Welcome to the enriching August edition of the CanadianSME Small Business Magazine. It is with immense pride and anticipation that we present a carefully curated collection of insights, guidance, and inspiration tailored to meet the evolving needs of SMEs and burgeoning entrepreneurs.
We remain committed to fuel growth, innovation, and resilience within Canada's economic backbone. The special focus for our August edition is on "Business growth development for SMEs & Young Entrepreneurship." Our diverse array of topics ranging from coping strategies for economic uncertainty to embracing innovation from within aims to engage, educate, and empower our readers.
This month’s issue includes articles about our exceptional winners from CanadianSME Business Awards, 2022 and features eminent personalities and insightful pieces by industry experts like Maciej Lipinski from KPMG Law LLP, Lynsey Walker from CHFA, and Paula Cruickshank from BDC, among others. The current edition offers a panoramic view of contemporary challenges and opportunities within the SME industry.
Our magazine also presents exclusive interviews with successful business people like Faye Pang, the Canada Country Manager for Xero, Shegun Otulana, Founder/CEO of Harmony Venture Labs (HVL), Joe Solly, National Consumer Sustainability Leader, Deloitte Canada, and Stephen Thomas, Executive Director (Analytics & AI Ecosystems) & Distinguished Professor of Management Analytics, Smith School of Business at Queen’s University.
Our spotlight for August is Nour Hachem-Fawaz, Founder and President of Build A Dream, as our Business Woman of the Month. Her inspiring work represents a progressive change in the Canadian entrepreneurial landscape.
Moreover, we are delighted to announce the upcoming CanadianSME Small Business Summit 2023 on October 23rd, focusing on "Empowering SMEs with AI: Innovation, Efficiency, and Growth." We encourage you to seize this golden opportunity to learn, network, and grow at this link: https://bit.ly/3NG87zv. Don't miss out on the fabulous chance to present your brand to the world. Our event will help you to stand out in a constantly competitive industry. Reserve your booth here: https://bit.ly/3PKLj4p
Our dedicated team aims at delivering value, fostering innovation, and enhancing your entrepreneurial journey. We are grateful for your trust and support and eagerly invite you to subscribe at https://bit.ly/3QslxlH for continued engagement with our empowering content.
Here's to a transformative reading experience and endless inspiration.
Warm Regards,
Shaik Khaleeluddin (SK)
MinisterNgannouncesfirst businessestobepartofGlobal HypergrowthProject “Canada’sgreateststrengthisour people ThroughtheGlobal HypergrowthProject,ourgovernment isworkingwithsomeofthecountrys mostpromisingbusinessestohelp themreachnewheightsaroundthe world,whilekeepingoperations,profits andjobsanchoredhereathome.”
Moresmallbusinesses neededfinancingoverthelast decade,butcollateral requirementsandinterest ratesmakeitharderand moreexpensive
Dr PhoneFixCEO,PiyushSawhney says,“We’redelightedour technicianscannowdoout-ofwarrantyrepairsusinggenuine Appleparts,sourcedfromApple, andApplediagnostics,toolsand processesforiPhonecustomers Ourgoalistomakesureall repairsaredonereliablyand safely Wewillalsocontinueto providepremiumnon-OEMrepair optionsforiPhoneandMacusers.”
–TheHonourableMaryNg,Ministerof InternationalTrade,ExportPromotion, SmallBusinessandEconomic Development
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Canada’sfastestInternetand Wi-Fi BellannounceditspurefibreInternet hasbeenawardedfastestin Canada1inOokla’sQ1-Q2Speedtest Awardsreport,thebiannualanalysis ofwirelineandwirelessperformance acrossthecountry Thereportalso ranksBellpurefibreWi-Fiasfastest inthecountry Withtheadditionof previousrecognitionwonbyBellsuch asPCMagBestMajorISPfor Gaming2andBrandSpark’sMost TrustedISP3,BellbecomesCanada’s mostawardedInternetservice provider
FlowVenturesRebrandstoFlow,ExpandingServicestoFuel InnovationandGrowthFunding
SMALLBUSINESS
Foralmosttwodecades,Flowhasworkedwiththefastestgrowingcompanies inCanada Ourexpandedofferingswillallowustohaveanevenbigger impactonthecompaniesweworkwith,”saidFlowfounderRaymondLuk
CanadianSME Small Business Magazine interviewed Faye Pang, the Country Manager for Canada at Xero, to delve into the details of the newly announced Xero Beautiful Business Fund. This initiative offers a significant financial boost to small businesses in several countries, including Canada During the conversation, Faye explained the different categories of the fund such as Innovating for Sustainability and Trailblazing with Technology, as well as the criteria for judging and the process for Canadian businesses to apply. She also spoke about the regional and global prizes, and how this fund, announced on Xero Day 2023, reflects Xero's commitment to celebrating small businesses. Lastly, Faye shared her long-term vision for the fund and how it will evolve to empower small businesses worldwide.
Faye Pang is the Canada Country Manager for Xero, the global small business platform with more than 2.7 million subscribers worldwide that's dedicated to making business beautiful Prior to joining Xero,
Faye helped launch the Uber Eats app in Toronto in December 2015, scaling the business from 80 restaurants on launch day to 20,000 partners by the end of her tenure.
Xero recently announced the Xero Beautiful Business Fund, offering a significant injection of cash to small businesses in several countries, including Canada. Can you tell us more about this fund and how it presents an opportunity for Canadian small businesses?
On Xero Day (July 6), a day that marked the 17th anniversary of Xero’s founding, we announced the Xero Beautiful Business Fund, a program to support small businesses across the world, including here in Canada
Globally, the total combined prize money for all countries is approximately $600,000 CAD, meaning the winning small businesses will be able to put a significant injection of cash toward accelerating the growth of their business, something we ’ re extremely passionate about
Through the Xero Beautiful Business Fund, we ’ re excited to support Canadian small businesses as they continue to scale their growth and take the next step in their evolution, whether that’s expanding their team, introducing new services, or reaching a larger group of customers At Xero, we know the tremendous value that small businesses play in our economy and understand how important it is that they receive support Through the Xero Beautiful Business Fund, we want to equip Canadian small businesses with the financial means to access more tools and support to keep growing
The Xero Beautiful Business Fund is open to all small businesses using Xero, as well as the business clients of Xero accounting and bookkeeping partners. How can small businesses in Canada participate in this fund, and what are the key dates and deadlines the should be aware of?
Open to all small businesses in Canada that use Xero, applications will open on August 23rd, and close on October 6th, 2023 Canadian winners, along with the other winners from each country, w be announced in November
The application includes a written form and a sho video submission For small businesses who wan to learn more and receive updates on the Xero Beautiful Business Fund, information, including ke dates, application requirements, and more can b found on our website at xero.com/beautifulbusiness-fund. Full terms and conditions includin eligibility will be available when entries open.
The fund is structured around different categories, such as Innovating for Sustainabili Trailblazing with Technology, Strengthening Community Connection, and Upskilling for the Future. Can you elaborate on the significance of these categories and how they reflect Xero's values and goals?
These categories reflect the values that we at Xero celebrate in small businesses and are the same ones that we know can make a world of difference when it comes to engaging with customers and employees in a meaningful way Sustainable innovation, tech adoption, an organic connection to the community, and forward-looking growth are areas that we know are essential to success
The categories that we ’ ve chosen to evaluate businesses on were selected because they are areas we feel define the small business of the future For example, we want to celebrate businesses that are innovating in their sustainability journey by finding greener ways to package products or reduce emissions because the net impact they have will be even more positive
The Beautiful Business Fund is also for you if your small business is looking to supercharge operations by digitizing and embracing emerging technology.
We are equally excited to see how Canadian small businesses are striving towards fostering stronger connections to their local communities, through philanthropy and social good
Finally, were eager to recognize small businesses that are upskilling for the future and are looking to deepen their access to training and development for themselves or their employees as they look to grow
How will the judging process work for the Xero Beautiful Business Fund? Can you explain the selection of regional winners and the subsequent evaluation by a global judging panel?
For each of the four categories, there will be a Canadian winner identified by a judging panel of five Canadian judges In addition, these Canadian winners from each category will then be evaluated by a global judging panel and the winner from each globally judged category will receive an additional prize!
It’s a fantastic opportunity for local small businesses to get well-deserved recognition from both local and global judging panels
Looking ahead, what are your longterm goals for the Xero Beautiful Business Fund, and how do you envision it evolving to further support and empower small businesses not just in Canada, but globally?
Apart from the regional prizes, there will be one global winner selected for each category. What additional benefits or opportunities will the global winners receive?
Recognized for their excellence, regional winners in the four categories will be evaluated by a global judging panel, with the winner from each category receiving a substantial additional global prize
The announcement of the Xero Beautiful Business Fund coincided with Xero Day 2023, which marked the 17th anniversary of Xero's founding. How does this fund reflect Xero's commitment to celebrating and supporting the success of small businesses?
The anniversary of Xero Day marks when it all started for us It’s our opportunity to connect with and celebrate our small business customers in Canada and around the world We chose to launch the Beautiful Business Fund on Xero Day this year because our goal of allocating funds to support small businesses in their future aspirations is a reflection of what Xero is all about, and why it started
Our Xero community thrives on the success of small businesses and we love having the opportunity to champion these small businesses as they look to achieve success and grow We endeavor to provide them with the tools they need to get the most out of their business and are always looking to give them as much of a streamlined process as possible, so they can spend more time doing what they love
What’s really exciting about this Fund is that it’s open to businesses in Canada, Australia, New Zealand, the UK, the US, Singapore, and South Africa We’re going to be able to spotlight various small businesses that are doing big things around the world Our long-term goal is to continue building awareness about the impact these organizations are having in their communities and seek to further their reach The louder we can make the voices of small businesses, the more we can show the world the importance of their contribution to society
In an enlightening discussion with CanadianSME Small Business Magazine, Tyler Anderson, CEO of Disruptive Edge, shed light on his company ' s work in driving innovation within Fortune 500 companies Despite their smaller size, Tyler posits that it allows for greater adaptability and quicker decisionmaking, vital for disruptive innovation They deftly manage innovation-related risks and resistance, fostering a culture of embracing change within their client corporations While complementing internal R&D teams with an outside perspective, Disruptive Edge sets itself apart from traditional consulting firms through its exclusive focus on targeted, futurefocused innovation, ensuring they remain an invaluable resource for established corporations seeking to navigate the constantly shifting business landscape.
As the driving force behind Disruptive Edge, Tyler has made a significant mark in Canada's business landscape by spearheading growth innovation for some of the largest North American corporations. His strategic acumen has been instrumental in Disruptive Edge's rapid expansion, positioning it as the fastest-growing firm in Canada This business growth prowess not only earned the firm the "Advisory of the Year" award but also personally brought him the accolade of "Canada's 2023 Young Entrepreneur of the Year" With his leadership, Tyler ensures clients stay at the vanguard of industry trends and technological shifts, solidifying their competitive edge in the market
Tyler Anderson CEO at Disruptive Edge
Being a comparatively smaller firm, what is it like to drive innovation for Fortune 500 companies? How does the scale of these companies impact your approach to innovation?
Think of it this way, we can't expect a cruise ship to turn like a jet ski That's just the reality of things The same goes for large corporations These are colossal entities, and to drive innovation within them, you ' ve got to understand their rhythm, their size, and the way they function
We've made it our mission to be the best innovation partner in the world for these big players We've come up with an approach that not just works, but shines specifically within these large corporate structures And you know what's great about being smaller? We're nimble and adaptive - just like a jet-ski in the sea of these Fortune 500 companies We offer a unique perspective on innovation that these behemoths often find refreshing and valuable
We understand that we ' re dealing with 'cruise ships' here Our role is to tweak their process and culture, not to overturn it So we aim to work faster, more efficiently and effectively, but always with respect for the size and nature of the company we ' re collaborating with It's all about bringing about meaningful changes while keeping the ship steadily moving forward And I must say, it's an exhilarating ride!
Many corporations have internal R&D or innovation teams Why would they choose to work with Disruptive Edge instead of solely relying on their internal resources? How does your company add unique value in the innovation process?
Disruptive innovation can be risky and often meets resistance, especially in large established companies. How does Disruptive Edge help its clients manage and mitigate these risks?
At the heart of any strategy, there lies a fundamental question: what is the organizations primary goal? When it comes to innovation, the strategy must not be an isolated concept; it should be deeply intertwined with the corporate strategy. This strategic alignment ensures that all efforts are contributing to the overarching objectives of the organization
While corporations often have strong internal R&D teams, external partners like us, Disruptive Edge, provide additional value We're not here to replace, but to complement and accelerate your team's efforts We bring an outside perspective, expertise, and agility to fast-track innovation Plus, our involvement can be easily scaled up or down depending on your needs, offering a flexibility that's not always feasible with internal teams Essentially, we integrate with your team to enhance and expedite the innovation giving you the ability to run it long after we ' re gone
Why would companies choose us over any traditional consulting firms? How do your offerings differ?
Disruptive innovation is the most challenging form of innovation to execute successfully Many organizations do not need to explore disruptive innovation right away Often, there are many 'low-hanging fruit' opportunities that offer much more near-term benefits Disruptive innovation should be carefully considered and generally pursued only when the organization's business model is experiencing significant and rapid decline, and if they do decide to go down that road it requires special process and separation from core. That’s why despite our name we are specialized in all types of innovation and tailor an approach suited for the client.
At Disruptive Edge, we differentiate from traditional consulting by our specialized focus on innovation and the development of revenuegenerating products We provide hands-on collaboration with your team, crafting solutions tailored to your unique needs Additionally, we strive to foster an innovative and collaborative culture within your organization In essence, we don't just offer consultancy; we become dedicated partners in your growth and innovation journey Also, I know it’s cliche but our team is lit
In a recent interview with CanadianSME Small Business Magazine, Faye Pang, the Country Manager for Xero in Canada, shared insights on Xero's collaboration with FIFA Women's Football The discussion spanned across the rising involvement of Canada in soccer, her personal connection with the sport, the crucial role of community soccer clubs, and Xero's commitment to supporting women ' s football. The conversation painted a clear picture of Xero's engagement with the soccer community, underlining its commitment to fostering diversity and inclusion in the sport.
Faye Pang is the Canada Country Manager for Xero, the global small business platform with more than 2 7 million subscribers worldwide that's dedicated to making business beautiful
Prior to joining Xero, Faye helped launch the Uber Eats app in Toronto in December 2015, scaling the business from 80 restaurants on launch day to 20,000 partners by the end of her tenure
Tell us a little bit about the Xero and FIFA Women’s Football partnership:
Were incredibly proud to be the Official FIFA Women’s Football Partner which is especially energizing with the FIFA Women’s World Cup 2023TM currently underway in Australia and New Zealand However, this relationship extends beyond the tournament with Xero and FIFA working together on long-term women ’ s football development initiatives These include education courses that help administrators in football better understand their club’s finances as well as Coach Education Scholarships for aspiring female coaches
Over the next few years, you’ll see more from the two brands as we work together towards shared ambitions and values – which include helping women and girls succeed and seeing communities around the world prosper
Canada’s participation in soccer has grown over the years, what does this look like now?
Often when people think of Canada and its national sport, they think of hockey In recent decades, however, that has been changing as the world becomes more global and Canadians’ sports interests have evolved
In 2015, Canada hosted the Women’s World Cup which was the most attended FIFA Women’s World CupTM with 1 35 million spectators Since then, the Canadian Women’s team has climbed the international rankings and sits squarely at 7th in the world as the FIFA Women’s World Cup 2023TM has kicked off in New Zealand and Australia
Now, soccer is the largest participatory sport in Canada and is considered the fastest-growing sport in the country There are nearly 1 million registered Canada Soccer active participants in Canada within 1,200 clubs that operate in 13 provincial/territorial member associations This amounts to 350,000 women & girls playing soccer in Canada which is the third largest participation in women ’ s soccer behind Germany and the USA - this is so exciting
What has been your own journey with soccer?
