Posted by: | 17th Nov, 2010

A True Entrepreneur Story

When I tried to think of a company that I deem to be “entrepreneurial”, there was one obvious choice that came to mind right away. This summer I travelled to the New York Stock Exchange, to watch the folks at Cash Store Financial ring the opening bell. By all definitions of the word, this company based out of Edmonton is entrepreneurial.

Take a look at their site here:

The reason I have knowledge about Cash Store financial is because the accounting firm my father works for does their audit. So when dad was invited to their listing on the NYSE, I tagged along.

Cash Store Financial was founded in 2001. It is a payday loan company and has grown to over 550 branches in the past 9 years. The founder saw a need for this type of loan, since banks were unwilling to lend on such a short-term basis, and he has evidently been very successful in this venture.

What makes this company entrepreneurial is the fact that it has tapped into a relatively unexplored market, it has created a substantial amount of wealth in a short amount of time, and it was a risky venture to start.

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