CanadianSME Small Business Magazine - January 2025 Edition by CanadianSME

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DearValuedReaders,

WelcometotheJanuary2025editionofCanadianSMESmall BusinessMagazine!Asweembracethenewyear,thisissueis dedicatedtocelebratingentrepreneurship thedrivingforce behindinnovation,growth,andcommunitybuildingacross Canada.Smallandmedium-sizedbusinessesarethebackbone ofoureconomy,andthismonthwespotlightthetrailblazers, visionaries,andchangemakersshapingthefutureofCanadian business.

Inthisedition,weareproudtofeatureJanetZuccarini,Founder andCEOofGusto54RestaurantGroup,asourBusiness WomanoftheMonthforJanuary2025.Herentrepreneurial journeyisaremarkablestoryofpassion,perseverance,and leadershipinthecompetitivehospitalityindustry.

We’realsoaddressingcriticaltopicsthatmattertoSMEsright now,suchascybersecurityessentialsforsmallbusinesses,ESG integrationtostrengthenbrandloyalty,andCloud&Techfor SMEs,BusinessTrends,RetailTech&E-commerce,andprovide actionableadviceforsmallbusinessesnavigatingtheevolving landscape.FromunlockingAI’spotentialwithCisco’sRobBarton toinsightsonengagementandwell-beingfromADPCanada’s Dr MaryHayes,ourcontributorsshedlightonthetrends shaping2025.

ThisissuefeaturesexpertadvicefromWorkplaceSafety& PreventionServices(WSPS.ca)onhowtosafelyhandle individualsindistressattheworkplaceandanarticleby hummonhowpurchasefinancingistransformingbusiness landscapes.Forthoseinretail,theCanGiftTradeMarkets2025 isamust-attendevent,offeringexcitingopportunitiestoshop localandconnectnationally

AspartofourNewYear’smessagesseries,leadersliketheHon. RechieValdez,MinisterofSmallBusiness,Canada,DonLudlow fromRBC,AshaleeMohamedfromXero,KarenGreveYoung fromFuturpreneur,PaulGaspar,DirectorofSmallBusinessat UPS®Canada,andKateNorris,DirectorofIHGBusinessEdge, sharetheirinsightsandencouragementforsmallbusiness ownersreadytotackletheopportunities2025brings.

Wehopethisissueservesasaguideandmotivatorforyour entrepreneurialjourneyin2025.Whetheryou'rescalingyour operations,seekinginnovativetools,orsimplyfindingnew inspiration,we’reheretosupportyoueverystepoftheway

wwwcanadiansmeca info@canadiansmeca canadiansme canadian sme canadiansme canadiansme

ThankyouforbeingpartoftheCanadianSMEcommunity.Here's toayearofgrowth,resilience,andnewopportunities

Warmregards, ShaikKhaleeluddin(SK) Editor-in-Chief,CanadianSMESmallBusinessMagazine

ISSN2562-0657(Online)

PublishedbyCmarketingInc 2800SkymarkAvenue,Suite203, Mississauga,ON Canada L4W5A6

ThecontentsinCanadianSMEMagazinearefor informationalpurposesonly NeitherCmarketingInc,the publishersnoranyofitspartners,employeesoraffiliates acceptanyliabilitywhatsoeverforanydirector consequentiallossarisingfromanyuseofitscontents

Boosting Workplace Happiness: Insights from ADP Canada’s Happiness@Work Index

Scaling Success with Healthy Crunch and the EY Entrepreneurial Winning Women™ program

Shaping2025:ADP Canada's Engagem being

HolidayTrends:Moneris’ TipsforSMBsin2025: InsightsfromKipling Macartney,

CulturalIntelligencefor BusinessGrowth: Insightsfrom MuralySrinarayanathas

OntarioDisabilityEmploymentNetwork Receives$1MillionGrantFromTheSlaight FamilyFoundationtoExpandProject SEARCHInitiativeThatReadiesYouthWho HaveaDisabilityforSuccessinWorkForce

ESG Integration: Strengthening Brand Loyalty and Investor Confidence

Innovations in Retail Technology: Shaping the Future of Shopping in 2025

Canadian professionals are actively jobhunting, despite nearly half expecting pay rises in the new year

UnlockingAI:Cisco’s RobBartononCanada’s FutureReadiness

StanleyMutual’s Workplace Transformation:ANew EraofSuccess

Product categories include Canadian Made, Souvenirs, Hand Made, Housewares, Home Décor, Fashion, Toys, Gourmet Food, Jewellery, General Gift & More!

