Charles Farag: The First Whitelabel Marketplace Technology Provider Specifically Tailored for B2B

BizBiz Global, founded in 2015, is the first whitelabel marketplace technology provider specifically tailored for B2B.

Their first product, BizBiz Share, was a business-to-business collaborative platform, synergizing local businesses by integrating the sharing economy into their business model.

This innovative and easy to use platform allows companies to unlock the full potential of their dormant assets (warehousing, equipment, machinery, office space, human resources, etc..) by sharing them with other companies in their vicinity. Dormant assets become revenue generating assets!

Tell us about yourself?

I have a background in finance and marketing. Before joining BizBiz Global I received a mandate from Vision Marine Technologies in 2018 to take the company to the next level. They went public on the Nasdaq in November 2020.

I got into this line of work for two reasons: BizBiz Global is making a difference in the world and to also this company to the next level.

If you could go back in time a year or two, what piece of advice would you give yourself?

We have two eyes, two ears and one mouth so we should be doing twice as much watching and listening than talking.

What problem does your business solve?

Businesses have dormant/idle assets and resources. Our platforms allows for those businesses to share the assets and resources with other businesses nearby.

What is the inspiration behind your business?

Our CEO, Elliot Daigneault, used to work in the Alberta Oil Sands when one day the truck he was using broke down. They had to wait 2 days for the mechanic to fix the truck, however, directly across the street at the other job site, the exact same truck was sitting there and that’s when the idea hit him, “why can’t we rent it out while we get ours fixed?”

What is your magic sauce?

We own 100% of our Intellectual Property. We have spent 7 years developing and improving our technology.

What is the plan for the next 5 years? What do you want to achieve?

We are currently the biggest in Canada and in 2022 we entered the United States market. Over the next 5 years we want to come all of the Americas and enter the European market.

What is the biggest challenge you’ve faced so far?

Many businesses are still fighting the new digital economy we are in. They are stuck in the old and traditional ways of doing business. Getting those people adopt the digital transformation is the biggest challenge.

How do people get involved/buy into your vision?

Since we white label out solution we want sectorial associations, chambers of commerce, prime contractors, cities and circular economy initiatives to launch their own marketplace.