Women's Entrepreneurship Day 2022

Celebrated by over 144 countries, November 19th, 2022 marks Women's Entrepreneurship Day, a chance to recognize the accomplishments and contributions of the women entrepreneurs in our communities who work tirelessly to drive economic growth, create vibrancy, and inspire the next generation of girls.

In Canada, over 1 million women are entrepreneurs, with 17 per cent of Canadian small and medium-sized businesses being owned by women. And that number continues to grow! In fact, over the past 40 years, the number of female entrepreneurs has quadrupled. The Government of Canada has identified that continuing to increase women's participation in the economy could add up to $150 billion towards Canada’s GDP.

That’s why it is so important that we build supports our women entrepreneurs can rely on. At Alberta Women Entrepreneurs we take that commitment seriously. Alongside our training and workshops, business advising, and mentorship opportunities, we’re working to transform the business environment for women. Earlier this year we worked with partners across the province to publish our Impact Paper, Leveraging Economic Opportunities for Women in Alberta, a framework that will help systematically address gaps for women entrepreneurs, current and future.

And Alberta is no stranger to incredible and hard-working women entrepreneurs. Alberta Women Entrepreneurs recently celebrated four inspirational women at the 2022 AWE Awards for their contributions to the province: Jennifer Schaeffer, owner of Onlea Enterprises; Vanessa Marshall, owner of Jack59 Inc.; Breanne Everett, owner of Orpyx Medical Technologies Inc.; and Manjit Minhas, owner of Minhas Breweries, Distilleries, and Winery. These women are a true example of what’s possible when women are full participants in entrepreneurship.

This Women's Entrepreneurship Day take the time to visit and support your local women-owned businesses. Their contributions continue to be vital to the health and liveliness of our province and country.

Celebrating the 2022 AWE Award Recipients!

Supporting the entrepreneurs in our community means recognizing the amazing work women are doing and celebrating their successes. This past month, Alberta Women Entrepreneurs had the pleasure of honoring four outstanding Alberta women for their dedication and commitment to the Alberta business community at the 2022 AWE Awards.

Above (left to right): Jewel Buksa, Jennifer Schaeffer, Breanne Everett, Vanessa Marshall, Marcela Mandeville.

Celebration of Achievement Award

Awarded to an exceptional female entrepreneur who has achieved recognizable success and acts as a role model for women in business. This visionary woman is an inspirational leader who has built an entrepreneurial venture in Alberta that has made a significant impact on the economy and the community.

Recipient: Manjit Minhas, Minhas Breweries, Distilleries and Winery

Over 20 years ago, when she was 19, Manjit and her brother Ravinder set out to make a spirit that they could sell in local liquor stores. In just a short time, that idea snowballed into over 90 brands. Now, Manjit is the founder and owner of Minhas Distillery, Minhas Brewery, and Minhas Winery, earning her enough of a reputation to take a role as an investor on Dragon’s Den. Manjit is a true example of the vigour and vision that Alberta women entrepreneurs have in creating successful and long-lasting businesses on the global stage. Though she has faced challenges throughout her career, she reminds other entrepreneurs: failure is not the opposite of success; it’s a part of success.

Emerging Entrepreneur Award

Awarded to a female entrepreneur who has built a strong, scalable business foundation and has achieved early success.

Recipient: Jennifer Schaeffer, Onlea Enterprises

Onlea is more than an online learning platform; it’s a commitment to accessible, masterful, and quality education that helps their clients grow. From the opioid crisis to the proper use of pronouns, this empathy-led team is creating meaningful content while revolutionizing what it means to learn online. Jennifer focuses on combining different learning styles with gaming techniques, graphic design, and film to produce content that’s engaging. Her business recently launched a research and development project that will utilize artificial intelligence to further individualize the learning experience.

Indigenous Entrepreneur Award

 Awarded to a leading Indigenous woman entrepreneur with a strong business concept and demonstrates plans for future growth and commitment to the community.

 Recipient: Vanessa Marshall, Jack59 Inc.

Spurred by a desire to spend more time with her daughter, Vanessa founded Jack59, a company specializing in hair care. But Jack59 products are far from your average shampoo and conditioners. Built on the idea that small changes can have a big impact, all of the products are made with the goal of reducing single-use plastic consumption and global water transport. Vanessa is helping create self-aware consumers while providing a business environment that allows her staff with flexible working hours so they can prioritize their family, just like she did.

