Client Feature: Perla Pereira & Myrna Saramago

We sat down with AWE Loan clients, Perla Pereira and Myrna Saramago to learn more about their new business, Oh My Dog Spa located in Edmonton, AB.

Myrna and Perla were both born and raised in Brazil, however, in 2013, the two met for the first time in Edmonton. 

Perla was temporarily living in the city, while Myrna had re-located to Edmonton full-time with her family. Myrna, a Business graduate and Perla, an Engineer had no idea five years later, they would be opening their own dog grooming salon in Edmonton.

"My family and I moved to the Windermere area and realized very quickly that there were no grooming solutions similar to Brazil. In Brazil, the pet industry is second in the world. Every week you take your dog for a grooming. Here in Canada, it's every four to six weeks. After testing out a number of groomers, we realized what we had in Brazil would be amazing to bring to Edmonton."

While Myrna conducted her market research, Perla worked on obtaining her visa. They found their location and knew that this was going to be the spot for them.

"The builder only had two spots left in this development. He asked if we had a business plan for us to hold the space. I said yes, but I didn't even have it completed yet (laughs). After we had the space I worked non-stop to secure the financing and obtain all the required licenses and certifications. We opened our doors in April 2018."

Securing financing as a new business can be challenging for many entrepreneurs. The two found out about AWE through their personal banker and were able to secure financing with both AWE and ATB to open their business.

"The AWE loan has provided us with the working capital we need to grow the business and maintain our operations. Our Business Advisor has been great to work with and very supportive."

When asked what advice the partners would share to anyone looking to open their own business, both unanimously said: "do what you like and what you're passionate about. If you're doing something just for the money, the chances of it lasting long-term is slim." The two also added that being prepared to work long days in the beginning is essential as is completing market research prior to opening.

"The demand needs to be there. Do your market research and see who and where your competitors are. Location is key, especially as a retail business."

The goals for Oh My Dog Spa in the coming year is to keep operations running smoothly while hiring new employees and grooming 420 dogs per month.

To learn more about Oh My Dog Spa, visit their website or follow them on Facebook.

To learn more about the AWE Loan Program, visit our financing page and our requirements.

Making the Most of the Summer Slow-Down

For many entrepreneurs, business slows down in the summertime. Now that you finally have time to breath, how can you take advantage of the extra time on your hands? Here are five things you can do to ensure your summer is both productive and enjoyable:

1. Get planning
Entrepreneurs are often so busy working in the business that they don’t have time to work on the business. If your day-to-day workload is slower in the summer, this is the perfect time to work on business planning. If you haven’t reviewed your business plan recently, you should do so. As your environment and your goals change, your business plan should be updated to reflect this. Summertime is also a good opportunity to focus on strategic planning, reviewing and setting targets for the upcoming year, and make a marketing plan if you don’t already have one.

2. Expand your knowledge
Regardless of how many years you’ve been in business, there is always opportunity for further learning and professional development. AWE is hosting some great summer workshops on topics such as marketing, market research, and accounting. You can check out our upcoming training events here.

3. Catch up with your contacts
Do you ever say “we should have coffee sometime” to a business contact and then never actually meet up because you’re both too busy? If things are less chaotic for you in the summer, this is an excellent time to call or email your connections and build relationships.

4. Support local businesses and the community
Alberta only gets a few months of hot weather so take advantage of it. Visit your local farmers’ market and check out the unique products that are being made close to home. Eat at a food truck for lunch – you’ll be supporting local entrepreneurs and the food is delicious! 

5. Take a break
Entrepreneurs often remark that for them there’s no such thing as work/life balance, so when you have time to relax, take it! There will always be items on your to-do list, but taking a break to re-energize can actually make you more productive. You can’t be your best self if you’re perpetually exhausted. Take a vacation, or even a staycation. Try unplugging for a weekend (or maybe just an evening) and stepping away from those non-urgent emails.

How do you spend your time during the summer slow-down? Let us know in the comment section below!

