Launching a successful business is a major milestone for any aspiring entrepreneur. However, the true measure of accomplishment lies in nurturing that startup and taking it to new heights. That is precisely why Futurpreneur and Spin Master have collaborated to deliver the Growth Accelerator. It is an exclusive opportunity for Futurpreneur-supported entrepreneurs to broaden their horizons and give their businesses an edge.
This extraordinary initiative is tailored for diverse young entrepreneurs who have already launched their businesses and are growth-focused. The program provides entrepreneurs multiple opportunities for coaching, knowledge-sharing, networking, and supports from experts to maximize their chances of successfully scaling their business.
This year’s Growth Accelerator included 25 entrepreneurs from across the country who participated in three months of workshops focused on marketing, operations, and finance. Futurpreneur also held an exclusive session, in collaboration with Empower by GoDaddy, to help enhance digital presence and increase sales.
The Growth Accelerator Cohort with Jon Levy and Tam Linnemann.
Photo Credit: Garcia Creative
Led by subject matter experts, the Growth Accelerator workshops provided entrepreneurs insights on scaling their startups and enhancing their skillsets to achieve their business growth goals. The sessions culminated with two days of in-person events, where the entrepreneurs came together and pitched their businesses, with James Lynn from KALŪ, taking home a $10,000 cash award to put towards the growth of his business.
Day One: The Big Showcase
The Growth Accelerator summit kicked off at Spin Master’s head office in downtown Toronto where the enthusiastic cohort was welcomed by business leaders including Futurpreneur’s CEO, Karen Greve Young, Vice President, Programs & Partnerships, Janis Nixon; Spin Master’s Vice President of Sales, Tom Linnemann and Vice President, Communications & Corporate Social Responsibility, Tammy Smitham.
Karen Greve Young, CEO, Futurpreneur.
Photo Credit: Garcia Creative
The opening keynote was delivered by the visionary – Jon Levy, Head of Spin Master Ventures and Co-Founder of Mastermind Toys.
Jon Levy, Head of Spin Master Ventures and Co-Founder of Mastermind Toys.
Photo Credit: Garcia Creative
Our Growth Accelerator cohort also had the privilege of learning from accomplished young entrepreneurs and Futurpreneur alumni. Mark Argo, Co-Founder of Little Robot Friends, Wilmer Hernandez, Founder of Montañeros Coffee, and Candace Tierney, Founder of Oat & Mill, shared their success stories and the challenges they encountered along the way. Their insights provided inspiration and guidance to our participants, offering a glimpse into the realities of the entrepreneurial journey.
Tom Linnemann, Candace Tierney, Mark Argo, and Wilmer Hernandez.
Photo Credit: Garcia Creative
The highlight of the day was the incredible showcase organized for the entrepreneurs to display their products and services, which included eyewear, tutoring services, health and wellness, pet food, outdoor recreation, and others. The event served as a tremendous opportunity for our entrepreneurs to develop partnerships and collaborations with each other, network with industry leaders, and explore possibilities to scale their businesses.
The Showcase Event at the Spin Master Office.
Photo Credit: Garcia Creative
The day concluded with an awe-inspiring address from none other than John Risley, Founder and President of Clearwater Foods, and the esteemed Founding Board Chair of Futurpreneur Canada. As an industry leader, and titan of the entrepreneurial ecosystem, John Risley’s presence was a testament to the caliber of our program. What truly set him apart was his genuine interest in our cohort, and his business insights resonated deeply with the entrepreneurs, leaving an indelible impact on them.
John Risley, Founder and President of Clearwater Foods,
Founding Board Chair of Futurpreneur Canada.
Photo Credit: Garcia Creative
The young entrepreneurs were excited to interact with a diverse array of trailblazers, each with their own remarkable journey and experiences. These interactions ignited a spark within the cohort, leaving them motivated to bring their A-game to the pitch competition scheduled for the following day.
Meghan Victoria, Founder & Creative Director of Sol Kyst, with Rubble.
Photo Credit: Garcia Creative
Day Two: The Grand Finale
On the heels of a successful day one, filled with engaging conversations with an exceptional line up of guests, the diverse young entrepreneurs were ready to pitch their businesses and vie for the coveted $10,000 cash award.
The day began with an invigorating session on the “Power of Storytelling”. With his infectious energy, Jake Karls, the dynamic Co-Founder & Rainmaker of Mid-Day Squares delved into his own entrepreneurial journey, from the modest beginnings of starting a business with his sister and brother-in-law in their apartment in 2018, to the astounding achievement of selling over 20 million chocolate bars within five years.
Jake’s advice to the entrepreneurs was clear and impactful. His storytelling prowess captivated all in attendance and left them supercharged to unlock their own untapped potential. He emphasized the importance of authenticity in establishing genuine connections with their audience and encouraged them to embrace vulnerability without fear. With his mantra of “being real” and fearlessly embracing disruption, he empowered our Growth Accelerator cohort to boldly carve their own unique paths to success.
Jake Karls, Co-Founder of Mid-Day Squares.
Photo Credit: Garcia Creative
The next session was a workshop on “Effective Communication”, hosted by Rahel Appiagyei-David, Founding Director of One1000 Consulting. Rahel shared the secrets to forming customers connections through effective communications including building on credibility and accountability to strengthen trust for the brand.
Rahel Appiagyei-David, Founding Director of One1000 Consulting
Photo Credit: Garcia Creative
Soon after, the pitch competition started with the participants breaking into rooms to present their pitches to judges including Valerie Fox, Chief Innovation Consultant, The Pivotal Point, and Futurpreneur Board Member; Catherine Addai-Boadu, Founder and CEO of KAELA KAY; Melissa Allen, Executive Director, League of Innovators (LOI Accelerator); Tom Linnemann, Vice President of Sales, Spin Master; Tammy Smitham, Vice President, Communications & Corporate Social Responsibility Spin Master, and Dominik Loncar, Entrepreneur-in-Residence, Futurpreneur.
The judges were inspired by the entrepreneurs’ vision and decided to move forward with six finalists instead of five, including: James Lynn, Founder of KALŪ, Abbie Morris, Co-founder of FarOut Wilderness, Ty de Hoog, Founder of True North Cider, Anisa Musmary, Founder of Wanderruff, Michael Collins, Founder & CEO of Periculum, Julianne Nieh, Founder & Director of Teaboco.
Julianne Nieh, Founder & Director of Teaboco.
Photo Credit: Garcia Creative
After an intense round of pitching to an expanded audience of judges including Jake Karls and Joshua Misquitta, from CIBC, James Lynn emerged as the well-deserved recipient of the coveted $10,000 cash award. The exhilaration in the room was palpable as James’ name was called, and his reaction was nothing short of pure joy. With genuine excitement, he exclaimed, “The Growth Accelerator experience ranks amongst the highest highs I’ve ever experienced. This award will allow me to fast-track certain projects that otherwise would’ve been put off until a later time. These projects will significantly accelerate my growth in the short term and help my business reach new heights! I’m so grateful!”.
Check out our full press release for more on James’ win!
The Award Recipient, James Lynn, Founder of KALŪ with the Futurpreneur and Spin Master Team.
Photo Credit: Garcia Creative
With day two drawing to a close, the conclusion of this year’s Growth Accelerator program filled the air with an atmosphere of positivity, camaraderie, and boundless enthusiasm. The participants, special guests, and esteemed judges, departed with hearts full of inspiration and a shared sense of accomplishment. The successful culmination of Futurpreneur’s Growth Accelerator ignited a collective anticipation for the next round, fostering a desire to continue the journey of growth and empowerment.
As the curtains closed on this year’s program, the prevailing sentiment was one of gratitude and excitement for the next chapter. The Growth Accelerator had fostered an extraordinary environment that nurtured growth, ambition, and limitless possibilities. The participants departed with a desire to continue their entrepreneurial journeys, armed with the experiences and connections gained through this initiative led by Futurpreneur, in collaboration with Spin Master. Until next year’s Growth Accelerator, their journey continues with the unwavering belief that anything is achievable.
Meghan Victoria and Julianne Nieh Share Their Collab Video on Instagram.
If this article inspired you to embark on your own entrepreneurial journey reach out today! The Growth Accelerator is tailor-made for ambitious entrepreneurs who are supported by Futurpreneur with financing and mentorship and have a strong desire to scale their businesses. If this sounds like you, be sure to apply when the next round of applications for the Growth Accelerator opens up.
From the Ground Up: Behind the Scenes of Knix and Mejuri’s Success
On April 19, 2023, the Arcadian Court in Toronto was buzzing with energy as over 200 in-person attendees and 280 virtual guests gathered to hear from two trailblazing women founders, Joanna Griffiths and Noura Sakkijha.
The fireside chat hosted by Canadian Club Toronto was moderated by our CEO, Karen Greve Young and we were treated to candid insights behind the success of the two Canadian entrepreneurs.
Meet the Trailblazing Futurpreneur-supported Founders
Joanna Griffiths, Knix & KT by Knix
Photo by Mike Hagarty
Joanna Griffiths is the founder and CEO of Knix and KT by Knix, one of the fastest-growing global intimate apparel brands. The company launched in 2013 and recently, Essity, leading hygiene and health company, acquired 80% of Knix, making the sale the largest publicly disclosed private sale by a female founder in Canada.
Noura Sakkijha, Mejuri
Born and raised in Jordan, Noura Sakkijha is a third-generation jeweler who initially chose to pursue industrial engineering before immigrating to Canada and deciding to return to her passion, jewelry. She launched Mejuri in 2015, a brand that is a symbol of empowerment, inclusivity, and innovation.
Opening the conversation, Karen pointed out the similarities between the two founders. Both received funding from Futurpreneur in the early stages of launching their businesses, both businesses carry a mission to empower women, and interestingly, both entrepreneurs raised funding while pregnant with twin girls.
From Idea to Leading Global Brands
Growing up, Noura observed that jewelry was marketed as something exclusive, at a high price point and, towards men to buy as gifts for women. After noticing a gap in the market for affordable quality jewelry, she was inspired to create a brand that empowers women to buy jewelry for themselves. With the spirit of “buy yourself the damn diamond,” Noura wants women to celebrate what matters to them, regardless of the occasion.
Joanna, on the other hand, knew little about the intimate apparel industry. She had the idea of creating leak-proof underwear when she realized many women experience leaks from pregnancy, post-partum, or even sneezing, or exercising, but there were no products in the market to address that issue. In a world that perpetuates a photoshopped version of women’s bodies, her aim was to create a brand that “talks to their customers for who they are, and that honours them by showcasing how fantastic they are.”
Overcoming Challenges in Their Entrepreneurial Journeys
When asked about the challenges they faced, Noura shared that “the challenges never stop, but you get better at handling them”.
