Visibility is at the core of business success. For any business looking to be successful, either having eyes or foot traffic is paramount to their success. In today’s digital age, the rise of social media or digital visibility has also contributed significantly.
In Canada, a useful and insightful partnership has just blossomed, in which the Federation of African Canadian Economics has partnered with Interac to create a powerful and interactive mapping tool.
This article aims to shed light on who the Federation of African Canadian Economics is, outline what Interac does, and explain how this benefits all people of Canada.
The Federation of African Canadian Economics
This is a non-profit organization that is based in the heart of Canada, in Montreal. It is often referred to as FACE, which is an acronym for the full name. It is an apt acronym that brings more attention to individuals who might not feel as seen as others. The mission of this federation is to drive the generation of wealth through strategic partnerships and connections.
This is done through economic resources and capacities, all whilst keeping an eye on operating as sustainably as possible. The vision for this federation is to be the catalyst for wealth creation and generation amongst black people.
The whole idea behind FACE is to create a space in which black-owned businesses can thrive. This is done either by creating spaces of information or a wealth of resources for black-owned businesses to peruse and research to increase their visibility. Or through creating smart and helpful partnerships, to give black-owned businesses more attention and have the spotlight focused on them for once.
Creating a space in which black-owned businesses in Canada feel that they have the knowledge, support, power, information and confidence to venture out into Canada and start successful businesses is at the core of the federation’s hopes and aims.
Looking at Interac
To understand the importance of the partnership between FACE and Interac, you need to know exactly what each of these two groups does. As seen above, FACE is a non-profit organization that creates crucial partnerships. Looking at what Interac does, will give more insight into how this has become an important partnership.
Interac is a financial brand that aims to give people better control over their funds. Many different industries accept Interac, ranging from homeware stores to casino platforms, as the site is known for its dependability and stability, so for punters who are looking to compare different casino sites that accept Interac, look no further than the safest and most reliable financial platform.
They operate within the Fintech industry, which is known to be one of the leading industries in the digital age. Interac is a Canadian interbank network that has one main goal – to connect or link various establishments, institutions and businesses to exchange funds electronically.
The partnership between FACE and Interac is starting to make a lot of sense, as whilst visibility is important for black-owned businesses, so is making the sales process as easy as possible, which is exactly what Interac aims to do.
Due to a lack of availability for black-owned businesses, Interac has pledged to become actively invested in supporting black-owned businesses and assist in demystifying the wealth of knowledge that is often not tapped into.
The Benefits
The emergence of this strategic alliance is massively positive for all in Canada. Like any clever partnership, it is wonderful to see two businesses, establishments or organizations come together to create something positive.
With this new mapping tool, people who are perusing the businesses around them and trying to find the next spot to eat, buy groceries, or find a nice new T-shirt will be able to access a tool in which the black-owned businesses are listed.
This will give consumers more insight and power into their supporting businesses. Those who wish to exclusively support black-owned businesses for a while, or forever, will easily be able to find these sources due to the interactive mapping tool.
This benefits the country of Canada as a whole, as it gives the people more information regarding their spending powers and it shines light on a group of people who are often overlooked when it comes to businesses. The increase in people’s shopping and spending will help the economy as a whole.
For the business owners, their income will increase, meaning that they will pay higher income tax, which is a benefit to the state. Plus, those spending will acquire new goods plus support the economy more with every purchase, again, resulting in an active and exchange-friendly environment.
The Importance of Strategic Alliances
Canada is known as one of the leading countries in the world. This is due to their quality of life, working hours and remuneration, level of medical care and general look of the country. One of the contributing factors to this is down to the occurrence of strategic partnerships, in which two Canadian establishments work together toward the greater good.
The fact that FACE and Interac have come together to create a wholesome, awesome and meaningful shopping and visibility experience regarding black-owned businesses is revolutionary. This plan must have been in the works for a long time, as anything this instrumental and impressive, has long and hard hours written all over it.
The hope is that these kinds of partnerships continue to grow and inspire others to do the same. Only time will tell what economic effects this partnership will have, but one thing is for sure: the people of Canada and the rest of the world wait with optimism.