5 Things to Consider Before Applying for Business Financing

As an entrepreneur, you’ve probably considered financing at some point for your business. Whether it’s money to help start your business or grow your business, working capital is essential for business owners. At Alberta Women Entrepreneurs (AWE) we provide loans from $30,000 to $150,000 to help entrepreneurs start, build and grow their businesses. While many entrepreneurs are eager to apply for financing, many do not qualify. What is the reason for this?

Many entrepreneurs apply for financing, yet only a small percentage of them are actually ready for financing. How do you know that you are ready to apply for financing for your business? We’ve highlighted five important things to consider before applying for your business loan.

1. Business Plan

A business plan is essential to your loan application, regardless of if you are just starting or looking for money to expand. A business plan shows lenders that you have truly thought this through and have a clear, actionable strategy for growth. A good business plan should include:

• An executive summary;

• Extensive market research proving the rationale behind your company;

• Marketing plan displaying how you plan to gain traction and earn sales;

• Operations plan showcasing the management team, your administrative practices and more; and

• Financial summaries, including projected cashflow for the next two years.

Writing a business plan can be an extensive task. AWE offers regular business plan workshops in addition, we highly recommend utilizing Futurpreneur’s Business Plan Writer. This templated system allows you to fill in the blanks for your own business plan.

A good business plan should be 20-100 pages. The more detailed you are in your plan, the more clearly a lender can evaluate the business and it’s projected success.

2. Security

All lenders require some form of security for loans. At AWE we require a minimum of 30% security on our loans. Sometimes, we may ask for up to 100% security. This means that we ask applicants to pledge some form of assets as collateral for the loan, whether it is your property, vehicle or other form of asset.

We work closely with our loan clients to ensure the health and viability of the business. In the case that you cannot make your loan payments, we do have the right to take possession of the asset used as collateral to regain some, or all, of the amount originally loaned.

3. Owner Equity

Almost all business lenders require some form of owner equity for their loans. With the AWE loan program, we require that applicants have contributed a minimum of 25% owner equity on the total project costs. Here’s what we mean:

If you are asking for a loan for $100,000, we require that you, the business owner show that you will be putting in $25,000 or have already put money into your business worth this amount. Why? By contributing the 25% you are showing your lender that you are willing to invest and take on some of the risk as well. 

4. Credit Score

Your credit score is a record of your past ability to make your payments as required and manage your credit. Each lender has a different score they look for when it comes to loans. At AWE, our business owners must have a minimum credit score of 650.

We recommend requesting your credit score via Equifax prior to applying for lending in any form.

5. Business Activities That Cannot Be Financed

While each lender is different, there are a few commonalities on what banks will and will not finance when it comes to business loans. A few items that AWE will not finance include:

• Owners salary;

• Re-financing existing debt;

• Commission-based businesses, independent agents or commissioned salespersons;

• Pyramid-based businesses, including multi-level marketing programs;

• Franchise Fees;

• Speculative ventures; 

• Intangible goodwill (i.e. business name or reputation);

• Research and development; and

• Purchase of stocks, shares and other non-productive investments.

If you have questions about financing for your business, we would highly encourage you to connect with an AWE Business Advisor or your financial institution to learn more about the requirements and how to ensure your loan application is successful. 

Accessing Federal Grants for Exporting

Changes to CanExport?
Did you know there have been changes to the CanExport grant?  If you were previously ineligible because you already had sales in the US or another market, we have good news! The government has modified the rules; small and medium-sized companies are now eligible for the CanExport grant even if they have had sales in the target market (aka country). 

Thus, you can be eligible for CanExport as long as you have had less than $20K sales per annum in the target market in the last 24 months, or if the target market represents less than 10% of your international sales.

What is CanExport?
CanExport is a federal government grant for small/medium size businesses, with annual revenues within the $200K-$50M range, who are interested in developing new export markets.

The grant can cover up to 50% of your market development expenses for new market development.  Expenses such as business travel, trade fairs, market research and adaptation of your marketing materials for new markets are eligible.  Note that there are ineligible expenses.

This is a 50/50 matching grant to a maximum of $100K. For example, if you spend $200K in market development activities, you may be eligible to receive up to $100K from the CanExport grant.  

CanExport is definitely a good opportunity for small businesses interested in exporting and there is a lot more to know about it. For more information, check out the CanExport program here.