Early on, the first difficulty she encountered was raising capital, as she faced multiple rejections from venture capitalists. She emphasized that entrepreneurs should learn from their failures and most importantly embrace them as they represent an opportunity for growth and improvement. Despite the hurdles, surrounding herself with other like-minded entrepreneurs, helped her get back on her feet and remain motivated to not give up on her dream.
Joanna agreed that challenges vary along the journey. Between figuring out how to make a product that did not exist, convincing manufacturers to take a leap of faith, and going through numbers of prototypes, there were periods filled with self-doubt. She highlighted, however, the importance of resilience and pushing through difficult times, sharing “looking back at things that used to break me, when they happen now, I’m able to brush them off and keep going”.
Talking about their first investors, Joanna explained that support came in from mostly friends and family, as well as Futurpreneur. “The organization gave me money when no one else would!” Noura mentioned that she received grants and support through Founder Fuel, and she was grateful to Futurpreneur, specifically for providing a non-dilutive loan that allowed her to remain in full control of her business at that early stage.
Words of Wisdom for Young Entrepreneurs
After taking questions from the audience, both entrepreneurs provided words of wisdom for entrepreneurs going through hard times in their own journeys. “In the early stages, talk to and learn from customers and when you grow, hire the best people,” Noura shared, as she strongly recommended that aspiring entrepreneurs surround themselves with great individuals.
Joanna emphasized that hard times inspire real growth stating, “the struggles and failures are incredibly normal, and I wish more people would talk about it.” She added that it was crucial for entrepreneurs to take care of themselves “it is a game of resiliency and it’s important that you keep a positive mindset,” she urged. “We are all a work in progress and as you build and lead a team, you must evolve, and step up to a place and that takes an entirely different skillset. You are working on building an incredible company, brand and legacy that will exist for generations. Once you get past the point of self-doubt, focus on what you want the brand to be known for and on its impact!”
Photo by Mike Hagarty
It’s Your Time!
If you feel inspired and ready to start your own entrepreneurial journey, don’t hesitate to reach out to us! Whether you want to start a side-hustle, purchase a business or launch your own, we have a team of experts who can guide you through the process and lead you to success!
And don’t forget to check out the full fireside chat with Joanna Griffiths and Noura Sakkijha for even more insights and inspiration.
Celebrating the 2nd Anniversary of the Black Entrepreneur Startup Program
Two years ago, Futurpreneur announced a new funding collaboration with Royal Bank of Canada to deliver the Black Entrepreneur Startup Program (BESP), building on its longstanding partnership with Business Development Bank of Canada (BDC). This initiative was launched to provide access to capital, mentorship, resources, and networking opportunities to help aspiring Black entrepreneurs across the country. As we celebrate the 2nd anniversary of the BESP, we are proudly reflecting on its incredible impact on the community and looking ahead towards the future.
Over $11M Provided in Capital Alongside 1:1 Mentorship
In the first two years of launch, the BESP has made a significant difference in addressing the barriers that many young, Black entrepreneurs face when accessing capital and other crucial business resources within the Canadian economic landscape. We have proudly disbursed over $11 million in collateral-free business loans, while supporting more than 275 Black-led businesses and matched them with a mentor to help them launch their startup journey.
According to the 2022 State of Women’s Entrepreneurship in Canada report, Black women entrepreneurs still encounter numerous obstacles, despite their impressive skills and experience. These challenges arise from the conscious and unconscious biases deeply rooted in institutions and organizations designed to support entrepreneurs, which disproportionately affect Black women1.
As we celebrate our 2nd anniversary, we’re also proud to share that 51% of the businesses we’ve supported through the Black Entrepreneur Startup Program are led by women. By fostering an inclusive and diverse entrepreneurial environment, we remain committed to empowering Black entrepreneurs and helping them thrive in their businesses.
Honouring Black Entrepreneurs and Inspiring the Next Generation
In February, we hosted an event to celebrate the achievements of Black entrepreneurs. The evening was dedicated to “Honouring Black Entrepreneurs and Inspiring the Next Generation”, and we welcomed a full house to our national office in Toronto. We provided attendees with a unique opportunity to connect with like-minded professionals and learn from industry experts.
The event effectively showcased the significant impact of the Black Entrepreneur Startup Program in empowering Black entrepreneurs nationwide. It also served as a fitting prelude to our 2nd anniversary celebrations.
Many young entrepreneurs came in from out of town to join us and we are deeply grateful for the overwhelming response from the community both in-person and on social media – it was a night to remember!
Raising the Visibility of Black Entrepreneurs
Throughout February, we also dedicated Futurpreneur’s communication platforms to celebrating Black History Month and highlighting successful young Black entrepreneurs through the video series “A Day in the Life of a Black Entrepreneur” featuring four amazing Futurpreneur-supported business owners across Canada.
Adesola Ogunsakin of The Retro Bag Canada, London, Ontario
Meet Adesola Ogunsakin, who after completing her medical degree, took a giant leap of faith and launched her brand online. Pursuing her passion for fashion, the entrepreneur founded The Retro Bag Canada in 2019. Today, her brick-and-mortar store shines in one of the biggest shopping malls in London, Ontario.
Alexandra Nerette of Nerette Notaires, Saint-Lambert, Québec
Meet Alexandra Nerette of Nerette Notaires, who takes us on a journey through her daily routine and shares how she considers Quebec, a place where everyone can create their own path and become successful.
Kudzaishe Rodney Tembo of East Coast Rec Rides, Dartmouth, Nova Scotia
Meet Kudzaishe Rodney Tembo, passionate entrepreneur, founder of East Coast Rec Rides and an active contributor to Nova Scotia’s tourism industry. Watch him as he highlights the importance of having inspirational Black leaders to support the next generation of Black business owners.
Arlene Ambrose of Arlene Ambrose Curated Health, Edmonton, Alberta
Meet Arlene Ambrose of Arlene Ambrose Curated Health and learn how you can take your business to the next level by “taking a leap of faith”. Watch as she shares why mentorship is your most important asset as an aspiring entrepreneur.
Through the BESP, we are committed to sharing the experiences of young entrepreneurs year-round with initiatives such as our video series, as well as our podcast, “Startup + Prosper” plus many more to follow.
Building a Better Future for Black Entrepreneurs
As we reflect on the past two years and celebrate the success of the Black Entrepreneur Startup Program, funded by RBC with additional loan support from BDC, we remain committed to empowering Black entrepreneurs across Canada. We recognize that there is still much work to be done to address systemic barriers and support Black entrepreneurs, particularly Black women entrepreneurs.
Supporting Black entrepreneurs is not only a matter of equity, but it is also imperative for the Canadian economy. By ensuring that Black entrepreneurs have access to the capital, mentorship, and resources they need to succeed, we can build a more prosperous and inclusive future for all entrepreneurs across the country.
We would like to extend our gratitude to all our partners and supporters who have contributed to the success of the program, especially RBC and BDC. We look forward to continuing this vital work and building a brighter future for Black entrepreneurs in Canada.
1 Cukier, W., Mo, G. Y., Chavoushi, Z. H., Borova, B., Osten, V. (2022). The State of Women’s Entrepreneurship in Canada 2022. Women Entrepreneurship Knowledge Hub.
The Power of Women: Breaking Barriers and Making an Impact
Did you know that the Futurpreneur team includes 62% employees identifying as women, including half of our senior leadership? That’s not all, 44% of all Futurpreneur-supported businesses are led by women. On the occasion of International Women’s Day, we want to celebrate women-owned businesses by hearing directly from the entrepreneurs about their experiences: challenges, achievements, and the way forward.
Women Leading the Charge
Carolann Robyn Cruz
Carolann Robyn Cruz is an Indigenous entrepreneur and founder of Enn Taant, a camping gear and supplies business in Manitoba. Robyn has been an outdoor enthusiast, and her love for camping started as a child, raised by a tight-knit Metis family full of outdoorsy folks.
Accessibility to equipment is a major factor for campers and Cruz wanted to make, “… camping easy and accessible for EVERYONE by providing and setting up good quality camping gear. Our priority is to make sure everyone gets an opportunity to enjoy the outdoors.”
Sumru Sezer
Owner and founder of Mint+Grey, Sumru Sezer, moved to Canada in 2018, and missed the comfort of Turkish towels in the country. She found a gap in the market between microfiber and cotton terry towels and decided to launch her own brand of premium quality, authentic Turkish towels for self-caring, active living, environmentally conscious people.
Anna Chan
Anna Chan from myMomentum talks about the tipping point in her life, “I felt workplace burnout from leading a startup during its high growth phase back in 2015, and knew it was time for me to rediscover my purpose. I became a fitness coach and during this time, found the fundamental problem of the lack of empathy surrounding wellness.” She launched myMomentum, a B2B company that provides people-first companies with an easy and cost-effective way to show their care for their employees’ well-being via a personalized app.
Kenesha Lewis
Her love for cocoa tea (Jamaican hot chocolate) that she drank as a child with her grandfather inspired Kenesha Lewis to start her own business, One More Cocoa. According to Lewis, she wanted to create a brand that would, “bring some of my Caribbean heritage, nostalgic things from my childhood and simple flavours we all love, together.”
Challenges Facing Women in Business Today
Talking about the challenges they faced while starting their businesses, Cruz says, “The biggest challenges that I faced when starting up last year was gaining access to capital, especially after the pandemic. Lenders seemed more apprehensive to lend to a tourism startup after we all witnessed how much of an impact it had on worldwide tourism.”
Sezer feels issues like self-doubt and burnout are real and all entrepreneurs go through it at some point in their journey. She made the decision to take one step at a time and allowed herself to make mistakes and improve on them as she went along.
Balancing the journey of motherhood, and being a non-technical solo founder was extremely challenging for Chan. Securing funding is another big hurdle for business owners, so she leaned on alternative and less traditional ways to fund myMomentum in the early days and doubled down on revenue generation.
Finding Financing and Support
Speaking about the role Futurpreneur played in achieving her dreams, Lewis shares, “We received our largest order to date and were unsure how to process such a large order without the correct equipment. With the Futurpreneur loan and mentorship, we were able to get what we needed. Working with a mentor has been great. They were able to give me an outside perspective on the things I needed to do to move forward.”
Sezer says, “Apart from funding, my Futurpreneur mentors, and advisors helped me create an outlet for my ideas, and structure to my plans. Starting as a single individual, building the pillars and creating the future of your business can feel lonely. Structure brings clarity to your vision and people provide the companionship.”
In Chan’s words, “Not only did Futurpreneur fuel our traction in our early days by funding us in 2018 alongside BDC, but we’ve been exposed to a host of speaking and networking opportunities to grow our brand awareness. Having an organization believe in and support us has allowed us to build the confidence to aggressively go after our goals!”
