When we estimated the market value of metaverse activity in June 2022, we calculated that it was between $200 billion and $300 billion. It’s larger now, and in eight years or so, it could be $4 trillion to $5 trillion
Investment crowdfunding, or crowd-sourced funding (CSF) as it is called down under, generated $72 million in online capital formation, according to an industry report.
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
A Whistle-Stop Guide to Starting Your Own CPA Firm
Feb 22, 2023
Image: Unsplash/Sarah Elizabeth
Money makes the world go round; however, money management is often tedious and time-consuming, which is why a lot of people prefer to offload this to an accountant. This means that many accountancy firms are already poised for success with the right strategies and policies. Starting your own CPA firm is not necessarily going to be easy, but this whist-stop guide can help to give you an overview of your next steps.
Accreditation & Certification
First things first, you need to understand the industry and its requirements. CPA firms tend to offer a number of services, including tax prep, audits, bookkeeping, payroll processing, financial statement preparation, budget development and financial advice. In order to open a CPA firm and offer these services, you need to be accredited and certified to do so. This means passing the relevant exams. Until you have done so, you cannot progress any further.
Market Research & Business Plan
After you have acquired the necessary qualifications, you should then begin to conduct the necessary research. You need to determine whether opening your own firm is a viable and realistic choice or if it would be better to go and work under someone else at another firm. You will need to work out the logistics and the demographics, so bear that in mind. Think about who your target audience will be and whether you will be able to appeal to them.
Your market research is likely to be integral to developing your business plan. This formal document will need to outline your vision and the mechanics of how it will all work. It should be as detailed as possible without being overly long or technical. This is because it will likely be needed when it comes to registering your business and securing any funding that you might need too.
The Legal Bits
Before you can progress any further with your plan to start your own CPA firm, you need to first decide which legal entity will be the most suitable for your business. There are three options: corporation, sole proprietorship, and general partnership. However, within these three, there are a few variations, including an LLC, LLP, or S Corp. Your choice will depend on your preferences and your personal and professional circumstances too.
Once you have done this, you can then move on to securing the other necessary legal documents. As a minimum, you will need a preparer tax identification number, a business licence to operate and insurance for CPA like the policy provided by The Hartford. The rest will largely depend on the services that you plan to offer and the clientele that you plan to work with, and whether this is individuals or businesses.
The Takeaway
Obviously, starting your own CPA firm is a little more involved than the steps outlined above, but as the title states, this is a whistle-stop tour. The above points represent the most important and immovable steps to starting your own firm.
See: CPAs Are Seeing Fintech Innovation Across Many Canadian Provinces
The rest can be customized to your business and is likely to include things like a cost breakdown, hunting for the right location and securing enough capital to get started.
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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IR Best Practices for Earnings Calls and Other Capital Markets Events
Guest Post | Feb 21, 2023
Image: Freepik/videoflow
Like other important capital markets events, your company’s earnings call plays an integral role in your investor relations strategy. However, sharing your quarterly performance in a way that upholds your IR strategy can be challenging for all those involved.
These best practices can help you organize the best presentation, whether it’s for earnings season or virtual bus tours, thematic conferences, or thought leadership events.
Reconsider Your Webcast Setup
Despite the word “call” in the title, few earnings calls are literal teleconference calls. Most IR professionals and C-Suite teams share their financials using webcasting services, adding a visual element to this critical presentation.
Updating your webcasting tools is crucial to hosting an effective virtual earnings call. The latest technology gives you the ability to create a customizable and fully branded experience with expert support.
Think About Analytics
On the backend of things, your virtual earnings call can reveal pertinent information about your attendees and their digital experience. You can use these insights to gain a better understanding of attendees and stakeholders by measuring the content that resonates with them the most.
You can place these insights into greater context when you consolidate these virtual analytics with other data pulled from your virtual channels. An all-in-one platform powered by engagement analytics makes it easier to act on your earnings analytics, as you’ll see how they compare to other engagements and strategic touchpoints with capital markets.
