Merchant Advance Capital has its roots in the startup culture – having grown from a two-man operation in founder David Gens’ home to the company we are today. And we are doing our utmost to support not just the starting-up, but the continued livelihood, of small businesses.
Though most of our clients aren’t of the tech-forward type but rather the everyday, brick-and-mortar innovators of their own way in the world, we would be remiss if we didn’t recognize Vancouver Startup Week, which runs until the 30th of September and features events and panels including one (taking place tomorrow!) featuring our business partners at Progressa.
The philosophies behind starting small businesses and creating startups are vastly different, yet these terms are often thrown around interchangeably. Put simply, small businesses are most often driven by profitability and stable long-term value, while startups are focused on top-end revenue and growth potential.
One of the most important tasks for financial technologists such as those congregating at this year’s Vancouver Startup Week is to understand the differences between these models when their goal is to serve one market or the other. Startup Week is an amazing venue that allows these conversations to happen!
Small businesses can learn a lot from the startup marketplace despite their growth and long term planning processes being markedly different. Many startups are bringing new innovations to the small business workplace that can improve their efficiency and profitability over time: SMB owners should definitely check out some of the panelists, presenters and featured participants in this year’s Vancouver Startup Week!