What is the AgriMarketing program?  
Note: If your products or services are related to agriculture, you may not be eligible for the CanExport grant. However, you should check out a similar grant through Agriculture and Agrifood Canada’s AgriMarketing program. 

About the Author

Kath Britton, MBA, CPA CMA, is the Director, Business Development for Women’s Enterprise Centre. Women’s Enterprise Centre is the leading business resource centre for women entrepreneurs in BC, providing business loans, skills training, mentoring, advice and resources from its three offices in Kelowna, Vancouver and Victoria.

WBENC 2018 in Detroit, Michigan is the place to be!

You will want to attend this year’s annual WBENC Conference and Business Fair if you are a woman business owner and you have:

1. Visions of growing your business via export;
2. Interest in or already had experience selling B2B and/or;
3. Capacity to manufacture in larger volumes. 

The WBENC Conference and Business Fair is the perfect opportunity for women business owners in all industries to connect and talk with buyers and supplier diversity specialists of Fortune 500 companies about how your business could become one of their suppliers. Many U.S. corporations are interested in buying from women-owned companies. This year’s WBENC is being held in Detroit, Michigan. To take in all of the events, you will want to arrive in Detroit by late afternoon on Sunday June 17 and head out on Thursday June 21. The Business Fair is on Wednesday June 20th.  

To register for WBENC 2018, it’s as easy as 1…2…3. 

1. Get on with booking your hotel room and paying your WBENC registration. Hotel rooms book up fast and registration is limited so do it sooner rather than later. Here’s the link.
2. Also sooner rather later, connect with BWIT. BWIT is the federal government’s Business Women in International Trade program. Let them know you will be attending WBENC 2018. For the 10th year in a row, BWIT and the provincial women’s enterprise centres (WEC-BC, AWE, WESK and WECM) are working collaboratively to provide you with opportunities to find potential export markets. The sooner they know you’re attending WBENC, the more connections they may be able to find for your business. 
3. Let your provincial women’s enterprise initiative (WEI) staff know you’re attending. If you’re in:

WEC - Women’s Enterprise Centre in British Columbia  

AWE - Alberta Women Entrepreneurs

WESK - Women Entrepreneurs of Saskatchewan

WECM – Women’s Enterprise Centre Manitoba

You do not need to have supplier diversity certification to attend the WBENC Conference and Business Fair. However, it can be helpful to know what supplier diversity certification is before you go to this event as you will hear the term mentioned many times and you will probably be asked if you are a certified diverse supplier. Don’t know what that means, talk to your WEI staff; they will explain this “strange but true” opportunity.  

Finally, if you’re interested in growing your business via export but this whole blog post is super-confusing to you, start with point #3. Contact your provincial women’s enterprise centre; they will answer all your questions and help you decide what’s best for you and your business. 

This blog post was written by Nancy Brommell, Business Advisor with the Women’s Enterprise Centre Manitoba. The western Canadian women’s enterprise initiative (WEI), funded by the federal government’s Western Diversification program, works collaboratively each other and the Business Women in International Trade (BWIT) to support women business owners interested in growing their businesses via export. 

Alberta Women Entrepreneurs Announces 2018 Award Recipients

Edmonton, AB – Yesterday evening Alberta Women Entrepreneurs (AWE) announced the recipients of the 2018 Celebration of Achievement and Entrepreneur Awards at a reception in Edmonton. The annual AWE Awards recognize women who have made a significant contribution to the business community in Alberta.

Since it began in 2012, the program has expanded to honour one Celebration of Achievement recipient as well as female business leaders in three other categories: Emerging Entrepreneur, Emerging Innovator and Upsurge Entrepreneur. AWE is pleased to announce the recipients of the

2018 Awards:

Celebration of Achievement Award Recipient: Eveline Charles, CEO, Eveline Charles Hair Salons and Day Spas

This award pays tribute to an exceptional woman entrepreneur who has built a business in Alberta with a significant impact on the economy and the community. This entrepreneur is an inspirational leader and a role model for women in business.

