An overlooked key to growth: How well you transition from Founder to CEO determines how your company scales.
A new book from Wharton management professor 
Almost two in five of the bosses of global companies fear their businesses will be unviable within a decade because of the 
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
Tips on Establishing Your Small Business in the Asian Market
Jan 27 2023
Image: Unsplash/Kotaro Maruyama
Starting a business in the Asian market can be an exciting and rewarding experience. With its vast population, diverse cultures, and growing consumer demand, there are huge opportunities for entrepreneurs to gain success in this region.
However, it is important to understand the unique challenges that come with doing business in Asia. From navigating cultural differences to developing effective marketing strategies for local consumers, establishing a successful small business requires careful planning and execution.
Popular Asian cities to start a business
Whether you’re looking for a vibrant culture and nightlife or a more traditional setting with lower overhead costs, there is something for everyone in this vast region.
These are some Asian cities which are always popular with both entrepreneurs and big companies for you to consider when planning a breach to the Asian market.
Hong Kong – The Gateway to Asia’s Markets
Hong Kong is a top destination for entrepreneurs from around the world. The city boasts low business and corporate taxes, easy-to-navigate government regulations, pro-business banking and financing laws, and strong infrastructure to support businesses of all sizes.
Starting a business in Hong Kong is relatively easy and straightforward. All new businesses are required to register with the Companies Registry, which takes about one or two days to complete. Additionally, Hong Kong is home to a large pool of talented professionals and an excellent business culture, making it a great place to start a business in Asia.
With access to major markets such as mainland China, India, and Japan, Hong Kong is an ideal place to launch a venture with the ability to tap into the resources of multiple countries with minimal effort.
Singapore – A Land of Opportunity
Singapore is an attractive destination for entrepreneurs and business owners alike. With its strong focus on international trade, low taxes, and stable economy, Singapore is one of the best places to set up shop in Asia.
The city’s open doors policy has resulted in a melting pot of cultures and ideas – making it an ideal place to network, connect with potential customers, and bring your business vision to life.
Tokyo – Japan’s Center of Business and Innovation
As the largest metropolitan area in the world, Tokyo is an attractive destination for businesses looking to expand into Asia. The city is a major hub for technology, finance, and innovation – making it a great place to start up a new venture.
Home to many of Japan’s biggest companies, Tokyo is the perfect destination for entrepreneurs looking to take advantage of the country’s advancements in technology and industry.
Understand The Asian Market
This is essential to ensuring your business can be successful in Asia. Understanding the culture of the region you are targeting is essential for success.
Familiarize yourself with local customs and learn about the economic, political, and cultural implications of doing business there. Research local regulations and laws to ensure compliance with all relevant rules and regulations to ensure everything goes as smoothly as possible.
Also, consider the local consumer preferences and competition, which can vary greatly from company to company.
Identify An Unmet Need In The Market
This could be a product or service that is not yet available in the Asian market, or something that can be offered differently and more effectively than what's already out there.
Research your competitors to find out what they are offering and how you can do it better.
Create A Business Plan
A business plan is an essential document that outlines the strategy, objectives and expectations of your small business. It should include a detailed analysis of the market, a competitive landscape, opportunities, risks and financial projections.
This will help you make informed decisions regarding investment and expansion in the Asian market.
Secure Funding
Accessing capital is essential for any business, and the Asian market is no exception. It’s especially important to research local sources of funding before you even begin to consider an international loan from a foreign financial institution.
Look into Small Business Administration (SBA) programs in your area or research grants and other assistance offered by regional government offices.
Choose Your Location Wisely
Where you locate your small business is an important factor in determining its success. In the Asian market, there are many large cities and small towns where you can set up shop, so it’s important to research the different locations and see which will best fit with your desired business model.
Consider factors such as the availability of resources like suppliers for your products, the local population’s buying power, and the overall business climate in that area.
Formulate An Entry Strategy
There are many ways to enter the Asian markets including exporting products, setting up a physical presence through subsidiaries or joint ventures, and engaging in e-commerce activities.
Each option has different pros and cons depending on the type of business, the target market and the resources available. It is important to educate yourself further about each entry strategy to determine which one would be best for your business.
Network With Other Small Business Owners
One of the best ways to start building your presence in the Asian market is to network with other small business owners. Networking can help you learn more about the specific markets you’re interested in, as well as how to navigate them successfully.
You can find local networks or join global ones; either way, connecting with other small business owners can help you make the right connections and build a successful business.