Upsurge Entrepreneur Award

Awarded to a female entrepreneur who has built a solid foundation for her business and is now experiencing rapid growth.

Recipient: Breanne Everett, Orpyx Medical Technologies Inc.

Though she loved working as a clinician, Breanne recognized that Orpyx would allow her to have a greater impact on the diabetes community. Rather than offering care for patients who were suffering from limb loss, she wanted to create an innovative technology that could help prevent it from happening in the first place. Now her team works with two centres of excellence across the province in order to ensure that people living with diabetes can maintain their mobility, something that will change lives for thousands of individuals. And Breanne is just getting started when it comes to her insole technology, believing that in the future it could be used for all kinds of movement-related situations.

Since 2012, the annual AWE Awards have recognized more than 1000 women entrepreneurs in Alberta as award nominees. This year’s recipients join a prestigious list of Alberta entrepreneurs who are making a difference in their communities and around the world. Special thanks to our Presenting Sponsor, ATB Financial!

AWE has worked with thousands of entrepreneurs through coaching, mentorship, leadership development, business advising, access to capital, and access to networks over the last 27 years.

To learn more about the AWE Awards, please visit https://www.awebusiness.com/2022-awards-celebration

Building A Community Around Your Business

When a customer decides to go in search of a product or service, they have a plethora of options available. So, what drives them towards one option over another? There are many factors, but a big factor is the sense of loyalty they feel. And that’s driven by the community that’s built around a business.

You can start building a community by creating opportunities for customers to get to know your business better and even a chance to find a group of like-minded people. Those interactions make people feel like they’re part of something bigger, and if that feeling is consistent, then it strengthens the connection they feel to your business.

Small business owners are in a unique position when it comes to community building because they know their customers intimately. The more you get to know who your customers are and what they like, the more value you can offer them when interacting with your brand, and the quicker you can pivot with community desires.

Here are a few ways that you can build a community around your business that customers will be proud to be a part of:

Develop a social presence

This may seem obvious, but taking the time to create good social content can be one of the cheapest and easiest ways of building a community around your business. People reach for their phones dozens of times throughout the day, which creates a lot of opportunities for you to make a connection. This is also a great place for your customers to engage with one another, turning your brand into a space where people can discuss a common interest and feel inspired by new ideas.

Utilize software to get to know your customer base

To add real value for your customer, you need to know what they’re looking for in your business. Investing in software like customer engagement platforms or customer relationship management tools can help you find patterns in your customer data. AWE’s Bold Leadership Program helps business owners figure out what digital tools are best for their business to help improve performance.

Collaborate with other businesses

Capitalize on the work that other businesses are doing with their communities by creating partnerships. Maybe making a purchase at your store means they get 10% off at the coffee shop down the street. Or maybe you collaborate on a social media giveaway. There are a lot of creative ways that businesses can cross-promote and share the community they already have.

Host events

This won’t be feasible for every business but finding opportunities to host events will help customers boost those connections with each other while making positive memories in your space. Spending an evening surrounded by your products will make them more likely to purchase something, and they’ll leave with an experience they tell their friends and family about later. 

No matter how you decide to connect with your customers, the most important thing is to be genuine. Loyalty comes from really knowing and caring about a business, so don’t be afraid to show your personality! With a little time and consistency, you’ll be able to find people who are just as passionate about your business as you are and make a meaningful impact in their lives.

2022 Awards Finalists Announced

EDMONTON, AB – A group of ten extraordinary Alberta women entrepreneurs were named this year’s AWE Awards finalists.

“These finalists represent incredible possibility, remarkable innovation, and undeniable talent,”  says Marcela Mandeville, CEO, Alberta Women Entrepreneurs. “They are moving their businesses and our province forward.”

The awards, presented by ATB Financial, recognize the efforts of women entrepreneurs in four categories. This year’s finalists include:

Emerging Entrepreneur Award – Awarded to a female entrepreneur who has built a strong, scalable business foundation and has achieved early success.

• Jennifer Schaeffer, Onlea Enterprises, Inc.

• Shannon Van Norman, Shadow Vista Productions

• Ashley Wevers, AdvancdAg Inc.

• Carey Ann Thurlow, Risio Institute for Digital Dental Education Inc.