I played soccer for many years as a young girl- it had a huge impact on me Through that experience, I felt firsthand the importance of working with others to accomplish something together, the value of hard work and practice, and the power of believing in yourself If I take a look at how I approached young adulthood, my career, and now what I focus on as a parent, the same values have flowed through everything I wouldn’t be who I am today if I hadn’t been a young athlete shout out to the Mississauga Falcons Soccer Club!
What is the importance of community soccer clubs?
Sport is about more than just winning and losing It's about community, purpose, and feeling like you ' re a part of something bigger than yourself Sport has the unique ability to inspire and unite people Many of Canada’s football clubs are small businesses themselves, supported by a community of other small businesses, from local sponsors to catering to transportation, maintenance, and more. When a football club succeeds, it has a positive ripple effect on the small businesses and people that support it.
Why is supporting women ’ s football important to Xero?
Supporting Women’s soccer allows us to foster participation and the creation of community connections which are so important The lessons I learned by playing a team sport as a child have driven how I approach many areas of my life and I believe it’s incredibly important to continue supporting and participating in community sport If we look at what it takes to run sustainable teams, there’s a lot involved and it’s our hope that through this partnership we can drive awareness around the game whilst also focusing on support for the operations element of community clubs
Our Better Numbers program provides 25% off our accounting platform and an educational five-part course to help those that run a club’s finances set their clubs up for success. From understanding profit and loss to preparing budgets and controlling cash effectively, our Better Numbers Program aims to provide a little bit of extra support for clubs
Canada’s economy has been sending some mixed signals lately. Inflation rates are slowing, and the prospect of a ‘soft landing’ –meaning cooling price hikes without sending the economy into a recession – remains a possibility Whether or not the economy experiences a recession, many business leaders are laserfocused on managing costs and adopting a prudent path forward
For employers, planning for a range of possible economic and business outcomes is key to lowering risk, riding out current challenges, and capitalizing on opportunities that the year ahead may bring Depending on labor needs, employers can choose from a variety of approaches that take into account long-term targets, business structure, and level of risk tolerance Consider some common and not-so-common approaches:
By Maciej Lipinski, KPMG Law LLPAlthough a workforce reduction can be a necessary measure to preserve financial resources and help refocus business priorities, it can also present significant legal and business risks
Employers need to weigh these risks and the net impact of reducing headcount against factors such as the cost of rehiring, particularly in a tight labour market. If your company chooses this path forward, seek out the benefit of legal advice and plan carefully Significant legal liabilities involving termination and severance payments, wrongful dismissal claims, and statutory mass termination obligations can be incurred or possibly mitigated, depending on your approach Legal claims often arise from how employees perceive their employer handles these matters Given these risks, there may be other ways to reduce or avoid layoffs entirely, such as automation to increase operational efficiencies, flexible work arrangements, reduced benefit spending or other measures described below
Where a workforce reduction is a risky or unrealistic option, cost savings can be achieved by changing compensation structures This may involve temporary wage decreases, bonus reductions, or deferrals, and generally replacing high-cost forms of compensation with low-cost or deferred compensation. Ensuring employees receive plenty of advanced notice and thoughtful communications to build support and buy-in can play a crucial role in building long-term team cohesion It can also help to mitigate legal risks resulting from claims of constructive dismissal or discrimination by affected employees
Employers can benefit from the flexibility and skillsets of contract workers on an as-needed, project-specific basis and without being subject to certain obligations arising from employment standards legislation, such as hours of work, overtime, and termination entitlements However, employers that engage contractors must be prepared to provide this workforce with greater flexibility and freedom than would apply to their employee workforce For example, while it’s typical for an employee to perform work as scheduled and assigned by their employer, an independent contractor generally has greater freedom to determine their own schedule and complete tasks Also, mischaracterizing employees as independent contractors can result in legal liability, so seek advice before incorporating contractors into the workforce
Significant cost-savings and productivity improvements can be realized by integrating technologies into business operations A recent KPMG in Canada survey of mid-sized business found that 85 per cent of leaders are looking to improve productivity by digitizing their operations, automating and deploying other technologies By leveraging technologies and adopting new ways of working (e g remote or hybrid work), employers can take the opportunity to modernize their workforce and workflow management Such changes must be approached with appropriate caution and risk mitigation measures to avoid inadvertently triggering a claim of constructive dismissal or discrimination by affected employees
Economic downturns don’t last forever and don’t uniformly impact all businesses and industries Leaders who can adapt to change are more likely to spot growth and investment opportunities When this translates into new staffing needs, your company can hit the ground running by developing a deliberate employment strategy that includes competitive compensation packages and employment contracts with the flexibility needed to pivot and scale-up quickly.
No matter which strategy you take, communicating directly, clearly, and consistently with your employees should always be a priority Employees are aware of these uncertain economic times and recognize that the world of work is changing An effective and sustained communications strategy can go a long way toward mitigating legal risk and reputational damage When employees perceive their employers are fair and transparent, employee morale and productivity can remain high and put your business on a positive path to future growth
of Harmony Venture Labs (HVL)
Shegun Otulana is the founder/CEO of Harmony Venture Labs (HVL), a venture studio that owns and operates a family of technology companies. He also serves as the CEO of Copysmith AI, a startup that uses artificial intelligence for content creation. Copysmith’s products include Describely, Rytr.me, and Frase.io.
Founder/CEO
Our Media Host, Shiraz Siddique, brightens every conversation with his insight, intellect, and intensity. As a serial entrepreneur and sought-after guest speaker, his passion is to help companies win more deals and generate greater influence. For the past twenty years, Shiraz has held Senior Sales Leadership roles for Inside and Direct Sales teams and Sales Operations. His methodology of Calibrating, Calculating, and Communicating your message, has led to record-setting performances that Outperform, Outpace and Outsell competitors.
Everyone will tell you that everyone has to be at Collision and sure enough, thousands showed up. Everyone had their own objectives and potential outcomes but for me, as a first-time Collision attendee, I was able to sift through and land on two meaningful elements; the customers we serve and the incredibly innovative ways in which social responsibility is embodied in the technology leaders of our generation.
I had the opportunity to spend time with several profiled guests but the privilege was all mine to sit down with Shegun Otulana, the CEO of Copysmith ai He’s had a successful billion-dollar exit but you would never know as he walked the show floor with his wife, blending in with everyone else No entourage of handlers, because he is still just like you and I – full of ambition to grow his next mission, Copysmith ai the right way – with integrity
In the midst of all the grandeur that Collision is, Shegun’s humility minus the hype was my highlight and it will certainly be worth your time to check out Copysmith ai They are helping countless businesses craft the necessary language to position and promote their products/services to their audiences.
Shiraz: After your first exit with TheraNest/Therapy Brands, how did you handle the sometimes unspoken elements like the emotional attachment as you birthed and then sold your first business baby?
Shegun: Oh, there is a part of you that never really separates if you love the team and customers For me, we began the separation process before we sold My role shifted to only a board role about 9 months before the final sale to KKR. I’m no longer involved in any formal capacity, although my relationship continues through random conversations with team members and the new CEO on occasion
Media Host and Consulting Editor at CanadianSME
Shiraz: You could have taken your money and set off into the sunset. But shortly after, you launched Harmony Venture Labs and you remain active…
Shegun: It’s more than money, though I enjoy entrepreneurship, and it’s what I want to do with my life As for the money, yes, I believe a company should pursue making money Nothing wrong with earning money The questions are: What are you willing to do to get your money? You want to have peace of mind at the end of the day The second is, what are you going to do with that money?
Shiraz: Much of what I found out about you lent to concepts of leadership
Shegun: Leadership drives everything It goes beyond what we put on a piece of paper somewhere It is all about how it shows up in and influences the culture of an organization: rituals, rewards, punishments, and celebrations.
What is AI's negative and positive impact in and to my business?
Is the timing right to go all in? What if it is too early?
For example, we have Describely ai for e-commerce businesses For example, applications like Describly clearly make a difference for our e-commerce marketing and content teams Our solution, Frase io, helps individuals and teams scale their SEO content quickly So consider the application, and analyze whether there are ways the AI solution can make an impact, get attention, and tell your story in a way that ends with customers buying what youre selling
Shiraz: In your Let’s Build series, common themes you discuss are character and mental fortitude…
Shegun: First, every business owner needs to know that you do not have to be like or build your business like others So context matters with any advice Make your business what you want it to be, guided by healthy contentment
Whatever business you are building, you need the right personality, skill sets, and mindset to get it to where you want it to be
Shiraz: This entire conference is buzzing with AI this or AI that What considerations should businesses evaluate?
Shegun: Different businesses are at different stages, so first, they have to ask themselves some questions:
Acquire or hire the skills required to build your business and build the mental toughness required The lack of skills, mental fortitude, or the right personality leads to a significant time tax you have to pay to get what you need to get to where you want to go
Shiraz: Now, currently at Copysmith.AI, you are solving the challenge of skill, time and knowledge as you help businesses create the necessary language to represent their product/service Where and what is that tie with time and knowledge?
Shegun: Your time to deliver on your goals is elongated when you do not have the knowledge to get there So as you constantly gain knowledge and skill, you shrink the time to deliver on your objectives Our job at Copysmith is constantly developing the knowledge and skills required to accomplish our objectives. In doing that, we become the solution our customers trust and buy to create meaningful value for their businesses. We grow, and they grow.
CanadianSME Magazine recently had an enlightening conversation with Roi Ross, SVP & President, Small and Medium Business (SMB) at TELUS Business to discuss the #StandWithOwners program, a key initiative for Canadian small businesses.
While explaining its application process, the significant grand prize packages, and the extended benefits for winners, Ross shares TELUS’ motivation for launching the program annually, recognizing the vital role of business owners in fueling innovation, economic growth, and social change
And while the pandemic is now behind us, we are continuing our commitment to supporting Canadian small businesses through our #StandWithOwners program In fact, since 2020, we ’ ve committed $3 5 million through funding, advertising and technology to enable these owners to thrive
Can you provide an overview of the #StandWithOwners program and its significance for small businesses in Canada?
#StandWithOwners was initially our response to the pandemic, where we pivoted our marketing dollars to put them in the hands of business owners We wanted to ensure these businesses were supported at a time where they were hit the hardest
What motivated TELUS to launch the fourth annual #StandWithOwners program? How does TELUS see the role of business owners in driving innovation, economic growth, and social change?
With each year, we ’ ve re-defined the focus of #StandWithOwners.
This year, we ’ re celebrating game-changers Business owners that are driving innovation in their field, serving their customers and communities in meaningful ways and using technology to differentiate and grow their business
We know that innovation – both big and small – exists in every field and we want to recognize the critical role they play in fueling innovation, propelling economic growth and driving social change
Could you explain the application process for businesses interested in participating in the #StandWithOwners program? Are there any specific criteria or requirements they need to meet?
We’ve kept our application process simple and easy to complete
To help make your application stand out, there are really a few key things we’re looking for:
Every business has a story Tell us how it started Be sure to let your passion shine through Explain how your business is changing the game and what you are doing differently from your competitors
Share with us how you ’ re using technology to differentiate and grow your business.
Last, we are looking for owners that are contributing to their community in a meaningful way, beyond the day-to-day running of their business
What are the grand prize packages that TELUS and its partners are offering? Can you highlight some of the key components and benefits for the winners?
This year, we have five grand prize packages, valued at over $125,000 each, including $50,000 in cash, $50,000 in advertising, over $25,000 in technology and business services from TELUS and our partners, a round-trip package to Vancouver to celebrate their achievement, as well as access to customized mentorship through the TELUS advisory panel.
In addition, 15 finalists will each receive $20,000 in funding, technology and additional prizing
In what ways is TELUS leveraging its technology to support the Canadian business community and enable them to do things differently? Are there any specific tools or solutions that TELUS provides to help businesses grow and differentiate themselves?
As a global communications technology leader, TELUS empowers businesses to thrive in a digital world Our powerful, world-leading networks and technology keep businesses connected to the things that matter most to them, their business, team, family and community
From internet and smartphone plans, to security and Managed IT - we see technology as a path to growth and differentiation for owners, leaders and teams.
Looking ahead, what can we expect for this year’s #StandWithOwners winners? Are there any plans or initiatives in store for them beyond the prizes they receive?
This is the largest prize package that we ’ ve offered to date We’ve seen first hand how access to funding, advertising and technology can significantly impact a small business Additionally, we understand the incredible value that recognition and exposure from winning a program like #StandWithOwners can provide to business owners
That’s why we see #StandWithOwners as the beginning of a partnership with TELUS, where we work with small business owners to understand the best ways we can help further support their growth
Executive Director (Analytics & AI Ecosystems) & Distinguished Professor of Management Analytics, Smith School of Business at Queen’s University
In a recent conversation with CanadianSME Small Business Magazine, Stephen Thomas, Executive Director (Analytics & AI Ecosystems) and Distinguished Professor of Management Analytics at Queen’s University's Smith School of Business, delved into the complexities of integrating generative AI tools in businesses. He addressed companies' concerns over data security that are leading some to ban such tools, like ChatGPT, from their workplaces. Stephen also provided insightful guidance on striking a balance between embracing generative AI tools and exercising caution He identified three key elements crucial for the successful adoption and implementation of these tools and elaborated on their importance Further, he offered solutions for addressing data security and privacy concerns, emphasizing the need for appropriate safeguards Lastly, Stephen offered recommendations and key principles for leaders considering the integration of generative AI tools into their organizations
Dr Stephen W Thomas is an adjunct faculty member at Smith School of Business at Queen’s University in Kingston, ON, Canada He is also the Executive Director of Smith's Analytics & AI Ecosystem He was named the Professor of the Year in the MMA program in 2017 and 2018
Dr. Thomas holds PhD, MSc, and BSc degrees in Computer Science. His main interests are databases, data analytics, and natural language processing. His research has been published in IEEE Transactions on Knowledge and Data Engineering, IEEE Transactions on Software Engineering, Empirical Software Engineering, and others. He is a recipient of the Scotiabank Scholar research grant.
Many companies have decided to ban generative AI tools from their workplaces due to concerns over data security. Why do you think some companies are taking this approach? What are the main concerns they have regarding generative AI tools like ChatGPT?
The primary reason companies have banned generative AI tools like ChatGPT is a concern over information safety and security Companies are concerned that employees will include confidential or sensitive data or code in their questions Since the questions are sent to OpenAI's cloud servers and stored forever, and because OpenAI owns the questions and can use them however it pleases, companies risk losing secrets and breaching privacy regulations For example, OpenAI might use previous questions to train the next version of ChatGPT, at which point users can obtain a company ' s sensitive data by prompting ChatGPT the right way In addition, OpenAI could sell the questions --- sensitive data and all --- to the highest bidder
Another reason is the well-known hallucination issue The text that ChatGPT generates is sometimes factually incorrect but stated in a confident and persuasive tone Companies that use ChatGPT in any customer-facing application risk embarrassment, liability, and worse Years of research are still needed before ChatGPT can become mission-critical for any systems that must be "correct "
Finally, many companies have banned ChatGPT due to OpenAI's lack of transparency OpenAI has not shared any details on how ChatGPT was trained, what data sources were used, what the internal architecture is, what manual guardrails have been installed, and what testing has been performed Without these details, many organizations struggle to justify its use in business-critical scenarios
Balancing the embrace of generative AI tools with the exercise of caution is crucial. Could you explain how business leaders can strike this balance effectively? What are the key considerations they should keep in mind?
First, businesses must strongly commit to testing AI tools before deploying them Second, businesses must be realistic about the downsides of these tools, exciting and novel as they are, and avoid deploying them in inappropriate scenarios Third, businesses must invest in educating their leaders on how the technology works, what the best use cases are (and arent), and how to most effectively use these tools
In your opinion, what are the three key elements that business leaders should focus on to successfully adopt and implement generative AI tools like ChatGPT in their organizations? Could you elaborate on each of these elements and why they are important?