Canada’s National Spring Show is the mustattend B2B event of the season From January 26 – 30, 2025 our industry comes together to gather inspiration, capture insights, network and discover innovative solutions for your stores

Located exclusively at the Toronto Congress Centre, this free event provides qualified buyers in the gift, home, fashion, and lifestyle categories with the opportunity to source product from the industry’s most trusted exhibitors

Sunday, January 26 to Wednesday January 29: 9 a.m. – 6 p.m. Thursday, January 30: 9 a.m. – 3 p.m. We invite you to join us – Register Today!

ImageCourtesy:CanGift

ShopLocalatWesternCanada’s LongstandingGift+HomeTradeShow!

The Alberta show is the premier gift + home event servicing Western Canadian Retailers who value the availability of a wholesale venue closer to their homes and businesses

Over the course of 3 days, February 23 – 25, 2025, the Alberta Gift + Home Market will inspire, inform and entertain qualified attendees at the Edmonton Expo Centre!

100+ exhibitors will showcase products from new and established brands in the gift, home, fashion and lifestyle categories

While at the show enjoy free amenities such as parking, wifi, coat check and other surprises!

Sunday, February 23 to Tuesday February 24: 10 a.m. – 6 p.m.

Wednesday, February 25: 10 a.m. – 3 p.m.

We look forward to welcoming you to the show –Register Today!

Welcome to Eastern Canada’s Newest Wholesale Trade Market! Debuting March 9-11, 2025, at the Moncton Coliseum, the Atlantic Gift + Home Market continues the Canadian Gift Association’s commitment to representing the national interests of its members and retail community by launching its second regional market

The Atlantic show will provide attendees with the opportunity to source exceptional products, in a costeffective enjoyable way, without spending too much time away from their businesses and store fronts

Wholesalers from the Atlantic region and from across Canada will feature products from Canadian Made, Hand Made, Fair Trade, and EcoFriendly assortments within their gift, home, fashion and lifestyle categories

Sunday, March 9 to Tuesday March 10: 10 a.m. – 6 p.m.

Wednesday, March 11: 10 a.m. – 3 p.m.

Join us for the first ever Atlantic Gift + Home Market –Register Today!

About the Canadian Gift Association (CanGift)

The Canadian Gift Association (CanGift) is the voice and entrepreneurial spirit of Canada’s $10 billion giftware industry Since 1976, this notfor-profit association has worked hard to make its members more competitive and successful In today’s evolving market, CanGift remains committed to being a force for positive change, acting as the industry’s best-known and most trusted “partner in growth” for businesses big and small CanGift enables members to network, discover the latest trends, make new business relationships and strengthen existing ones through the Toronto Gift + Home Market presented by Paid (Toronto Congress Centre), Alberta Gift + Home Market presented by Paid (Edmonton EXPO Centre) and our newest show the Atlantic Gift + Home Market (Moncton Coliseum) In addition to our face-to-face marketing opportunities, we offer a portfolio of member benefits designed to contribute to the bottom-line success of our members

Creating Strategic Advantages in a Competitive Market

Having a sense of control is essential in today's environment, particularly when making significant purchases Flexibility and convenience are becoming increasingly important to Canadians, whether they are tackling home remodelling projects or healthcare needs However, these goals are frequently becoming more challenging due to growing expenses, housing shortages and insufficient healthcare coverage.

Due to the rising cost of living, Canadians are actively searching for alternate payment methods to purchase necessities. Businesses can empower their customers and give them control over one of the most essential parts of completing a purchase - payment - by introducing flexible repayment choices.

