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CONFERENCE ON FINANCING - MAY 2, 2017

On Tuesday May 2nd, I took part in the organization of a conference as part of a Meetup group for professionals and entrepreneurs. The topic was corporate financing. Although I specialize in marketing, I know that the financial aspect is a concern for many entrepreneurs and small business owners. Thus two complementary but very different aspects of corporate financing were discussed: crowdfunding as a financing option for start-up companies and factoring for ongoing companies who have accounts receivable (factoring requires receivables).

Our first presenter was Daniel Blumer, co-founder of Revols. Revols manufactures wireless custom-fit earphones that use a patented technology to fit the tip of the earphones to your ears in 60 seconds. He talked about how the idea came about, how they got the project off the ground and how they fundraised on Kickstarter. In 60 days they became the most successful crowdfunding Canadian campaign in history. They were able to generate a total of US $ 2,670,525. He also spoke about the pressures that such a level of engagement generates and also about the future projects and milestones for his product and company. A lot of interesting information was shared and we wish Daniel and his company the best of luck for the rest of their adventure. For more information on the company or to purchase the product in presales, visit Revols' website.

The other presenter was Mr. Alexandre Michaud, a lawyer by trade, who started his factoring business Onirade. Onirade offers financing by "purchasing" accounts receivable from its customers. Several options and mechanisms are involved in terms of financing and Alexander went through the particularities and benefits of factoring which is no longer solely used by large companies. Alexandre and Onirade are on a mission to democratize this form of financing by offering it to SMEs and entrepreneurs. If you are in business, and feeling financial pressure for your growth, or if the delay in payment by your clients is putting pressure on your cash flow, you have an option: factoring financing.

A big thank you to both of our presenters. If you want to find out what our upcoming presentations are, subscribe to our Meetup group.

If you have any questions or comments, do not hesitate to contact me.

 

Stéphane Elmaleh-Riel, B.Ed., MBA
Marketing consultant