Invest In Quality Marketing Strategies
One of the best ways to get noticed in Asia is through social media and digital marketing campaigns.
Utilize blogs and other online channels to reach potential customers, as well as attending trade shows, networking events, and conferences to generate buzz. Consider using influencers in the region to promote your business and build trust with potential customers.
Monitor Progress & Adjustments
Monitor sales, customer feedback, and changes in regulations that could affect your operations. This will help ensure you are staying competitive and up-to-date with current trends. You should also adjust your strategy as needed based on these findings.
Be Mindful Of Changes
Businesses in the Asian market are not immune to changes and trends, so it's important to stay informed. Keeping track of political and economic developments as well as new technologies that could potentially affect your business is vital.
Knowing how laws, regulations, and trade agreements might shape the future of your industry can help you plan ahead for potential changes and be prepared to adapt if necessary.
Connect With Your Customers
In order to successfully establish your small business in the Asian market, it is important to build a relationship with customers and know their feedback. Ask for their opinion on products or services you provide, as well as feedback on areas that need improvement.
This feedback can be invaluable when it comes to understanding customer needs and expectations. Don’t forget to listen to any feedback that you receive – it can help you steer your business in the right direction.
Take Risks & Find Opportunities
Be willing to take risks and find opportunities in the Asian market that can help you make your small business a success.
You may need to consider different strategies than those used in other markets, such as starting or expanding an e-commerce presence, or introducing products that are tailored to local tastes and preferences. Be open to new ideas and approaches, and don’t be afraid to try something new.
Focus On Quality & Customer Service
Quality products and services that are tailored to meet the needs of your customers will help you stand out from competitors and build trust with your clients.
Providing excellent customer service is key to success in any market, but especially in Asia where customer relationships are held in high regard. Make sure that you treat each customer with respect and provide them with a great experience.
Be Open To Change
The culture and infrastructure in Asia are constantly evolving and being able to adjust your strategy to fit the changing environment is essential for success. Think outside of the traditional box when looking for ways to reach potential customers or partners.
Networking locally is key to understanding the regional nuances and norms that could make a difference in how your business is received. Staying up-to-date on digital trends can help you stay ahead of the curve when reaching out to potential customers or partners.
Investing in mobile marketing campaigns and utilizing social media channels are excellent ways to increase brand visibility and get connected with people in the Asian market.
Be Prepared For Challenges
No matter how prepared you may be, there will always be challenges when starting a business in a foreign country. Be ready to face language barriers or cultural misunderstandings that can arise when presenting your company and products to potential customers or partners.
Make sure to do your research before establishing your business and ensure that you fully understand the laws and regulations of the country in which you will be operating. Take into account the various tax implications of launching a business in Asia and how this can affect your overall bottom line.
See: Hong Kong’s Finance Regulator Says ‘Blocks are Ready’ to Grow Digital Asset Ecosystem
Lastly, it is important to remember that success does not come overnight – it takes time, dedication and hard work to build a successful business in the Asian market. Be prepared to strive for success and remain resilient even in the face of adversity.
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 Top CEOs Set the Stage for Growth
NFX | Gigi Levy-Weiss | Jan 26, 2023
An overlooked key to growth: How well you transition from Founder to CEO determines how your company scales.
- Seed stage Founders have a hand in everything: marketing, hiring, product, sales, everything. You have to early on. But when your startup starts to grow you can’t – and shouldn’t – keep doing it all yourself.
- The deceptively simple secret: Elite CEOs build systems.
Read: Culture and Diversity Leadership: Tale of Two Doors
- Hiring: Before we dive into systems, let’s get this out of the way. Don’t worry about spending too much time on hiring. Take the time you need to surround yourself with the right people[, and don't be afraid to try people out'.
- Wix CEO: "I cycled for 22 people before I found Omer Shai, my CMO. I hired and moved people to different things. I fired people. It was around 22 people that they hired within about a year and a half…When I got to Omer after a few weeks, it was obvious he was on a different level. "
- Testing: You can’t tell who is going to be a “super talent” in an interview.
- Titles don't matter: Wix lets employees set their own job titles. That allows you to wait, see who performs the best, and give them that role later on.
- Fix mistakes quickly: My philosophy on this is that A players hire A players A+ players hire A+ players. B players hire C players. C players hire D players and D players hire F players, right?
- Measurement systems: Most Founders are good at measuring core KPIs, and bad at measuring support tasks. Here’s how we suggest you approach measurement:
- If you can’t measure it, it didn’t happen. Share measurements widely
- Differentiate between Good Failure and Bad Failure: Good failures happen when an underlying assumption is wrong. Sometimes you execute something well and it just doesn’t work. That’s okay. Now you know not to repeat this experiment.