In short: education, guidelines, and communication.
-Organizations should invest heavily in training and education to build foundational understanding and capacity Venues to consider include short online courses, week-long workshops, and all the way up to full master's degrees in some cases Training should occur at all levels of the organization: front-line workers, middle managers, and senior leadership The better this technology is understood, the less chance it will be used incorrectly -Organizations should develop clear internal best practices guidelines to avoid each employee/department figuring these tools out in isolation These guidelines must be built in an agile fashion with low barriers to change as the technology progresses and use cases vary The guidelines must include a focus on ethics and responsible use
Organizations should communicate expectations around the use of these tools For example, organizations should list applications and scenarios where the tools are allowed and disallowed Organizations should also list which data sources are allowed to be used to fine-tune the AI tools, and which aren't
Let's talk about the concerns surrounding data security and privacy with generative AI tools
How can organizations address these concerns and ensure the appropriate safeguards are in place when using such tools?
Currently, there are only two ways to address the data security and privacy concerns: either don’t use these generative AI tools at all or be sure that no sensitive data is included in any prompts that are sent to these tools
Finally, do you have any advice or recommendations for business leaders who are considering the adoption of generative AI tools like ChatGPT in their organizations? What key principles should guide their decision-making process and implementation strategy?
Generative AI is in its infancy and changing rapidly While the desire to unlock value from these tools is enormous, the unknowns and risks are even more significant. Using generative AI at this point for any mission-critical systems is still premature for most organizations The primary use cases that currently would benefit organizations the most, with the least risk, involve creativity, brainstorming, and exploring “what-if” scenarios, so long as employees are careful with what information they give the generative AI tools
Since the pandemic hit, Canadians have been more concerned about proactively managing their health The growing appetite for healthy living offers an enormous opportunity for Canadian brands to tap into the natural, organic and wellness market But with growing concerns around inflation, Canadian consumers are also becoming more mindful of what they put their dollars behind So how do brands compete to get inside shoppers' baskets during these high-priced times?
As Canada's largest trade association dedicated to all things natural, organic, and wellness (NOW), we are committed to helping our members get more healthy living products into the hands of more Canadians One of the ways we help our members excel in this industry is by arming them with relevant Canadian data.
To help our community navigate inflation, we commissioned a study to determine how inflation impacts Canadian consumers and their shopping choices We conducted our latest study in February 2023, seeking specific insights into how inflation affects different categories of food, beverage, and natural health products (NHPs), like vitamins and supplements We were searching for answers to questions like 'How do natural, organic and wellness (NOW) products fare compared to conventional food and beverages?' 'How are consumers shifting the shopping across channels?' and 'Are consumers shopping for organic in more discount banners?'
83% of those surveyed said they were looking for a deal when shopping for groceries and supplements Take a look at your yearly promo plan and ensure you are maximizing opportunities to offer your customers a chance to save To score a deal, those surveyed said they are checking flyers more, clipping coupons, and shopping at the stores that offer them the lowest price Looking farther down the line, are there opportunities for alternate packaging formats, materials, or internal processes where you can reduce costs without impacting product quality or integrity? Are there any opportunities where innovations or technology can also help reduce costs?
When Canadian consumers shop for better-for-you foods, snacks and supplements, products promoted as being "free from chemicals" have really resonated Brands and retailers can highlight products that are free from chemicals and add third-party certifications to add validity and emphasize this attribute.
When we asked what matters most to Canadians, we found consumers are seeking products that can please everyone in the family Can you create family-size packaging or bundle or highlight family-friendly features through your marketing or merchandising?
Whether your business is in food, beverage or natural health products, inflation is seriously impacting how Canadians shop for your products Inflation has impacted each category quite differently, and understanding the nuances will help your company respond in the best way forward If you want to uncover more insights into how inflation has impacted the Canadian shopper and how your business can adapt to this new consumer, head to chfa ca and dig into the data with our sample report CHFA Members get access to our full reports – join our community to get more insights
Jennifer is a talented chef and a former contestant on the popular cooking competition show, MasterChef Canada. She is known for her innovative and creative culinary skills, as well as her ability to stay calm and focused under pressure Since appearing on the show, Jennifer has continued to pursue her culinary dreams, working as a private chef and catering events across Canada She is known for her commitment to using fresh, locally sourced ingredients and her dedication to creating unique and unforgettable dining experiences for her clients.
JenniferCanadianSME Small Business Magazine had an enlightening discussion with Jennifer Baglione, founder of Made to Order Italian Food & Gourmet Desserts and a MasterChef Canada finalist. She opened up about her journey as a female entrepreneur in the competitive hospitality industry and how her experiences equipped her for her partnership with Tre'dish. Tre'dish, a platform that empowers local food entrepreneurs, has had a significant impact on her business and brought unique opportunities. Jennifer also shared her thoughts on the revolutionary role of technology platforms like Tre'dish in transforming the hospitality industry and supporting small, local food businesses. A staunch advocate for increasing female representation in the hospitality sector, she also discussed how this diversity could enrich the industry and encouraged more women to venture into food entrepreneurship
As a remarkable female food entrepreneur and MasterChef Canada finalist, can you share a bit about your journey in the hospitality industry, especially as a woman navigating this competitive field?
Traditionally as females, we are raised to believe that a woman ' s place is in the kitchen, but when you get to these commercial spaces/ kitchens, you quickly learn how male-dominated these spaces are It was a surprising revelation that challenged the expectations ingrained in me Regardless of my qualifications and achievements, I quickly realized I needed to prove myself and earn my place in every kitchen I set foot in. This journey has demanded relentless hard work and unwavering dedication, constantly testing my resilience Overcoming the challenges I encountered not only strengthened me as a chef but also shaped me into a stronger individual Each hurdle provided a valuable lesson, teaching me resilience, adaptability, and the importance of breaking down gender barriers In this male-dominated field, I have not only defied societal expectations but have also paved the way for other aspiring female chefs
It has been a wild and unpredictable ride, but I am immensely grateful for the opportunities to face these obstacles head-on They serve as stepping stones to accept further challenges and embrace the continuous process of learning and growing
How have your experiences in MasterChef Canada and in the hospitality industry prepared you for your partnership with Tre'dish?
MasterChef Canada allowed me to work on and refine my time and stress management These are two aspects that you dont only encounter with your work but experience in every part of life Anytime there were last-minute changes, high volume in orders, or simply becoming overwhelmed, I was able to use the skills learned on MasterChef Canada to keep up with customer demand
Moreover, the show exposed me to highpressure situations, constantly pushing me outside of my comfort zone As a result, I developed strong stress management skills to thrive in such an environment The demanding challenges, unexpected twists, and the pressure of being evaluated by esteemed judges added immense stress. However, I quickly realized that succumbing to stress would hinder my performance. Through the guidance and mentorship provided on the show, I learned various techniques to stay composed, focused, and calm under pressure
The skills I refined on the show have been particularly valuable in customer-oriented environments, such as restaurants or food service establishments When faced with sudden rushes or a high volume of orders, I can draw upon my time management techniques to ensure efficient service and timely delivery Additionally, my enhanced stress management abilities enable me to remain calm and composed, ensuring quality in every dish I prepare and providing excellent customer experiences even in demanding situations Now, I have been able to take these skills with me to Tre’dish, becoming a better chef for my customers
Tre'dish is positioned as a platform that empowers local food entrepreneurs to share their authentic dishes and stories. How has partnering with Tre'dish impacted your business, and what unique opportunities has it presented?
Tre'dish has been an incredible asset to my business, providing practical assistance and restoring my hope and confidence to continue on my entrepreneurial journey. As a food entrepreneur, operating in a risk-prone environment becomes second nature Constantly navigating economic fluctuations, seeking out the right opportunities, and creating customer demand is no easy task However, Tre'dish is a powerful ally, equipping businesses with a comprehensive arsenal of resources to elevate their operations It is such a unique position to be in because you have access to such large-scale opportunities, networks, and so many open doors all at the touch of your fingertips
One of the standout features of Tre'dish is its fullservice approach The platform seamlessly integrates a SaaS platform on the back end, enabling businesses to manage and process detailed order information efficiently This streamlined system optimizes operations, simplifying tasks such as order tracking, inventory management, customer communications, and much more By automating these processes, Tre'dish frees up valuable time and resources, allowing me and other chefs to focus on delivering exceptional products and services. One feature that I think is very important to highlight is Tre’dishs access to a buying group so that food entrepreneurs can save money and increase profitability Going beyond just providing necessary tools to help aid businesses, Tre’dish takes it a step further to care for the profitability of everyone ' s business on the platform
Tre'dish goes above and beyond on the marketplace front by actively driving customer traffic to businesses Through strategic partnerships, targeted marketing campaigns, and a robust online presence, Tre'dish attracts a diverse range of customers to the platform It has been a dream working with Tre’dish; they really want businesses and chefs to thrive and have created a platform that does just that
How do you see technology platforms like Tre'dish revolutionizing the hospitality industry, particularly in supporting small and local food businesses?
Platforms like Tre'dish are vital in revitalizing the passion and love that once thrived in the hospitality industry With fewer new generations entering the industry, Tre'dish acts as a catalyst, inspiring individuals to pursue their goals and dreams within the culinary world Tre'dish offers a renewed sense of confidence to aspiring food entrepreneurs by providing a supportive and empowering environment
One of the significant contributions of Tre'dish is its comprehensive approach to business development The platform serves as a valuable checklist, guiding and educating businesses on the intricacies of running a successful venture It offers a wealth of resources, from financial planning and marketing strategies to operational insights and customer engagement techniques By consolidating this knowledge into an accessible format, Tre'dish empowers newcomers and existing businesses to navigate the industry more easily and efficiently.
The impact of Tre'dish extends beyond practical assistance It fosters community and collaboration among its members, allowing them to connect, share experiences, and learn from one another Tre'dish helps entrepreneurs overcome the challenges and obstacles that often accompany starting or growing a business by providing a supportive network.
You are a strong advocate for increased female representation in the hospitality sector. In your opinion, how does this diversity influence the food and hospitality industry? And how can we encourage more women to take the leap into food entrepreneurship?
If women constantly focus on uplifting each other and showcasing the wins and the blueprint it takes to succeed as a food entrepreneur, it will encourage more women to join As mentioned, it is a maledominated industry, and a few strong women can build a village We must really work to mentor one another and share wins and challenges along the way
Even as the world shifts toward more gender equity and eliminating gender disparity, there still remain numerous roadblocks in realizing the real potential of accepting women in the workforce This is partly due to the fact that many discriminatory elements exist to a certain extent even today! To combat this, one woman entrepreneur has taken it upon herself to stamp out these aspects in the Canadian business community and pave the way for women to enter this realm and gain financial independence with success.
Nour Hachem-Fawaz, the founder and President of Build A Dream, has emerged as a transformative force. She is dedicated to advancing diversity and inclusion initiatives, which has rightfully earned her the honour of being named CanadianSME Small Business Magazine's “Business Woman of the Month”.
The inclusion of women in the workforce has played a crucial role in driving economic growth and development Women have consistently demonstrated their abilities as leaders, innovators, and problem solvers in a wide range of industries Despite the potential that young women have, there are still significant barriers that prevent them from pursuing careers in skilled trades, STEM fields, emergency response, and entrepreneurship These barriers not only hinder the potential of women who aspire to succeed, but they also prevent Canadian businesses from benefiting from the innovation and diversity that can drive progress in different sectors
Nour Hachem-Fawaz is an experienced workforce advisor, mentor, and influencer who has dedicated herself to inspiring young people and questioning conventional career expectations With more than 13 years of experience, she has developed a profound understanding of the workforce landscape and the importance of making well-informed career decisions Nour's dedication to empowering women extends beyond her professional life, as it is also influenced by her personal experiences
Founder and President of Build A Dream
Inspiring A Real Change in the Canadian Entrepreneurial Panorama Through Build A Dream
Nour gained valuable insights into the challenges faced by women in the workforce by witnessing her mother's journey of triumph in establishing and growing a successful auto parts company in a male-driven field Her exposure, along with her work with other nonprofits, inspired her to conceive and establish the organization now recognized as Build A Dream
Build A Dream is a national non-profit organization that was founded in 2014 in Windsor, Ontario Our mission is to promote diversity and inclusion initiatives in all industries The initiative is motivated by a strong belief in the transformative potential of diversity Its primary goal is to ensure that everyone has equal opportunities to succeed. The organization actively engages in collaborations with speakers, community leaders, and businesses to encourage female students, women, and marginalized communities Build A Dream empowers young women by providing them with confidence and the necessary skills to fill workforce gaps and approach problem-solving from fresh perspectives This is achieved through virtual conferences, career discovery expos, workshops, and hands-on learning programs
Connecting businesses and schools directly is a key feature of the Build A Dream methodology In order to address the gender gap in the workforce, the group promotes education and career development among its members Businesses are encouraged to participate in diversity and inclusion programs because to Build A Dream's emphasis on offering tools, training, and best practices, which in turn creates a more welcoming workplace.
Nour Hachem-Fawaz is an actual workforce disruptor because of her dogged commitment to changing the conventional wisdom about women in the workplace Her dedication to promoting novel approaches that produce a competitive workforce is indicative of her enthusiasm for leading diversity and inclusion efforts Nour brings a well-rounded perspective to the work of Build A Dream thanks to her education and experience She has a BA in sociology and an MBA
Through her relentless efforts, Nour is leading the charge in closing the workforce gender gap and inspiring women to break down barriers and pursue their dreams unapologetically Her vision for a more inclusive and diverse workforce is a stepping stone toward a brighter and more prosperous future for Canada
The path that Nour Hachem-Fawaz has taken as the Leader of Build A Dream exemplifies the tremendous difference that one driven person can make in the lives of young women and marginalized groups. She promotes diversity and inclusion programs by linking industry with ambitious students, which not only helps individuals develop their full potential but also propels Canadian firms to the forefront of innovation and new ideas Nour's work as a pioneer, guide, and visionary has paved the way for future female leaders in Canada and will continue to drive the country forward
If you are a woman looking for opportunities to achieve sustainable financial independence, Build A Dream is the perfect place for you To learn more about their services, visit www.webuildadream.com
CanadianSME, a magazine catering to small and medium-sized businesses, is an excellent resource for companies that value innovation By subscribing to our magazine, readers can gain access to an array of information and remain apprised of market trends Stay connected with the CanadianSME community, which values business and entrepreneurship, by following @Canadian_sme on Twitter For real-time news on business trends, subscribe to CanadianSME's magazine by visiting their website at https://bit.ly/3QslxlH.
Joe Solly, National Consumer Sustainability Leader at Deloitte Canada, recently spoke to CanadianSME Small Business Magazine about his professional role and Deloitte's recent sustainability report He spotlighted the disconnect between consumers and brands over sustainable products, noting a trust deficit due to confusion surrounding sustainability claims In the interview, Joe detailed the report's recommendations for companies to circumvent greenwashing risks and stressed the importance of leveraging brand trust to enhance product authenticity He suggested effective methods for businesses to articulate the value of sustainable products to consumers, and shared strategies for navigating the potential risk of greenwashing accusations, a concern for 41% of Canadian businesses pursuing sustainability goals.
Joe Solly is a partner with Deloitte’s Risk Advisory practice and is also the national consumer leader of the Sustainability and Climate Change practice Joe provides strategic advisory, consulting, and risk assessment/management to clients to review and solve complex problems in business processes including environment, health, safety, sustainability & climate change, circular economy, sustainable products, quality management, and general operations
When did you start your journey? And what are your responsibilities as a partner, risk advisor, and national consumer leader for sustainability and climate change at Deloitte Canada?