There’s no denying that Canadians are struggling financially, with many finding it difficult to keep up with their everyday bills According to Statistics Canada, nearly half of the population feels that rising prices are impacting their ability to meet day-to-day expenses. The hard reality is that many Canadians are facing financial difficulties, despite the possibility of economic respite shortly. Large expenditures necessitate careful budgeting, and unforeseen costs frequently lead people to turn to friends for assistance, draw from savings, or rely on outside help According to a recent report, 61% of Canadians could not handle an unexpected bill of over $1,000, highlighting the widespread financial instability

This financial strain impacts businesses and customers Businesses suffer financial losses when customers are unable to make purchases Flexible purchase financing offers a win-win solution These plans enable customers to stretch repayments over time, making the cost of necessities more manageable while also creating an opportunity for businesses to increase revenue Humm Canada has been a leader in reducing the complexity of purchase financing by providing simple, adaptable and userfriendly options Their objective is to minimize hassle while making funding advantageous for both parties

Benefits for Both Custome

The purchase financing options offe example, have several beneficial fe partner with humm can provide rep of purchase amounts, ranging from investments up to $30,000 From biw over a few months to longer-term in years, customers can choose the re fits their budget With a credit decis application process is quick and str can also pay off their financing bala without incurring penalties This deg increases the accessibility of goods greater customer loyalty and happi

By providing flexible repayment options, businesses can increase their capacity to draw in new customers, increase sales, and boost overall revenue. Thanks to humm's userfriendly technology, customers can easily manage their financing plans through a simple app, leading to smooth and easy repayments. Additionally, businesses may focus on their core strengths as humm manages the intricacies of financing, including risk and credit assessments. Another key benefit is the decrease in administrative tasks, such as tracking down overdue payments, which saves time and money.

A True Partnership Approach

Humm Canada is dedicated to more than just offering lending choices They work to establish genuine relationships with the companies they partner with, providing them with direction, materials and continued education to ensure their success Through collaboration, humm ensures that the financing process is not only easy and effective but also a growth engine for the companies they work with

Canadians in Control

Purchase financing is an effective tool for giving Canadians control over their financial choices If payments can be spread out over time, more people can obtain necessary goods and services without experiencing financial strain Businesses that adopt flexible repayment options will be better able to satisfy their customers' needs and wants, and ensure long-term success as the economy continues to change

To learn how humm’s purchase financing can boost your business, visit humm’s website.

Your role in staying updated is integral to our shared mission of fostering a community of innovators CanadianSME Magazine is a valuable treasure trove of entrepreneurial knowledge Click here to subscribe to our monthly editions for updates on Canadian businesses Follow our handle @canadian sme on X to remain updated on all business trends and developments Your support is crucial to our mission

ImageCourtesy:WSPS

If someone who was in crisis agitated, aggressive, confused walked into your store or restaurant, would you know what to do? “We’re getting more calls from businesses whose staff are encountering individuals who may be unhoused, impaired, or experiencing a mental health crisis and staff members aren’t sure how to handle it,” says Kristy Cork, Specialized Consultant with Workplace Safety & Prevention Services (WSPS). “It could even be a library. We’re not talking about angry customers. We’re talking about people in distress.”

These types of situations are becoming more common in cities across Ontario, particularly in downtown areas and places with a lot of foot traffic. As an employer, you need to prepare your staff to deal with these types of situations safely

“For example, if an employee arrives in the morning to open the store and finds someone sleeping in front of the main doors, what are they supposed to do?” asks Kristy “Or what if someone in crisis walks into the store and begins yelling at customers? Workers will usually try to get the individual to leave,” says Kristy “But how do they do that safely?”

Teach staff to start with kindness

When you are dealing with someone who is impaired or who may be experiencing a mental health crisis, you must understand that they may not process what you are saying rationally Kristy explains that when faced with a situation like the ones described above, its best to focus on regulating the individual’s behaviour. “Honestly, sometimes it's best to start by offering the person a bottle of water Show them a little kindness rather than immediately telling them that what they are doing is wrong, ” says Kristy When you express human understanding, it often defuses aggression and encourages co-operation

Kristy also suggests getting to know the shop’s neighbours so that employees can support each other “If you ’ re a small business owner who may have only two or three employees, it’s a good idea to build relationships with the other small businesses in the area, ” says Kristy Having a support network that you can call upon is very helpful when these circumstances arise

4 tips for dealing with a person in crisis at work

Because these potentially violent situations are happening more often, it’s important to train your employees on how to handle a person in crisis Share these four tips so your employees know how to respond safely.