See: The Silent Mental Health Crisis: Leadership Burnout
- Speed/productivity:
- Every project has a clear owner
- No waiting in line for resources
- Kill useless meetings. Redistribute responsibilities within projects to cut down on meetings.
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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How Divestiture Can Create Corporate Value
Knowledge at Wharton | Angie Basiouny | Jan 17, 2023
A new book from Wharton management professor Emilie R. Feldman offers a comprehensive primer on divestitures, which can be a financial game-changer for companies that know how to execute them correctly.
- Feldman, whose research focuses on corporate strategy and governance, spoke to Wharton Business Daily on SiriusXM about her book, “Divestitures: Creating Value Through Strategy, Structure, and Implementation,” which was released in December.
- Opportunity cost: Often the idea of focus is overlooked by executives, and this is really the missed opportunity that could be pursued in the sense that divesting, removing assets and businesses that don’t fit and might be underperforming, could free up resources to pursue better opportunities in a more focused fashion after completion of those transactions.
- “Managerial compensation is strongly correlated with market capitalization, so there’s a financial incentive not to divest because doing so reduces the executive’s bottom line.”
See: Bill Gates Announces $20 Billion Donation and Obligation to Return His Resources to Society
- 4 strategies:
- resolving or exiting underperforming businesses;
- improving focus;
- reconfiguring and reshaping the corporate portfolio to move into more profitable opportunities; and
- addressing regulatory requirements.
- Types of divestitures: Sales are the most common, but spinoffs and other transactions could be utilized in different circumstances. And finally [there’s] implementation, which has to do with the nuts-and-bolts execution of these strategies and how companies actually put them into practice.
- Value: if we look at value creation potential, the data show that, on average, divestitures create two to three times the shareholder value of M&As.
- Culture: Important misconception about divestiture and the stigma that is often associated with these transactions. Divestitures are seen as, “OK, we bought something and it didn’t work out, so now we’re getting rid of it.”
- There’s a whole world of thinking about divesting more proactively. “What could we be doing that we’re not doing because we’re holding on to this business, not because it’s underperforming or failing but just because we could to better things with our money, our time, our attention, our resources, our people?”
See: CB Insights: FTX ‘Bagholders’ — Investments and M&A Portfolio Map
Emilie Feldman, Wharton Management Professor:
What divestitures can catalyze, especially in companies that are managing them well, is opportunities to rethink how resources are allocated within the company.
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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OSC Announces New and Free SME Institute Webinars
OSC | Release | Jan 16, 2023
Image: Unsplash/Simon Abrams
The Ontario Securities Commission (OSC) today announced a new lineup of free webinars for small and medium enterprises (SMEs). The webinars are offered through the ‘OSC SME Institute’ which helps small businesses understand and navigate the requirements of being or becoming a public company in Ontario.
- Overview: The new webinars provide an opportunity for issuers and their advisors to hear directly from staff with guidance to assist them in meeting their continuous disclosure reporting obligations and on various prospectus initiatives designed to reduce regulatory burden for reporting issuers. Participants will also have an opportunity to interact with staff during the Question & Answer portion of the webinar.
See: OSC Report: How Gamification Influences Retail Investors
- Key topics covered in the webinars will include:
- Non-GAAP and other financial measures disclosure
- Overly promotional disclosure (including greenwashing)
- Forward-looking information disclosure expectations
- Financial reporting and disclosure expectations during economic uncertainty
- Management Discussion and Analysis and prospectus filing common deficiencies
- A refresher on prospectus exemptions including new temporary exemptions.
- Upcoming: For full details on the webinars and to register, visit the SME Institute calendar on the OSC website. For questions related to course content and registration, please contact SMEInstitute@osc.gov.on.ca.
- On-demand: Archived replays of the webinars will also be available on the OSC’s website and YouTube channel . Previous archived webinars include financing options for SMEs
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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How Important is KYC for crypto transactions?
Guest Post | Jan 20, 2023
Image: Freepik/crypto
Cryptocurrency is a revolutionary new form of money and it’s here to stay. With its decentralized, digital nature, it can be utilized for financial transactions with greater privacy than a traditional currency like dollars and euros. But even though blockchain technology offers more security than other systems, there are still necessary steps that need to be taken in order to ensure that crypto transactions are done safely. In this blog, we'll be taking a look at why knowing your customer (KYC) is important for crypto transactions.