My journey began when I enrolled in the inaugural Environmental Studies program at York University and then took on roles in the automotive, consulting, and retail industries My current role is to advise and provide solutions to clients on complex problems as it relates to business processes including environment, climate change, circular economy, sustainable products, complex climate modeling, and reporting.
Can you elaborate on the key findings of Deloitte Canada's report, particularly on the disconnect between consumers and brands regarding sustainable products?
Our first annual consumer sustainability study reveals that there is a major disconnect between how consumers and brands regard sustainability in products and services From the survey, we learned that almost half of Canadians (49 percent) are skeptical about the authenticity of brands’ claims Even more surprising, we found out that business leaders think the public has a significant (71 percent) or at least moderate (28 percent) level of trust in the authenticity of those claims
Acknowledging and closing this perception gap with authenticity represents a significant opportunity for companies, especially with more rigorous regulations about sustainability claims on the horizon. It’s also a chance for companies to get ahead in the marketplace.
The report suggests a majority of Canadian consumers feel confused and untrusting when it comes to sustainability claims made by brands. What factors, according to your research, contribute to this trust deficit?
The report reveals that 57 percent of consumers don’t believe most “ green ” or sustainability claims brands make. Only about a quarter (26 percent) of Canadian consumers feel trusting and tend to believe sustainability claims. This lack of confidence is also reflected in how consumers value sustainable products, with nearly half (46 percent) not willing to pay extra for sustainable products because of how hard it is to identify those that are genuinely sustainable
The root problem is one of lack of trust With a proliferation of sustainability claims in the marketplace and no established system to ensure clear and trusted standards, consumers are at a loss and the burden has been put on them to make sense of it all We think there is a huge opportunity for proactive brand actions, combined with stronger policy, to elevate practices and level the playing field around sustainability claims If you think about how nutrition labels helped to clarify consumers ’ expectations We need to work towards an equally effective mechanism with regard to sustainability to help companies aim for specific standards, drive concrete gains for the health of our planet, and empower consumers with clear information
What according to you are the effective ways through which businesses can leverage their purpose and brand trust to enhance the authenticity of their sustainable products?
We propose six initial actions businesses can take to build trust and address consumers ’ sustainability skepticism To foster trust in their commitment to sustainability, demonstrate the authenticity of the sustainability of their products, and help consumers make more sustainable purchase decisions, companies can start by:
Clarifying their purpose, which should be grounded in transparency, sustainability principles, and values
Engaging consumers on sustainability efforts at both the product and brand level, as opposed to only at the product level or at the point of sale
Identifying the product attributes that can have an environmental or social impact across the product’s full life cycle and identifying practical solutions to improve them.
Creating a strategy to incorporate sustainable sourcing into the supply chain, taking into account traceability and verification
Creating a marketing strategy to promote sustainable products, explaining the facts backing the claims, and communicating the company ’ s sustainability commitments
What advice does the report provide for companies to avoid the risks associated with greenwashing accusations?
Greenwashing occurs when claims are unsubstantiated, overblown, lack pertinence, or appear as self-serving as opposed to genuinely intended for the good of the planet If businesses want to avoid greenwashing accusations and risk jeopardizing their reputations, they need to ensure they can back up what they’re telling consumers and demonstrate that they are authentic about their commitment Not doing so only widens the confidence gap with consumers
Given that 46 per cent of consumers are not willing to pay extra for sustainable products due to a lack of clarity, trustworthiness, and authenticity, how can businesses effectively communicate the value of their sustainable products to consumers?
Consumers tell us they expect sustainable products and are willing to pay for those options – but only if there is validated, authentic value To earn consumer trust and justify higher product value for sustainable options, companies need to take a close look at their claims
The most credible sustainability claims commonly include the following attributes:
They’re clear and address known environmental and social issues across the value chain of a product
They’re rooted in a standard or body of requirements backed by science, such as a life cycle assessment, or in global climate science
They align with regulatory requirements and require evidence of compliance with applicable laws
They include data verification at multiple levels of the supply chain
They’re endorsed by a leading climatefocused entity, such as a non-governmental organization
They’re regularly reassessed and refined companies must undergo formal assessment and evaluation to obtain some form of assurance or certification
How can businesses navigate the perceived risk of greenwashing accusations, considering 41 per cent of Canadian businesses feel at risk when pursuing sustainability goals?
Consumers are increasingly worried about the prevalence of greenwashing in the marketplace, primarily because sustainability and green claims can be so easily made by brands –sometimes without validation The rise of greenwashing has led to a sense of skepticism among consumers The number one step to counter this phenomenon is for brands to be authentic about their sustainability journey Companies that are isolating sustainability to a single product or initiative are making a good step forward However, the strongest position for companies to be in is when sustainability is holistically embedded as part of the company ’ s purpose, when it is integrated into the complete value chain, and when efforts are clearly communicated to consumers Its when companies think they can ``sell sustainability`` that greenwashing risks arise
In the race to succeed in today's dynamic and highly competitive business environment, companies must stay ahead of the curve. To ensure continued growth and relevance, embracing innovation as a key value is essential One way to achieve this is through intrapreneurship - an approach that instills entrepreneurial behaviors within a corporate framework This approach, which gives employees the platform to think like entrepreneurs, can unlock untapped potential, ignite creativity, and accelerate business growth This article delves into intrapreneurship and its transformative effects on established organizations, propelling them toward unparalleled success
Intrapreneurship is the embodiment of an entrepreneurial mindset within a company ' s workforce It encourages employees to look beyond their traditional roles, embrace calculated risks, and bring forth innovative ideas that can revolutionize the organization Intrapreneurs, or "corporate entrepreneurs," are known for their passion, resourcefulness, and unwavering determination to challenge the norm. When these traits are nurtured within a company, it sets the stage for employees to spot opportunities, suggest game-changing solutions, and instigate meaningful change
Intrapreneurship seeds a culture of creativity and risk-taking within long-standing organizations It inspires employees to question the status quo, try out fresh approaches, and venture into new areas By granting the freedom for individuals to chase their ideas, companies can tap into a pool of innovative thoughts Intrapreneurs, unafraid to challenge traditional wisdom, often stumble upon ground-breaking solutions and breakthrough technologies This culture of intellectual exploration not only fosters personal growth but also catalyzes the organization's evolution and prosperity
Intrapreneurial initiatives provide established companies with a competitive leg up Intrapreneurs' keen understanding of industry trends and customer requirements helps them devise innovative products, services, and business models that hit a chord with consumers This flexibility ensures that companies stay relevant and viable in the face of changing market scenarios Moreover, intrapreneurship fosters a cycle of continuous improvement, paving the way for swift idea iteration and refinement, thus triggering accelerated growth and improved market standing
Intrapreneurship can help demolish silos and promote cooperation within organizations Encouraging employees to think beyond their functional areas leads to interdisciplinary collaboration This interaction of ideas and skills sparks creativity and brings forth fresh perspectives, often missed otherwise Intrapreneurship promotes transparency, idea exchange, and mutual backing among teams, encouraging a culture of collective intelligence and collaboration, which in turn fuels innovation
To leverage the full potential of intrapreneurship, companies must establish a supportive ecosystem This ecosystem should comprise various elements like resources, mentorship programs, dedicated time for innovative projects, and a conducive leadership structure A reward system acknowledging and incentivizing intrapreneurial efforts is vital to encourage employees to actively participate in innovation and take pride in their ideas
Intrapreneurship signifies a monumental shift in how organizations perceive innovation By empowering employees to adopt an entrepreneurial mindset, companies can uncover latent potential, spur creativity, boost growth, and carve out a competitive niche Adopting intrapreneurship fosters a culture of innovation, collaboration, and continuous improvement, which sets the stage for unparalleled success in the fast-evolving business arena By harnessing intrapreneurship, companies can shape a prosperous future in an ever-shifting world, surpassing today's challenges.
Why a chessboard to talk about this point? Because it’s strategic
The people that you elevate in your organization as leaders, and the leaders that you already have and continue to move upwards, is strategic; you ’ re making moves It’s critical for organizations to identify the most valuable pieces and act accordingly
“Accurately identifying and promoting great leaders is vital. Be crystal clear and transparent about the behaviors and traits you promote for, and make choices based on those. Tenure or obligation aren’t reasons to promote; choose great leaders, period.”
Accurately identifying and promoting great leaders is vital Be crystal clear and transparent about the behaviors and traits you promote, and make choices based on those Tenure or obligation aren’t reasons to promote; choose great leaders, period
Decide with clarity what it takes to be a leader in your organization Write it out, share it, and use it as a guide. Be transparent from day one to every employee and leader about what qualities will be the basis of decisions when it comes to filling leadership roles
Another point to make is that “talent mapping” is important I know that’s a very HR jargon-ish word, but what it means is going to people inside the organization and having conversations about what they want to do the most, and where they want to go next.
The other thing important to note here is that some people don’t want to become leaders, which is perfectly fine Some employees are wonderful individual contributors but would not make strong leaders
If that’s the case, find ways as an organization to create opportunities for increased compensation and upward progress that don’t involve becoming a leader of a team.
Ask your people, “What job do you want to have in 2 years, 5 years, 10 years?” Actively discover that from your people so that you know as a leader and an organization where people are headed so you can help them get there.
If you have people that want to become leaders, then take the opportunity to be proactive and coach them You can guide them and give helpful feedback and encouragement along the way Let them know right now the things that you’d want to see from them in order to move into that kind of role
Again, like I mentioned above, this is one reason why it’s critical to be extremely clear about what it takes inside your organization to become a leader. The more clearly defined the parameters, the easier it is to guide someone in the right direction
“Sometimes moving someone into a leadership position who is a great individual contributor is the worst case scenario because they aren’t necessarily great leaders”
Sometimes moving someone into a leadership position who is a great individual contributor is the worst-case scenario because they aren’t necessarily great leaders And if they arent then not only will the entire team suffer but you’ll lose all the benefits of that person ’ s contributions in the role they were great at You could end up losing them altogether, as well as others on the team because one side effect of bad leaders is that they cause employees to eventually quit their jobs
This one is very important for people who are already leaders inside organizations
Consider who you’re continuing to move up in the organization, too
Ask people what they want so you can help them get there
One factor that should weigh heavily in terms of promoting somebody inside an organization is feedback from their team I am a huge fan of a culture of feedback, where people give feedback to their leaders, and organizations ask for feedback from employees about their leaders It is a huge mistake for companies to not do this
Like I’ve said before and will again:
No terrible leader has a team that loves them, and no exceptional leader has a team that doesn’t.
If you ’ re gathering feedback from teams about their leaders, find ways to make sure they’ll tell you the truth People can be very afraid to say things that are less than great about leaders if they don’t trust the anonymity and discretion of the survey or whos receiving it
You must put processes in place to ensure that leaders will not see those direct comments or retaliate against whoever said them If an employee is citing specific examples then it is often obvious who wrote the comment and organizations need to make sure that they are factoring that into the process and guarding against it on behalf of the employees Going about this the wrong way can be extremely destructive, especially if you already have leaders who don’t belong in a position of leadership
One great question to ask as part of gathering feedback about leaders is, “Do you feel comfortable giving honest feedback in this survey about your leader?” If the answers to that question reflect a lot of hesitancy, then you know that there are some trust issues there that should be addressed, or at least that you should be aware of That can be a symptom of a leader who retaliates against people, or is not open to feedback, and as far as I’m concerned it’s a huge red flag
Team feedback is important and should absolutely weigh heavily on a decision to continue to move a leader up inside a company It’s one of the few ways that organization can identify leaders who are faking it and put on a good face in front of their superiors but are nightmares to work for And those bad actors are out there, big time
Last point I want to make about this, which is tied deeply to the work that I do, is that when you have a clearly defined and established culture, it is one of the easiest, most effective ways to identify and select people for leadership positions
When I say identify your culture clearly, I don’t mean a list of obvious values like “trust, respect, integrity, etc” I mean the behaviors and mindsets that define the rules of engagement of your culture
“Do not underestimate the importance of having high caliber leaders inside an organization.”
When that is in place, it provides a foundation for performance evaluations for employees as well as a compass and roadmap to identify future leaders and make decisions about whom to move up in the organization
Do not underestimate the importance of having only high-caliber leaders When it comes to the performance, engagement, and retention of your people, high-quality leaders all the way up and down the company are the lowest-hanging, sweetest, most important fruit you ’ ve got
A behavior-based code of conduct that defines how people are expected to show up in the organization that is undeniably clear, universally understood, and that everyone takes ownership and accountability for.
The cost of doing business has increased sixfold and Canadian entrepreneurs are feeling the pinch In a recent study, we found out that the cost per unit has grown approximately six times more between 2020 and 2021 than the average annual cost growth between 2013 and 2019
While inflation is slowly returning closer to its target, an aging population, the energy transition and global geopolitical issues will continue to exert pressure on costs In such challenging economic times, it's imperative to prioritize profitability
Our study looked at what SMEs are doing to cope with rising costs and found that there are three winning strategies you can adopt to mitigate escalating costs and ensure the long-term growth of your business
Investing in technology and operational efficiency may seem counter-intuitive during a period of high costs However, automation technologies have the potential to increase revenues at a faster pace than the incremental increase in associated costs Moreover, there are simple and inexpensive ways to get started such as the Government of Canada’s Digital Adoption Program (CDAP) that offers grants and 0% interest loans for SMEs to implement new technology By automating business processes and repetitive tasks such as invoicing, inventory management and purchasing, you can free up your employees for more value-added activities as well as mitigate current labour shortage challenges
Marketing automation tools have become increasingly prevalent and are no longer limited to large corporations. Top-performing companies of all sizes are using these tools for lead generation, ecommerce, and customer service (to name a few) and many of the smaller businesses we talk to every day are benefitting from accessible and cost-effective solutions tailored to their needs We always recommend working with trusted advisors to determine when and where to invest in automation in order to achieve maximum results
While some entrepreneurs may perceive a conflict between decarbonization and business longevity, the two objectives are more aligned than you might think SMEs that map and reduce their carbon footprint throughout their operations not only mitigate rising energy and transportation costs but are almost eight times more likely to achieve strong growth – fueled in part by buyers increasingly looking to support sustainable businesses
Procurement which considers environmental, social, and governance (ESG) criteria opens up wider market opportunities for SMEs as larger companies increasingly demand environmentally-responsible suppliers In fact, sustainable procurement is now unavoidable: in a previous study, we found that the proportion of major buyers that will require ESG reporting from their suppliers could reach 92% in 2024! Without ESG reporting, your business could be left out of big contracts
Implementing solid accounting practices is crucial for you to understand your business’s financial standing and enable informed decision-making Accurate bookkeeping practices and modern accounting software are essential prerequisites for real-time operational insights Once these fundamentals are in place, costing exercises can help identify profitable areas and re-evaluate unprofitable ones, while cash-flow management tools will enable you to stress test assumptions and generate short and long-term forecasts
One phenomenon we see a lot of is “ revenue leakage,” where business owners give away services that they could be charging for and write them off as “costs of doing business ” Analyzing the cost of these “free value-add” activities and calculating their returns is important for profitability, especially as in many cases your clients may well be willing to pay for them. Good
financial management and reporting can help unearth these opportunities as well as counter other risks such as fraud, embezzlement, and cost overruns that can go unnoticed or unchecked for long periods and significantly impact your bottom line
Despite a business landscape plagued by escalating costs, Canadian SMEs can adopt new measures, strategies, and tools that can enable them to thrive We are seeing it every day Embracing automation, reducing your carbon footprint, and proactively managing your finances are proven ways for your business to cope with rising costs As Canadas bank for entrepreneurs, we stand ready to assist you on this journey and drive your success in the years to come
Paula is Senior Vice President, Ontario, overseeing BDC’s financing and consulting services across that province, bringing more than 25 years of experience in the banking industry to the role.