With six successful salons and spas across Alberta and almost 200 employees, Eveline Charles has dominated the beauty industry for over 40 years. Eveline's determination to become the market leader led to the expansion of her business in 2005 to include the EvelineCharles Academy - a state-of- the-art facility where future beauty industry leaders could harness and perfect their trade. The next venture for Eveline was expanding into custom product manufacturing with EC Labs. Founded in 2016, EC Labs is Canada’s newest beauty, health, and wellness product manufacturer. In addition, EvelineCharles Salons | Spas | Beauty MD has now begun franchising locations as a future expansion strategy.

AWE Upsurge Award Recipient: Amanda Hamilton, Founder and Creative Director, Amanda Hamilton Design

This award recognizes an entrepreneur who has a strong vision and passion for growth. The recipient has built a solid foundation for her business, has experienced growth, and has significant expansion opportunities.

Celebrated for her tenacious and vibrant persona, Amanda Hamilton’s bold and unconventional approach to design and business has made her one of the most sought after interior designers in Western Canada. With over a decade of experience, Amanda Hamilton Interior Design has earned a diverse and extensive portfolio including custom residential homes, multi-family developments, restaurant, office and retail design.

AWE Emerging Award Recipient: Sylvia Cheverie, Owner, Chartier

This award recognizes an entrepreneur who has built a strong, scalable business foundation, has achieved early success and market traction.

As an homage to her culture, Sylvia wanted to introduce French cuisine to her hometown of Beaumont, Alberta. She completed a Kickstarter campaign in order to raise a portion of the capital required to open the French-Canadian restaurant named “Chartier,” which to-date is the most successful restaurant kickstarter in Canada. She acts as a mentor and advocate for other entrepreneurs and local businesses in the area.

AWE Emerging Innovator Award Recipient: Dr. Gina Cherkowski, Founder and CEO, STEM Learning Lab

This award recognizes an entrepreneur who has built an innovation-based business and who has achieved early success with strong market potential.

Dr. Gina Cherkowski is an educational game changer on a mission to ensure all students have access to high quality STEM learning experiences, so they are aptly prepared for our technology-rich world. Dr. Cherkowski believes that all kids can and should be proficient in math as well as the other STEM fields and fights to make this a reality through her work at STEM Learning Lab and Million Women Mentors.

Quote from Alberta Women Entrepreneurs:
“We believe outstanding women deserve to be celebrated. The recipients of this year’s awards have made impactful contributions to their communities and Alberta's economy, and we are proud to recognize them as business role models and inspiring members of our community.”
- Marcela Mandeville, CEO, Alberta Women Entrepreneurs

Quote from Presenting Sponsor, ATB Business:
“Congratulations to all of the incredible entrepreneurs who were named recipients of the AWE Celebration of Achievement and Entrepreneur Awards this year. Small and medium sized businesses are essential to driving our economy forward and the diversity of this year’s finalists showcases what a world class entrepreneurial centre Alberta has become. This year’s winners are each helping to grow our province in their own unique way and ATB is proud to support them and other female entrepreneurs in partnership with AWE.”
- Teresa Clouston, Executive Vice President, ATB Business & Agriculture

Client Feature: Sonia Egey-Samu

We sat down with Sonia Egey-Samu, Partner of Clarity Wealth Counsel Inc, to learn more about her business, the journey as an entrepreneur and mother, and her experience with AWE and the PeerSpark™ program.

Sonia, tell us how your journey into entrepreneurship began.
Well, I worked at several of the big financial institutions in my 10 year corporate career and saw every aspect of what financial advice looked like. I learned all the cookie cutter tools and products being used. But all the while there was an internal conflict since I could never develop to the "mold" and constantly needed to learn more to do more for my clients whose financial lives depended on me. At the height of my corporate career my husband and I were flown to Denver to EACH be awarded as one of the top 30 advisors in Canada within the firm we worked at. It was a really cool moment, and we looked at each other and were so proud in sharing that achievement.

Then from there we went on to start our own retirement planning firm and it definitely wasn't an easy decision! Now we look back just a few years later and absolutely cannot believe the tremendous growth that we've had as a company, as individuals, as a married couple, and as parents.

