenge you`ve faced and overcame and the voting link sent to you by email.
- Step 3: Ask your social network to vote: Ask your friends and everyone in your social network to take part in the voting process by clicking on the link you posted.
See: Tips on How to Approach Funding in the Current Market
- The top 3 most voted applicants will receive a portion of the Finimpact Women’s Empowerment Grant.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Innovative Ways to Stay Ahead in the Financial Technology Industry
Guest Post | March 14, 2023
Image: Unsplash/Headway
The financial technology (Fintech) industry constantly evolves, with new technologies and innovations always emerging. To stay ahead in this rapidly changing industry, it's essential to be proactive and adopt new strategies and approaches. In this blog article, we'll look at some cutting-edge strategies for staying competitive in the fintech sector. We'll discuss leadership, innovation, small company and entrepreneurship, as well as digital identification.
Leadership in Fintech
Leadership in Fintech is a complex and ever-evolving topic requiring a deep understanding of the financial industry and technology. Fintech has disrupted the traditional financial industry by introducing new technologies and innovative business models, such as mobile payments, online banking, peer-to-peer lending, and blockchain-based solutions.
To be an effective leader in Fintech, one must possess a combination of technical expertise, business acumen, and leadership skills. A leader in Fintech should have a deep understanding of the financial industry and be able to identify new opportunities for growth and innovation. They should also be proficient in technology and understand how to leverage it to create new products and services.
Strong leadership is essential for any successful fintech company. Influential leaders must be able to manage and motivate their teams, make difficult decisions, and stay up-to-date with the latest trends and developments in the industry. They should also be able to communicate their vision and strategy clearly to all stakeholders, including employees, customers, investors, and regulators.
If you are a student with an APA research proposal task in the finance industry, consider exploring the leadership styles of successful fintech companies, analyzing the impact of leadership on organizational performance, or investigating the role of leadership in driving innovation in the fintech industry.
Innovation in Fintech
Innovation is at the heart of the fintech industry. To stay ahead, fintech companies must constantly look for new and innovative ways to solve problems and meet the needs of their customers. This requires a culture of innovation, where employees are encouraged to take risks, experiment, and think outside the box.
One innovative approach to Fintech is to focus on financial inclusion. By providing services and products to underbanked and underserved populations, fintech companies can expand their customer base and help to promote financial literacy and economic empowerment. For example, companies can develop mobile banking apps, peer-to-peer lending platforms, and blockchain-based payment systems accessible to people with limited access to traditional financial services.
Small Business and Entrepreneurship in Fintech
Small businesses and entrepreneurs are a driving force in the fintech industry. By developing new products and services, they can disrupt established players and bring fresh perspectives to the market. However, starting a fintech company can be challenging and requires a combination of technical expertise, business acumen, and marketing skills.
As an aspiring fintech entrepreneur, you may consider developing a business plan, identifying potential funding sources, and building a solid network of industry contacts. You can also join online communities and forums to connect with other fintech professionals, share ideas, and get feedback on your work.
Digital Identity in Fintech
Digital identity is a crucial area of focus for Fintech companies as more and more financial transactions are conducted online. To ensure the security and privacy of customer data, fintech companies must develop robust identity verification systems that are reliable and secure.
One approach to digital identity in Fintech is to use blockchain technology. Blockchain is a distributed ledger system that allows for secure and transparent record-keeping. Using blockchain-based identity verification systems, fintech companies can ensure customer data's integrity and security while reducing the risk of fraud and identity theft.
In addition to these strategies, staying adaptable and open-minded is also essential. As the fintech industry continues to evolve, new technologies and trends will emerge, and staying ahead will require the ability to pivot and adapt quickly. So be prepared to embrace change, learn new skills, and remain curious and creative in your approach to Fintech.
Final Thoughts
The fintech industry constantly evolves, and staying ahead requires leadership, innovation, small business and entrepreneurship, and digital identity. By adopting new strategies and approaches and staying up-to-date with the latest trends and best practices, fintech professionals can ensure their companies remain competitive and successful in this rapidly changing industry.
Whether you're a student conducting research in the finance industry or an aspiring fintech entrepreneur, many resources are available to help you stay informed and engaged. So be sure to explore online communities and forums, attend industry conferences and events, and keep up-to-date with the latest news and developments in the fintech industry. By doing so, you'll be well-positioned to take advantage of new opportunities and stay ahead of the curve in this exciting and dynamic field.