Paula joined BDC in 2009 as Vice President, Securitization, taking over the management of the Canadian Secured Credit Facility, a $12 billion program by the Government of Canada to help restart the asset-backed securities market following the 2007–2009 financial crisis She also launched BDC’s Funding Platform for Independent Lenders (F-PIL) to provide capital to smaller financing and leasing companies. In 2015, she assumed responsibility for both Syndicated Financing and Indirect Financing (formerly Securitization), rebranding the unit as Wholesale Financing in June 2016 In 2017, Paula was appointed Senior Vice President, British Columbia and North, successfully growing the bank’s financing and consulting services throughout that region In 2020, Paula transitioned into the role of Senior Vice President, Ontario with the objective of growing the region’s portfolio. She also took on the role of Business Lead for BDC’s Digital Transformation in Ontario from 2021 to 2023, in which she focused on ensuring digital investment decisions and strategies for segmentation, omni-channel and client teams were aligned and continued to serve BDC’s clients
I’m Evelyn, a 24-year-old girl from KitchenerWaterloo now living in Toronto I’ve always had dreams about being in a magazine either as a writer, an editor, a stylist, or a creative director Never in a million years did I think I would author a feature piece - I am beyond grateful for this opportunity
I am the founder of “ new nails, who dis?” a brand dedicated to providing customers with high quality, unique, hand-painted press on nails I'm a one-woman band - I hand paint each set, but I also do everything behind the scenes from branding to social media and website building
This brand was born from failure - after graduating from the University of Waterloo with a degree in Business, Communications and a minor in Digital Arts, I worked at a social media company for almost a year before I was laid off After 5 years of lectures, studying, and co-ops, I thought I had finally figured out my life path, but I was suddenly thrown this curveball with no backup plan For months I would open Linkedin only to see another one of my connections being laid off and seeking help – a feeling all too common at the moment With a solid resume, a degree, and 2 years of experience in social media marketing, I was still competing against thousands of applications for entry-level positions
As a hobby to help me unwind during this stressful time, I had been doing gel-x nails on myself. This evolved into me doing my friends' nails and they turned out to be my biggest champions They urged me to start advertising my services and make a real go of it With the rocky job-search climate, I felt I had nothing else to lose and dove headfirst into the small business world
Having a good idea is only the beginning when starting a small business Figuring out how to get in front of potential clients and have them try out my products was the next part of the long journey ahead Haley, a friend of mine who owns Cloud Three out of Waterloo, recommended I apply to be a vendor at small markets, specifically in the Toronto area Markets were where she’d had some great success selling her handmade pottery (check out her Instagram here) With her prior experience in the market scene, she was able to tell me everything I needed to know in order to get involved myself
Fast forward a month and I was booked for three markets during the month of June. In my first market appearance, I left with no sales, however, in the second market I attended I had two sales and then in the third market, I left with 16 sales In a relatively short time, I had seen a massive increase in sales What I’d learned from this was the importance of location and likely volume of foot traffic For example, locations like Ossington, Queen West, or the Stackt Market on Bathurst are a couple of locations that have a surefire way to get you seen by a large number of people In addition to being cognizant of location, during your research period and when applying to be a vendor at a specific market, be sure to ask the organizers what the turnout is expected to be, or has been during past events
Getting to those moments where I receive recognition wasn’t something I’d always expected. It took me some time to believe that my art is worthy of praise. I went through the growing phase that many artists will understand where the work you create just doesn’t feel good enough to share However, I was able to push through this feeling with my friends' encouragement and throughout the early stages of my small business journey I can finally say I am confident and proud to call myself an artist – my canvas is just extremely small!
I'm immensely proud of the growth I've had since I started this brand in April and I’m beyond excited to see where this business takes me Right now, I’m considering returning to the corporate world or even going back to school, while working on growing my business and maintaining momentum I always thought I’d have my career path figured out, however, there are so many opportunities laid out and I want to give myself the chance to explore them
I appreciate you taking the time to get to know my story and I’d love for you to follow along on my journey You can find my work on Instagram or on my Etsy shop See you there!
The success of my final market in June had me reminiscing about one of my university classes. We had been asked to write a mission statement for our future careers and mine had been along the lines of, "creating beautiful things to make people happy.” Little moments I’d experienced at the markets I’d attended; whether it had been when someone told me I should be proud of myself, or when their voices go really high because of the excitement they feel looking at my designs, really made me realize that I’m doing what I’d always dreamed of doing – and there’s no better feeling
CanadianSME Small Business Magazine had the privilege to engage with Paula Allen, the Global Leader of Research & Client Insights at TELUS Health, in an insightful conversation about her professional journey and role Paula discussed the significant findings from the TELUS Mental Health Index, highlighting the correlation between collaboration and improved mental health scores among workers She further elaborated on the impact of team conflict on mental health, an issue reported by over a quarter of managers last year. In light of the consistent Mental Health Index score, which indicates ongoing mental strain among workers, Paula shared her perspective on necessary steps to mitigate this situation She also offered advice on ensuring the mental well-being of independent workers and emphasized the importance of fostering a positive collaboration environment within organizations to bolster mental health
Paula Allen is the Global Leader, Research & Client Insights at TELUS Health Paula is a well-recognized expert in all areas of workplace mental health
Building on a clinical background, she has more than 20 years of experience relating to workplace research, product development, and operational leadership.
Paula is also a sought-after speaker by media, organizations, and conferences for her knowledge and expertise in current issues and the future direction of health, well-being, productivity, and related risk management
Paula is a Director on several Boards given her expertise in health and health innovation
When did you start your professional career? And what are your responsibilities as the Global Leader, Research and Client Insights, and Vice-President at TELUS Health?
Building on a clinical background, I have more than 20 years of experience related to workplace research, product development, consulting, and operational leadership I started my corporate career in Disability Management, which later led to various other roles, all of which included research In every role I’ve had, two things have been constant: the need for evidence-based analysis and an unrelenting focus on people-centered solutions
In my current VP role as the Global Leader, Research and Client Insights at TELUS Health, I lead a team of data scientists and researchers that explore data science as it relates to our total health business. Our objective is to:
Provide data-driven insights to the global market through our TELUS Mental Health Index report at conferences and in publications.
Provide valuable analytics to our clients to help them make informed decisions about their organizational needs and workplace health strategies.
Provide relevant analytics to TELUS Health to improve its evidence-based practices, client relationships, and product development processes.
Our data shows that managers who encounter team conflict experience lower mental health scores compared to managers who don’t, with an 11-point difference Our data also revealed that 12 per cent of managers have to deal with instances of harassment and bullying within their teams, a responsibility that takes a tremendous mental toll on many people
The TELUS Mental Health Index has revealed that workers who collaborate with others have better mental health scores. Could you further explain why you think collaboration positively impacts mental health?
Collaboration brings people together through a shared experience
Good, healthy interactions make workers feel valued, and enhance their sense of purpose and belonging – all of which are critical to maintaining positive mental health and wellbeing
Despite the many benefits of remote and hybrid work, the risk of social isolation is significant. However, if and when employers intentionally create opportunities for collaboration, the risk of isolation decreases. Manager training, team building activities and group brainstorming sessions are ways in which employers can cultivate collaboration and positively impact the mental health and wellbeing of their workforce.
With over a quarter of managers reporting team conflict in the past year, what role do you believe this conflict plays in the mental health of workers?
Conflict within a team is something that should always be addressed sooner rather than later In a previous TELUS Health report, we found that 46 per cent of workers in Canada are more sensitive to stress now than before the pandemic This materializes in more cynicism, anger and conflict in addition to lower wellbeing
The overall Mental Health Index score in Canada has plateaued at 64.6 for two consecutive months, while workers continue to experience mental strain What are your thoughts on these findings, and what steps should be taken to improve this situation?
The TELUS Mental Health Index score has been concerning for quite some time It appears that our collective mental health has fallen to a level much lower than it was in 2019, prior to the pandemic Theres no denying that the mental strain we experienced over the pandemic has had a lasting impact
Today, 33 per cent of workers in Canada have a high mental health risk, with anxiety and isolation being at its worst level for 13 consecutive months These numbers help drive awareness to the very real crisis unfolding in workplaces across the country, while also highlighting to employers the real need to offer resources so that their workers can get to better health
Implementing proactive measures such as comprehensive workplace mental health programs, work-life balance offerings and opportunities to collaborate will help to rebuild healthy workplaces and give employers an advantage in the marketplace
TELUS Health programs like Total Mental Health and Virtual Care are great examples of employer-provided solutions that not only help improve wellbeing but also recruitment and retention. With 77 per cent of employees willing to consider changing jobs for better wellbeing support, it’s imperative for organizations not to delay in offering more personalized support that fits the unique needs of their workforce.
A significant number of workers don't need to collaborate in their roles, which appears to have a negative impact on mental health scores. How can organizations ensure the mental well-being of workers who work more independently?
Even in roles where collaboration is not a primary requirement, organizations can foster well-being Taking advantage of moments that allow for collaboration, like training and brainstorming sessions, are effective but they are not always sufficient in improving mental wellbeing among workers Robust employee assistance programs (EAPs) and mental health services are vital Implementing support such as confidential counseling, therapy sessions or a mental health helpline demonstrates a firms commitment to the employee in supporting their total wellbeing
Investing in employee mental health, especially for those who aren’t in collaborative roles, sends a powerful message throughout the organization, and arguably to the organization’s industry, that wellbeing is valued and supported regardless of job title The key is regular communication and promotion of these employer-provided services to the employee base to ensure there is broad awareness of these supports and to help normalize use
By prioritizing employee mental well-being and understanding the unique needs of a workforce, organizations can enhance overall productivity, reduce absenteeism, and cultivate a healthier and more engaged workforce It is a strategic investment that leads to happier, more resilient employees who contribute significantly more to the success of the organization.
With almost 73% of workers describing positive experiences when collaborating, there's a clear correlation between collaboration and mental health scores. How can organizations foster this positive collaboration among their teams?
The starting point is always – and out of necessity – a safe and inclusive culture, where people feel accepted and respected With that as a foundation, connection and social support can flourish
Organizations can also establish clear goals and expectations for collaboration, ensuring that it is integrated into the workflow and measured Additionally, regular feedback and recognition for collaborative achievements can motivate employees to engage in ways they may not have considered before. Providing opportunities for team-building activities, both within and outside of work settings, can further strengthen relationships and foster a sense of connection Ultimately, by nurturing a culture of trust and support, organizations can grow faster and stronger
In a recent interview with CanadianSME Small Business Magazine, Shane Yu, a Business Advisor at BlueShore Financial, shared his insights on the potential challenges and opportunities SMEs could face during an anticipated recession He suggested strategies for B2B businesses to adapt their services for a wider audience and emphasized the importance of consistent investments in areas such as technology, talent, and innovation Shane also highlighted the benefits of leveraging local brands and influencers for costeffective relationship building Additionally, he offered guidance on careful navigation of market revivals due to shifts in attitudes. The discussion offered a holistic guide for SMEs to effectively navigate and potentially thrive during an economic downturn
Shane is passionate about getting to know his clients, with a view to understanding and anticipating their needs. Prompt communication, thoughtful advice, and a keen eye for detail are his key assets He brings firsthand experience in manufacturing, wholesale, B2B, and nonprofit organizations
With an in-depth knowledge of his client’s financial picture, Shane is able to offer business banking, financing, and investment solutions supported by a network of specialized partners
As a business advisor, Shane is also able to draw upon a strong team of specialists to take care of such matters as succession planning, key person insurance**, leasing, acquisitions, property development and more
Despite the resilience of the Canadian economy, a recession is predicted to hit eventually. What particular challenges do you foresee SMEs will encounter during this period?
As the saying goes, “When the sun ’ s out make hay ” We have now been waiting a year for this forecasted recession to occur – during this time we have seen steady activity from Canadian consumers As an SME, be ready with the foot adjusted on the break The challenge business owners face will be long-term financial commitments that don’t have the appropriate contingency built up – or a reasonable exit strategy A slowdown of overall economic activity in the North American Market can be very unnerving. There are never any guaranteed circumstances of the duration of these lulls or the volume of slowdown in specific segments. Draw out realistic scenarios on your most probable shifts in market activity and ensure that you are revisiting those plans every 30, 60, and 90 days I recommend also meeting with a Business Advisor to comb through your plans for extra feedback and planning support as needed
Given the different approaches recommended by BlueShore advisors for B2C and B2B SMEs during a recession, could you explain how a B2B company might successfully repackage its products and services for a more general audience?
Refocus your product or solution on its end-user experience, the personal consumer – how is your product, solution, or service synthesized into a B2C transaction? Also, learn what other markets those clients are likely to interact with Shifting your marketing, sales, and production from B2B to B2C can be a costly and challenging endeavor, but if you can find new angles to support industries that reach the same client, you may have an opportunity to widen your market base
The advice from BlueShore also suggests that SMEs should continue to invest in various aspects of their business despite an upcoming recession Can you give examples of the investments you recommend for SMEs to help them thrive in such economic conditions?
We have seen a dramatic increase in the cost of inventory and equipment for small businesses This is an unfortunate byproduct of a decline in market activity, and with the high cost of operation comes the closure of competition These moments open up opportunities to purchase assets, inventory, or portfolios at a deep discount Keeping a well-balanced ledger of fixed loan costs and cash liquidity will mean an open opportunity to capitalize on low-cost business investment opportunities
What in your opinion are the effective strategies of leveraging local brands and influencers to build relationships with key clientele during a recession? How can SMEs implement this in a cost-effective manner?
Your investment and collaboration with smaller companies will carry much greater value per dollar in a challenging market Be strategic, thoughtful, and measured on who you pick as a collaborator – a person with 25,000 followers has a much greater likelihood to engage with each one of their comments than someone who has over 100,000 The same goes with retail or business partnerships with smaller retailers and boutiques – the wins may be smaller, but the opportunity to collaborate on growth is much greater
What are the key considerations for SMEs when making use of a successful conversion stream? Additionally, what are the potential advantages and risks of pursuing a market revival due to attitude shifts?
It all starts from square one: who is your return customer? Understanding your most loyal cohort and expanding from their market segment will be your greatest opportunity with the least amount of risk You’ve already developed a language and system that resonates with a specific segment – this will be your greatest way to build off of an already reliable pipeline
As per a market revival due to attitude shifts, this will be a brilliant live exercise in your business and project management. Revisit your product pipeline and see where the surprise costs and opportunities occurred. Are these all still relevant risks and liabilities? Do we have better faculty to avoid these challenges? What are the changes in the external market that may mitigate or exacerbate these issues? Be sure to take pen to paper, and keep notes and document your findings. Regardless of whether you pursue these markets, your insight during this chapter will be valuable in the future.
As the world’s businesses move toward tech and innovation marvels on hotfoot, a major hurdle they face during their entrepreneurial journey is the management of customer data and integrating PSA (professional services automation) A formidable combination that helps with the implementation of robust resource planning for enhanced efficiency This is why CRM has gained an indispensable position within the trade and commerce scene which is, frankly, no different in the Canadian business landscape
That is why, the CanadianSME Small Business Magazine is about to briefly discuss the numerous options available for small businesses in Canada to boost their productivity and lead the Canadian business industry on a global level We are going to present to you the top five players of the tech or CRM industry that aren’t just elevating the business game for so many enterprises but also leading the tech scene in Canada
So, without any further ado, let’s dive into their profiles to understand what they offer Shall we?