Never initiate physical contact. When you put your hands on someone, they may feel threatened, which could lead to a violent reaction

Ensure you have a means to summon help. Before you approach a person who is impaired or in distress, tell someone Make sure you can reach them if the situation escalates, either by having them within your sight or via a phone call if they are in another room or next door

Give the individual options. Avoid telling an individual in crisis what they must do. Instead, give them choices. “For example, ask them if they would prefer to come and sit down away from the door and have some water or ask them if they would like you to call someone for them,” says Kristy. Providing choice helps a person feel more in control, which can help regulate their behaviour

If you see a weapon, call 911 and get to a safe place. If someone enters your workplace with a weapon, do not attempt to approach them Call 911 Have a procedure in place and train your staff so that they know exactly what to do if this happens Designate a safe space (e g , interior storage room, out a back door to a neighbouring shop) and make sure all staff knows where it is.

Support & Resources

ConnectwithWSPSexpertstodevelopyourviolenceand harassmentprogram

ViolenceandHarassmentPrevention:Situational AwarenessandDe-escalation(Online,Instructor-Led Training,4hours)

WorkplaceViolence&HarassmentTraining(eCourse)

HarassmentandViolencePreventionforEmployees (eCourse,1hour) 5de-escalationtipswhenrespondingtoagitated customers

SmallBizBytes:WorkplaceViolenceandHarassment (video)

ReportingWorkplaceViolenceandHarassment

InfluencingCanadian SMEsin2025 Key Economic Trends

BySKUddin,CanadianSME

As the Canadian economy adjusts to a postpandemic climate, small and medium-sized businesses (SMEs) face a dynamic combination of possibilities and challenges SMEs, which account for 99% of the businesses in Canada and employ more than 60% of the private sector workers, play an essential part in the country's economy The article examines the most significant economic issues affecting Canadian SMEs in 2025, providing ideas for firms to adapt and succeed

Modest Economic Growth and Opportunities in Borrowing

Canada's real GDP is predicted to grow by 1.8% in 2025, a slight improvement over the 1.6% growth recorded in 2024 Easing inflation and the Bank of Canada's projected interest rate cuts which are expected to drop to 2 75% by the middle of the year are supporting this rebound These policies give heavily indebted SMEs much-needed respite and create opportunities for investment in growth and innovation

However, challenges persist Lower interest rates spur consumer spending and investment, but the gains will be distributed unevenly across sectors For example, households renewing fixed-rate mortgages may still face higher payments, reducing discretionary spending SMEs can take advantage of this period of calm by improving operational efficiency and using favourable borrowing circumstances to fuel growth

Persistent Workforce Gaps Despite a Calmer Job Market

Even as the employment market cools, labour shortages remain an issue for Canadian SMEs According to reports, the percentage of enterprises experiencing skilled labour shortages has dropped to 40% from 55% in 2022 However, essential sectors like construction, technology, and manufacturing continue to have a demand-supply mismatch

Stricter immigration laws and slower population growth exacerbate this problem by reducing the pool of skilled workers In response, SMEs are concentrating on staff retention initiatives and increasing compensation by an average of 2 3% Several companies are also funding automation and upskilling programs to lessen the effects of labour shortages

To prosper, SMEs should continue to prioritize workforce development and research technological solutions that reduce dependency on physical labour while preserving productivity

Pressures from Inflation and Rising Costs

Although inflation will likely settle near the Bank of Canada's 2% objective, SMEs face ongoing cost constraints Rising salaries, energy, insurance, and raw material costs, combined with continuous supply chain issues, are straining budgets These challenges have driven 42% of SMEs to raise prices, while 39% have delayed expansion plans due to high expenses

Businesses that cater to consumers, such as retail and hotels, are especially at risk since demand is slowed by lower household purchasing power. SMEs might investigate cost-cutting strategies like renegotiating supplier agreements or implementing energy-efficient technologies to buck these trends Utilizing government programs for sustainability projects can reduce costs and meet environmental objectives

Sustainability: A Strategic Edge for SMEs

For Canadian SMEs, sustainability is still crucial in 2025, having evolved from a preference to a competitive requirement Regulatory changes, such as mandated climate disclosures and tighter guidelines on environmental claims, highlight the significance of implementing green practices

Businesses that integrate sustainable solutions, such as renewable energy and green manufacturing methods, can reduce costs and increase consumer loyalty Federal efforts such as Canada's Net-Zero Emissions Accountability Act provide financial assistance to SMEs pursuing low-carbon transformations