“I owe Futurpreneur a huge amount of credit for Enn Taant’s success from the idea stage to launch and beyond. They have provided not only financial support, but also avenues to meet fellow entrepreneurs, mentorship, and many important business connections,” states Cruz.
Advice to the Next Generation of Entrepreneurs
For their final piece of advice for aspiring entrepreneurs, Sezer exclaims, “Don’t postpone! If you have it in your heart, if you know you need to take the step, if you think it’s the time, do it.”
Lewis shares her words of wisdom, “Find something you enjoy doing and that you are passionate about. Learn as much as you can about it and if it fills you with pride and enjoyment, run with it. Start your business with a solid plan, passion for what you’re selling and the drive to grow it to where you want to take it. This attitude will help in those low moments, in uncertain times and push you to do more to succeed.”
“Don’t give up. Make sure your idea is simple. Be prepared to pivot where it is required and be at peace with it, things won’t always be easy, but it will be easier when you can adapt,” advises Cruz.
Surrounding yourself with the right people is one of Chan’s big learnings, “Your team is the heart of your organization, and you want to make sure that these are the people who will bring in their own unique perspectives and push the boundaries of what seems possible. Additionally, focus and set hard unapologetic boundaries to care for yourself – it’s a marathon, not a sprint. We can, and deserve, an amazing life too – we aren’t just entrepreneurs!”
We hope that the inspiring stories of these successful business leaders will motivate you to embark on your own entrepreneurial journey and turn your dream business into a reality!
Side Hustle – An opportunity in adversity
While the whole world is facing economic uncertainty, starting a business can seem like an uphill task. On the bright side, a side hustle can be the perfect opportunity to invest your time and effort in what truly interests you and realize your entrepreneurial dreams. You don’t have to turn your life around or quit your job to tackle an entrepreneurial project that may even lead to a new career. What’s more, a side hustle can benefit you in so many different ways. Here’s how you can level up at your own pace.
Taking the Leap
“The biggest thing is just getting started,” observes Emily Seaman, founder and co-owner of Kohr Method, a wellness studio based in Dartmouth, Nova Scotia. “First, you have to try something to see if people are going to like it. And then from there, you need to see if it has legs to grow on its own,” advises the Pilates instructor. The studio first started in 2020 as an online community. Their service offering has since extended to include a physical space and an app.
Whether you’re looking for a way to supplement your income or you want to reach personal and professional goals, a side hustle can be the answer to both.
Emily wanted to share with the world how movement healed her. “8 years ago, I was in a very bad car accident. They really thought I was going to have chronic pain for the rest of my life,” recounts the entrepreneur, who had to undergo physical rehabilitation. On her road to recovery, she fell in love with Pilates. She got her teaching training and discovered alternative forms of movement, which then led her to opening her own studio.
While you can take the opportunity to specialize in something you’re already well acquainted with, this doesn’t have to be the case. When Devon de Balasi Brown came up with the inspiration behind the social card game Fluster, he and his co-founder had no prior experience. “We were not board game enthusiasts. It was scratching like an itch in our own lives,” he says of the passion project that is now a successful venture.
Keeping at It
Growing a side hustle isn’t always easy and comes with its own set of hurdles including knowledge about cash flow, customer acquisition, marketing etc.. As founders, Devon and Emily both received support from the Futurpreneur Side Hustle Program, the program has been a tremendous help, both financially and resource-wise. “It really helped us make sure that we got our business plan together and that we had everything that we needed,” says the studio owner. The financial support allowed Emily to buy equipment and receive valuable mentorship from a fellow gym owner.
From the get-go, it’s important that you define the purpose. “Our vision is to reduce loneliness, bridge division, support well-being, and create connections through play,” states Devon. At times when he doubted his capacities, reminding himself of the purpose really helped him focus. “I think it’s important to take those first steps and fully own your actions,” he states.
It’s also best to aim for the long run. “Things will move slower than you expect them to. Set things up in sustainable ways knowing that you’re not just going to be doing a side hustle for a month, or six months,” he advises. He also notes that the time he and his partner dedicate to Fluster fluctuates: there are moments when the project requires more energy for the pair, who chose to maintain a career in other fields.
“A lot of times, when people found out that I had this on the side, they ask, ‘are you eventually planning on quitting and doing this full time?” explains Emily Seaman. She prefers to have a traditional career while running a business that uplifts her. “Of course, I want all of my professional roles to fuel me and be passion-related,” she points out. In her full-time job, Emily works as a digital strategist, a position that fulfils her interests. She also put her knowledge into practice in Kohr Methods. “I never want to feel stagnant. I have two things that fuel my passion for movement and my passion for learning,” she goes on to say. In the same way, you can develop many transferable skills from running your business — whether it’s time organization, finance, business, or decision-making skills.
As you see, you can do things your own way with a side hustle. Venturing into a business gives you room to figure out what you want and keep growing. You couldn’t ask for a sweeter deal, could you?
Introducing the 2023 Growth Accelerator cohort
Learning plays a vital role in an entrepreneur’s growth and the success of their business. Learning enables quick thinking, sound decision-making, problem solving, and planning for the future. Futurpreneur’s Growth Accelerator is a unique offering to our Young Entrepreneurs who want to elevate their business to higher levels of success.
Facilitated digitally again this year, with an in-person strategy pitch session in Toronto in April, the Growth Accelerator will provide insight and education on various aspects of a business throughout the course of the initiative.
Commencing in February 2023, the workshops this month will focus on Marketing: Entrepreneurs will learn to create an implementable marketing strategy for their business. In March, the spotlight will fall on creating operational assets and how to implement/access them. Last but definitely not the least, Finance will be April’s focus: Entrepreneurs will be armed with heightened awareness of their current and future financial numbers to make appropriate financial forecasts and decisions.
Growth Accelerator is a Futurpreneur initiative, powered by Spin Master. We thank Spin Master for supporting this initiative and accelerating the future of entrepreneurship.
Meet this year’s cohort:
A CUT ABOVE TREE EXPERTS:
A Cut Above Tree Experts is a year-round tree care provider in Guelph, Kitchener-Waterloo, and Cambridge that is committed to the preservation and health of our urban canopies. The tree service includes services such as pruning, tree removal, stump grinding, cabling and bracing (support systems), plant health care, tree planting, storm damage clean up, risk assessments, tree consulting.
ACE IT TUTORING INC.
Ace It Tutoring offers a new and fresh approach to the concept of tutoring. No More appointments. No more time limits. No more just one subject at a time. They are the gym for Math and Science grades.
ADA’S GOLF BOUTIQUE
Ada’s Golf Boutique is an online destination for fashionable and functionable golf and activewear for women. From buying, to building Ada’s creative marketing campaigns, Mackenzie has enjoyed every moment of making Ada’s Golf Boutique a reality. Ada’s allows Mackenzie to channel her innovative side and celebrate women.
BEST CAT INC.
Best Cat is a cat specialty retailer that sources unique cat food, treats, toys, cat furniture and accessories. Best Cat is owned and operated by Meagan and Kyle Daigle, siblings who are passionate about enriching the lives of Canadian cats. Best Cat is the go-to cat retailer in the GTA, featuring a selection of difficult to find, quality products and providing responsive customer service.
CHOCO DE LÉA
Choco de Léa offers high-end, vegan, eco-responsible chocolates, made from cocoa beans and direct trading practice. The brand combines the concept of food chemistry, local products and the particularities of fine cacao to create unique and very high-quality products.
DIALED BIKE SERVICE
Dialed Bike Service is a precision bike maintenance and repair shop with a focus on high-end mountain bikes. Founders Ash and Adam are extremely proud of creating a space that honours their own neurodivergence, while working towards creating space for more people like them in the bike industry and community and focusing on delivering unparalleled quality and attention to detail.
FAR OUT WILDERNESS
FarOut Wilderness provides safe access to the backcountry of British Columbia through self-drive overland vehicle rentals and tailor-made itineraries. It offers an unrivaled opportunity for its clients to safely adventure through the province’s wild and beautiful places.
HEARTBEET MARKET GARDEN
Locally grown with love, the brand is founded by passionate growers dedicated to fighting food insecurity through serving the community by producing high quality, nutrient dense, fresh food and natural products. Putting their heart in every plant from seed to harvest, they grow using natural ways to promote a healthy, sustainable, and productive environment.
HOPE PET FOOD
Hope Pet Food is bridging the gap between nutritious and sustainable with alternative proteins from insects, algae and fungi. They are on a mission to provide pet parents with better food for their furry family members using an evidence-based approach, nutrient-rich and eco-friendly ingredients all while leaving livestock and fish ingredients behind.
KALŪ
KALŪ is an eco-friendly pet food company. The brains behind KALŪ believe that the best way to encourage their customers to make sustainable choices is to offer products designed with the utmost respect for the environment around us. KALŪ is a local, accessible and environmentally responsible alternative to the products that are currently available on the market.
KIDS INNOVATIVE LIMITED
Kids Innovative is an after-school STEAM educational service providing digital literacy to students. Kids Innovative particularly focuses on combining digital art with coding or animation in an interactive classroom session.
MARARAMIRO
Mararamiro is the first shoppable photography studio in Canada. They have an online home decor store as well as a Toronto showroom that doubles as an elevated, fully furnished, and styled photography studio that they rent to content creators and brands.
MORE GRANOLA
More Granola is Canada’s first and only brand of snackable granola chunks. We make granola snacks in a line of dessert inspired flavours, including Pecan Pie, Hot Cocoa, Nutty Crumble and Salted Caramel.
NAILIFY
Nailify stands out by providing high quality consulting services and top of the shelves supply for beauty professionals, more specifically nail professionals. The company has a retail store in Québec city and its core business is across the Province of Québec through their online store.
PERICULUM
Periculum builds data analytic software that empowers organizations in underserved markets. They help companies with credit assessment, ML modeling, Fraud risk, Churn risk, and more. They bring intelligence to the core of everything that matters most to the customers.
PIECEMEAL FOOD PROVISIONS
PieceMeal was developed out of the beautiful Annapolis Valley in Nova Scotia to fill the need for a locally sourced meal kit. It is a hybrid between a CSA (Consumer Supported Agriculture) Box and a Meal Kit. The recipes were designed by professional chef Fiona Lewis and are chosen in collaboration with available produce from local farms.
QUVÉ
Quvé Group is a small Toronto-based wine and spirits agency offering commercial level sales and marketing management within a boutique firm setting. They specialize in representing independent, family-owned producers using organic/sustainable methods.
SOL KYST
SOL KYST is a curated collection of sunglasses designed to fit and flatter those with a wide/round/square face shape. With the widest women’s frames on the market and as a solution-based product they offer classic designs with an emphasis on quality, function and versatility.