What Is KYC?
KYC stands for ‘know your customer’ and is a set of procedures required by most financial institutions. It is a process by which businesses verify the identity of their customers in order to ensure that they are not involved in any illegal activities such as money laundering or terrorism financing. This involves collecting information like names, addresses, and other documents to verify the customer’s identity.
What is AML?
AML stands for ‘anti-money laundering’, which is a set of laws and regulations to prevent criminals from using the financial system to launder money. AML requires businesses to put in place certain measures to help identify suspicious activity and ensure that customers are who they say they are.
What is Crypto?
Crypto is a digital form of currency that exists on a decentralized, secure network called the blockchain. It can be used to make payments, store value, and transfer funds without any third-party interference like banks or governments. This makes it an attractive alternative for those who want to make financial transactions without having to worry about the regulations associated with traditional currency. Transactions are secure, private and fast, so it’s no wonder that more and more people are turning to cryptocurrency as time goes by.
Why Are AML Regulations In Place?
AML regulations were put in place to protect businesses and consumers from financial crime such as money laundering. They also help ensure that the customer is legitimate and not attempting to use someone else’s identity for illegal activities. These regulations can help reduce fraud, as well as provide better protection for customers and businesses alike.
What Are Some Examples of Anti-Money Laundering Regulations?
Examples of AML regulations include customer due diligence (CDD), suspicious activity reports (SARs), and know-your-customer (KYC) processes. Let's look further into two and how they prevent money laundering:
Customer Due Diligence: This is a process where businesses perform due diligence on their customers to ensure that they are not involved in any criminal activity. This includes verifying the customer’s identity, assessing their source of funds, and monitoring their transactions for signs of suspicious activity.
Suspicious Activity Reports: Businesses are required to report any suspicious activity or transactions that may be related to money laundering. This helps prevent criminals from using the financial system for illegal activities.
Combined with KYC, these regulations help make sure that businesses are not unwittingly used for money laundering and other financial crimes. This keeps cryptocurrency transactions safe and secure, while at the same time ensuring that customer data is kept private and secure.
How Important Is KYC For Crypto Transactions?
Cryptocurrency transactions are often anonymous, meaning that there is no way to verify the identity of the sender or receiver. Therefore, it is important for businesses involved in crypto transactions to ensure that proper KYC measures are taken.
What Are The Benefits of Using KYC For Crypto Transactions?
Let's take a look at some of the benefits of using KYC for crypto transactions:
- Increased security – By verifying the identity of customers, businesses can reduce the risk of fraud and money laundering. This helps to ensure that customer funds are safe and secure, as well as preventing malicious actors from taking advantage of the system.
- Enhanced customer experience – KYC procedures help to create a smoother, more secure process for customers. This ensures that customers have a positive experience when using crypto transactions, as well as preventing any potential fraud or identity theft.
- Reduced risk – KYC helps businesses reduce the risk of being involved in illegal activities, as it allows them to verify the customer’s identity before any transactions take place.
- Improved compliance – AML regulations require businesses to take certain steps to help prevent financial crime. By implementing KYC procedures, businesses are better able to meet their compliance requirements.
- Improved trust – Customers can have greater trust in a business when they know that it is taking the necessary steps to protect their funds and identity. This helps to promote customer loyalty and build long-term relationships.
Is The Blockchain Secure Without KYC?
The blockchain is an immutable ledger, meaning that it is nearly impossible for anyone to alter or reverse a transaction once it has been written to the chain. However, this does not mean that there are no risks involved with using cryptocurrencies. Without KYC procedures in place, there is still a risk of malicious actors exploiting the system and attempting to launder money or steal identities. That’s why it is so important for businesses to use KYC when dealing with crypto transactions.
Is Crypto The Future?
Cryptocurrency is still a relatively young industry, and it’s uncertain whether it will become widely adopted in the future. But one thing is for certain: KYC procedures are essential for businesses involved in crypto transactions to ensure that their customers' funds and identities are safe.
See: Will Crypto Recover in 2023? Quite Possibly, and Here’s Why
By taking the necessary steps to implement KYC regulations, businesses can help protect themselves and their customers, as well as create a more secure crypto environment.
In conclusion
KYC is an important part of any cryptocurrency transaction. By implementing proper KYC procedures, businesses can reduce the risk of fraud or money laundering while also creating a smoother and safer experience for customers. This helps to promote customer trust and loyalty, while also ensuring compliance with AML regulations. With the right measures in place, businesses can help ensure that crypto transactions are secure and compliant.