Indigenous Entrepreneur Award – Awarded to a leading Indigenous woman entrepreneur who has a strong business concept and demonstrates plans for future growth and commitment to the community.

• Mallory Yawnghwe, Indigenous Box Inc.

• Vanessa Marshall, Jack59 Inc.

• Angie Saltman, Saltmedia Inc

Upsurge Award – Awarded to a female entrepreneur who has built a solid foundation for her business and is now experiencing rapid growth.

• Breanne Everett, Orpyx Medical Technologies Inc.

• Deanne Beis, Tenfold HR Solutions

• Jenelle Wensley, Genex Marketing

Since 2012, the annual AWE Awards have recognized more than 800 women entrepreneurs in Alberta. Previous award winners include such notable Alberta entrepreneurs as Karina Birch of Rocky Mountain Soap Co., Karen Ryan and Lara Murphy of Ryan Murphy Construction, and Angela Santiago of The Little Potato Company.

Along with the awards, AWE has worked with thousands of entrepreneurs through coaching, mentorship, leadership development, business advising, access to capital, and access to networks over the last 25 years.

To learn more about the awards, visit: www.awebusiness.com/2022-awards-celebration . Get your ticket to the in-person Awards Celebration at the Edmonton Expo Center on September 13 on Eventbrite.

Sustainability in Business

Sustainability has many advantages for your business. It can provide an improved brand image, greater employee retention, competitive advantages, and tax benefits, as well as minimize business costs and increase productivity and efficiency. Caring about sustainability has become more prominent in recent years, and consumers are more aware of a company’s impact on society, the economy, and the environment. Taking action to create a more sustainable company can increase customer loyalty and help to grow a successful business.

This article will break down sustainability into its three main pillars; social, economic, and environmental. These pillars are also sometimes referred to as people, profit, and planet.

Social Sustainability

What is Social Sustainability?

Social Sustainability focuses on how business operations impact people; including employees, suppliers, and partners. Social Sustainability can improve business strategy, supply chain, and consumer perception of the business. It can also help attract business partners, improve employee morale, risk management, and can help a business lead their industry and stand out against the competition.

Businesses that focus on social sustainability tend to prioritize things such as:

• Human rights

• Fair labor practices

• Healthcare access

• Workplace safety

• Diversity

• Equity

• Proper work-life balance

• Cultural empowerment

• Community engagement & volunteering

 Questions to ask yourself:

• Does my business aim to meet the needs of a disadvantaged and/or marginalized group?

• Does my business recognize cultural, ethnic, and racial diversity?

• Does my business welcome diverse viewpoints, opinions and beliefs?

• Does my business practice and encourage community contribution?

• How does my business demonstrate commitment to an improved quality of life?

Economic Sustainability

What is Economic Sustainability?

Economic Sustainability focuses on a business’s environment and economic wellbeing. Economic Sustainability promotes the idea of providing long-term benefits by growing the company in a way that is efficient and responsible to ensure consistent, ongoing profit without degradation.

Businesses that focus on economic sustainability tend to prioritize things such as:

• Profit

• Cost savings

• Efficient resource use

• Long-range planning

• Smart economic growth

• Taxes

• R&D spending

Questions to ask yourself:

• Am I tracking my business expenses, profit, and savings?

• How can my business meet my present economic needs without diminishing future economic opportunities?

• Am I reinvesting my business?

• How much of my resources go to waste?

• Does my business contribute to the financial welfare of the owners, employees, and the community it operates in?

Environmental Sustainability

What is Environmental Sustainability?

Environmental Sustainability focuses on maintaining business functions without jeopardizing the environment and the future of the planet. A business should responsibly interact with the planet to ensure natural resources are maintained and an environment that can continue to support human life is kept a priority. Environmentally sustainable business practices can also help to gain a competitive advantage in the market.

Businesses that focus on environmental sustainability tend to prioritize things such as:

• Resource management

• Emissions reduction

• Renewable energy sources

• Recycling, composting

• Natural alternatives

Questions to ask yourself:

• Are my decisions reducing my business’s negative impact on the environment?

• Am I developing strategies and processes that will lead to my business becoming more sustainable in the future?

• How can my business lead the community and other businesses towards environmental sustainability?

• Am I looking at short-term gain instead of focusing on my business’s long term impact?

• How and where does my business source its materials and resources?