SRTRAINING
SRTraining offers an all-rounded approach to helping individuals find their version of happy, healthy, and wholesome. They offer a 1 – 1 in-person health and wellness training facility. They help their customers focus on a better lifestyle, wellness, health habits that will build them into being that fuller more healthier, happier, trusting self.
TATAMAGOUCHE ICE CREAMERY
Tatamagouche Ice Creamery, a manufacturer; retailer; and wholesaler of ultra-premium ice cream, celebrated its official launch on Canada Day of 2020, following over a year of hard work and investment.
TEABOCO
Teaboco is a women-owned Canadian brand that promotes intentional and sustainable living with a range of eco-friendly, reusable drink ware. The name Teaboco came from the multi-functional functionality of the products including glass tumblers that can be used for Tea, Boba, Coffee, and more.
TIMBER AND FINS
Timber and Fins is a company dedicated to crafting heirloom-quality fly fishing gear that enhances the fishing experience and can be passed down from one generation to the next. Founded three years ago by David-Alexandre Chabot, Timber and Fins was created out of a desire to provide high-quality, responsibly-made fly fishing products.
TRUE NORTH CIDER CO.
True North Cider strives to create genuine, authentic cider made from 100% Canadian apples, fermented in small batches, and developed into unique seasonal flavours. By providing an authentic and unique product they separate themselves from major global cider producers.
WANDERRUFF
Wanderruff is a sustainable dog accessories brand making dog collars, harnesses, and leashes out of recycled water bottles and zero waste beds for the wagging adventurer — merging comfort and consciousness.
WEARSHOP
Wearshop is a leather handbag brand designed for the woman-on-the-go. The bags are functional and practical, yet elegant. All their bags are made in Canada by local artisans who date and sign each bag as their way of adding an extra human touch to their work.
Building the Future Through Mentoring
For notary and business owner Veronique Semexant, the impact of an entrepreneur goes beyond creating a business. “Our businesses have a social impact; they contribute to a society and a community,” she explains. To pave the way for the next generation, entrepreneurs need to collaborate and pass on their knowledge.
“We need to make a difference and stop telling ourselves that we have nothing to bring to the table or that other people can do it instead. That ‘other’ is you. Even if we think we have not reached our potential, or that our experience isn’t that different,” says Semexant. In her opinion, sharing our experiences is what matters. By doing so, we influence others, who will, in turn, have an impact on those crossing their path.
Mentoring has allowed Semexant to do just that. After having, gone through Futurpreneur’s mentorship program herself, she shares: “Maybe, I’m at the stage of paying it forward.”
The notary brings along her experience, keeping one thing in mind: openness — an approach fostered by her own mentor, who taught her to think big and look at challenges with a fresh pair of eyes.
The mentoring relationship is compelling because of the conversations about roadblocks and new directions, among other things. She shares how her coaching style focuses on engaging in discussions and getting to know people and their projects. Semexant wants to know “what drives them, what can reduce the time it takes to achieve better results.”
In this spirit, Semexant invites us to get out of our offices and be open to the future: “Let’s make a change.” By seeing entrepreneurs who look like us and, even better, entrepreneurs who are supportive of us, perspectives and possibilities start to open. “Then one can see that someone did it, that it’s possible,” the notary asserts. Then, we can envision more for ourselves: “It gives a vision of hope because when you start, you can feel uncertain. When looking at statistics, it can be bleak. However, we should remind ourselves that yes, it can be done.”
Mentor Profile: Jennifer Ménard-Shand
Community leaders have the unique opportunity to build the next generation of visionaries. Mentorship can be seen both as a duty and a responsibility towards building a stronger entrepreneurial community.
Jennifer Ménard-Shand considers mentorship rewarding and close to her heart. Following a ten-year career in hospitality with Maple Leaf Sports Entertainment, she made her mark in staffing between 2008 and 2018 at The Bagg Group (now Talent World), a full-service staffing firm where she was originally hired by her mentor.
In 2018, Ménard-Shand acquired a portion of the company and created Staff Shop, a full-service staffing firm that serves clients across Canada, USA and the Caribbean. While being a successful entrepreneur, Ménard-Shand remains grounded by her Indigenous roots. Her ability to relate to young Indigenous and women entrepreneurs has been a cultural asset through which she shares her business knowledge as a mentor today.
“I know how difficult it can be as an entrepreneur, especially an Indigenous entrepreneur, plus being a female, there are many entry barriers and I believe it takes representation to understand that and help remove those barriers,” she says.
“As a First Nations Ojibway and French Canadian who didn’t always connect with my roots due to the stereotypes that exist out there until later on in my teens, I faced typical oppression challenges faced by Indigenous women especially.”
Ménard-Shand recognizes the systemic barriers facing Indigenous entrepreneurs through her own experience, highlighting the strength and bravery in their entrepreneurial paths.
“By the time you’re sitting in front of an Indigenous entrepreneur, you can assume that it’s taken a lot for them to get there. It would be a waste to have them not succeed because of a lack of representation or connection to those who can relate,” she says.
Tyra Paul is a young Indigenous entrepreneur who owns the clothing brand Drip Avenue 902. Paul is mentored by Ménard-Shand through Futurpreneur.
“I love Jennifer,” Paul says. “I definitely connected personally with her, and I feel really comfortable talking to her.”
Empathy is part of Ménard-Shand’s approach to mentorship.
“I put myself in her shoes, at her stage,” Ménard-Shand says. “I give her the space to be who she is while I provide direction, ideas, and advice. But it’s really up to her. I try not to force too many solutions or stop her from making mistakes.”
Paul says she appreciates Ménard-Shand’s approach to mentorship – sometimes strategy, sometimes support.
“It was really nice to have somebody in my corner, especially through these challenging times,” Paul says. “It’s made me feel empowered, and when you feel strong you behave in a way that you never thought was possible before.”
Over-mentoring is one trap mentors often get caught in, according to Ménard-Shand. While a mentor is there to provide guidance and wisdom, the entrepreneur is the ultimate decision-maker for their business.
“It’s important that she thinks for herself and learns how to make decisions, takes responsibility for those decisions, and leans on me for what she needs at her own pace, Ménard-Shand says of Paul. “Of course, as soon as I see an opportunity to help with resources or fast-tracking, I will, but I’m also very careful about the balance between my doing versus her doing.”
Having grown a business with the assistance of mentorship, Ménard-Shand shares attributes of good mentorship. She recalls the importance of professional moral support from her mentor.
“He saw potential and invested in me, believed in me more than I believed in myself at the time, and I didn’t waste that opportunity. Fast forward a little over a decade later, and I was able to purchase the service line that I created within his company before he sold the rest of it. And that’s how Staff Shop was born. I re-named the service line Staff Shop and it’s the gift that keeps on giving. It has not only benefited me, but the thousands of employees that we deploy across Canada and the hundreds of clients we service across North America.”
Mentorship played a key role in her own entrepreneurial journey, so she doesn’t miss any opportunity to pay it forward.
“I personally wouldn’t have made it this far without all of the mentors and Yodas in my life who cleared the path for me to succeed,” she says. “Our battle cry at Staff Shop this year was ‘Leadership Factory’, and we’re always looking for ways to ensure that our team members are growing in or out of the organization. And if we can create more leaders, there’s mutual ROI for everyone involved.”
For those who have grown their careers to be able to give back, Ménard-Shand has one piece of advice: to pay it forward.
“I would just like to encourage other leaders to donate their time to help create more leaders. It’s our responsibility to give back. I would also advise entrepreneurs to find the right mentor for them. Find the right Yoda, since no one makes it alone.”
Starting a Successful Business in Trying Times
Becoming an entrepreneur is not always the easy choice. Especially now, when post-pandemic recovery is being marred with the recent economic headwinds that have brought on a new set of challenges for Canadian entrepreneurs. From rising costs, supply-chain issues, logistical delays, and financing troubles, the list continues to grow.
The recently concluded BDC Small Business Week 2022 included a panel discussion on “Starting a Business in Trying Times” featuring Futurpreneur’s CEO, Karen Greve Young, and Sandra Odendahl, Senior Vice President and Head of Sustainability and Diversity at BDC, as the guest speaker and moderator. They were joined by Louis Pallascio, Robyn Cruz, and Nicola Hamilton, three young entrepreneurs who shared their entrepreneurial journey with the audience.
Over the past couple of years, the market instability has affected small businesses in unprecedented ways, and resource management as well as supply chain issues have acted as barriers for entrepreneurs to run their businesses smoothly. For Robyn, founder of Enn Taant, a camping and camping gear business, those challenges started with the purchasing process: “I was originally going to purchase all my tents from the UK, but the import fees and delivery charges were outrageous”. She explained that turning to local suppliers not only helped her reduce costs, but also allowed her to find a community that continues to provide advice and support her business.
For Louis, founder of Studios Machiavel, building a team of like-minded individuals was the most challenging aspect of his entrepreneurial journey: “Although the Futurpreneur and BDC loan helped a lot, recruitment might not be the first thing you want to spend that influx of capital on”. It was important for Louis to focus on building a culture of collaboration or as he puts it, “a family”, which allowed his business to present a united front while facing stakeholders.
Nicola, founder of Issues Magazine Shop, experienced similar hurdles: “As a retail business, bringing in products is one of the most challenging aspects, and where you’re going to spend the most”. She revealed that taking the time to experiment and explore which partners aligned best with her values and her financial situation was crucial during the first few months post-launch. She also admitted that while it was not in her plans to hire immediately following the opening of her company, it was the best decision she made: “Having a team there with you from the very beginning does build that culture and community.”
The panellists affirmed that perseverance, patience, self-belief and confidence in your community, are key to starting and running a successful business in uncertain times
Hundreds of aspiring entrepreneurs attended the event and received precious advice from our panelists who encouraged them to ask for help, including checking out local resources such as universities and incubators that can help them in incorporating their business, or attending networking events in order to meet like-minded individuals they can collaborate with on their journey.
Watch the full recording of the panel discussion on YouTube.
E06: Rewriting the Canadian Dream through entrepreneurship
Tune into our new podcast, Startup + Prosper! Our podcast is dedicated to the key elements of the entrepreneurial mindset, with a particular focus on the current state of Black entrepreneurship in Canada. Each of the episodes aims to inspire and educate listeners about Black-owned businesses and their reality while providing more insight into Futurpreneur’s goals to grow, learn and help address the disparities faced by the BIPOC entrepreneurial community. Read their stories, listen and subscribe to our podcast, Startup + Prosper:
E06: Rewriting the Canadian Dream through entrepreneurship
As Canadians, we pride ourselves on the multicultural nature of our country – a unique reality also reflected in the diversity of Canadian entrepreneurship.