Sophisticated engagement analytics relies on powerful AI and state-of-the-art machine learning to find patterns in investor behavior. This can flag investors who need extra attention at the opportune time.
Create a Compelling IR Narrative
While your financials take center stage during earnings season, your IR narrative always plays an important role. Craft your communications with your brand’s story in mind, mirroring these values when discussing your performance.
You’ll want to ensure your messaging throughout your webcast aligns with your branding across all channels. Update your messaging to ensure it reflects the meat of your financials — whether it was a runaway year or a challenging time.
Checking in with your peer group is another strategy you can employ while crafting your webcast, especially if the market volatility has negatively affected your financials. Your competition can provide insights on how you can get in front of underwhelming earnings reports.
Sharpen and Simplify Your Financials
Your earnings are what makes the call, so it’s important you present your financials and other supporting documents in a clear and simple manner. It’s easy to overcomplicate this data when trying to make it presentable.
When it comes to earnings seasons, less is more. Don’t overburden your slides with too much text, unnecessary effects, or poorly designed graphics. Good design lets the data talk for itself and enhances your messaging.
If you aren’t sure of the best way to share your data in a digestible way, working with an IR partner can help you find the clarity you need. These professionals have created a list of design best practices that help you share visualized data in a way that supports your message, rather than detracting from it.
See: FCA Uses New Tools to Catch 14X more Mis-leading Ads than Last Year
There are countless ways to improve your earnings calls, but these four represent changes that have the most profound effect on your performance. Keep these in mind as you enter earnings season and beyond.
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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8 Important Steps To Take In Order To Make Your Business Idea A Reality
Feb 17, 2023
Do you have a great business idea? Owning a business sure has its rewards, but starting a business can be overwhelming and intimidating. Lucky for you, it doesn’t have to be!
With the right steps, you can make your business dreams come true. From creating a business plan to finding funding, you need to take many steps to make your idea a reality.
Growing a business is an exciting journey; with the right guidance, you can succeed. You will learn how to create effective strategies that will help you reach new heights and take your business further than ever before.
Read our blog post on the essential steps of starting and growing a business!
1. Brainstorm Business Ideas and Create a Business Plan
Starting a business is an exciting journey but can also be overwhelming. It is important to take the time to brainstorm business ideas and create a comprehensive business plan before taking the plunge. Brainstorming involves getting as many ideas on paper as possible and exploring them further.
It could involve:
- Talking to potential customers to understand their needs better
- Researching existing products or services
- Scoping out the competition
Creating a business plan will provide you with the roadmap you need for success, helping you identify attainable goals and strategies with the available resources. With these steps in place, you'll be well on your way to launching your dream business!
2. Research the Market and Competition
Researching the market and competition is essential to creating a successful business plan. It allows you to identify the following:
- Opportunities
- Assess risks
- Develop strategies
This research can help you:
- Understand the industry's current state
- Analyze competitors’ strategies
- Track trends in customer behavior
- Provide insights into pricing models
With this data in hand, you’ll be able to make better decisions when crafting your business plan and have the edge over the competition.
3. Secure Business Funding
Securing business funding is an integral part of launching a successful business. There are many options to explore, from:
- Traditional bank loans
- Crowdfunding to grants
- Investments
- Instant loans
If you are Canadian, there are plenty of options to start your business. These instant loans being offered in Canada could set you on the right path. Find out about the different funding options available in Canada and create a plan that works for you and your business.
It’s important to research and determines what type of funding will work best for your circumstances. Consider each type of loan or investment's requirements and make a plan that meets your and the lender’s needs.
When done right, you'll have enough funds to ensure smooth operations and maintain good cash flow while paving the way for long-term growth.
4. Create a Business Structure and Register Your Business
Creating a business structure and registering your business are important when starting a company. Choosing the right legal entity is essential for protecting yourself and your assets.
Different entities have different:
- Tax implications
- Regulations
- Liability risks
So it’s crucial to understand their differences and select one that meets your needs. Once you register, you can open your business bank accounts and access necessary resources such as vendor discounts.
