New Women Entrepreneurship Fund Announced

Exciting news for women entrepreneurs in Canada!

Last week, the Honourable Mary Ng, Minister of Small Business and Export Promotion announced that the Government of Canada will provide direct funding to women-owned and women-led businesses through the Women Entrepreneurship Fund. The fund will invest $20 million over two years, and will provide up to $100,000 in non-repayable funding that women can use to grow their businesses. The fund is part of the larger Women Entrepreneurship Strategy, which also includes an ecosystem fund created to strengthen capacity within the entrepreneurship ecosystem.

In order to be eligible the business must be:

• Women-led and women-owned

• A for profit organization

• Up to 499 employees

• In business a minimum of two years

Priority will be given to entrepreneurs in one of these applicant groups:

• Diverse women entrepreneurs (such as women with disabilities, Indigenous women, women in rural or remote regions, recent immigrants, visible minority women, women from Official Language Minority Communities)

• Businesses with products or services related to one of the Economic Strategy Tables sectors

• Projects seeking to pursue market opportunities abroad

The funding can be used for a variety of things, but you should note that it cannot be used to refinance debt, purchase assets above fair market value, land acquisition, the cost of amortization, or goodwill.

Applications are being accepted online and the deadline to submit is November 15 at 11:59pm PST. The detailed criteria and information on how to apply can be found on the Government of Canada website.

Client Feature: Nicole Matos

After years of working in the construction space as a project manager, Nicole Matos made a major change in her professional life. She branched out on her own and became CEO and Founder of Rivet Management, a firm that creates unique and branded spaces for commercial and residential clients.

While many businesses saw economic challenges in 2009, Nicole Matos saw opportunity.

“I focused on project managing tenant improvements at a local construction company, but in 2008, we really started to feel the economic slowdown. I knew this was the perfect time to start working on building my own business.”

When Nicole was laid off from her job, it could have been devastating, but she embraced the change head-on. Nicole launched Rivet Management, and never looked back. What started as a one woman show has turned into a team of four full-time employees, and many subcontracted trades, with the intention to hire an additional two to three staff this year alone.

While her business has significantly grown, Nicole still has the same values as those early days.

“I am not a believer that business is just business. People are behind the business and I do business with those people, not just those businesses. I still use the same electrician from back in the day at my first company. I know his entire family now. The same goes for my employees. I value them and ensure they feel respected.”

Nicole admits that the male-dominated construction industry can be slightly old-fashioned at times. “I’ve been to meetings where people assume that I am the Interior Designer and my husband is the Owner of the company. People are surprised when they learn that I managed all our construction for 8 years before my husband joined and although I do the design, I actually have more education and experience on the construction side of our business.”

With eight years under their belt, Rivet Management is preparing for rapid growth in 2018. A new commercial space is in the works, and Nicole hopes to become part of a community.

Working with AWE’s Business Advisors regularly, Nicole has been able to define her marketing strategy, gain valuable advice and find a support network. “As we started to grow, I realized I wanted to align myself with other women entrepreneurs. As a Métis woman, I wanted to ensure that we started building relationships with the right types of groups, including AWE. AWE has been such an amazing resource for me and my company.”

To learn more about Nicole and Rivet Management, visit rivetmanagement.com

Building Export Markets in Europe and the U.K.

by Nancy Brommell, Women’s Enterprise Centre of Manitoba

What: An exciting trade mission!

Who: Canadian women business owners who want to expand their business via export

Where: Germany and England

When: November 4-10, 2018

How: email the BWIT team to sign up

Business Women in International Trade  (BWIT) is part of the federal government Trade Commissioner Service (TCS). The team is made up of federal government trade commissioners who specialize in helping Canadian women entrepreneurs internationalize. Trade commissioner Lynne Thomson (third from right), attended SHEday 2018 in Winnipeg and connected with export-oriented women business owners Cindy Boissonneault (second from the left), owner of Poco Inspired and Pina Romolo (third from the left), owner of Piccola Cucina.