What is the service you provide?
Our specialization is Tax Efficient Retirement Planning. So when somebody comes to see us, they're finished dabbling, and kind of guessing and hoping, and are now serious about not only completing a detailed retirement plan, but also ensuring that they achieve that plan. And the way we approach planning is extremely comprehensive so "no rocks are left unturned". Clients generally leave our office feeling that "weight" or "worry" being lifted about their financial future. It's what we've been doing for a long time, and we absolutely love what we do!

What would you say is the best part of having your own business?
The shaping of our business is the best part by far. I'm so deeply driven to consistently review how we provide value, and then 10x that. But sometimes as business owners we lose sight of what value really is. And it's so easy to lose sight because there's what you think your client values, and then there's taking the time to habitually ask clients what THEY value and so we've been doing this since day one and shaping our business based on their feedback and their needs.

What have you learned from working with others in the PeerSpark program?
It's definitely been one of the best experiences of my life meeting like minded women and sharing our deepest challenges to be able to work through them quickly. My growth today wouldn't be where it is had I not participated in PeerSpark, I'm very grateful to continue to be a part of it.

What are you most proud of in your business?
It was a tear jerker moment for me when we recently had a few of our long time clients volunteer to do a video testimonial. Listening to their words and what they'd experience has been made me the most proud. I had a good cry (laughing)

Would you recommend entrepreneurship to a friend?
I don't recommend entrepreneurship, just like I don’t recommend how to parent, or how to eat. These decisions should all be based on personal values in my mind. If a friend wanted to talk through the idea of it, I'm there!

How do you manage being a mom and business owner?
First things First by Stephen Covey, it's a good read! I schedule each week based on my core values. I get total fulfillment from being a Mama, a business owner, and all the other hats I wear.

Define your work life balance
Hmm, I'd probably say to maintain a level of homeostasis. To keep contributing to my family and my business, I need to make sure I keep my cup full so that I can perform at a high level, be present, feel healthy and organized in my life.

Would you recommend PeerSpark to other entrepreneurs?
I cannot speak highly enough about PeerSpark and the positive impact it has made on my life. If someone out there is thinking about it and needs to chat before making the leap I'm more than happy to share my experience.

To learn more about Sonia and Clarity Wealth Counsel Inc, visit their website at www.claritywealthcounsel.ca.

If you have questions regarding AWE or our PeerSpark™ program, visit our PeerSpark™ page to learn more. 

2018 Celebration of Achievement Award Winner Announced

Beauty tycoon, Eveline Charles, named 2018 Celebration of Achievement Award Winner

Alberta Women Entrepreneurs (AWE) is pleased to announce Eveline Charles as the
recipient of this year’s Celebration of Achievement Award, which recognizes an exceptional woman entrepreneur who has built a business in Alberta with a significant impact on the economy and the community.

The Alberta-based Founder and CEO of EvelineCharles Salons | Spas | Beauty MD will be recognized at the 2018 Celebration of Achievement award reception on April 25th at the Sutton Place Hotel in Edmonton, sponsored by ATB Financial.

“We are honoured to recognize such a deserving person with this year’s Celebration of Achievement award. Eveline is a true business leader and inspiration; she aims high and remains focused on achieving her vision,” explains Marcela Mandeville, CEO of AWE.

With six successful salons and spas across Alberta and almost 200 employees, Eveline Charles has dominated the beauty industry for over 40 years. Eveline's determination to become the market leader led to the expansion of her business in 2005 to include the EvelineCharles Academy - a state-of- the-art facility where future beauty industry leaders could harness and perfect their trade.

The next venture for Eveline was expanding into custom product manufacturing with EC Labs. Founded in 2016, EC Labs is Canada’s newest beauty, health, and wellness product manufacturer. In addition, EvelineCharles Salons | Spas | Beauty MD has now begun franchising locations as a future expansion strategy.

“I am very grateful to receive this prestigious award. It is really humbling to be a recipient of this award in the presence of so many female entrepreneurs and leaders. This honour means so much to me, as entrepreneurship runs through my veins. I am so passionate about driving, growing, and reinventing my business every day to be a leader in our industry,” Charles said of her win.

