Encourage Canada’s young entrepreneurs to reach potential
2012 awards competition begins today
In my role at the Business Development Bank of Canada, meet lots of young entrepreneurs in every part of the country. When I ask why they’re in business, the reply invariably is that they love the freedom of being their own boss and they want to make a difference.
To turn their dream into reality, they have to build a business from the ground up, often starting with little more than hard work, ingenuity and determination. They relish the challenge and take pride in seeing customers respond to what they have created.
One of those young entrepreneurs is Pierre Martell in Moncton, N. B. Martell works in an industry that is almost as old as humanity: He builds homes. But, unlike most builders, he’s learned to make savvy use of the Internet not only to attract customers but also to respond to their greatest fears — that their home won’t be ready on time or on budget. Martell Home Builders website allows tradespeople, suppliers and clients to find information about a home and follow its construction during a “99- day countdown” to completion. People love it and business is booming.
Many young entrepreneurs tell me they get deep satisfaction in providing a livelihood for employees and contributing to the health of their communities. In many cases, their business is nothing short of the embodiment of their deepest hopes for creating a better world.
They have to build a business from the ground up
For Elana Rosenfeld and her husband, Leo Johnson, that means leaving their Kicking Horse Coffee Co. in the interior of British Columbia for up to a month at a time to travel to Mexico, Nicaragua, Peru and other countries to buy coffee from farmers’ co- ops. They have nurtured strong relationships in these countries that are crucial to the success of both local communities and their company in Canada. It’s working: Kicking Horse is now the leading organic fair trade coffee company in Canada, selling about 1.4 million kilograms a year.
Martell and Rosenfeld and Johnson are former winners of BDC Young Entrepreneur Awards. Today, marks the launch of the 2012 award competition with a bold, new format that shines an even brighter spotlight on Canada’s best young entrepreneurs.
BDC invites entrepreneurs aged 18 to 35 to submit a short video, presenting an innovative project designed to make their business more successful. Canadians will vote from among 11 finalists — one representing each province and one for the territories — for the project they believe is most deserving of the $ 100,000 Grand Prize for Innovation.
The goal is to recognize, encourage and support young entrepreneurs who put innovation at the heart of their business strategy. For more details, I invite you to visit bdc.ca/yea.
They get deep satisfaction in providing a livelihood for employees
Why do we believe it’s so important to encourage innovative young entrepreneurs? Because Canada needs them now more than ever. They contribute to the vitality of our communities and help boost our standard of living. In this regard, it’s important to remember that small and medium- sized businesses are the engine of our economy. They account for 99.7% of all Canadian businesses and 64% of private- sector employment, including the lion’s share of new job creation.
What’s more, young entrepreneurs can show the way to a more ambitious, productive and innovative country. They have grown up immersed in the digital technologies that are revolutionizing the country’s economy. They have come of age in a Canada open to international competition. This is the natural order of things. They don’t see this as problems to be overcome, but rather opportunities to be seized.
We should celebrate their achievements and encourage them to reach their full potential because when they succeed, Canada succeeds.