Proper registration also guards against potential financial penalties or liabilities down the road.
5. Set up Accounting Systems to Track Finances
Setting up accounting systems is a critical step in tracking the financial status of your business.
Whether you hire an accountant or take on the responsibility yourself, an effective tracking system must be established when starting a business.
This includes:
- Opening the appropriate bank accounts and ledger books
- Determining which type of taxes will apply
- Setting up processes for tax filings
A proper accounting system also ensures compliance with financial laws and encourages accuracy in the:
- Budgeting
- Forecasting
- Decision-making
6. Build an Online Presence for Your Business
Building an online presence for your business is essential for gaining visibility and connecting with potential customers. To make sure you reach the right audiences, start with an effective website design that showcases your products or services in a clear, attractive format.
Integrate social media channels and create content to help:
- Promote your site
- Attract more visitors
- Boost sales
Leverage search engine optimization techniques to rank higher in search results and strengthen your credibility among customers. Finally, stay on top of analytics to track visitor engagement, evaluate performance and optimize as needed.
7. Develop Marketing Strategies to Reach Customers
Developing successful marketing strategies can help you reach a wider customer base and encourage more sales. Start by doing market research to:
- Identify the target audience
- Understand their needs
- Determine how best to reach them
Design promotional campaigns with engaging visuals, compelling copy, and clear calls-to-action that capture leads drive conversions, and increase brand awareness.
For maximum visibility, utilize digital channels such as:
- Search engines
- Online ads
- Social media
8. Grow Your Business
Once your business is up and running, it's time to focus on growing it. Identify areas of improvement while leveraging opportunities to scale.
- Expand your customer base by reaching out to new audiences through targeted campaigns
- Invest in employee development strategies to create a more productive and engaged workforce
- Utilize technology solutions such as:
- Automation
- Customer relationship management
- Business intelligence to streamline processes and drive growth
- Monitor key performance indicators to measure progress and make adjustments
With the right steps in place, you can make your business idea a reality and watch it grow into the success you’ve always dreamed of!
Start Realizing Your Business Today
Starting a business is never easy, but with the right steps and dedication to turning your business idea into reality, you can make it happen. You can create a strong foundation for success by understanding the various legal entities available for:
- Business registration
- Setting up accounting systems to track finances
- Building an online presence for your business
- Developing marketing strategies to reach customers
Don’t be afraid of taking risks or investing in new technologies – these are essential to any successful business model. With hard work and perseverance, you will be well on your way toward realizing your business dream!
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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KPMG: Canadian Fintech Investment Drops in 2022, Mentality Shift to ‘Sensible’ Growth
KPMG | Release | Feb 15, 2023
Investment in Canada's fintech sector dropped last year, as valuations declined more than five-fold and the number of deals slowed significantly towards the end of the year. Despite the slowdown, it was still the second-best year for deal volume.
- 2022 highlights: There were 169 fintech investments worth US$1.3 billion in Canada in 2022, down from a record 217 deals worth US$7 billion in 2021, according to data compiled by PitchBook for KPMG in Canada.
- In H2'22, there were 68 investments worth US$439.9 million (down from H1'22 when there were 85 deals worth US$810 million)
- The fourth quarter was the weakest quarter of the year, with 27 deals worth $154.8 million (down from the first quarter, which saw 41 deals worth US$285 million and the fourth quarter of 2021 which saw 52 deals worth US$956 million).
- There were no (fintech) IPOs in Canada
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Cryptoassets and Payments draw investors: By sector, payments remained the hottest sector globally, while cryptoassets and blockchain companies garnered the most interest in Canada despite a year of volatility from the collapse of some stablecoins, cryptoasset exchanges and lenders.