To remain competitive, SMEs should prioritize sustainability audits, collaborate with cleantech providers, and incorporate environmentally friendly practices into their operating models. This can boost profitability while satisfying growing regulatory and customer expectations

Harnessing Technology for Growth

The landscape of SMEs is constantly changing due to digital transformation, which provides resources to improve productivity and client interaction. The adoption of new technologies, such as e-commerce platforms and AI-driven analytics, is allowing companies to reduce expenses and grow operations Remaining competitive in a high-cost market increasingly depends on investments in automation and data-driven solutions

Government-backed programs provide technology adoption funding, which aids SMEs in embracing digital innovation By taking advantage of these opportunities, businesses can boost efficiency, optimize operations, and better adapt to shifting market needs

Looking Ahead: Navigating 2025 with Resilience

In 2025, Canadian SMEs will face a diverse economic environment that includes moderate growth, workforce issues, cost pressures, sustainability imperatives, and digital transformation Navigating these developments necessitates a proactive strategy, innovation, and adaptation approach

Investing in worker development, supporting green efforts, and capitalizing on digital opportunities are all crucial for long-term success SMEs that remain informed and nimble will not only overcome hurdles but will also establish themselves as economic growth generators Canadian SMEs can continue to make substantial contributions to their communities and the economy by combining resilience and forward-thinking initiatives

Your role in staying updated is integral to our shared mission of fostering a community of innovators CanadianSME Magazine is a valuable treasure trove of entrepreneurial knowledge Click here to subscribe to our monthly editions for updates on Canadian businesses. Follow our handle @canadian sme on X to remain updated on all business trends and developments Your support is crucial to our mission

Generative artificial intelligence (AI) has transformed small businesses, transforming how they operate, interact with consumers and innovate This cuttingedge technology provides capabilities for streamlining workflows, personalizing consumer encounters, and leveraging data-driven insights all while remaining cost-effective Adopting generative AI can give SMEs a significant competitive advantage, enabling long-term growth and adaptation This article investigates how SMEs use generative AI to transform operations and overcome adoption hurdles

Revolutionizing Efficiency with Automation

The capacity of generative AI to automate repetitive operations has emerged as a significant competitive advantage for SMEs Businesses that streamline operations can shift their focus to strategic and creative endeavours According to recent studies, generative AI can currently automate more than 50% of typical operations, significantly lowering manual labour and improving accuracy

AI-powered solutions, for example, use chatbots to handle customer interactions, data entry, and scheduling. These efficiencies reduce human error and allow workers to focus on activities that provide value Thanks to platforms like ChatGPT and reasonably priced AI-driven software solutions, automation is now possible even for companies with tight resources Moreover, the percentage of small businesses that reported adopting generative AI technologies, such as ChatGPT, Zendesk, and Hubspot, increased by 17% in the 2024 report from 23% in 2023

Due to its affordability and ease of use, SMEs can take advantage of generative AI's potential without having to make significant financial investments This democratization of technology enables small enterprises to compete on a bigger scale, maximizing resources and driving growth in increasingly complex marketplaces

Transforming Customer Engagement

Generative AI has completely transformed customer experiences, enabling individualized, 24/7 interaction SMEs frequently use AI chatbots to offer prompt assistance, effectively handle problems, and create enduring client relationships In fact, per a recent Forbes Advisor survey in 2023, 64% of businesses believe AI would improve their operations, highlighting the growing relevance of the technology

These chatbots use consumer data analysis to provide personalized suggestions based on preferences and past purchases For instance, generative AI can be used by an online retailer to make product recommendations relevant to the customer's needs, improving the shopping experience and increasing conversion rates Furthermore, AI-powered solutions make it easier to create personalized marketing content, such as social media posts and tailored emails, guaranteeing regular consumer engagement.