"Growing a business into a successful and sustainable enterprise requires passion, perseverance and a plan. Eveline is a trailblazing entrepreneur, whose vision and leadership has enabled her to grow her business in a lasting and meaningful way. She's an inspiration so many women, and entrepreneurs across this province and country," says Teresa Clouston, Executive Vice-President of ATB Business & Agriculture. "On behalf of the ATB team, I am pleased to congratulate Eveline and all the awards winners."

At the reception on April 25, Alberta Women Entrepreneurs will honour Charles and her role as a leader in female entrepreneurship, as well as announce the recipients of three other award categories including Emerging Innovator Award, Emerging Award and Upsurge Award.

Anyone wishing to celebrate the outstanding women entrepreneurs in our province is invited to attend the reception. Tickets for the can be reserved here.

2018 Alberta Women Entrepreneurs’ Award Finalists Announced!

Edmonton, AB - Alberta Women Entrepreneurs (AWE) is pleased to announce the finalists for their annual AWE Awards which recognize women who have made a significant contribution to the business community in Alberta. There are three categories with multiple finalists named in each, as well as one Celebration of Achievement Award recipient who is recognized for being an inspirational leader and role model for women in business. 

The recipients of the awards will be announced and celebrated at the annual AWE Award Reception in Edmonton on April 25, 2018 at the Sutton Place hotel. 

Listed below are the award categories and finalists who have each demonstrated an entrepreneurial spirit through perseverance, the courage to take risks and the ability to seize opportunity.

Awards & Finalists

AWE Upsurge Award

This award recognizes an entrepreneur who has a strong vision and passion for growth. The recipient has built a solid foundation for her business, has experienced growth, and has significant expansion opportunities.

Finalists:

• Caitlin Zietz - Caitlin K. Zietz Professional Corporation
• Amanda Hamilton - Amanda Hamilton Design

AWE Emerging Award

This award recognizes an entrepreneur who has built a strong, scalable business foundation, has achieved early success and market traction.

Finalists:

• Sylvia Cheverie - Chartier
• Nicole Bird - RSVP Design
• Kathy Leskow - Confetti Sweets

AWE Emerging Innovator Award 

This award recognizes an entrepreneur who has built an innovation-based business and who has achieved early success with strong market potential.

Finalists:

• Connie Stacey - Growing Greener Innovations
• Gina Cherkowski - STEM learning lab
• Charity Callahan - Zen Earth Corp

Celebration of Achievement

Since 2012, the annual AWE Celebration of Achievement award has paid tribute to an exceptional woman entrepreneur who has built a business in Alberta with a significant impact on the economy and the community. This entrepreneur is an inspirational leader and a role model for women in business.

2018 Recipient: Eveline Charles

“This is our sixth year hosting the AWE Awards and the resilience and enthusiasm of our nominees continues to amaze me. We are excited to recognize outstanding women who have made significant contributions to our community and economy.” 

- Marcela Mandeville, CEO, Alberta Women Entrepreneurs

Presenting Sponsor

Media Contact

Stephanie Woods
Marketing Manager
Alberta Women Entrepreneurs (AWE)
marketing@awebusiness.com 

Women Entrepreneurs Paving the Way

On March 8, 2018 we celebrated International Women's Day. Now, more than ever, there's a strong call-to-action to press forward and progress gender parity. There's a strong call to #PressforProgress motivating and uniting friends, colleagues and whole communities to think, act and be gender inclusive.

In a recent report on women entrepreneurs and innovation completed by the Beacon Agency, Government of Canada, Carleton University and BMO Financial Group, key facts and trends were identified on how important women entrepreneurs are to our economy and communities.

For example, did you know that women-led businesses today represent 50% of all new businesses? (BDC, 2017). In addition, among all small and medium-sized businesses (SMEs), 47% are entirely or partly owned by women (Statistics Canada, 2012). 

In celebration of International Women's Day, we are very excited to announce our new partnership with BDC as a member of Women’s Enterprise Organizations of Canada (WEOC) to better support women entrepreneurs. 

The agreement adds on to BDC’s commitments to support women entrepreneurs, namely new targets of $1.4 billion in lending to women-led businesses by 2021 and $200 million in investments in women-led technology firms.

Read the full release here.