• Does my business publish an annual environmental report?

BOLD Leadership Overview

In today’s day and age, it’s nearly impossible to run a business that doesn’t include a digital component. Incorporating digital aspects to your business can look like so much more than just an online storefront. Many entrepreneurs may be missing out on huge opportunities to strengthen their business by not taking advantage of all technological possibilities.

That’s where Alberta Women Entrepreneurs’ BOLD Leadership program comes in.

Over the course of the program, entrepreneurs get a baseline of knowledge about what a digital transformation can look like for their business before creating a plan that fits their needs and abilities. “The Bold Leadership Program focuses on the critical components of building a digital strategy for a business.” Says Gabriela Touma; Bold Leadership Program Advisor. Covering a range of topics from digital marketing to improving the customer experience, the aim is of this program is to get participants thinking about all of the ways, big and small, that digitalization can save them time and money.

A lot of people feel overwhelmed because there is so much technology out there. AWE’s Bold Leadership program tries to give people enough of an idea of what the technologies are about and then how to start to incorporate that into their business.

Some entrepreneurs, like Danielle Cherewyk, focus on mapping out how to automate their business processes, saving their team dozens of hours a week. Others may focus on developing new revenue models so they can start scaling up. Beyond the tangible benefits that can come from putting new technologies into practice, the greatest win can be a shift in business culture.

We want to help leaders start creating a culture of innovation in their companies. Sometimes leaders will feel that all of the innovative ideas fall on them, but we help them build a framework so that they can actually draw on all the innovation and the talents in their team to help move the whole company forward.

“Within The Bold Leadership Program, business leaders will learn everything from how to build a digital strategy, how to effectively leverage current and emerging technologies, and how to understand the drivers of transformation, Touma says, but most importantly we are helping them navigate the digital space with other inspiring women leaders that are excited to learn, collaborate and add to the conversation.”

While teaching the skills is important, AWE recognizes that creating a network of support for businesses as they go through their digital transformation is what takes an idea from concept to execution. Participants have access to one-on-one time with expert digital advisors during and after the course so they can continue to receive advice that is relevant to their unique business.  

“The connections that happen in the program are remarkable. We’ve heard from many participants how much it has changed their businesses!”

You’ve Received Your Business Loan, Now What?

Getting the news that you’ve qualified for a loan to start or grow your business is both exciting and nerve-wracking. Knowing where to start and what to do with it can feel overwhelming. Here’s what we recommend doing before you receive the loan or as soon as you do:

Have a clear understanding of the terms of your loan

Step 1 is making sure that you clearly understand what the terms of your loan are, and what your repayment plan is. These are important because some loans can only be used for certain things, plus it’s essential to follow the terms of your loan.

For example, AWE Loans can be used for market-ready start-ups, business expansion projects, and business purchases. Loans can be used for a variety of expenses, including:

• Leasehold improvements

• Equipment purchases

• Operating capital

• Advertising and marketing costs

• Purchase of inventory

Loans cannot be used for:

• Owner’s salary

• Re-financing existing debt

• Franchise fees

• Speculative ventures (e.g. Purchase of land for resale)

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

• Research and development

• Purchase of stocks, shares, or other non-productive investment

Review your repayment plan and make a budget

The next thing you should do when you receive your business loan is to make a budget based on your repayment plan. All loans come with repayment plans, which should be discussed when applying for the loan and going through the application process. Now that you have the money, you should sit down and make a budget based on what you plan on spending and the terms of your repayment plan. 

Prioritize what you got the loan for

Refer back to your strategic/marketing plan - what was your plan for this money? It’s important to stay the course as much as possible and utilize this loan money for its intended purposes. We know that things can come up along the way and plans can change, but the more you’re able to follow that initial strategic plan you created and spend your loan money on those things, the easier it will be to stay on track with repaying the loan. Holding yourself accountable can be difficult. If you don’t have a business partner to hold you accountable, consider speaking with a mentor, confidant or one of AWE’s Business Advisors. 

Once you are familiar with your terms and repayment plan, have a budget mapped out and know where you’re going to be prioritizing spending the loan money, you can start spending it! This can feel daunting at first, but with a well laid-out plan and lots of thought having gone into this whole process, you shouldn’t worry about taking this next exciting step to grow your business.

For more information on AWE’s Loan programs, click here.