Ivan Touko, founder of La Connexional, embodies the so-called “Canadian dream” through his inspiring journey. The entrepreneur, community developer, and artist was named among Alberta’s 30 under 30. Merging entrepreneurship and art in his projects, Touko explains: “I am passionate about social innovation and technology and how the intersection of social innovation, technology and culture can benefit communities that are usually underserved.”
At the age of 16, Touko moved to Edmonton from Cameroon. On his way to success, Touko had to overcome many barriers. “When I emigrated, I experienced a great sense of isolation from my culture and communities. It was difficult to find Cameroonians my age or people who looked like me to develop a support system,” he remembers.
Building Community Through Culture
In school, Touko met classmates who introduced him to dance and percussion. “Through dance and drumming, I had also found a group to belong to. That’s really what helped me, at that time, to navigate the whole thing,” he recalls. Following this decisive encounter, Touko became increasingly involved in the cultural scene, eventually becoming a professional dancer. He says that it was this passion that allowed him to get to where he is today: “Through dance, I learned discipline and consistency. The person who managed the group was an entrepreneur.” From observing his teacher, Touko was exposed to the concept of art as a professional path and learnt how to manage operations, from logistics to performances.
While establishing himself as an artpreneur, Touko studied environmental science and conservation in university. “On the one hand, it has nothing to do with what I am doing today. On the other hand, my major being in sustainable development, I decided to focus on the social aspect and the importance of creating vibrant communities that contribute to social well-being” .
It was also at university that the artist met the person with whom he would later co-found La Connexional, a socially-driven enterprise that promotes the talents of Afrodescendent and Latino people in Edmonton, where he still resides. Relying on community-oriented workshops and events, the co-founders “create physical and virtual spaces for these communities to grow, learn collectively and create new resources. (…) It impacts adjacent communities because when you create a resource for a particular community, it’s not just that community that benefits from it.”
The idea grew out of his student days, when Yvan Touko had the opportunity to get involved in the African Students Association, which led him to plan events and build a network. Like many of his peers, Touko and his friends wanted to party. However, they noticed a lack of Afrobeat, Latin and Caribbean music. “We needed something different, something reminiscent of my nights in Cameroon before I immigrated to Canada”. To remedy this, he launched a first music event to which as many as 500 people showed up. “There were about 10-15% of these people from the Latin, African or Caribbean communities,” he says.
Aside from event planning, the entrepreneur finds a passion in community development. “I was lucky enough to find a group,” Touko notes. “Many others may not have been so fortunate, so it was important for me to create spaces that offered that”—a need even more acute outside of Toronto or Montreal.
Leveraging the Tools
The Connexional remains an organization small in numbers but not in impact. The company leverages the tech tools made available to carry out its mission and projects. “Today, we are seeing a big boom in SAAS (software as a service), which develops tools to allow small organizations, like La Connexional, to get started without teak or coding expertise,” he points out. The initiative’s website reflects this approach, as does their use of free or low-cost tools: Canva for visuals; Hootsuite, Linktree, or Taplik for social network management; as well as Deskera for accounting, billing, and marketing. “Shopify, which is one of the most effective platforms for companies with products for sale, offers a free 3 to 6 months for Black entrepreneurs,” he also notes.
For those interested in starting an initiative of their own, Touko recommends not only getting mentoring and access to resources as early as possible, but also developing a business plan. “With La Connexional, we organized so many different events that helped us see which areas were the best fit for us. But having a strategic plan would have surely helped me to come up with more sustainable initiatives impacting the business and its growth,” he points out.
To hear the full story of Ivan Touko, listen to the podcast episode on The Canadian Dream—A Story of Immigration and Entrepreneurship, available on Spotify and Youtube.
E05 Demystifying business loans: Why would I need them?
Tune into our new podcast, Startup + Prosper! Our podcast is dedicated to the key elements of the entrepreneurial mindset, with a particular focus on the current state of Black entrepreneurship in Canada. Each of the episodes aims to inspire and educate listeners about Black-owned businesses and their reality while providing more insight into Futurpreneur’s goals to grow, learn and help address the disparities faced by the BIPOC entrepreneurial community. Read their stories, listen and subscribe to our podcast, Startup + Prosper:
E05 – Demystifying business loans: Why would I need them?
What’s in a business loan, really? Kettie Belance, account manager at RBC― also an entrepreneur, professional singer, mother and all-around passionate person― gets to the nitty-gritty. Her role, she explains, is to provide guidance, backed by over 20 years of experience working at RBC and her own entrepreneurial journey.
“We need to make sure that our dreams come true”, said the account manager, after quoting Harriet Tubman, who famously said, “every great dream begins with a dreamer” . “Then, we must make it happen, and a great way to begin is to get help, and information on how to go about it.”
Lending a hand
A loan can open so many impactful possibilities for Black entrepreneurs. However, stigma lingers around borrowing money, credit, and the lack of financial literacy. “Knowledge is power” , declared Belance, who is committed to changing the mentality. “With that, you can make better choices, see for yourself, your family, and everybody around then you become an ambassador », she said.
And you don’t have to go through it alone. The account manager recommends getting the bank involved in the process as early as possible. « The earliest you get your banker involved, the earliest we can help you plan », she explains. Your financial partner can explain what is needed to get approval for a loan and how to go about it.
That’s not the only thing they can do for you. The advice comes in many forms. « Maybe I could advise you with an accountant, with somebody who does specialize in financial planning or investing, there are there are so many partners that can be part that could like surround your project the most of the people are not aware », she details.
Go and get it
Do you need money to make money? What you actually need is financing, explains Belance. « The business owner needs to have money that they s going to inject into the business », she explains, comparing it to a baby. That is where the loan comes in handy. « if someone else is going to give you additional capital you have to also show them how much you’re willing to put into your baby, your business, your dream. »
A loan is money you borrow from a financial institution. Your counsellor can advise you on the type and the terms if can take, and what is best for your situation. And there are so many options available. « That’s why I always refer back entrepreneurs to their bank because that’s where you get all the information for the multiple products that you can have access to », recommends Belance.
To apply for financing, there is a process. And it can take longer than expected, so to not let discouragement settle. « You have to be patient, and you have to make sure that the person that’s doing the loan for you, keeps you aware of what’s going on where we’re at », she says.
As you might expect, one important element to consider is your credit history. But that isn’t the full story. « It’s very important because you decide to do financing in the financial institution and they don’t know you, the only thing that they have is your credit bureau. », she explains.
But this alone should never stop you from applying. « it’s not because you have a credit bureau that is less credible that it means that it amplifies that you’re going to be rejected », Belance underlines. « It can be explained if we can do some research we can make it look better ». Things such as your experience as a business owner will also be considered — a key element that is not known to everyone.
In all cases, the thing to do is to make the step and get the information. if you do face rejection, it does not stop there. An account manager can give you advice about how to remedy.« So, therefore, the next time you apply, we’re gonna get it », encourages Belance. The most important thing is to ask why, then not settled in discouragement, and try again. And for entrepreneurs, rejection is part of the process. And there are options. «you’re an entrepreneur, you’re gonna go through stuff, you know, I feel like just build character. But it’s easier said than done.
RBC also recently launched a new financing solution called the RBC Black intrapreneur business loans. « RBC is committed to enabling growth and wealth creation for black entrepreneurs», states Belance. « The way that we want to do that is by giving access to capital, access to experts and access to engagement in the community. », The program has no age limit and offers up to $250,000 with advantageous rates.
To know more about how RBC empowers Black Entrepreneurs, you can visit the website , and listen to the podcast episode Demystifying business loans: Why would I need them? on Spotify and Youtube.
E04: On Belonging and Taking Space with Alfred Burgesson
Tune into our new podcast, Startup + Prosper! Our podcast is dedicated to the key elements of the entrepreneurial mindset, with a particular focus on the current state of Black entrepreneurship in Canada. Each of the episodes aims to inspire and educate listeners about Black-owned businesses and their reality while providing more insight into Futurpreneur’s goals to grow, learn and help address the disparities faced by the BIPOC entrepreneurial community. Read their stories, listen and subscribe to our podcast, Startup + Prosper:
E04: On Belonging and Taking Space with Alfred Burgesson
Alfred Burgesson hasn’t always felt as though he belonged. When he was six years old, he left Ghana with his family to settle in Canada: “I moved to a town called Port Hawkesbury in Nova Scotia, with a population of 4,000 people. And it’s not very diverse,” he recalls.
By then, the experience was already prompting some essential questions. “I feel like from a young age, I was always looking for—I was always looking for a sense of community and like, who are my people here, who can I relate to?”
Finding your Kind
Decades later, not only did Alfred take up the space that he was due—he made sure to bring along everybody who looked like him and their talents. In 2020, he founded Tribe Network, connecting Black, Indigenous and People of Colour pursuing entrepreneurship and innovation with opportunities and each other. “Tribe Network came from my personal experience and from listening to the experience of other entrepreneurs. The organization is set out to be the BIPOC entrepreneurship hub in Canada,” he tells us.
Burgesson got an early start in entrepreneurship through an after-school program called Junior Achievement, where students come together with their peers to build a company. “I had a core group of people I was working with, and together, we were able to take up space,” explains the founder. “Entrepreneurship is about finding like-minded people who care about the problem you’re trying to solve. And together, you can take up space and create community,”, which is the mindset he carries with him still to this day.
Now, Tribe Network offers a space where entrepreneurs can support each other, which, in the eyes of the founder, is crucial. “You know, if I’m dealing with an issue, when I talk to an entrepreneur who’s already dealt with that, they’re able to give me direct feedback on how I can solve that issue, from their lived experience. So I think it’s really important that entrepreneurs surround themselves in a community where they belong.”
The idea for the network sprouted in the summer of 2020 through discussions between Alfred and his sister, who is an entrepreneur herself. The aim was to help build capacity for entrepreneurs and intrapreneurs and centralize that information. “The core of our conversation was—how can we give Black entrepreneurs a platform where they can sell their products and services to the world? How can we create a community where they can connect and learn from each other? How do we create a sense of belonging and community during COVID and lockdowns?”
Coaching, advising and mentoring are great ways to be supported, which you can access through Tribe. “I would encourage you to identify people who can support your entrepreneurial journey. But the crucial thing is that they believe in the problem you’re trying to solve, and that they believe in you.”
The Power of Data
Before launching his latest venture, Alfred Burgesson, an alumni of the Prime Minister’s Youth Council, was the co-chair of Canada’s first State of youth report.
He was also project lead at the African Canadian Senate group and the office of Senator Colin Deacon, a project aiming to dive deeper into the gaps for Black entrepreneurs in Canada. There, he was given the opportunity to study the problem he was initially exploring, gathering insight about the current state of Black entrepreneurship.