Salesforce's Customer 360 CRM software is the industry standard because it brings together the whole organization with the same goal of providing superior service to customers In doing so, it fosters integrated collaboration capabilities that lead critical discussions and choices right where people work by providing teams with access to a single source of truth The Salesforce CRM allows businesses to get deeper insights from their data and take data-driven activities to serve their customers better
Since its founding in 1999, Salesforce has been at the forefront of the "software as a service" (SaaS) concept that has changed the technology sector by providing a portfolio of solutions that promote seamless interactions and drive success If you want to benefit from their CRM solutions, click here to discover their offerings www salesforce com
Method CRM is an award-winning CRM software designed to cater specifically to small businesses Recognizing the unique challenges faced by small enterprises, Method CRM offers a better way to run businesses, ensuring that no tasks slip through the cracks and that productivity is maximized As the creators were once small businesses themselves, they understand the limitations of using one-size-fits-all software and the need for adaptable solutions that align with individual workflows Method CRMs standout feature lies in its complete customizability, allowing small businesses to tailor the software to their specific needs and preferences. With Method CRM, small businesses can enjoy the benefits of enterprise-level solutions at affordable prices, empowering them to operate and thrive in a manner that best suits their unique requirements
Learn in more detail about their personalized service packages and offerings, visit www.method.me
1CRM
Highly regarded in the CRM space, 1CRM was developed out of a need to simplify and reduce costs associated with competing CRM software The original concept was to have a unified database for all company information, which would do away with the need for several programs and cut down on overhead 1CRM was founded in 2005 under the leadership of Chief Technology Architect Andrew Whitehead and CEO Michael Whitehead to meet the requirements of organizations outside of the traditional sales department. Since then, 1CRM has helped tens of thousands of companies streamline their operations and increase their revenue.
On March 1, 2022, Canadian firm 1CRM was bought by Portage CyberTech Inc, a wholly owned subsidiary of Converge Technology Solutions Corp 1CRM is the market leader in all-in-one CRM systems, providing crucial assistance to small and medium-sized businesses on their development path thanks to its over 45,000 customers and reputation as a cost-effective and highly adaptable CRM solution.
Check out their solutions, services and products for small businesses by clicking this link www.1crm.com
Zoho CRM software offers a comprehensive suite of functionalities designed to optimize lead management and conversion processes Lead scoring and automated lead assignment help firms focus on the leads most likely to become paying customers With the help of contact management capabilities, you can keep track of your interactions with customers, social media mentions, and statistics in one convenient location With the help of deal management, organizations may learn about both active and potential transactions, categorize them according to where they are in the sales funnel, and calculate the likelihood of winning each contract
Zoho CRM
Efficient communication, prioritized emails, and detailed follow-ups are all made possible when CRM is integrated with email management With less time spent on administrative activities, sales teams are free to concentrate on making sales Data-driven decisions made with the help of the built-in analytics engine provide firms with an edge Lead generation and targeted email marketing are facilitated by the Marketing CRM's marketing automation and campaign management tools, which maximize return on investment
Take a look at their host of services and products to help boost your productivity; click www.zoho.com/in/crm.
Founded by Brian and Dharmesh in 2004, HubSpot emerged from their recognition of a shift in consumer behaviour, where people no longer wanted to be interrupted by marketers or salespeople The software offers specialized hubs for marketing, sales, service, and content management, catering to the diverse needs of businesses
With over 1340+ integrations and the ability to create custom apps, HubSpot's CRM platform can be seamlessly tailored to fit the unique requirements of any business, creating a powerful tool for sustainable growth You can discover more about the HubSpot CRM software solution by browsing their official website at www hubspot com/products/crm
Each of these aforementioned CRM software solutions is leading a niche of small businesses in Canada and helping businesses achieve the success they envisioned These CRM solutions providers are the front liners of tech innovation and adoption to bring about the economic boom that Canada is fast pacing towards All these players help small businesses in Canada boost their productivity by placing the resources at the right level of their operational hierarchy, thereby making AI-run business ventures a reality This would have a ripple effect in the times to come and would actually drive the generation of more jobs as opposed to the general presumption of technology
CanadianSME, a magazine catering to small and medium-sized businesses, is an excellent resource for companies that value innovation By subscribing to our magazine, readers can gain access to an array of information and remain apprised of market trends Stay connected with the CanadianSME community, which values business and entrepreneurship, by following @Canadian_sme on Twitter For real-time news on business trends, subscribe to CanadianSME's magazine by visiting their website at https://bit.ly/3QslxlH.
Every entrepreneur who starts a new business has the ambition of pushing that business to new heights and dominating marketplaces in other countries It is impossible to deny the draw of reaching out to a worldwide audience, discovering new vistas, and gaining access to a large consumer base Expanding internationally, on the other hand, is not an easy task and calls for careful planning, preparation, and the proper time How exactly can business owners evaluate whether or not their start-up is prepared to compete on a global scale? In this article, we will cover crucial signs that signify your firm is ready to make its imprint on the global business scene
These indicators may be found in a variety of places:
Prior to expanding into international markets, it is imperative for a startup to establish a strong presence in its domestic market Having a strong customer base and a proven demand for your product or service gives you the confidence needed to explore opportunities on a global scale In addition, it is important for your business to have scalability, meaning it should be able to accommodate and manage increasing demand To ensure the continued delivery of value to customers as operations expand, it is crucial to have sufficient infrastructure, systems, and processes in place
Expanding your startup globally entails financial risks that must be carefully addressed through thorough preparation In order to support your international strategy and ensure sustainable growth, it is essential to have sufficient capital and resources at your disposal It is crucial to seek guidance from trusted advisors and legal experts in order to effectively navigate the legal implications of exporting and ensure full compliance with international regulations
Expanding into international markets should be a deliberate and strategic decision, motivated by the desire to explore new opportunities outside of your domestic market. If your startup has reached its maximum potential in the domestic market or is facing a decline in interest, expanding globally could be a strategic move to revive growth To ensure the success of your product or service, it is crucial to conduct comprehensive market research
This research will help you identify the regions where your offering holds relevance and allow you to assess the competition in those areas When creating your business plan, it is important to customize it according to the specific needs and preferences of your target markets This involves taking into account various factors such as logistics, distribution, and potential business partnerships
Your ability to launch a successful company on a global scale is strongly dependent on having the appropriate team in place. You will need a team of specialists on the ground in overseas markets in addition to the team that works on the development and delivery of your product or service in the home market It is essential to fill open positions with knowledgeable candidates who are familiar with the local economy, traditions, and cultures They are of critical importance to the marketing, branding, and expansion of your firm in foreign markets In addition, it is vital for effective operations to have a system in place that allows for the rapid discovery of workers and management in locations abroad
The thought of expanding your business to a worldwide scale may be intimidating, but entrepreneurs have access to a multitude of services that may make the process easier In order to assist in the development of a worldwide strategy, many organizations such as Startup Canada, EDC, MaRS Discovery District, the Trade Commissioner Service (TCS), and the International Growth Collection provide helpful resources such as tools, guidelines, and articles written by thought leaders Startups are given the opportunity to receive finance and to present their ideas to investors from a variety of areas via the implementation of programs such as Startup Global, which helps to cultivate a vibrant and welcoming community of global entrepreneurs
Deciding to expand a startup globally is a major milestone that necessitates a thorough evaluation of multiple factors Having a strong customer base, a scalable business model, and a qualified team are essential elements that create a solid foundation for success When expanding globally, entrepreneurs should not only focus on market research to identify profitable opportunities but also take into account the legal and financial implications Startups can confidently embark on their journey to international success and unlock boundless possibilities in the global market with the right support from organizations and access to helpful resources
CanadianSME, a magazine catering to small and medium-sized businesses, is an excellent resource for companies that value innovation. By subscribing to our magazine, readers can gain access to an array of information and remain apprised of market trends. Stay connected with the CanadianSME community, which values business and entrepreneurship, by following @Canadian_sme on Twitter. For real-time news on business trends, subscribe to CanadianSME's magazine by visiting their website at https://bit.ly/3QslxlH.
With the global pandemic and fast digitization of trade & commerce altering consumer behaviour and market dynamics, it's crucial for SMEs in the Canadian business scene to adopt innovative strategies to thrive in the new normal Small and medium-sized businesses (SMEs) in today's dynamic economic environment have both distinct problems and development prospects. To combat this very challenge of successful business operations, the CanadianSME Small Business Magazine brings your way a set of five effective strategies that can help you elevate your business running game to new heights
So without wasting any time, let's dive into the most effective strategies that can drive business growth and development for small and medium-sized enterprises (SMEs) in Canada:
The current digital age requires businesses to cultivate a robust virtual footprint, as it has become a necessity for the success and sustainability of any commercial endeavour Nevertheless, the mere existence of a website does not suffice In order to effectively captivate and maintain a loyal customer base, small and medium-sized enterprises (SMEs) must diligently ensure that their websites are meticulously fine-tuned to align with the algorithms employed by search engines, utilizing the most optimal search engine optimization (SEO) techniques available
By optimizing their websites for search engine algorithms, small businesses gain the potential to improve their website traffic and improve their rankings in organic search engines By implementing best search engine optimization (SEO) practices, such as the creation of superior and authentic content coupled with the right set of relevant keywords, you can effectively enhance the visibility of your website, thereby attracting prospective leads and client base
With the rise of social media, companies now have a powerful new tool for reaching new audiences and developing lasting relationships with existing ones There is tremendous opportunity in social media for small and medium-sized businesses (SMEs) to build a loyal customer base, engage with their target audience, and strengthen the community around their brand.
Establishing genuine connections between brands and their intended audience is often facilitated by using specialized customer service techniques and forging relationships with microinfluencers Building a strong online presence across many social media channels has the ability to raise brand awareness, strengthen consumer loyalty, and fuel company growth
Even in the digital sphere, networking is a potent method for promoting the growth of small companies. Although SMEs may have fewer possibilities for face-to-face encounters, they may still make use of virtual networking to reach out to new clients and strengthen links with those they already have
Expanding one ' s professional network and easing the passing of recommendations and endorsements may be accomplished by making use of digital video platforms and maintaining an active presence on LinkedIn Strategically interacting with current customers may result in mutually beneficial alliances and fresh business opportunities
The recent global pandemic lockdowns triggered an undeniably rapid trajectory toward the remote working phenomenon, which led small and medium-sized enterprises (SMEs) to acclimatize to this new paradigm shift Setting clear expectations for remote workers and implementing regular performance reviews are two great ways to maintain productivity and encourage team cohesion and productivity
The use of project management software ensures that projects will be completed within the allotted time frame by improving communication and work distribution Employee satisfaction, productivity, and organizational flexibility can all improve manifolds when remote work practices are adopted
With the remote work setup in place, it is imperative for you to allocate resources toward installing or employing the appropriate technological infrastructure in order to ensure optimal operational success You need to carefully gauge appropriate software and hardware solutions in accordance with the cost incurred and efficacy. This would help you to effectively economize time, optimize productivity, and augment monetary inflow.
By leveraging cloud-based storage solutions, communication tools, and accounting software, one can establish a harmonious remote work ecosystem Strategically allocating resources towards technological investments has the potential to position small and medium-sized enterprises in a favourable position for expansion and growth
Thus, it is imperative that Canadian SMEs use innovative methods of adapting to the new normal and propelling their companies forward Small and medium-sized enterprises (SMEs) have a fighting chance in today's competitive market by making strategic use of search engine optimization (SEO), social media optimization (SMO), strategic networking, flexible working arrangements, and technological investments Sustainable growth and development for small and medium-sized businesses are plausible only by adapting to the changing times and making use of digital tools and resources.
CanadianSME, a magazine catering to small and mediumsized businesses, is an excellent resource for companies that value innovation. By subscribing to our magazine, readers can gain access to an array of information and remain apprised of market trends. Stay connected with the CanadianSME community, which values business and entrepreneurship, by following @Canadian_sme on Twitter For real-time news on business trends, subscribe to CanadianSME's magazine by visiting their website at https://bit.ly/3QslxlH.
One aspect of running a business venture is a robust promotion and marketing of your products and services Using the right strategy is the key to a successful advertising campaign, but partnering with a dependable business associate is also as significant
In the ever-changing realm of digital marketing, businesses are always on the lookout for the most efficient strategies to differentiate themselves and engage with their intended audience Mediaforce, founded in 1996 by Joe Bongiorno, has emerged as a pioneering force in the industry. Initially a software development company, it has since evolved into a prominent leader in web design, cyber security, and comprehensive digital marketing services Mediaforce is a company that stays up-to-date with the constantly evolving digital landscape They specialize in helping small to medium-sized businesses, brands, and non-profit organizations by offering innovative solutions that improve conversions and enhance online success
Digitally speaking, making a good first impression is crucial The design of your website acts as the online representation of your business, and a carefully crafted design can have a significant impact on captivating your audience and increasing conversions Mediaforce recognizes the significance of maintaining a harmonious blend of industry standards and exceptional designs that truly represent your brand's distinctive identity
The media agencys team of skilled designers excels in creating custom websites that effectively connect with the target audience and differentiate businesses from their competitors Every design is carefully crafted to guarantee an outstanding user experience and a smooth journey for visitors, ensuring that their interaction with the website is both enjoyable and memorable.
Engaging content and a seamless user experience are crucial factors in the pursuit of conversions. Mediaforce understands the importance of creating meaningful and engaging content that not only connects with visitors but also improves website rankings in search results Mediaforce guarantees that your website will have captivating content, owing to their expert team of skilled copywriters They include conversionfocused CTAs (Calls to Action) that effectively guide potential customers toward achieving your desired objectives
One aspect that sets Mediaforce apart is their ability to create intuitive and userfriendly web designs The designers devote extensive time and effort to crafting a distinctive design approach that perfectly matches the specific needs and preferences of the target audience The outcome is a website that provides visitors with a unique experience, leaving a memorable impact that cultivates brand loyalty and promotes conversions.
Their WordPress web design services provide a wide range of style options that effectively capture and showcase your brand identity All websites are designed to be responsive and mobile-friendly, which means they will perform optimally on any device that your audience uses to access your site. Mediaforce utilizes modern coding techniques, such as clean HTML5 and CSS3, to create secure and professionally styled websites These websites are designed to have a logical and easy-to-navigate structure, benefiting both users and search engines
Mediaforce is spearheading the ever-changing digital landscape to consistently drive business success by extending cutting-edge web design and digital marketing solutions They have a strong focus on tailoring designs to reflect distinctive brand identities with enhanced user experience by incorporating best SEO practices This helps businesses reach new heights of online success Whether you are a small startup or a medium-sized enterprise, Mediaforce provides strategic website platforms, engaging content, and cutting-edge SEO techniques
Mediaforce firmly believes that web design and SEO (Search Engine Optimization) are closely intertwined Mediaforce recognizes the significant impact of SEO in generating organic traffic and enhancing visibility. As a result, they integrate SEO and analytics into every website they develop. By integrating web design with advanced SEO techniques, they establish a strong foundation for your online presence to thrive and achieve success
This combination is ideal for creating an engaging and high-converting website that captivates users on all devices Experience the incredible impact of Mediaforce's digital marketing expertise as it empowers your business to achieve remarkable conversion rates Witness the unparalleled connection you will establish with your audience, leading to unprecedented success
To learn more about their services and package offers, do visit their website at mediaforce.ca
CanadianSME, a magazine catering to small and medium-sized businesses, is an excellent resource for companies that value innovation By subscribing to our magazine, readers can gain access to an array of information and remain apprised of market trends Stay connected with the CanadianSME community, which values business and entrepreneurship, by following @Canadian_sme on Twitter. For real-time news on business trends, subscribe to CanadianSME's magazine by visiting their website at https://bit.ly/3QslxlH.
