Aboriginal community profits from diversity, business success

Entrepreneurial spirit thrives in proper medium

Aboriginal business is a fast-growing sector of the Canadian economy. According to recent TD Economics estimates, aboriginal development corporations generated $8-billion in revenue in 2011, operating in sectors including airlines, mining, tourism, energy, manufacturing, environmental services and more. Small, independently owned businesses fared equally well, recording revenue of almost $1-billion, more than doubling their income over the past decade.

Statistics indicate that, despite ongoing social issues, there is growing business capacity in aboriginal communities and good reason to be hopeful about the future. According to a 2011 Canadian Council for Aboriginal Business survey, more than 250 economic development corporations are active in Canada today, with approximately 75% having been in business for 10 years or more. TD Economics’ forecast says combined revenue for development corporations and small business will reach $13-billion over the next five years.

Training and education remain high priorities, with several development corporations identifying employee training, recruiting and retention as important issues. Larger still were issues surrounding access to capital, with 60% noting concerns about access to credit.

Source: National Post, February 2, 2012

How Google Analytics Can Help Entrepreneurs

Tracking stats on visitors to websites and social media sites can be a challenge for small business owners. Google Analytics (which is FREE – that’s right, no charge) can help.

This article by Mihairi Petrovic in Entrepreneurial Woman explains how you can use this tool to your advantage.

Summer Company 2012 – Applications Now Being Accepted!

Good News! Summer Company 2012 is now open. If you are a student returning to school in the fall and are between the ages of 15 to 29, you may be eligible for funding and business training. The application deadline is May 7, 2012, or sooner if the program reaches capacity. Apply today by clicking on the following link: http://www.ontario.ca/summercompany

For help with your business plan, email smallbiz@saugeenshores.ca or call our office at 519-832-2082. We’ll be happy to help!

Four County Labour Market Planning Board

Check out the Four County Labour Market Planning Board’s website for events and resources to help you run your business!

Four County Labour Market Planning Board.

World beaters for startups: Canada named a hot spot for entrepreneurs

Canada is one of the best countries among the G20 for small business owners, but there is still plenty of room for improvement, Ernst & Young said in a new business barometer released Monday. The study, prepared for the G20 Young Entrepreneurs Summit in Nice, France, surveyed 1,000 entrepreneurs across the G20 and found Canada is among the leaders in several areas, including business confidence, startup costs, strong banking sector, and good coaching and education programs for young entrepreneurs. Canada was also named the top entrepreneurial hotbed of all the G20 countries by a wide margin in a recent report from McKinsey & Co. prepared for the G20 YE summit.

The Ernst & Young study reported that more than 70% of Canadian entrepreneurs surveyed were confident in their own country, by far the highest figure. Canada also averages almost nine new businesses registered for every 1,000 people in a given year. Part of the reason for this is a well-established culture of entrepreneurship, with 88% of Canadians saying the country’s culture encourages making your own way in life. Canada also leads in startup costs and ease of registry as it only takes one procedure and on average five days to start a business, while the average cost comes in at only 0.4% of per capita income.
“Canada does sound like the startup paradise for G20 counterparts,” the report said, citing BizPal as an important online government service that simplifies the permitting and licensing process for entrepreneurs.

As for funding, 52% of Canadian respondents said they had easy access to funding, compared with only 36% across the G20; however, 38% of Canadians said bank lending funding had deteriorated, and 50% said access to venture capital had worsened. Canada also ranked high in terms of education, with 72% of Canadian respondents seeing an improvement in coaching programs in the past five years, and 50% calling for coaching as the No. 1 priority in the next three years to improve student perception of entrepreneurship.

Source: National Post, 31 October 2011

Majority of Canadian Small Business Owners Don’t Have Succession Plan: TD Waterhouse Survey | Gifts and Tablewares

Majority of Canadian Small Business Owners Don’t Have Succession Plan: TD Waterhouse Survey | Gifts and Tablewares.

Scotiabank Study Reveals Canadians Willing to Go Extra Mile to Support Small Business | Gifts and Tablewares

Scotiabank Study Reveals Canadians Willing to Go Extra Mile to Support Small Business | Gifts and Tablewares.

Boomers Turn to Boomerpreneurs: BMO

Canadian Boomers will be making the most of their down time, with millions expected to launch “semi-retirement” businesses as their careers wind down, according to a report from the BMO Retirement Institute. The report found that more than half of boomers (52%) start their own businesses because they want to work for themselves; only 11% cited job loss as the reason for launching a new company.
The “Boomerpreneur” trend is expected to grow as Boomers start to retire in greater numbers over the next few years. This year, the first of the Boomers became eligible for retirement (65 years old); the number of self-employed Canadians aged 55 years and older doubled between 1990 and 2008.

Source: Marketwire 01 August 2011