“The data that we collected definitely shed light on the state of Black entrepreneurs,” says the founder.
Information and numbers pertaining to BIPOC communities have historically been absent and underreported. “Fortunately or unfortunately, I think we are operating in a society and a system that often requires data to inform decisions,” says Burgesson. And when there’s data, there’s proof. Surveying has also allowed Black entrepreneurs to share their experiences and voice their concerns to governments.
“Through my work with the Senate, I realized that there were gaps in the entrepreneurship and innovation ecosystem. And the gaps had to do with entrepreneurs not being BIPOC, and not being connected with each other across the country,” says Burgesson. Furthermore, the entrepreneur states that his fellow BIPOC colleagues were not being connected to accelerators or incubators, which he is set on changing.
Turns out that these programs also need to be more representative of the population. “If they want more Black entrepreneurs, they need to have Black staff, coaches, mentors, plus language and resources that are tailored towards Black entrepreneurs,” Burgesson indicates.
Taking Up Space
Despite being an active entrepreneur for most of his life, Alfred Burgesson has felt at times that he was going through it alone. “Sometimes it’s challenging for entrepreneurs to walk into white spaces and thrive in them,” he says.
And it takes guts to get started and to keep at it. “It’s not an easy thing, and you need to have a lot of courage to succeed in entrepreneurship. So I think a part of that mindset is being able to walk in spaces where you’ll be the only one,” he says, speaking from experience.
And the burden shouldn’t only be ours to carry. “If an organization is going to make a commitment to being more diverse, I think it’s important that the team take a step back to recognize either the knowledge or lack of knowledge they have. It’s important to build capacity in the existing team to be able to support this new person or new people who are coming into your workplace,” pleads Burgersson. And we are talking about ongoing efforts, not a simple warm welcome. “You need to acknowledge and create the journey that will allow the entire staff to get better educated on how to support the community, not just the person coming in.”
For more perspective on breaking the glass ceiling, you can listen to the podcast episode “Taking Up Space: You belong!” with Alfred Burgersson.
This article was written by Christelle Saint-Julien
E03: Think Bigger —Escaping a Micro-Entrepreneurship Mindset With Frénie Jean-Baptiste
Tune into our new podcast, Startup + Prosper! Our podcast is dedicated to the key elements of the entrepreneurial mindset, with a particular focus on the current state of Black entrepreneurship in Canada. Each of the episodes aims to inspire and educate listeners about Black-owned businesses and their reality while providing more insight into Futurpreneur’s goals to grow, learn and help address the disparities faced by the BIPOC entrepreneurial community. Read their stories, listen and subscribe to our podcast, Startup + Prosper:
E03: Think Bigger —Escaping a Micro-Entrepreneurship Mindset With Frénie Jean-Baptiste
If it doesn’t serve you, let it go. What happens when we apply that to our mindsets?
Micro-entrepreneurship refers to small companies running on minimal investment, operated by a handful of employees. If that is what Frénie Jean-Baptiste, founder of Bayard Gâteaux and Bayard Royal, first set out to do, she always saw the bigger picture. In 2015, she launched an online business specializing in baking and delivering buttercream cakes. Since then, thousands of happy tasters have enjoyed these sweet treats at home and at events, such as weddings, parties and other celebrations. In 2020, Jean-Baptiste launched Bayard Royal, a line of rum cake products that are now sold online and at various points of sale across the province.
While it may be a small business, it is a mighty operation with an impressive reach. Frénie Jean-Baptiste never considered the scale of her operations, and we could all benefit from eschewing the micro-entrepreneurship mentality, which is very present among Black entrepreneurs.
Recent studies examine the realities of Black entrepreneurship in Canada. A report by Pitch Better Canada determined that 45% of Black women entrepreneurs consider their business’ lifecycle in a growth phase. Rise Up, a research project commissioned by the Black Business Professional Association (BBPA) conducted among 700 Black women entrepreneurs, concluded that the majority of the businesses surveyed operated from home were online, and had no employees. Moreover, the Inclusive Entrepreneurship: Exploring the Barriers Facing Black Entrepreneurs in Canada project, led by the African Canadian Senate group, highlighted the lack of access to capital and resources — 44% of businesses accounted for are not able to pay themselves. And while this is the case, 87% of Black entrepreneurs surveyed report that they are somewhat optimistic about the future of their businesses.
If Jean-Baptiste had an early interest in e-commerce, it was women entrepreneurs on YouTube who inspired her to launch her first venture. As a university student, she put out a party decoration website. In her own words, it was a bust. “It didn’t work out because it required a huge investment that I didn’t have,” she recognizes as she reflects back on the experience.
Her second idea came from the heart. Jean-Baptiste grew up very close to her grandmother—at only 4 years old, Frénie was already keen on helping her in the kitchen. Nearly two decades later, when she was attending university in Montreal, her grandma, who lived abroad, was diagnosed with cancer. Frénie decided to halt everything and spend time with her. “It was just like before, we started to cook again even though she was quite weak,” recalls the entrepreneur. Then, it just clicked. She loved to cook, bake and already had a lot of equipment, so why not launch a food business?
Quickly, Jean-Baptiste put together a logo. Bayard is her grandmother’s name, and the cake recipe is straight from her kitchen. “I showed it to my grandmother and she was very moved,” says Jean-Baptiste. Sadly, two weeks later, Mrs. Bayard passed on, leaving her legacy with her granddaughter.
Frénie Jean-Baptiste launched her business two months later. She sought to make herself stand out by having an online business. “There are many pastry chefs in Montreal and in the community. Why not make pre-decorated cakes that are sold online? All people have to do is to order the cake. It takes two clicks , and we take care of delivery.”
At the time, the business owner hadn’t yet imagined commercializing her product everywhere in Québec. “All I wanted was to have a business. Already, it was a challenge for me. I didn’t want to venture into entrepreneurship, it’s something I did because I saw other people do it,” she says.
In 2020, she launched another brainchild, Bayard Royal. This new project bakes and sells rum cakes through a different channel, strategy and website. The product is sold everywhere in the province, and can be found at select IGA stores. “We are targeting a much larger audience,” explains the founder, adding that the past few months have been heavy on production. “People often believe that there’s a big team behind it, but we are still operating with three people,” says Jean-Baptiste, who runs Bayard with her mother and her husband.
Keeping it modest never stopped her from thinking bigger, adjusting her strategy to her means and ambitions. “This is one of the reasons I worked hard on the strategy in order to simplify the production and manufacturing process,” she explains.
Would things be different if she launched today, rather than when she did in 2015? Absolutely. The businesswoman recognizes that there is more visibility and resources now available to Black-owned businesses. At the time, she had to do a lot of explaining for people to understand the project.
When starting out, she didn’t have a mentor. She turned to podcasts, YouTube videos, Instagram posts and books from entrepreneurs that offered guidance. “What I realized was that the people who were successful, especially in the food business, were the ones who had left the micro-entrepreneurial stage to expand into a bigger business,” she says. “It was often people who focused on one or two products, managed to save a lot on scaling and pushed out that product. I decided to have a similar strategy.” There goes one of the many pieces of advice she offers. “Instead of doing many things, having different products, pick one or two that you can master and commercialize.” For more insights, you can listen to the podcast episode Escaping a Micro-Entrepreneurship Mindset With Frénie Jean-Baptiste here.
This article was written by Christelle Saint-Julien
E02: Going your own way… and bringing the community along
Tune into our new podcast, Startup + Prosper! Our podcast is dedicated to the key elements of the entrepreneurial mindset, with a particular focus on the current state of Black entrepreneurship in Canada. Each of the episodes aims to inspire and educate listeners about Black-owned businesses and their reality while providing more insight into Futurpreneur’s goals to grow, learn and help address the disparities faced by the BIPOC entrepreneurial community. Read their stories, listen and subscribe to our podcast, Startup + Prosper:
E02: Going your own way… and bringing the community along
Setiz Taheri might be considered a serial entrepreneur. But all of his ventures have one thing in common: centering community.
“I’m just a regular guy from the neighbourhood who figured out a way to be creative and kinda enjoy redefining what community work looks like”, says Taheri.
As humble as he is, that means forging his own path, while also encouraging people to get involved. That is how La Rue Inspire, a collective of creative, engages the community, and always in an innovative manner. “Our main focus is community building and raising awareness on social issues. We feel the impact of our communities specifically, whether it’s through artistic projects, short films, events, or community initiatives”, explains the entrepreneur.
This is maybe what Setiz Taheri does best: partnering and collaborating with people. “A real strength is to know other people’s strengths. I’ve got a lot of go theod people around me that do a lot of things better than me. So working with people is just the best way that you can put your best foot forward”, he asserts.
Tehari first sought out entrepreneurship to see what his skills were, or could be. “I went all the way to university, and it just wasn’t for me”. He found that the same thing was true oftraditional work environments. “I knew I could do better for myself”, he recalls. “You just have to create situations in which you can see that the possibilities are real”.
Which he did, starting with his abilities and interests at the time; at the beginning, that was by selling t-shirts out of his trunk. “I tried a lot of things. I failed a lot. And that felt like it was the real thing for me, and that it fit my personality”, he explains.
Now older, with a teenager of his own, he is committed to being not only a role model, but an active listener and champion of youth. “I think a lot of times, when it comes to our youth, we don’t let them be them. We kind of want to box them in and put them on a path that we feel is right. But that’s what the system does. We shouldn’t do that on top of what they’re going through already”, he states.
Rather, he says, we should encourage them to not only be themselves – but also the best version of themselves. That includes support when rules are broken “That’s real love – making sure you’re there for your people, for your community, for your family, no matter what goes on. And that’s kind of the foundation of everything that I do”, he says, drawing from his own experience. It is also what allows one to keep pushing and believe in oneself. “Even if you don’t fit the conventional mold, find your own way and build your own path”, asserts the entrepreneur.
In that regard, this also means being open to learning and receiving feedback, which doesn’t need to happen in a classroom. “The most important thing is to educate yourself, the number one thing in entrepreneurship”, he emphasizes, pointing to himself as an example. “I was around a lot of people who did a lot of good things. So I just took a little bit from everybody, to shape the entrepreneur and the human I wanted to become”.
For more tips on how to pave your way and create change, listen to the podcast episode « Entrepreneurship: An Alternate Career Path », on Spotify and Youtube.
E01: The Unexpected Momentum Generated by the Black Lives Matter Movement
Tune into our new podcast, Startup + Prosper! Our podcast is dedicated to the key elements of the entrepreneurial mindset, with a particular focus on the current state of Black entrepreneurship in Canada. Each of the episodes aims to inspire and educate listeners about Black-owned businesses and their reality while providing more insight into Futurpreneur’s goals to grow, learn and help address the disparities faced by the BIPOC entrepreneurial community. Read their stories, listen and subscribe to our podcast, Startup + Prosper:
E01: The Unexpected Momentum Generated by the Black Lives Matter Movement
In 2020, the tragic death of George Floyd led to the resurgence of the Black Lives Matter movement. What followed was a major societal awakening to the issues facing
Black communities, which in turn propelled many Black-owned businesses toward their rightful place.