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 Successfully Spot Your Next Sales Team Leader
Guest Post | Jan 19, 2023
Image by Freepik
The direct selling industry, comprised of 1.37 million Canadians, is a valuable sector of Canada's economy. Businesses looking to grow and expand their services need a qualified sales team leader on their team for success. Hiring an experienced professional allows companies to boost sales and increase revenue, contributing to the brand’s image.
A top sales leader can positively impact your company's goals and your team's performance, as they will likely possess the skills and knowledge to guide your team in the right direction. Some skills that sales leader must have include integrity, the ability to lead and motivate, effective delegator, and active listening. If you're looking for an efficient sales professional to boost sales and grow your company, consider the following factors when selecting a new team leader.
Look Beyond General Job Boards
General job boards are a great place to find your next team member, but when you're looking for a team leader, it's best to take a few extra steps to ensure you find the right candidate. Post your job advertisement on a niche job board that caters to sales professionals. This will attract the right pool of candidates, saving you time spent browsing through unqualified applicants.
Niche job boards allow more candidates to discover your organization, so you can use minimal resources to appeal to your target audience. It also gives you more control over your postings and enables you to determine which recruitment strategies are working. With less competition from other hiring companies, it is easier for employers to evaluate the postings and keep track of applicants to gain a deeper insight into the strategies effectiveness.
Clearly Define the Role
If the candidates applying for the position do not clearly understand what your company is seeking, you might receive applications from unsuitable individuals, wasting your time and energy. As an employer, you must clearly outline your expectations from the sales team leader. A sales team leader's key roles and responsibilities include delegating tasks, setting sales targets, preparing sales reports, and motivating the sales team.
In addition to the duties of the sales team leader, you must also describe the minimum qualifications required to be considered for the role. Does the applicant need to have a specific degree? Do they need a minimum amount of experience? Does their sales experience need to be in the same industry?
Consult Experienced Sales Headhunters
A recruitment agency takes on all the work and effort required in the hiring process. Working with a specialized agency that specializes in hiring sales professionals is a bonus. Top agencies can have a database of over 200,000 candidates that they can match you with based on your company's needs. These candidates have already been thoroughly screened to ensure they are the right fit for top companies.
Work with qualified sales headhunters in Toronto when filling a sales team leader position in your company to find the best fit. Specialized recruitment agencies will sort candidates based on several factors that prove their eligibility as a team leader, including experience, education, aptitude, personality, and drive. Identifying these qualifications allows sales headhunters to find candidates suited to a company's specific needs. This takes the guesswork out of the hiring process and allows you to build a top-performing team of qualified professionals.
See: Businesses Must Check These Key Financial Indicators
Hiring top-tier team leaders for your company is the best way to enhance growth and help your sales team reach its goals. Consider the tips above to spot your next sales team leader successfully.
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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Davos: Almost 40% of CEOs ‘Fear Their Multinational Companies will be Unviable within 10 Years
The Guardian | Larry Elliott and Graeme Wearden | Jan 16, 2023
Almost two in five of the bosses of global companies fear their businesses will be unviable within a decade because of the struggle to find talented workers and the need to adapt to technological change.
- As the World Economic Forum got under way in Davos on Monday evening, a survey of chief executives by the consultancy firm PwC was released, showing a downbeat mood about the immediate global outlook and longer-term survival prospects.
- Tech Capabilities: The PwC survey found that 40% of UK CEOs believed their company’s tech capabilities were not good enough to meet their strategic objectives, and thought the problem would get worse without urgent action. As a result, 86% of UK chief executives said they were automating processes and 74% were upgrading skills in key areas of their businesses.
See: Davos: Cooperation in a Fragmented World: In Data We Trust
- Existential: Of the UK CEOs questioned, 21% said they could not see their businesses lasting a decade on their current trajectories, rising to 39% for global CEOs. Almost three-quarters of CEOs (73%) from around the world said global growth would decline over the coming year – the most pessimistic finding since the question was first asked 12 years ago.
- In a separate piece of research, two-thirds of a group of 22 private and public sector chief economists surveyed by the WEF thought there was likely to be a global recession in 2023, with almost one in five saying it is extremely likely to occur.
Kevin Ellis, the chair and senior partner at PwC UK:
Businesses have already undergone massive change this decade, with hybrid working and cloud computing among the big shifts. But this is the tip of the iceberg – many CEOs believe their current business models are unsustainable and this means more change ahead.
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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