The world business panorama is brimming with high-tech innovation, which despite its complexity and difficult functionality, is taking trade and commerce by storm With machine learning and AI accelerating the efficiency that businesses use to respond to customer inquiries or implement resource planning is just something that was unimaginable in the last decade And fairly so, because with market demands continuously changing and shifts within consumerism patterns, businesses around the world are trying to tap this shift and maximize their profitability with sustainable growth
So in order to keep up with these changes, which though possible, requires great efforts and accurate calculations, a feat that business owners across the world often struggle to accomplish To address these issues, three tech companies have developed state-of-the-art software solutions which can not only handle complicated data input but also improve efficiency These organizations extend these software programs to resolve specific issues faced by small and medium businesses and also offer hands-on guidance to help businesses achieve their end goals
In light of these facts, the CanadianSME Small Business Magazine has decided to share the product and tech solutions details of the three outstanding Canadian tech businesses that are pioneering tech support in the region’s business landscape Each of the companies is carving out niches for themselves with respect to the kind of tech support they offer to the SMEs, thereby proving their dependability over time.
Sky High ERP is a highly regarded professional services firm specializing in NetSuite They are well-known for their exceptional expertise in NetSuite ERP consulting The team at Sky High ERP has a clear mission to help their clients transition into the digital era They achieve this by utilizing their extensive techno-functional skillsets to optimize and streamline business processes within the ERP system The company ' s dedication to providing high-quality solutions is clearly demonstrated by its extensive understanding of industry best practices Sky High ERP provides a wide range of services that are designed to meet the unique needs of each client These services include seamless implementation, customized solutions, thorough training, and ongoing support
Sky High ERP strives to offer a holistic suite of services that cover all aspects of ERP implementation and maintenance Additionally, they have expertise in conducting ERP reviews and optimizations, facilitating smooth data migration, and implementing efficient integrations This guarantees that their clients' ERP systems function at their highest level, effectively meeting their specific business requirements
Check out their service packages and other offerings by clicking on www.skyhigherp.com
Founded on the tenets of employee autonomy, teamwork, and creative problem-solving, Weavik Inc has become an industry leader Weavik is dedicated to digitally transforming organizations and uses custom product development strategies to achieve lasting results. Weavik helps firms achieve long-term success by encouraging them to adopt innovative practices and form strategic alliances.
Weavik is pioneering the transformation of sectors and the creation of a better future for companies everywhere thanks to its forwardthinking strategy and undying commitment to client success
To learn more about their business tech support solutions and services, log onto www.weavik.com
E-Tech, a pioneering company founded in 1991, has emerged as a trailblazer in the realms of cyber security, IT services, and iMIS Hosting Their headquarters are in Toronto, Ontario, Canada, and they are rapidly growing throughout Canada and the United States E-Tech's reach is unbounded, as shown by the fact that the company has clients in all seven Canadian provinces and as far away as Barbados
Their dedication to delivering innovative solutions to organizations of all sizes is shown in the breadth and depth of their offerings, which include hosting, consulting, maintenance, WordPress hosting, cyber security managed services and web design E-Tech has built a strong reputation as a reliable collaborator by consistently exceeding customer expectations and providing cutting-edge services to a wide range of businesses.
Hit the given link www.etechcomputing.com to know more about the company’s offerings.
With their expertise in the different aspects of technology integration, these three companies are taking a technological leap forward into the future The future of tech support and integration in business infrastructures isn’t just bright but a bare minimum necessity for the very foundation of businesses to thrive. As innovation becomes a prevailing trend in world trade and commerce activities, companies like Sky High ERP, Weavik Inc and E-Tech are already leading the frontline with personalized solutions that are sustainable and cost-effective CanadianSME, a magazine catering to small and mediumsized businesses, is an excellent resource for companies that value innovation By subscribing to our magazine, readers can gain access to an array of information and remain apprised of market trends. Stay connected with the CanadianSME community, which values business and entrepreneurship, by following @Canadian_sme on Twitter. For real-time news on business trends, subscribe to CanadianSME's magazine by visiting their website at https://bit.ly/3QslxlH.
Experts often posit that a country’s economic growth heavily hinges on the number of new startups it is able to generate for sound economic growth and expansion With more youth gravitating toward financial independence and prosperity, the Great White North is on a path of financial prosperity like never before One of the top reasons behind this success is the number of opportunities available and an environment conducive to entrepreneurial growth However, this does not imply that efforts and planning from the entrepreneur’s end don’t play a crucial role In fact, a vast majority of these successful startups have one open secret, which is diligent hard work coupled with strategic planning
In light of these facts, CanadianSME Small Business Magazine presents three outliers of the Canadian entrepreneurial panorama who have proven their worth through sheer labour and perseverance These entrepreneurs are Katie Gamble, Founder of Nature Bee; Kaylee Astle, Founder & CEO Blanka; and last but not least, Ania Wysocka, founder of Rootd We are going to discuss briefly their entrepreneurial journeys and how these three strong women business owners made it to the list of successful businesses Join us on this quest to delve into these business owners ’ stories and what makes their businesses resounding triumph
lso known as the “Queen Bee” or owner of the small business called Nature Bee, is a dynamic and one of the most thriving women entrepreneurs in Canada she’s a fierce advocate of sustainability, environment preservation, and women empowerment. Based in Saanichton, BC. Nature Bee has been able to present alternatives for plastic waste successfully Katie is a UVic grad, and this small business was a school project of her final year which she raised from her basement Today, her business is home to sustainable products like cleaning tablets, beeswax wraps, hand-wash items, and Swedish clothes
Katie is also passionate about supporting young female students by employing women-only staff, who are a total of 12 in number, and distributing to more than 360 stores throughout the United States and Canada It is no wonder that she has been featured in BCBusinesss 30 Under 30 magazine and several other media platforms With a foundation standing on core values like sustainability, education, community and impact, Katie envisions a bright future where issues like climate change and wasteful consumption will shape our society
Browse Nature Bee’s official website to learn more about this business venture’s products and how you can support or partner with them. Log onto www.naturebeewraps.ca
Kaylee Astle Founder & CEO of BlankaKaylee Astle is a versatile and accomplished entrepreneur with a wide-ranging professional background that spans various industries. From her early career as an Audit Intern at KPMG Canada to her expertise in capital fundraising, financial management, and large-scale product management, Kaylee has demonstrated exceptional skills in diverse areas Her entrepreneurial prowess has been recognized with accolades such as the BC 30 Under 30 award
In 2021, Kaylee founded Blanka, a groundbreaking technology platform that facilitates business creation at scale This brainchild revolutionizes the cosmetics industry, allowing anyone to start their makeup or skincare line in under 5 minutes With a vast selection of cruelty-free beauty and skincare products, personalized branding options, and dropshipping services, Blanka empowers entrepreneurs to launch their brands with ease and confidence
To learn more about this platform and its services or offerings, plus how you can build a successful enterprise using it, visit blankabrand.com
Ania
For someone who has dealt first-hand with panic attacks and similar mental health issues in her final year of graduation, Ania Wysocka knew she needed to do something about it Rootd, a mobile application designed to help relieve stress and panic attacks, was what Ania came up with, in 2017 The logic behind this ideation was simple, support people through their difficulties by lowering their anxiety levels This revolutionary business venture uses modern tech and psychotherapy expertise to mitigate the time of panic attacks and provide relief in just a few minutes
An interesting fact about Ania Wysocka is that she’s a self-taught graphic designer and animator, so it is evident where her inspiration to help so many people comes from The app ' s freemium model offers core services for free, alongside monthly, annual, and group subscriptions With nearly 305,000 downloads across 153 countries, Rootd holds the No 1 rank for "anxiety and panic attack relief" on App Store and Google Play Ania's goal is to reach 1 million users this year, and during the COVID-19 pandemic, she has been offering free subscriptions. Ania's journey was recently shared at the 2023 Cartier Women’s Initiative, where she aims to expand her mission and collaborate with companies to offer free/full subscriptions to Rootd to their employees
So if you’re looking for relief from your panic attack or anxiety for free, Rootd can be your savior For more information, visit www.rootd.io
The female entrepreneurs discussed above are torchbearers of innovation and positive change in the Canadian society and the larger world community. The Canadian business ecosystem is fortified by the contributions of such leaders to help make this world a better place for all. They inspire motivation and courage to follow our dreams and the right amount of perseverance to achieve our goals We pay the highest regards and honours to these front liners and wish them the best in their future endeavours
CanadianSME, a magazine catering to small and medium-sized businesses, is an excellent resource for companies that value innovation By subscribing to our magazine, readers can gain access to an array of information and remain apprised of market trends Stay connected with the CanadianSME community, which values business and entrepreneurship, by following @Canadian_sme on Twitter For realtime news on business trends, subscribe to CanadianSME's magazine by visiting their website at https://bit.ly/3QslxlH.
In an engaging discussion with CanadianSME Small Business Magazine, Sean Dogen, the President, CEO, and Founder of Expertel, delves into his compelling journey from a local Rogers store employee to a business tycoon Drawing from his 20-year career in the telecommunications industry, he provides insights on utilizing AI and insider knowledge to help companies save up to 35% on wireless bills. Sean shares the trends shaping the future of telecommunications, from pricing to contract structures The conversation ends with sage advice for budding entrepreneurs and his perspective on essential skills for business success
Sean Dogen, a telecom expert, and entrepreneur, began his career as a Corporate Account Executive before founding Expertel Passionate about saving companies money and simplifying telecom management, Seans company has saved businesses over $200 million through contract negotiations, a SaaS product for optimization, and a white glove managed service His expertise and dedication have established him as a trusted leader in the field of telecom cost management
Can you share with us the story of how you transitioned from working at a local Rogers store to becoming the President, CEO, and Founder of Expertel? What motivated you to start your own business?
My transition from working at a local Rogers store to becoming the President, CEO, and Founder of Expertel is a journey that reflects the power of recognizing opportunities and seizing them with determination
During my time at the Rogers store, I found joy in helping customers save money on their cell phone expenses, and my dedication to exceptional service led to an evergrowing circle of satisfied clients Word of mouth spread, and soon people were specifically coming to the store, seeking my assistance based on referrals
One day, driven by curiosity and a bit of boredom, I decided to test the waters by posting a simple ad on Craigslist, offering to help individuals save on their cell phone bills for a small fee. To my delight, I received responses from five interested individuals This was the turning point that sparked my entrepreneurial spirit
As those initial five Craigslist customers were delighted with the savings I provided, they became my champions and began referring me to larger businesses all across Canada It was an eye-opening moment that made me realize the true potential of this venture
Motivated by the immediate demand and inspired by the endless possibilities for growth, I recognized the opportunity to turn this passion into a full-fledged business With determination and a clear vision, I took the leap and founded Expertel
Today, as the President, CEO, and Founder of Expertel, I take pride in our mission to help businesses both small and large, and I continue to embrace every challenge as an opportunity for growth
Throughout your 20-year career, what were some key lessons you learned from working in the telecommunications industry? How did these experiences shape your approach to founding and running Expertel?
Over my 20-year career in the telecommunications industry, I learned the importance of customer-centricity, adaptability to technological advancements, and the value of building strong partnerships These experiences heavily influenced my approach to founding and running Expertel, where we prioritize customer needs, embrace innovation, and foster collaborative relationships for sustainable growth
Expertel utilizes AI and insider knowledge to help companies save up to 35% on their wireless bills. Could you explain how the company leverages AI technology to achieve this? What are some specific examples of how AI has benefited your clients?
Expertel utilizes AI in our wireless expense management product called Expertel iQ AI analyzes usage patterns, predicts costs, audits invoices, and recommends optimized plans. Clients benefit from cost savings, efficiency gains, better decision-making, enhanced visibility, and proactive expense management. AI technology empowers businesses to make data-driven decisions and achieve long-term financial growth
How do you see the future of the telecommunications industry evolving, particularly in terms of pricing and contract structures? Are there any trends or developments that companies and consumers should be aware of?
In the future, I anticipate a mixed effect on costs for customers in the telecommunications industry On one hand, there is the likelihood of data costs going down as competition intensifies, leading to more affordable data plans for end customers As technology advances and data becomes more abundant, service providers may be driven to offer cost-effective solutions to attract and retain a broader consumer base
However, this potential decrease in data costs could be balanced by the added expenses associated with accessing faster technologies, especially with the widespread adoption of 5G While 5G promises unparalleled data speeds and enhanced capabilities, the initial deployment and ongoing maintenance of the infrastructure may lead to premium pricing for customers seeking access to such cutting-edge technologies
Another factor contributing to customers' overall spending is the growing number of devices that rely on cellular data. With smartwatches, connected cars, IoT devices, and various innovations becoming increasingly prevalent, consumers are likely to consume more data across multiple devices This surge in cellular data-enabled gadgets will likely result in an overall increase in customers' expenses for telecommunications services
Moreover, the cost of new smartphones is expected to continue its upward trajectory due to rapid technological advancements As mobile devices become more sophisticated, featuring advanced features and hardware, their manufacturing costs will rise Consequently, customers may need to allocate a larger budget to acquire the latest smartphones offering cuttingedge experiences.
Finally, what advice would you give to aspiring entrepreneurs who are looking to start their own business? Based on your own experiences, what key qualities or skills do you believe are crucial for success in the business world?
For aspiring entrepreneurs, starting their own business requires passion, persistence, and a clear vision Being adaptable and customer-centric is crucial in navigating the ever-changing business landscape Building a strong network and collaborating with others can open doors to valuable opportunities and mentorship
Understanding finances and maintaining resilience will help entrepreneurs weather challenges and setbacks. Embracing innovation and effective communication is key to staying competitive and building trust Continuous self-reflection and a commitment to personal growth are essential for long-term success in the dynamic world of entrepreneurship
We are presently in one of the worst business environments in decades
Our world is on the brink of a full blown European war. Domestically Canada is facing rampant inflation, one of the world’s biggest real estate bubbles, rising interest rates, a housing shortage, and declining productivity.
This situation is an ominous threat to small business, it will also provide opportunities for some
In this article I would like to share some of the insights that I have acquired concerning Small Business and Growth These have been gathered over many years that I have spent as advisor, lender, and senior officer in dozens of assignments
Most importantly I would like to convey the most common perils facing a business that is seeking to grow and how they can be avoided
Many attempts at increasing growth provide limited success or fail This is particularly true concerning organic growth or growth from within, or non-organic growth which is the acquisition of another entity. Mergers or acquisitions often become problematic.
There are many reasons to grow such as; increasing sales, capacity or product line, increasing new clients or markets, diversification A reason that I often see is that expansion is viewed as salvation from distress This view almost always results in failure
This is because the actual reason for expansion is not really understood Also most distressed companies have some significant challenges These include; inadequate quality of data, a shortage of Working Capital, declining sales and margins, and diminished management talent This automatically prevents the formation of a viable business plan for success
It is crucial that any business seeking to expand clearly understands the strategic purpose of expansion It must also understand just how organic or non -organic growth will be accommodated by the existing infrastructure
Favorable conditions for Growth exist if;
There is an increasing demand of its product or services
There is a track record of profits
The existing business has sufficient working capital
The company does have a culture of Performance Management( see Performance Management and Small Business- by Tommy Onich published in SME July 2023)
There are available resources to launch growth of all sorts: personnel, financial, management MIS accounting While these are all important sufficient capital to execute the growth strategy is vital
A clear business plan has been prepared which is dedicated to growth
The first case involved an amalgamated group of Physician practices. This group was the result of an aggressive growth strategy by a single practice. This involved the Acquisition of over 20 individual Physician practices over a relatively short period of time The notion was to create a critical mass to multiply profitability by a large factor
The existing practice was profitable however the amalgamated group was structured such that losses were guaranteed This is because nearly each acquisition was very poorly executed The purchase price by the founding practice was not always at market value And the Physicians joining the group were paid a fixed salary which often exceeded gross practice revenue
Predictably the group began to develop serious operating losses and reached the brink of insolvency Unfortunately the agreement with individual Physicians could not really be redone. They had no incentive to reduce their earnings as their skills were completely mobile. The company ultimately declared Bankruptcy
The second case involves a company that was involved in railroad repair and construction. It was founded by an individual over twenty years ago and had grown profitably at over 50M in sales.