Two years later, social impact designer Danièle-Jocelyne Otou is still feeling the effects. She is the co-founder of New Room, an organization that offers program and resource development services pertaining to diversity, equity and inclusion, a venture which was launched in 2021.
Transformation Through the Movement
“My impression has definitely changed. At first, I was divided,” recalls Danièle-Jocelyne Otou, thinking back to how the movement put Black people and communities in the spotlight. For many, the complexity of the situation generated a sense of ambivalence. “On the one hand, I was happy that people in general were confronted with certain things, and on the other, I was puzzled: it took the public death of a Black man for certain institutions to wake up,” explains the entrepreneur.
Progress is being made on the social and political fronts, and many have taken action. Programs such as the BlackNorth Initiative, Futurepreneur’s Black Entrepreneur Startup Program, and the federal government’s funding for Black entrepreneurs and organizations that work with Black communities are all initiatives born from the movement. “There is still work to be done, of course, but I think recognizing the progress that has been made is just as important as looking critically at the work that still needs to be done,” says Otou.
While Otou is not new to entrepreneurship, things have come a long way since 2020. “The difference I feel is the support of the entrepreneurial ecosystem and the resources that are available to us,” says the entrepreneur, who, eight years ago, was living a very different life when she started her first business. “I think it’s partly because in the last two years, a lot of these ecosystems realized how opportunities are not equal.”
What’s Next
The passage of time also allows us to see how far we’ve come in the wake of a movement. “Two years later, I consider that, depending on the initiatives, we have succeeded, as a community, in being able to gauge the level of sincerity of certain initiatives, posts or reflections,” says the entrepreneur. Things like performative statements are still hard to navigate–how do we know if those making them are actually putting in the work? “I think that today there is a real sense of accountability that is being demanded of companies and leaders, so there is a lot of demand, which has propelled us,” says the social design specialist, who, through her work, aims to turn momentum into concrete actions and real change.
In entrepreneurship, you cannot afford to overlook your personal growth. This is the advice of Danièle-Jocelyne Otou: invest in your personal and professional development. “Our businesses reflect who we are. By being the best version of ourselves, our businesses and the people they attract are also at their best,” says the entrepreneur. “We take just as much time to transform ourselves and contribute to the social transformation we want to see. The self always precedes the systemic. We can’t change the systems without changing ourselves.”
To learn more, listen to the podcast episode on how the resurgence of the Black Lives Matter movement has propelled businesses on Spotify and Youtube.
This article was written by Christelle Saint-Julien
Startup + Prosper: A podcast highlighting the current state of Black entrepreneurs within Canada.
Tune into our new podcast, Startup + Prosper! Our podcast is dedicated to the key elements of the entrepreneurial mindset, with a particular focus on the current state of Black entrepreneurship in Canada. Each of the episodes aims to inspire and educate listeners about Black-owned businesses and their reality while providing more insight into Futurpreneur’s goals to grow, learn and help address the disparities faced by the BIPOC entrepreneurial community. Read their stories, listen and subscribe to our podcast, Startup + Prosper:
Think Bigger – Escaping a Micro-Entrepreneurship Mindset With Frénie Jean-Baptiste
On Belonging and Taking Space with Alfred Burgesson
Frénie Jean-Baptiste, Think Bigger – Escaping a Micro-Entrepreneurship Mindset
Think Bigger —Escaping a Micro-Entrepreneurship Mindset With Frénie Jean-Baptiste
If it doesn’t serve you, let it go. What happens when we apply that to our mindsets?
Micro-entrepreneurship refers to small companies running on minimal investment, operated by a handful of employees. If that is what Frénie Jean-Baptiste, founder of Bayard Gâteaux and Bayard Royal, first set out to do, she always saw the bigger picture. In 2015, she launched an online business specializing in baking and delivering buttercream cakes. Since then, thousands of happy tasters have enjoyed these sweet treats at home and at events, such as weddings, parties and other celebrations. In 2020, Jean-Baptiste launched Bayard Royal, a line of rum cake products that are now sold online and at various points of sale across the province.
While it may be a small business, it is a mighty operation with an impressive reach. Frénie Jean-Baptiste never considered the scale of her operations, and we could all benefit from eschewing the micro-entrepreneurship mentality, which is very present among Black entrepreneurs.
Recent studies examine the realities of Black entrepreneurship in Canada. A report by Pitch Better Canada determined that 45% of Black women entrepreneurs consider their business’ lifecycle in a growth phase. Rise Up, a research project commissioned by the Black Business Professional Association (BBPA) conducted among 700 Black women entrepreneurs, concluded that the majority of the businesses surveyed operated from home were online, and had no employees. Moreover, the Inclusive Entrepreneurship: Exploring the Barriers Facing Black Entrepreneurs in Canada project, led by the African Canadian Senate group, highlighted the lack of access to capital and resources — 44% of businesses accounted for are not able to pay themselves. And while this is the case, 87% of Black entrepreneurs surveyed report that they are somewhat optimistic about the future of their businesses.
If Jean-Baptiste had an early interest in e-commerce, it was women entrepreneurs on YouTube who inspired her to launch her first venture. As a university student, she put out a party decoration website. In her own words, it was a bust. “It didn’t work out because it required a huge investment that I didn’t have,” she recognizes as she reflects back on the experience.
Her second idea came from the heart. Jean-Baptiste grew up very close to her grandmother—at only 4 years old, Frénie was already keen on helping her in the kitchen. Nearly two decades later, when she was attending university in Montreal, her grandma, who lived abroad, was diagnosed with cancer. Frénie decided to halt everything and spend time with her. “It was just like before, we started to cook again even though she was quite weak,” recalls the entrepreneur. Then, it just clicked. She loved to cook, bake and already had a lot of equipment, so why not launch a food business?
Quickly, Jean-Baptiste put together a logo. Bayard is her grandmother’s name, and the cake recipe is straight from her kitchen. “I showed it to my grandmother and she was very moved,” says Jean-Baptiste. Sadly, two weeks later, Mrs. Bayard passed on, leaving her legacy with her granddaughter.
Frénie Jean-Baptiste launched her business two months later. She sought to make herself stand out by having an online business. “There are many pastry chefs in Montreal and in the community. Why not make pre-decorated cakes that are sold online? All people have to do is to order the cake. It takes two clicks , and we take care of delivery.”
At the time, the business owner hadn’t yet imagined commercializing her product everywhere in Québec. “All I wanted was to have a business. Already, it was a challenge for me. I didn’t want to venture into entrepreneurship, it’s something I did because I saw other people do it,” she says.
In 2020, she launched another brainchild, Bayard Royal. This new project bakes and sells rum cakes through a different channel, strategy and website. The product is sold everywhere in the province, and can be found at select IGA stores. “We are targeting a much larger audience,” explains the founder, adding that the past few months have been heavy on production. “People often believe that there’s a big team behind it, but we are still operating with three people,” says Jean-Baptiste, who runs Bayard with her mother and her husband.
Keeping it modest never stopped her from thinking bigger, adjusting her strategy to her means and ambitions. “This is one of the reasons I worked hard on the strategy in order to simplify the production and manufacturing process,” she explains.
Would things be different if she launched today, rather than when she did in 2015? Absolutely. The businesswoman recognizes that there is more visibility and resources now available to Black-owned businesses. At the time, she had to do a lot of explaining for people to understand the project.
When starting out, she didn’t have a mentor. She turned to podcasts, YouTube videos, Instagram posts and books from entrepreneurs that offered guidance. “What I realized was that the people who were successful, especially in the food business, were the ones who had left the micro-entrepreneurial stage to expand into a bigger business,” she says. “It was often people who focused on one or two products, managed to save a lot on scaling and pushed out that product. I decided to have a similar strategy.” There goes one of the many pieces of advice she offers. “Instead of doing many things, having different products, pick one or two that you can master and commercialize.” For more insights, you can listen to the podcast episode Escaping a Micro-Entrepreneurship Mindset With Frénie Jean-Baptiste here.
This article was written by Christelle Saint-Julien
First Nations woman, Holly Atjecoutay, leads Futurpreneur’s Indigenous Entrepreneur Startup Program
Indigenous resiliency and resurgence: key pillars in the National entrepreneurial ecosystem
Cree-Saulteaux entrepreneur, Holly Atjecoutay, has been appointed director of the Indigenous Entrepreneur Startup Program (IESP) at Futurpreneur. In her new role, Atjecoutay will oversee the development of a comprehensive program dedicated to empowering and supporting Indigenous youth as they embark on the journey of entrepreneurship.
Commenting on her recent appointment, Atjecoutay said she was drawn to Futurpreneur because “it is a nationwide initiative, not constricted by provincial borders.” She added, “It presents an opportunity to build a community and to build programming that is specific to our Indigenous entrepreneurs, to our Indigenous communities, and particularly to our Indigenous youth so that they can see themselves as part of the greater national entrepreneurial ecosystem . The programs will focus on their specific needs, present solutions to challenges they experience, and will give nuance to their perception of what defines a successful business.”
The Indigenous Entrepreneur Startup Program is one of several startup programs offered by Futurpreneur. It was established to provide tailored support and programming for Indigenous entrepreneurs across Canada. Through the IESP, young entrepreneurs can receive up to CAD $60,0000 in capital financing, are matched with an expert mentor for up to two years, and gain access to an array of resources and workshops designed to help them set up their businesses for success. Since the programs launch in 2019, more than 100 young Indigenous entrepreneurs have received financing from Futurpreneur programming to launch various businesses nation wide.
Atjecoutay has long been immersed in the world of Indigenous entrepreneurship and youth empowerment. She started her career working for an Indigenous-led oil and gas organization in Alberta before shifting her focus to the nonprofit sector. With an interest in economic and business development and a hyper-focus on entrepreneurship within Indigenous communities, she worked with youth at the Aboriginal Friendship Center in Calgary, developing programs and initiatives for Indigenous youth in that region. Subsequently, she joined a First Nations-owned and operated law firm to work with residential school survivors, conducting research and extensive interviews that resulted in compensation being put forth from the federal government for the hardship, abuse, and suffering endured by First Nations people. Prior to her joining Futurpreneur, she led the Indigenous Business Development Services Program at Business Link, creating and implementing tools, supports, and programming for Indigenous entrepreneurs in Alberta.
