2M7 Announces 2022 “Forward Thinkers Scholarship” for Business and Finance Students in Canada

Most people will never know what it is like to have true financial independence. However, you don’t have to be one of them. By taking the right step today, you can build wealth that can allow you to have the passive income that you need to achieve financial independence. Here are five steps that you can take today.

1) Create a plan

The first thing that you need to do is have a plan. Figure out how much of an income you would like to have after you officially retired. The rule of thumb is that you should save up to 25 times your annual desired passive income. For instance, if you would like to get $50,000 annually in passive income, then you would have to build up to $1,250,000 in your savings by the time you are planning to retire.

2) Save and invest

To start building the wealth that you need for financial independence; you will need to save and invest. Don’t worry if you don’t currently have a high income. You can have time to work on your side. Through the magic of compound investing, you can build some incredible wealth by investing in stable, dividend-paying stocks. Aim to save at least 10% of your income each month to achieve your financial independence goals.

3) Live below your means

As you get older, you will likely increase your income. This can lead to “lifestyle creep” which can cause you to spend more. It is important to continue to live below your means so you can save and invest. The higher rate of your savings, the faster you can achieve financial independence.

4) Have an emergency fund

One unforeseen medical or life emergency can derail your financial independence plans. Therefore, you will want to have money set aside in case the unexpected happens. Some situations that may require emergency cash include a setback in your business, medical emergencies, or a natural disaster.

5) Study the economy

The economy plays a big role in how your business operates, the purchasing power of your money, and your income. Be sure to study the stock market, the economy, interest rates, and other factors that can play a role in your business and investing life. A great way to stay on top of the economy is to read top economic books and to read up on the latest economic articles on sites such as Bloomberg, CNBC, and The Wall Street Journal.

Keep your business on track and achieve your financial goals

Make sure that your business stays on track. With 2M7 Financial Solutions, you can receive the merchant cash advance that your business needs to stay on top of expenses. To learn more, please contact us. We are always ready to assist your business today.

And The Winner Is...

The results are in. This year’s winner of the 2M7 Forward Thinkers Scholarship is Claire O’Brien. As a member of The University of British Columbia’s Sauder School of Business, Claire was able to overcome stiff competition in this year’s contest. To do so, Claire not only demonstrated a strong performance in her academic journey thus far, but also clearly  communicated a keen interest to harness the knowledge she acquired to this point, to succeed in the world of business as she moves toward her professional goals. Claire exhibited the enthusiasm, and aptitude that 2M7 Financial Solutions’ CEO, Avi Bernstein was looking to reward, and intended to encourage with the creation of this scholarship opportunity.

“Each year, university students face multiple challenges in their pursuit of their academic goals; and these stretch far beyond the classroom. Post-secondary schooling is extremely expensive and places a significant financial burden on those who attend, which can potentially negatively impact the studies of these students as they see to the financial obligations that arise with school funding. That is why I made it one of my goals to help lessen this burden: these students have enough “on their plate”; I want them to focus on what they are paying to study not on how they are going to pay for it. Claire’s essay not only exhibited her potential for business success, but also showed me a character that the 2M7 team strives to promote when we do business. Congratulations, Claire.

The 2M7 Forward Thinkers Scholarship is an annual scholarship that is available for post-secondary students studying in a business related field; and offers the winner a reward of $2,500 so they can better manage the expenses of their schooling. This year we had another strong applicant pool; and we encourage those not selected this year, to re-apply during next year’s contest, for their chance to get a generous amount of financial assistance. We at 2M7 would like to thank all those who participated in this year’s contest; and we wish all those that did decide to vie for this scholarship all the best in their future endeavours.

As a celebration of Small Business Month, 2M7 Financial Solutions is proud to announce its team will be featuring its simple, flexible funding alternative at the 2022 Small Business Summit in Toronto to help more Canadian companies succeed. Since its inception, 2M7 has been dedicated to providing small business owners in Canada with a simpler and faster borrowing solution – providing the cashflow they need to run and grow their operations, even if they don’t qualify for traditional business loans.“

It’s getting exponentially harder for small business owners to qualify for loans from banks and other financial institutions, so 2M7 strives to provide the fastest and least complicated alternative to help support our Canadian entrepreneurs,” said Avi Bernstein, CEO of 2M7 Financial Solutions. “We believe it’s more important than ever to help small Canadian businesses grow, and our team is excited to take part in this year’s summit to meet the small business owners who are the true backbone of our economy.”

2M7 has helped thousands of businesses get funding to hire staff, buy inventory, repair equipment, expand to new locations, and more. Designed specifically for Canadian small business owners, 2M7’s merchant cash advance solution gets companies the funding they need – faster. Based around simple terms and flexible repayment structures, small businesses can easily get the cashflow they need, while having peace of mind that repayments are based on their month-to-month sales performance. Unlike banks, 2M7 provides its clients with fast funding, depositing funds directly into their bank accounts within 24-48 hours to invest almost immediately in their operations, however they see fit.“

In this fast-paced era, 2M7 has been proudly helping Canadian companies bring their businesses online to establish a global reach, as well as financing the digitalization of their processes in order to streamline operations, so our team is excited for this year’s summit theme of Embracing Digital Disruption,” said Avi. “With an increasingly competitive business landscape, and the ease of accessibility to a global market, we’re proud to give small businesses the competitive edge to grow even faster.”

To learn more about 2M7’s merchant cash advances for small businesses, please visit the 2M7 Financial team at booth #014 in the Metro Toronto Convention Centre, on Wednesday, October 26^th, or to see how much funding your business qualifies for, click here.

About the 2022 Small Business Summit

The Small Business Summit is an annual event in Toronto that celebrates Small Business Month and focuses on helping entrepreneurs grow and succeed. The summit will bring together start-ups, business owners, and experienced professionals for a day of networking. Hosted in Toronto, the third-largest tech hub in North America, the 2022 event will be themed “Embracing Digital Disruption” and feature major keynote speakers.