Businesses can save time and money by automating repetitive marketing operations, freeing up teams to concentrate on strategy and innovation Providing individualized experiences increases client happiness and cultivates loyalty, promoting repeat business and sustained expansion

Data as a Strategic Asset

With the help of generative AI, SMEs can use data to make well-informed decisions Sophisticated algorithms can process large datasets to reveal patterns and insights that might be overlooked The growth of AI has enormous potential for SMEs; according to one study, implementing AI can increase revenue by 6% to 10% By 2030, it is anticipated that the global AI market will have grown from $208 billion in 2023 to about $2 trillion

Businesses, for example, can employ AI to monitor sales success and consumer feedback, allowing for more flexible strategy revisions Predictive skills enable SMEs to anticipate industry trends and consumer requests and remain competitive and proactive This data-driven approach improves resource allocation and overall efficiency

By embracing AI-driven analytics, SMEs can move beyond perception and make decisions based on actionable insights. This strategic use of data ensures that firms remain adaptive, innovative, and sensitive to changing market conditions, stabilizing their growth trajectory

Accelerating Innovation Cycles

Generative AI accelerates innovation by enabling quick prototyping and imaginative investigation SMEs can leverage AI-powered design tools to create innovative products while considering material and financial limits

With the help of these tools, companies can try out multiple variations of a product or service and improve them before releasing them onto the market This iterative method guarantees that offerings meet client expectations while lowering the risks connected with new endeavours SMEs may keep a competitive edge and speed up their innovation cycles by integrating generative AI into their development and brainstorming processes

Furthermore, SMEs are positioned as dynamic participants in their industries due to their capacity to adapt and enhance services quickly Businesses can maintain their resilience in the face of shifting consumer tastes and market conditions by adopting generative AI, which promotes a culture of continual improvement

Navigating Challenges to Adoption

Despite its potential, generative AI adoption presents difficulties for SMEs A lack of technical competence frequently hampers implementation, as do data privacy concerns Additionally, adding AI can seem overwhelming due to resource limitations

SMEs should embrace AI-as-a-Service (AIaaS) platforms that demand little initial investment and look into forming alliances with technology suppliers to overcome these obstacles Employee training programs can also help employees integrate into current workflows more efficiently By overcoming these obstacles, SMEs can fully realize the revolutionary potential of generative AI, guaranteeing successful deployment and longterm expansion

Generative AI has redefined small business operations, providing tools to improve customer relations, expedite procedures, and stimulate creativity In an increasingly competitive environment, SMEs can achieve sustainable growth by utilizing data-driven insights and resolving adoption issues Companies with limited resources can discover new possibilities for productivity and innovation with readily available and reasonably priced AI solutions Generative AI promises to continue to be a key component of SME success as it develops further, enabling businesses to adjust and prosper in a changing environment

In an exclusive interview with CanadianSME Small Business Magazine, Julie Bednarski, Founder and CEO of Healthy Crunch, shares how she turned her passion for food and wellness into a thriving global brand. Combining her expertise as a Registered Dietitian and trained chef, Julie has created delicious, better-for-you snacks that are allergen-free and nutrient-dense

Through her participation in the EY Entrepreneurial Winning Women program, Julie continues to drive innovation and inspire other women entrepreneurs Her story is one of resilience, growth, and dedication to making healthy eating accessible and enjoyable for all

Julie Bednarski is a dynamic and energetic entrepreneur with almost ten years of experience in the food and nutrition industry She has always had a passion for food and wellness and believes that health and happiness all start in the kitchen. Julie’s education includes Bachelor of Applied Science in Applied Human Nutrition at the University of Guelph and a Master of Health Science in Nutrition Communication at Ryerson University. Julie went on to complete her dietetic internship to become a Registered Dietitian with the College of Dietitians in Ontario.

Scaling Success with Healthy Crunch and the EY Entrepreneurial Winning Women™ program

Julie Bednarski Founder and CEO of Healthy Crunch

In 2012, Julie followed her passion for culinary arts, as she attended the Chef’s Training Program culinary in New York City at the Natural Gourmet Institute Following her culinary training, Julie went on to work at various restaurants throughout North America to refine and further develop her culinary skills

In July 2014, Julie started Healthy Crunch – as a way to satisfy her craving for super crunchy kale chips that were BIG in size and BIG in flavor She started recipe development in her home kitchen and within 1 year, Julie had expanded to own her own commercial snack food manufacturing facility. Healthy Crunch’s mission is innovate everyday foods making them better for you, while still being super delicious. With Julie’s ambition for success Healthy Crunch grew to have over 25,000 points of distribution within Canada within the first 2 years in business. Healthy Crunch now distributes their products throughout the world including Canada, USA, Europe, and the Middle East Since the start of her business, Julie continues to expand Healthy Crunch’s product lines to include coconut chips, trail mix, granola bars, rice crispy squares, chia jam, seed butter, instant lattes, kale chips, and dark chocolate fruit bites Julie is proud to be a woman entrepreneur and a certified Women-Owned Business

Can you share the story behind Healthy Crunch and how you’ve grown it into a leading brand for better-for-you, delicious food products?