See: FIS Report: Embedded Finance, Web3 and ESG Lead 2023 Fintech Investment Focus
- Count by Deal type:
- 57 seed round
- 41 early-stage VC
- 30 late-stage VC
- 20 M&A
- 9 angel investments
- 7 buyouts/LBOs
- 5 PE growth/expansion
- Investment Count by Sector
- 51 Cryptoassets
- 16 Payments
- 15 RegTech
- 12 InsurTech
- 8 Proptech
- 1 Cybersecurity
- 1 WealthTech
See: KPMG Fintech Pulse H1’22 Report: Global Fintech Investments $107.8B across 2,980 Deals
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Outlook for 2023:
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The slump in Canadian and global markets put downward pressure on valuations last year, a trend expected to continue this year.
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A potential recession, rising interest rates and inflationary pressures are top of mind for investors, so we expect valuations and deal volumes to remain subdued through 2023, with a slight pickup near the end of the year
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The fintech space is also undergoing a bit of a mentality shift from 'growth at any cost' thinking to focusing on sensible growth and cash preservation
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In 2021, many companies saw a huge influx of capital from VC investors, so some of those firms won't need cash until sometime in 2023 - maybe even 2024 – because they've streamlined and restructured their operations to make that cash last longer.
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View the original release --> here
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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What CEOs Should Know About the Metaverse
McKinsey & Co | Homayoun Hatami, Eric Hazan, Hamza Khan, and Kim Rants | Jan 24, 2023
When we estimated the market value of metaverse activity in June 2022, we calculated that it was between $200 billion and $300 billion. It’s larger now, and in eight years or so, it could be $4 trillion to $5 trillion
- Exponential growth is possible because of an alignment of several forces: the metaverse’s appeal spans genders, geographies, and generations; consumers have already shown they are ready to spend on metaverse assets; they are open to adopting new technologies; companies are investing heavily in the required infrastructure; and brands experimenting in the metaverse are finding that customers are delighted.
See: Building Comprehensive Digital Identities in the Metaverse
- Two leading use cases: Soon, companies will likely offer customers an unprecedented shopping experience in the metaverse; effectively, it will be a 3-D e-commerce channel. For now, to get a sense of the potential, consider two of the largest and more advanced uses, one for consumer businesses and one for B2B companies:
- Brand marketing and consumer engagement. Many companies have already added the metaverse to their omnichannel marketing mix, staking out a presence in virtual worlds like Roblox, Fortnite, and the Sandbox. Some are already finding success.
- Nike has hosted more than 26 million visitors at Nikeland, its space in Roblox, and it has sold over $185 million of NFTs for digital sneakers and suchlike products.And its digital division has tripled revenues to exceed $10 billion, almost a quarter of the company’s total.
- Digital twins. In the metaverse, every asset, process, or person within and related to an enterprise can be replicated virtually—and connected. As a result, nearly every aspect of work can take place digitally before it does so physically. By building digital twins—virtual replicas of physical settings and objects in a metaverse that generate data in real time—far richer analyses can be generated to enable improved decision making.
- Brand marketing and consumer engagement. Many companies have already added the metaverse to their omnichannel marketing mix, staking out a presence in virtual worlds like Roblox, Fortnite, and the Sandbox. Some are already finding success.
See: Highlights from McKinsey’s “Value Creation In The Metaverse” Report + Web3 for Skeptics by Brainsy’s CIO
- CEOs can act/plan/benefit now: Both the optimists and the skeptics have solid evidence to support their views. But the balance of evidence may slightly favor the optimists. Seventy-one percent of the 79 largest consumer firms globally have already put down stakes in the metaverse. The rest are running the risk of being caught without a plan. Companies in other industries are watching carefully and making plans; very few will be untouched by the metaverse.
- Depends on the sector: the metaverse has the most potential to upend sectors such as banking, manufacturing, media, professional services, retail, and telecommunications. CEOs in these industries could consider taking more assertive steps than others.
Continue to the full article --> here
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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Tips on How to Approach Funding in the Current Market
FastCompany | Leslie Feinzaig | Feb 6, 2023
Image: Freepik/yanalya
There was a moment last spring when startup founders across the globe experienced a sudden collective whiplash. It was the Great Venture Capital Reset of 2022, when fundraising activity screeched to a halt after running fast and hot for the longest bull market in VC history.