As Atjecoutay became more involved in entrepreneurship, her “love truly blossomed and grew for the resurgence of economic resiliency within Indigenous communities.” According to her, pre-contact First Nations peoples lived in egalitarian societies where “people very much took care of one another. Everyone held a strong role in society, which nowadays really translates to what we would consider as ‘entrepreneurship’ or a ‘business.’ So, that’s where I started to draw those finite lines to what our communities can do on a grassroots level, to ensure that we’re prosperous and that we’re building a positive and prosperous future for our next generations.”
An entrepreneur herself, Atjecoutay’s side business, Thunderbird Consulting, stemmed from her passion to bring Indigenous resilience to the forefront of social and corporate conversations in Canada and to raise awareness among Canadians and non-Canadians, alike, about Indigenous culture, heritage, and history.
Continuing to develop a robust offering that is Indigenous-centric is at the top of Atjecoutay’s plans for the IESP. A combination of her lived experience and know-how as “a First Nations woman living within an urban centre,” she said, will guide her next steps in developing programming that addresses the root problems and challenges that young Indigenous entrepreneurs encounter, but also highlights the opportunities, networks, and systems in place to support them. “There are positive and negative pieces, just like everything else, but we want to focus on the positive and what our young Indigenous entrepreneurs bring. That is their value proposition, niche, and unique business models so that we can amplify that and support them in various ways.”
Ultimately, she said, my goal is to “foster collaboration between Indigenous businesses to support one another, which will eventually bolster the economic resurgence that we’re working toward.”
Indigenous-owned businesses contribute millions of dollars every year to the Canadian economy and provide thousands of jobs to Indigenous and non-Indigenous employees in Canada. “Their contributions are an important pillar of the economy, yet there is not enough awareness about the significance of Indigenous-owned and operated businesses, which is a huge barrier to success when you’re starting a small or medium-sized business,” she said. “I’m incredibly honoured to take on this new and exciting role, alongside the Indigenous Entrepreneur Startup Program team, to amplify Indigenous resilience and make a tangible difference in the best way that we can,” said Atjecoutay.
Learn more about Futurpreneur’s Indigenous Entrepreneur Startup Program team and offering here.
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Common Questions About Incorporation
Whether you’re an established entrepreneur or a new sole proprietor, if you’re contemplating incorporating your business, you likely have questions… lots of questions. That’s great! Inquiring and doing your research is the first step to incorporating––and that’s what we’re here to help you with.
Many new entrepreneurs come to us with a multitude of questions about incorporating, so we’ve endeavored to give you as much information as we can to help set you on the path to success.
What does it mean to incorporate my business?
What are the pros and cons of incorporating?
Pros:
- Limited liability
- Continuous life
- Tax advantages
- Need funding? No problem(ish)
- Enhanced credibility
Cons:
- Far more complicated
- You don’t have entire control
How do I incorporate my business?
Some frequently asked questions
- 1. What are Articles of Incorporation?
- 2. What is a minute book?
- 3. Should I incorporate federally or provincially?
- 4. Do I have to incorporate before starting my business?
- 5. What is the cost of incorporation?
What does it mean to incorporate my business?
Incorporating your business means legally separating yourself from your company. This influences business spheres like taxes, liability, and salary.
To incorporate your business, you first need to decide if you want to incorporate federally or provincially. This will impact where you can operate your business and even how far name protection extends (will it be just in the province you’re operating or will it be across Canada?).
The process of incorporating includes filing an articles of incorporation, along with paying the appropriate fees and submitting a NUANS search report. If this sounds overwhelming, don’t worry. There’s help for that, too.
What are the pros and cons of incorporating?
You may be asking yourself, “why should I incorporate my business?” That’s a reasonable question, after all, incorporating can feel like a big step for your business. That’s why it’s important to draw up a pros and cons list.
Lucky for you, we’ve done exactly that.
Pros:
Limited liability
This is the main reason why entrepreneurs choose to incorporate their businesses. When you incorporate your business, it becomes its own legal entity. That means assets that don’t belong to the business (such as your personal savings, your home, car, and any other assets in your name) are protected from potential lawsuits or debt collections.
However, there are always some exceptions where directors can be held personally liable. These are:
Any unpaid employee wages and vacation pay, up to six and 12 months, respectively.
- Employee deductions and remittances, including source deductions for employee income taxes, as well as EI and CPP contributions.
- Any GST/HST collections that have not been remitted.
Continuous life
Because a corporation is an entity separate from its directors (you), your company can remain in existence in perpetuity regardless of what happens to you or your business partners.
For example, in some business structures, such as sole proprietorship, the business will dissolve if the owner leaves. However, with a corporation, shareholders can usually transfer their interest if they decide to pull out of the business. This also makes corporations a lot easier to sell than sole proprietorships.
Tax advantages
This is probably the second most common reason why sole proprietors choose to incorporate: the tax advantages it offers.
Let’s work with an example: You own your business as a sole proprietor and, therefore, you pay personal income tax on all your business’s earnings, regardless of how much you actually take home as a salary or reinvest back into it. But at some point, the income your business makes puts your personal income into a much higher tax bracket, and you find yourself paying the government a lot more than is really necessary. In this situation, it’s beneficial to incorporate your business in order to pay less personal income tax while still drawing a salary (which you will pay personal income tax on).
The major tax benefit comes courtesy of corporate tax rates being considerably lower than personal income tax rates.
Need funding? No problem(ish)
Getting a business off the ground or expanding your business is tough work and sometimes requires a lot of funds. This might be money you just don’t have laying around in your personal savings. That’s where funding can help
Corporations are far more likely to be awarded business grants, be given loans and credit lines, and secure investors than sole proprietorships are. In fact, you’ll be hard-pressed to find an investor who will invest in a business that can’t sell them shares.
Enhanced credibility
Speaking of credit: professional credibility goes a long way in the business world, and a company that has “Ltd.” or “Inc.” tacked onto the end of its name is far more likely to be seen as credible. This helps establish you as a professional force, and you’ll be more likely to earn respect from future clients, as well as suppliers and other businesses you’ll work with.
Cons:
Far more complicated
Incorporating a business is by far more complicated than registering as a sole proprietorship. It requires a lot more paperwork and, if you decide to incorporate federally, that paperwork is even more detailed.
Keeping your incorporation status also requires annual updates. Keeping a minute book, which is a collection of documents that basically set out the entire framework of your company, is also legally required.
Tax advantages
It also works the other way around if you lose money in your business. If, for example, you are incorporated and you lose money in your first year of business you cannot claim those loses (you have to carry those loses forward until you make a profit in subsequent years). As a sole proprietorship you are allowed to claim business loses against any other income you make from the start.
You don’t have entire control
This is a scary thing for many business owners considering incorporation. As the owner, you no longer have entire control over what happens in your business as you may have other directors, shareholders, and investors. So think critically about whether this is something you can manage.
How do I incorporate my business?
Incorporating your business is a detailed process that needs to be done correctly. Some business owners choose to hire a lawyer, but the fees can be prohibitive. That said, doing it yourself isn’t always recommended as it can take a lot of time and, if not done properly, can be costly down the road.
That’s why Ownr is here to help. Ownr can incorporate your business for a fraction of the cost than if you’d hired a lawyer. Plus, you get top-tier customer service, as well as an online dashboard so you can keep track of all of your documents and Minute Book.
If you do choose to do it yourself, incorporating your business takes a few steps:
Step 1: Decide where to incorporate
In Canada, you have the option to incorporate federally or provincially. As mentioned above, the main difference is where you’re permitted to conduct your business. Incorporating provincially means you’ll only be able to operate within that province, while incorporating federally allows your corporation to operate across Canada.
Keep in mind that if you choose to incorporate your business federally, you’ll still need to file your articles of incorporation in your province of operation as well.
Step 2: Choose a business name
This can be a really fun process, but unlike registering a sole proprietorship, you do need to have a NUANS report filed alongside your articles of incorporation.
A business name is typically threefold:
A distinctive element + a descriptive element + a legal identifier
For example:
Rosie’s [distinctive element] + Roses [descriptive] + Inc. [legal identifier]
Step 3: Prepare your documents
You’ll need to prepare your articles of incorporation, which is the blueprint for your business, and outlines your mission, location, business activities and restrictions, the number of directors and shareholders, share structure, and restrictions or share transfers.
Step 4: Submit your application
Ensure you have all your documents in order before submitting your application online or by regular mail. Check with your regional requirements as provinces can vary. These documents will include your NUANS name search report, registered office address, board of directors list, and filing fee. You’ll then receive your certificate of incorporation.
Step 5: Complete additional tasks
The process isn’t quite finished after receiving your certificate. There are a number of duties you are legally required to fulfill in order to maintain your incorporation status, such as drafting your corporate bylaws, issuing share certificates, creating a minute book, and registering your business provincially.
Incorporating your business can be an overwhelming undertaking. That’s why it’s important to seek help where you need it. Ask questions and even inquire within your own business community, even if just to reassure you and relieve some anxiety. However, the easiest way to incorporate and be sure you’re doing so correctly is to use our services at Ownr.
Some frequently asked questions
-
What are articles of incorporation?
Articles of incorporation are your legal documents submitted to the provincial, territorial, or federal governments in Canada. They’re used to establish your business as a legal entity and help set out your corporation’s purpose and regulations.
For a full rundown on articles of incorporation, check out this guide.
-
What is a minute book?
A minute book is a collection of essential documents that you need to maintain as part of your incorporation status. This includes:
Articles of amendment
- Bylaws and amendments
- Unanimous shareholder agreements
- Minutes of meetings and shareholder resolutions
- Notices filed
- A share register with shareholder names and addresses and details of the shares held
- A securities register
Your minute book needs to be updated at all times and kept in a secure location. Storing it online is a great idea, and Ownr can help you do that.
-
Should I incorporate federally or provincially?
This depends on your business goals. If you’re looking to conduct business across Canada, or need business name protection federally rather than just provincially, you may want to consider federal incorporation. If not, provincial incorporation is a simpler process.
Here’s a handy guide to help you through this decision.
-
Do I have to incorporate before starting my business?
Not at all! In fact, there are many sole proprietors who choose to incorporate long after they’ve been in business. It’s really an individual thing and something that you should do only when it’s right for you.
-
What is the cost of incorporation?
The cost of incorporation depends on where you incorporate, if you incorporate federally or provincially, and if you do it yourself, hire a lawyer, or use help like Ownr. For filing fees, it’s best to check with your region.
Ready to take the next step?
Choosing to incorporate your business is a big decision and one you might need some help with. When you do decide to register, Ownr can help you for a fraction of the cost of hiring a lawyer, and do so accurately and quickly. Plus, you’ll get all kinds of perks like a free NUANS report, minute book updates, 24/7 online access to all your documents, one-on-one onboarding, and ongoing support to set you up for success.