It did lack in the area of Performance Management This was of particular concern in both cost control and the bidding process As a result in began it experiencing losses
At the same time the owner began to aggressively make outside investments This included making a large deposit on a real estate deal that was non refundable resulting in a loss The owner also acquired to other companies in unrelated businesses, also generating losses Ultimately the bank demanded loans and the company filed for Bankruptcy
The current business environment creates more challenges than ever for small business. This environment will also create opportunities for growth.
These criteria apply to both types of growth and their presence significantly increases the probability of success
A quick glance at some real life examples is illustrative
Rapid growth always presents a challenge, grasping at such opportunities without for-thought and planning will often result in great difficulty or even disaster
Preparation should consider conditions favorable for success concluding with a business plan dedicated to the proper execution of a growth strategy
The Canadian economy has greatly benefited from the endeavours of young entrepreneurs Therefore, businesses led by such individuals should be acknowledged for their valuable contributions On May 5, 2023, the Young Entrepreneur Award category sponsored by GoDaddy was the centre of attention at the CanadianSME Awards held at the prestigious Metro Toronto Convention Centre, creating a sense of thrill and anticipation This accolade was designed to recognize the exceptional achievements of young individuals who are driving the Canadian economy forward through their passion, innovation, and unwavering determination Tyler Anderson, the visionary CEO of Disruptive Edge, was awarded the Young Entrepreneur of the Year award among other esteemed nominees. He was well-deserving of the recognition.
The judging panel and industry professionals were impressed by Tyler Anderson's outstanding work in the field of innovation consultancy and strategy Under his leadership, Disruptive Edge has emerged as a global leader in offering innovation-as-a-service and providing expert guidance on organizational innovation structures
Disruptive Edge is a company that aims to assist clients in navigating industry disruptions and transforming from disrupted entities to industry disruptors They have been leading the way in innovation. Tyler's innovative approach and entrepreneurial spirit have been instrumental in establishing the company as a prominent player in the industry
Tyler Anderson's visionary leadership and transformative abilities are evidenced by this prestigious recognition. He has demonstrated the potential of young entrepreneurs to revolutionize traditional industries and drive innovation-based growth in the Canadian business landscape by incorporating fresh perspectives and cutting-edge strategies.
As his influence continues to grow, Tyler and Disruptive Edge are poised to shape the future of business and drive forward a culture of innovation in the years to come
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In close second place was Business Sherpa Group Inc , a trailblazing organization established in 2008 to provide invaluable backend operations support to small and medium enterprises (SMEs). Their commitment to delivering exceptional services has made them a trusted partner over 500 businesses
Rounding off the winner
Sky High ERP, a dynamic company on a mission to optimize business processes and elevate employee happiness and fulfillment With their elegant solutions and a passionate team of consultants, Sky High ERP has become synonymous with efficiency and effectiveness
The CanadianSME extends heartfelt congratulations to all three winners for their outstanding achievements and invaluable contributions to the business community Each company exemplifies the spirit of entrepreneurship, embodying innovation, resilience, and a relentless pursuit of excellence These remarkable organizations serve as shining examples for aspiring small businesses across the country Their entrepreneurial journeys inspire us all to reach new heights and push the boundaries of success
In the realm where modern business models relied heavily on technology, there was one visionary mind who pioneered groundbreaking advancements. On the memorable night of May 5th, 2023, at the Metro Toronto Convention Centre, we came together to celebrate the CanadianSME Awards 2022, the extraordinary accomplishments of the winner of the prestigious Technopreneur of the Year Award sponsored by Xero – Mark Bania, the founder of Contractor Compliance Inc Mark's unwavering commitment to personal and professional development, along with his dedication to fostering an inclusive culture, had a profound impact on promoting global health and safety
This well-deserved recognition celebrated Mark's relentless hard work and unwavering dedication to creating a better workplace Mark's journey exemplified a passion for innovation and a deep understanding of how technology could revolutionize industries Through Contractor Compliance Inc , he not only harnessed the power of technology but also prioritized creating safer and more efficient work environments. His visionary approach and tireless efforts transformed the landscape of compliance management, enabling organizations to navigate complex regulations with ease and confidence
As we applauded Mark's remarkable achievements, we acknowledged the immense impact he had made in the tech industry. His dedication to pushing boundaries and embracing cutting-edge solutions had set new standards for technopreneurs worldwide Mark's exemplary leadership and relentless pursuit of excellence not only propelled his own success but also inspired countless others to follow in his footsteps
The Technopreneur of the Year Award served as a testament to Mark Bania's exceptional contributions and remarkable foresight His visionary mindset and commitment to innovation have left an indelible mark on the business world. By leveraging technology to revolutionize work practices, Mark has shown that the integration of innovation and entrepreneurship can bring about substantial positive change.
The first winner was none other than the illustrious Indigenous-owned business called the eSupply Canada. The company emerged as the champion, revolutionizing the procurement landscape and offering a sustainable alternative to big-box retailers. With a mission to help governments and industries achieve their Indigenous procurement targets, eSupply Canada has demonstrated an unwavering commitment to empowering Indigenous communities.
The Canadian business landscape is now witnessing a gradual rise of Indigenous Businesses, and they definitely deserve to be recognized On the eventful evening of May 5th, 2023, the Metro Toronto Convention Centre was filled with an atmosphere of anticipation at the CanadianSME Awards, 2022, as the highly esteemed RBC Small Business of the Year Up to 10 Employees award category was prominently featured Amongst the eager audience, three exceptional businesses stood out, showcasing their remarkable achievements
Besides eSupply Canada, two other remarkable businesses secured their place among the top winners BISOULOVELY, a magical jewelry brand, claimed second place. Their exceptional achievements, including features in top publications and generating over $1 million in sales in just 24 hours, highlight their remarkable growth and success.
The third winner is To Toronto Inc., a management consulting firm dedicated to bringing foreign entrepreneurs to Canada, proudly clinched the third position. Their commitment to fostering entrepreneurship and facilitating the entry of global talents into the Canadian business landscape has garnered recognition and appreciation.
The legacies of eSupply Canada, BISOULOVELY, and To Toronto Inc will serve as inspiration for aspiring entrepreneurs and small business owners, highlighting the significant potential and transformative impact of small-scale enterprises
CanadianSME Magazine is targeted towards small and medium businesses across the nation to help promote the right approach to running businesses, the tools necessary and the current trends. To subscribe today, click here https://bit.ly/3QslxlH, or for more real-time updates, follow @Canadian_sme on Twitter.
The wise words of former United Nations SecretaryGeneral Ban Ki-moon echoes that "Indigenous people have a vital role to play in the world's future," he said, emphasizing the invaluable knowledge and wisdom they possess. It is with great pleasure that we announce the winner of the Indigenous Entrepreneur of the Year award, none other than Michelle Cameron, the tenacious and visionary founder of Dreamcatcher Promotions!
Michelle's entrepreneurial journey began in 2011 when she established her home-based embroidery business. Through her unwavering determination and unwavering commitment, she transformed Dreamcatcher Promotions into a thriving enterprise, offering a diverse range of printed products and apparel. Her success is a testament to her perseverance and dedication
Michelle encountered several obstacles during her journey, such as financial difficulties and instances of self-doubt Her unyielding spirit propelled her forward, providing the energy and determination needed to conquer any challenges in her path Michelle's impressive accomplishments are a source of motivation for those who aspire to become entrepreneurs They illustrate that with determination and persistence, it is possible to transform one ' s dreams into a tangible reality
Throughout her journey, Michelle faced numerous challenges, including financial strains and moments of self-doubt. However, her indomitable spirit propelled her forward, fueling her passion and drive to overcome obstacles Michelle's remarkable achievements serve as an inspiration to aspiring entrepreneurs, demonstrating that with resilience and perseverance, dreams can be turned into reality
Her achievement is not just a victory for herself but also a recognition of the significant contributions made by Indigenous entrepreneurs The valuable insights and distinctive viewpoints of individuals can provide solutions to critical global issues such as sustainable development and climate change Michelle's accomplishments serve as a prime example of the potential that Indigenous communities possess to shape a brighter future
CanadianSME Magazine is targeted towards small and medium businesses across the nation to help promote the right approach to running businesses, the tools necessary and the current trends. To subscribe today, click here https://bit.ly/3QslxlH, or for more realtime updates, follow @Canadian_sme on Twitter.
Financeit deserves this award for their dedication to maintaining their customers' confidence and privacy. Financeit has safeguarded private information from hackers and other security risks with its meticulous security protocols.
Financeit is a role model for other companies seeking to protect their customers' private data in today's everchanging cyber world Their achievements in this area serve as an example for others to follow, highlighting the significance of making data privacy and security a top priority in the modern digital world.
In an era where technological advancements have become indispensable for businesses, maintaining robust data privacy and cyber security measures is of paramount importance Acknowledging this critical aspect, the prestigious Excellence in Data Privacy & Cyber Security award category sponsored by Cybercatch took center stage at the CanadianSME Awards, on May 5, 2023 The deserving recipient of this coveted honour is none other than Financeit
Using cutting-edge cloud technology, Financeit has established itself as a frontrunner in the industry of point-of-sale financing solutions Financeit’s rapid and straightforward application procedure has changed the game for many businesses in the home renovation, automotive, and retail sectors
CanadianSME Magazine is targeted towards small and medium businesses across the nation to help promote the right approach to running businesses, the tools necessary and the current trends To subscribe today, visit https://bit.ly/3QslxlH, or for more real-time updates, follow @Canadian sme on Twitter
Under Chau's leadership, Paris Jewellers experienced exponential growth, becoming a prominent brand through an ambitious expansion plan. The company gained recognition by creating engagement rings for renowned personalities like Emmy-Award winner DWTS judge Derek Hough, actress Lana Condor, and Bachelorette S11 Kaitlyn Bristowe. Additionally, their commitment to charitable causes raised over a million dollars for various women and childrenfocused charities.
Chau Lui, along with her sister Trang, co-owns Paris Jewellers, a jewellery company founded by their courageous mother, who immigrated to Canada from Vietnam Starting in a small town, the sisters grew the business to 23 stores across Canada with over 200 employees Despite arriving in Canada without speaking English and relying on a Vietnamese-English dictionary to communicate with customers, they transformed their immigrant family's store into a flourishing brand
Chau holds the esteemed position of First ViceChair for The Canadian Jewellers Association and has earned prestigious accolades, including being featured on The Tonight Show Starring Jimmy Fallon and CanadianSME Editor's Choice Award for 2022.
Paris Jewellers' inspiring origin story is a testament to the power of perseverance, grace, and gratitude What once began as a humble dream has now blossomed into a brilliant reality, celebrating every story, every person, every time With an unwavering vision to create lasting joy for customers across Canada, Paris Jewellers continues to thrive and expand, guided by the values instilled by their mom
As we look towards the future, we extend our heartfelt wishes for Chau's continued success and prosperity in all her endeavors
Discover the stunning collections of Paris Jewellers by following this link: www.parisjewellers.com.
The integration of modern technology in small businesses and the journey of starting an ecommerce venture took center stage at the CanadianSME Awards, held at Metro Toronto Convention Centre on May 5, 2023 Amidst an atmosphere of anticipation, the prestigious eCommerce Business of the Year award category sponsored by eBay, celebrated businesses that have harnessed the power of online platforms to revolutionize the way we shop
Hangar9 was announced as the winner with enthusiastic applause and excitement, recognizing their exceptional accomplishments in the realm of eCommerce They have been committed to ensuring client success and satisfaction for more than 40 years and provide a distinctive combination of shopping, experiential retail, and exceptional service
At the turn of the pandemic, Hangar9 was faced with the challenge of entering the eCommerce space, and now 3 years later are seeing the benefits of operating an omnichannel business At the core of their wardrobing philosophy is their Formula to Fashion Success, designed to help their clients get dressed every day in 3 minutes or less When entering this new landscape, Hangar9 ensured there was a continued emphasis on personal styling, providing complete wardrobe solutions and offering exceptional service to their clients This strategy has achieved remarkable online success and allowed them to continue to service their loyal clientele, as well as attract new customers.
This award is a testament to Hangar9's commitment to personalized service and leveraging technology to enhance the customer experience Congratulations to Hangar9 for their exceptional achievements in the ecommerce realm Their dedication to providing innovative solutions, exceptional service, and a seamless online shopping experience has solidified their position as a leader in the industry
As businesses continue to adapt to the ever-evolving digital landscape, Hangar9 serves as an inspiration to aspiring entrepreneurs, showcasing the potential of e-commerce and the transformative power it holds
Women in every field have proven their mettle, and it's high time they were given the recognition they deserve A wave of applause filled the Metro Toronto Convention Centre at the CanadianSME Awards gala on May 5, 2023, as the crowd gathered to honour exceptional female entrepreneurs at the Businesswoman of the Year awards The stage was set to recognize the strength, tenacity, and influential leadership of women in the Canadian business landscape Amidst the electric atmosphere, Stefanie Antunes emerged as the well-deserved winner of this prestigious accolade, earning the title of Businesswoman of the Year Award sponsored by Nerds On-Site.
As the founder of Discover Birth, Stefanie Antunes has been a trailblazer in the field of doula services Discover Birth is Ontario's first and foremost doula agency, offering invaluable support to expectant families Stefanie's unwavering passion for changing the world through positive birth and early parenting experiences has propelled her to the forefront of her industry
Believing that positive birth experiences foster happier, healthier, and closer families, Stefanie has dedicated herself to promoting the benefits of doula support and ensuring its accessibility for all Her pioneering efforts have significantly improved the lives of countless families, empowering them during one of the most transformative moments of their lives
Stefanie's vision, unwavering dedication, and entrepreneurial spirit have rightfully earned her the esteemed title of Businesswoman of the Year Her commitment to making a positive impact on the lives of families sets a shining example for aspiring entrepreneurs across the nation
Her success serves as a testament to the power of feminine strength, resilience, and tactful business leadership As we celebrate her remarkable achievement, let us also applaud the countless other women who are making their mark in the Canadian business landscape, inspiring generations to come
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The 21st century has witnessed some of the most remarkable shifts in the world, which calls for equal rights and privileges given to all races without any discrimination In the same vein, the CanadianSME Business Awards conferred one of its highest honours on Ali Soumah, the Founder of Ali Soumah Business Center Inc Amidst the grandeur of the Metro Toronto Convention Centre on May 5, 2023, a momentous occasion unfolded as the Black Entrepreneur of the Year award category sponsored by HP shed light on the remarkable achievements of black entrepreneurs
With a commitment to fostering equal opportunities for all, the award celebrated the success of entrepreneurs who have excelled in their respective fields Standing tall among the nominees, Ali Soumah emerged as the well-deserving recipient of this esteemed accolade
Ali Soumah's entrepreneurial journey has been nothing short of exceptional, marked by his unwavering dedication to fostering growth within the entrepreneurial ecosystem At the helm of Ali Soumah Business Center (ASBC), a black-owned consultancy, Ali Soumah has provided invaluable guidance to aspiring entrepreneurs, start-ups, and established businesses alike
ASBC has been instrumental in transforming business ideas into reality by providing tailored coaching, mentorship, and support in critical areas such as funding applications and business structuring ASBC has successfully helped entrepreneurs secure vital financing to take their businesses to new heights through strategic partnerships with prominent Canadian entities such as BDC, EDC, IDESO, SOFFII, FedDev, and private investors
Notably, Ali Soumah Business Center has also expanded its reach beyond Canadian borders, assisting Canadian companies in expanding their operations to African countries. By providing a platform for international growth, ASBC has enabled businesses to tap into new markets and broaden their global footprint
The Black Entrepreneur of the Year award recognizes Ali Soumah's outstanding contributions to the entrepreneurial landscape, serving as an inspiration to aspiring entrepreneurs and underscoring the importance of economic equality and inclusivity.
Empowering SMEs with AI: Innovation, Efficiency, and Growth
23rd October, 2023
Metro Toronto Convention Centre, Toronto