One of the primary ways that BWIT helps business women expand internationally is by organizing informative trade missions, like this upcoming one to Europe. With stops in Hamburg and Stuttgart, Germany and London, England, this trip will feature a series of events designed to open new markets in Europe for Canadian women business owners.

Why Europe?

With the renegotiation of NAFTA currently in process, we hear a lot these days about international trade agreements. In recent months, Canada signed the Comprehensive Economic and Trade Agreement (CETA) with Europe.

In general, it is an advantage to you as an export-oriented business when Canada has a trade agreement with the country to which you want to export. As explained on the Government of Canada Export Market Research web page, “trade agreements help to eliminate or reduce tariffs on Canadian exports, which can increase your competitiveness in foreign markets.”

A trade agreement does not create excitement about export opportunities, but trade missions do! If you choose to invest and participate in this upcoming BWIT trade mission to Germany and England, you will benefit from on-the-ground market research, making business connections, learning the nuances of the market place, and having a better understanding of how your business could penetrate that market.

For more information on this exciting trade mission to Europe, email bwit@international.gc.ca or visit the BWIT website.

The four women’s enterprise organizations, Women’s Enterprise Centre in BC (WEC-BC), Alberta Women Entrepreneurs (AWE), Women Entrepreneurs of Saskatchewan (WESK) and the Women’s Enterprise Centre of Manitoba (WECM) work collaboratively with each other and with BWIT to support women business owners who are interested in exporting. All organizations are members of the Women’s Enterprise Organizations of Canada (WEOC).

About the Author

Nancy Brommell is a Business Advisor with the Women’s Enterprise Centre of Manitoba. Blog post originally published September 2018 at www.wecm.ca

Fall Message from Marcela Mandeville

“A rising tide lifts all boats”, is an expression I have heard and said a lot lately. It applies to so many things, to business, to entrepreneurship, to inclusivity, and in the case of the words used by the Hon. François-Philippe Champagne while on a recent trade mission to Detroit, international trade.

Anyone who knows me knows I love international business. Over the course of my professional career, I have worked to build relationships and business success across borders. AWE’s participation in trade missions has fuelled this passion and showcased the exceptional ideas and talent that can be shared to build innovative, viable solutions to challenges around the world. This year’s Business Women in International Trade mission to the WBENC Conference and Business Fair brought me back to Detroit, which holds a special place in my heart after living there for too short of a time. “Lifting all boats” was especially meaningful when I looked across the Detroit river at our Canadian flag in Windsor and thought about all the trade that moves across the busy border between our two countries.

People often ask me what I love about the Motor City. It really is simple, I loved the people I called friends and the determination, scrappiness and resiliency of a city that continues to fight to rise from the ashes of very difficult economic times and reinvent itself. As someone who has experienced dark times in Alberta during busts in our economic cycle, I can appreciate the importance and difficulty of facing this challenge. The Detroit I admire is a proud, resourceful city full of a beautiful mix of diverse, hard-working, and innovative people who work hard to improve their community because they love where they live, similar in many ways to Alberta, the place we call home.

Working together to achieve goals is something we live everyday at AWE; whether it is through our relationships with entrepreneurs, partners, volunteers, funders, or amongst our team. There is such value in building meaningful connections to achieve success. For example, on the trade mission I witnessed and participated in an incredible amount of inspiring and informative conversations from which you could feel the energy created, and see relationships and opportunities being formed.

It is impressive to see how a community gathers to support each other, to learn, to make new connections, and to embrace change and opportunities. I hope you’ll join me in continuing to work together to lift all boats, especially those with women entrepreneurs at the helm, to build success for Alberta businesses and our community.

Always with gratitude
Marcela

Client Feature: Ellen Christopherson

Ellen Christopherson is the CEO of clearGRID. clearGRID is focused on data collection and analysis to solve business problems for utility companies. By using technology to replace manual activities with automation, Ellen is paving the way for significant change in the utility industry, one meter at a time.

Ellen Christopherson is proof that age is just a number. At 31 years old she has started two successful companies, earned her private pilots license, and completed her Master’s Degree in Sustainable Energy Technology in Holland.

