Whether you knew or not, we should all take the time and show our appreciation for every contributor, organization and person involved in small business.
Small businesses account for 98% of all employer business Canada and approximately
48% of Canadians work in a small business environment (
stats via CBC).
Those are truly spectacular numbers! So what is it exactly that makes Canadian small business such a huge success? There are a number of things:
Customer Support
Canadians shop and do business with small businesses as they are able to have a much more personal connection than they do with big conglomerates.
According to Rogers,
85% of Canadians agreed that convenience and personal service are the reasons they support small business. And as I outlined in my previous post, personal offline and
online customer service is crucial for retaining long-term customers. People enjoy having a connection beyond just monetary exchanges, and Canadian small businesses hold a huge advantage in that department!
Government Support
Starting or running a small business can be a daunting task. People who do not have a business background find it hard to procure funding, maintain accurate financial records or simply promote their business effectively. Enter local government and small business support organizations: from financing to coaching there are a plethora of resources available. Below you will find a few of examples (may be somewhat biased for the Waterloo Region):
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Small Business Centre Waterloo (available in majority of cities across Canada)
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Action Plan Canada
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Government of Canada - Small Business Financing Program
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Canada Business Network
Entrepreneurial Spirit
Growing up and living in Kitchener-Waterloo, also known as the
tech sector, it was easy to get inspired by all of the local small business (at least what started as a small businesses) success stories:
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Vidyard
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BlackBerry (formerly Research In Motion)
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OpenText
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PEER Group
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D2L (Desire2Learn)
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Quarry Integrated Communications
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Thalmic Labs
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Plum
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Communitech
That is just to name a few in the Kitchener-Waterloo area. Entrepreneurial spirit lives strong all across Canada and is embraced by the entire nation. It has become the staple of Canadian economics - people are encouraged to explore great ideas and turn them into a viable businesses eh!
Some are even changing the world as we know it: have you heard about
Myo?
Youth Encouragement
Giving confidence to young Canadians and their business ideas is critical for continued success of small business. Future generations need to have access to not only resources but knowledge and support which helps nurture long-term success.
Organizations such as
Futurpreneur Canada provide mentoring, resources and knowledge that allows young Canadians to turn their ideas into future businesses. Local schools, universities and colleges are also implementing services beyond degrees to help students pursue their business dreams. Three such local Kitchener-Waterloo examples come from post-secondary institutions:
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Wilfrid Laurier University: Innovation + Entrepreneurship
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University of Waterloo: Velocity Garage
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Conestoga College: Centre for Entrepreneurship