- Data from last quarter also confirms that rounds are taking much longer to come together.
- “The average time between a seed round and a Series A stood on average at 621 as recently as Q1 2021”. In Q4 of 2022 it was 798 days. That’s the highest we’ve tracked in more than five years.”
- Valuation caps were also lower: Median seed round pre-money valuation dropped to $14M in Q4 compared to $15M in Q1 2022, and median Series A was $39M in Q4 versus $50M in Q1. In other words, rounds are happening, but they are low and slow.
- VCs spending more time and dollars on existing portfolio firms: A recent report published by DocSend suggests that founders are sending out 30% more pitch decks since the start of 2022. Unfortunately, VCs are engaging with them 23% less often.
See: Corporate Venture Capital and How It May Impact Your Startup
- New norm for now: Advice for founders who are considering raising an early round of venture capital this season. When it comes to valuation caps, the new normal necessitates that founders be realistic, forward looking, and even pragmatic. “Instead of thinking, ‘How much do I believe I’m worth?’ shift to “What valuation can I grow into comfortably in a short period of time?” says Hernandez Middleton.
- I encourage founders to create a financial model that connects expenditures to business outcomes and use it to determine how much money you really need to get to the next stage. Investors are paying very close attention to these numbers, and the reasoning behind the numbers.
- Metrics: traction was a key factor for successful fundraising in the latter half of 2022. VCs spent 41% more time looking at traction in decks. It was the “most-scrutinized section among companies that didn’t receive funding.” In other words, traction alone won’t get you a round, but a lack of traction will thwart you.
- Be current: encourages founders to revisit their customers’ needs and the problem they are solving. “We’ve been recommending founders go deep with customers to refresh any early discovery work—does your initial value proposition still solve an urgent problem?” she asks. “Make sure you understand how their world has changed in this market.
See: Venture Capitalists Dislike Women More Than They Like Profit
- Investor-founder fit: One thing that makes fundraising much easier is to have strong investors acting as your advocates. “Finding investor-founder fit is more important than ever. As funds continue to grow, specific partners focus on specific theses. And as VC firms proliferate, each fund has a very specific mandate. My advice to founders is to focus on finding your believers, and ignore the noise of the crowd.”
Continue to the full article --> here
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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Australian Equity Crowdfunding Markets Raised $72 Million in 2022
Crowdfund Insider | JD Alois | Jan 30, 2023
Investment crowdfunding, or crowd-sourced funding (CSF) as it is called down under, generated $72 million in online capital formation, according to an industry report.
- The information is compiled by Birchal, the largest online investment platform in Australia. Birchals has been providing this report for several years now.
- While a smaller market, Australia continues to grow. In aggregate, since 2018, issuers have raised $219 million for approximately 250 SMEs.
- Average deal size – $733,000
- Average individual investment – $1695
- 70 securities offerings were over $1 million
- Total market estimated market cap of firms completing a securities offering at $1.4 billion
- There have been 50 follow-on securities offerings
- The largest securities offering to date was for ZeroCo for $5 million (October 2021)
See: CCA 2022 Investment Crowdfunding Report: 7 Charts Highlight Growth and Impact
- The fastest funding round was for Your Mates Brewing in October 2022 at under two hours
- Birchal reports the bulk of online capital formation for early-stage ventures at 192 offerings raising $144 million
- In 2022, most issuers were “growth stage” (49%) with greater than $1 million in reported revenue. Pre-revenue startups accounted for 16.5% of the funding activity.The number of pre-revenue firms raising capital declined from 2021, while revenue-generating firms raising capital increased dramatically.
- Industry sectors that have been the most popular issuers include:
- Food and Beverage at 39%
- Financial Services at 12%
- Sustainability at 11%
In 2022, most issuers were “growth stage” (49%) with greater than $1 million in reported revenue. Pre-revenue startups accounted for 16.5% of the funding activity. The number of pre-revenue firms raising capital declined from 2021, while revenue-generating firms raising capital increased dramatically.
Continue to the full article --> here
Download the 24 page PDF report --> here
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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