“After graduating from my Master’s program, I decided to stay in Holland and work in the utilities industry. My job was focused on data and custom software solutions and from there I was able to really understand how the utilities industry works.”

After some convincing from her dad, Ellen decided to move back home to Canada where she started Elevated Robotics, a company that provides UAVs (drones) for surveying, mapping and inspections. The use of these aerial images and video found Ellen back to her utility roots, and she quickly realized that she had a new business solution on her hands.

In 2015, Ellen launched clearGRID. Rather than using drones, clearGRID uses their fleet of aircraft and pilots to fly at 4,500 feet above ground to read utility meters.

Financing from friends and family helped clearGRID get off the ground, however, in 2017 they realized they would need more capital in order to reach new heights.

“It has been hard to find financing for the business if you don’t want to give up everything right away. With most private equity companies and angel investors, you quickly find that everything is owned by someone else. I was strict that I wanted to stay in control of clearGRID. That’s when I came to AWE."

Since receiving a loan from AWE, clearGrid has continued to grow, and has secured a contract with their biggest client, ATCO. They are now working with them to read over one million utility meters per month across the province.

With international expansion on the horizon, clearGRID is showing no signs of slowing down. They now have a team of 20 people, and Ellen plans to expand extensively across North America in the next three to five years.

“My advice to anyone just starting out, especially in the innovation space is that sometimes it takes 100 no’s to get a yes. Keep trying and re-invent your business model with feedback. Everything you do in business is an experiment, not a failure."

To learn more about Ellen and clearGRID, visit cleargrid.io

Why You Should Take Branding Seriously

by Jocelyn Davis, The Virtual Effect

It took courage didn’t it? You needed to be courageous enough to believe in your business idea and maybe even more challenging was to find the courage to believe in yourself. To believe that you are more than capable of making this happen. To believe that you are enough to make your dream a reality. It isn’t always going to be pretty and glamorous like many social media feeds lead us to believe it is, but when you are doing what lights you up it will absolutely be worth it.

Now that you have made the decision to go for it your to do list grows exponentially and the overwhelm sets in. With all that you need to do why is branding so important and why does it deserve your resources?

You know who you are, you know what your business is about, what you stand for, and the impact you want to make on your clients, but the question is, do you know how to effectively and consistently communicate this? You may fear choosing the path and focus that is authentically you as it might drive people away and you’re right, it will. But this is nothing to fear, this is what you need to embrace as it will draw in the right clients and elevate the overall experience.

Branding is the foundation from which this authentic communication of what you do, who you are, and what you stand for is built. Branding is far more than just a logo, it includes other elements such as:

 Logo
 Fonts
 Colours
 Graphic elements
 Brand Believer (my coined term for
your ideal client)
 Brand voice
 Social media handles
 Website address
 Email address
 Customer experience map
 Imagery style guide
 Vision statement
 Mission statement

Some of the above are considered tangible branding elements, some are intangible. The biggest intangible, and the indication of branding success, is how a client’s interaction with you made them feel. You want their experience with you to elicit all of the words you associate with your brand and in order to achieve this you need to do all of the above and more on brand. When you are consistent it builds trust and people will begin to believe what you say and feel like they are getting to know you. And we all know that people do business with people they know, like, and trust.

Here is a quick checklist you can use to assess where you are at in your branding
journey and what might need your attention:

Answer Yes or No to the Following Questions

Do you have a vision and mission statement?
Have you detailed out your ideal client?
Do you have brand colours you consistently use?
Have you identified your brand voice?

If you have answered yes to the above take it to the next level and evaluate your website and social media with the above details in mind. Be objective and don’t be afraid to ask others for their opinion.

If you answered no to most of the above set aside some time to go through the branding process, either on your own or with a professional. By establishing this foundation your communication and decisions become a lot easier.

Happy branding!

About the Author
Jocelyn Davison is the founder of The Virtual Effect. The Virtual Effect provides event
planning and branding services to startups, small, and medium sized businesses.
Impact and experience is at her core as she makes the connection between vision and
image for business owners.

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.