See: Alberta, The untold history of innovation from Canada’s badlands – Part 1
The key to staying ahead in the fintech industry is to be proactive, innovative, and agile. By focusing on strong leadership, fostering a culture of innovation, promoting small business and entrepreneurship, and prioritizing digital identity, fintech companies can thrive in this dynamic and rapidly changing industry. So whether you're a seasoned fintech professional or just getting started, embrace these strategies and approaches to ensure your success in this exciting field.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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With SVB Now Done. What’s the Impact for Canadian Tech?
Betakit | | March 10, 2023
Image: Unsplash/Koen Emmers
With news breaking Friday that the SVB bank has been closed by regulators, which have taken control of its deposits. This dramatic and quick downfall for one of tech’s most prominent financial institutions is likely to have cascading effects across not only Silicon Valley but Canadian tech.
- Canadian startups that have their US banking with SVB, or ostensibly Canadian companies that are legally domiciled in the US for tax purposes and use SVB, will be impacted by the bank closure.
- Numerous Canadian startups used SVB for their US bank accounts. “They were much more reasonable on rates and faster to help them than Canadian banks in the USA,” the VC said.
- In Canada, SVB plays a different role, as it does not have a banking license and only provides venture debt locally. As such, unlike their American counterparts, Canadian-domiciled companies likely won’t have their funds with the bank.
- SVB’s downfall could also create a “credit crunch” here. The shutdown potentially eliminates one pool of capital Canadian startups have relied on during the downturn.
See: US Government Closes Signature Bank and Moves to Stop Potential Banking Crisis
- Mark McQueen, until recently the head of CIBC Innovation Banking:
“For the sector, the repercussions aren’t entirely knowable at this stage,” McQueen wrote. “Entrepreneurs will have a harder time raising debt, at least temporarily. LPs will frown, for sure, which could make it harder for VCs to raise their next fund. The risk managers at competing banks will conclude what they’ll conclude, but SVB will no longer be easily held out as a proof-point of the appeal of lending to the innovation economy, even if this crisis had nothing to do with the credit quality of SVB’s loan book.”
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Digital Asset Experts School Senate Banking Committee Members on Silvergate Debacle
Crowdfund Insider | | Mar 9, 2023
Yet while crypto contagion and the failure of firms like FTX may be a catalyst to the demise of Silvergate Bank, ultimately, it was not the cause, according to multiple digital asset experts. This is contrary to statements made by several prominent US Senators.
- Senator Brown, Chair of the Senate Banking Committee, said that FTX’s collapse continues to “ripple outward” when a bank is “overreliant” on crypto.
- Response by Caitlin Long, a digital asset entrepreneur, crypto proponent, and former investment bank executive.
- Long provided a brief education to the Senator, stating:
“… you’re wrong [Senator Sherrod Brown] that #crypto triggered Silvergate’s issue. What did it was $13.3bn in demand deposits that depositors cld withdraw in minutes, but only $1.4bn of cash. Had $SI held $13.3bn of cash, the bank run wouldn’t have impaired its capital. Not a crypto prob…”
See: US Government Closes Signature Bank and Moves to Stop Potential Banking Crisis
Long added:
“When a bank w/ highly volatile deposits makes a levered investment in 10-year bonds into a Fed tightening cycle, what happens when a bank run hits is predictable—liquidate those bonds at a loss, impairing the bank’s capital. It’s an indictment against fractional-reserve banking.”
She said this is exactly what her digital bank Custodia proposed to fix – which was blocked by federal regulators.
- Ram Ahluwalia, a well-known Fintech entrepreneur and crypto expert, slammed Senator Elizabeth Warren’s statement on Silvergate’s failure. Senator Warren is a member of the Senate Banking Committee and has long opposed digital asset innovation.
Senator Warren stated:
“As the bank of choice for crypto, Silvergate Bank’s failure is disappointing, but predictable. I warned of Silvergate’s risky, if not illegal, activity—and identified severe due diligence failures. Now, customers must be made whole & regulators should step up against crypto risk.”
Ahluwalia said, “the Senator’s allegations should not be used to justify the destruction of a Federal Reserve member bank in a 120-character Twitter thread.”
See: Silicon Valley Bank Collapses. Second Largest Financial Institution in U.S. History
He added:
“Silvergate, the first crypto bank, faced a bank run that led to its downfall. Despite facing allegations around AML, it was not these issues that ultimately caused the demise of $SI. The responsibility for bank supervision lies with the Executive Branch, but this process was cut short. A Senator’s letter, amplified by social media, undermined public trust in Silvergate, ultimately leading to a crisis of confidence. It is important to uphold the principle of due process. Silvergate was denied due process.”
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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