I started Healthy Crunch in 2014 with the mission to innovate everyday foods making them better for you, while still being super delicious As a Registered Dietitian and Trained Chef, I used my expertise to create foods that are lower in sugar, allergen-free, more nutrient dense while still ensuring that they taste great Our first product line was Kale Chips as kale was very popular in 2014 Since then, we have launched over 12 different product lines including Granola Bars, Crispy Squares, Baking Chips, Dark Chocolate Superfoods, Chia Jam, Seed Butters, Instant Lattes, Fruit & Seed Mixes and many more delicious products that are all better for you, while tasting delicious

What inspired you to join the EY Entrepreneurial Winning Women program, and how has it impacted your journey as an entrepreneur?

Joining the EY Entrepreneurial Winning Women program was an incredible opportunity to connect with likeminded women entrepreneurs and gain the tools needed to take Healthy Crunch to the next level. As a Womenowned business, I was inspired by the program ’ s mission to break barriers and empower women to achieve their dreams in business The mentorship, resources, and network provided by EY have been invaluable in helping me scale my business, refine my strategy, and stay focused on innovation This experience has fueled my passion for creating better-for-you foods and has reinforced my commitment to inspiring others to pursue their entrepreneurial goals

What are your thoughts on the temporary GST/HST tax relief, and how do you see it influencing Healthy Crunch and the broader small business community in Canada?

As the Founder of Healthy Crunch, I see the temporary GST/HST tax relief as a positive step toward supporting both small businesses and consumers across Canada While small businesses were given only a short period of time to adjust to the new regulations, we remain optimistic that this initiative will help boost sales and encourage more Canadians to shop locally

What challenges has Healthy Crunch faced while preparing for these changes, and how has the support network provided by the EY Entrepreneurial Winning Women program helped you address them?

Preparing for recent tax changes presented challenges for Healthy Crunch, including the need to quickly adapt processes and ensure compliance within tight timelines The EY Entrepreneurial Winning Women program has been an invaluable resource during this transition. Through webinars, expert insights, and a supportive network, EY provided the guidance and tools we needed to navigate these changes effectively. Their resources allowed us to address questions, stay informed, and remain focused on growth while continuing to deliver high-quality, better-for-you products to our customers

What advice would you give to other small business owners navigating similar challenges and opportunities in Canada today?

To succeed in Canada, small business owners should prioritize strong financial management by creating detailed budgets, monitoring cash flow, reducing unnecessary expenses, and taking advantage of grants, loans, and tax incentives Embracing digital tools and e-commerce can streamline operations and expand market reach, while fostering innovation and forming strategic partnerships can drive growth Providing excellent customer service, supporting employee well-being, and adopting sustainable practices will further strengthen competitiveness and build long-term success

ScalingSuccess:

WhyARAutomationWithIntegratedSalesTax ComplianceIsCrucialForGrowingBusinesses

Benefits Of Automation

By Rahim Harji, Chief Executive Officer at Datasoft Group

Sales tax compliance is an important component of any accounts receivable (AR) automation strategy for businesses of all sizes American and international companies selling in the U S are required to meet sales tax obligations, but with over 13,000 tax jurisdictions and rules in the country, manual operations aren’t sustainable. That’s why companies need to carefully consider automating AR and customer payments, with a focus on embedding sales tax compliance into these processes

As startups grow, they embark on a journey to modernize and enhance their customer payment experiences while also controlling merchant fees and headcount In this process, automating sales tax from calculations and filing to payments is essential

Sales tax compliance integration in AR automation comes with many benefits for businesses, particularly as they scale First, it minimizes the possibility of human mistakes that can lead to expensive penalties and audits Automatic systems ensure correct tax calculations based on prevailing regulations, eliminating the manual work to keep pace with ever-changing rates in the process

Automation also results in increased efficiency by simplifying the invoicing process, enabling firms to deal with a higher number of transactions without having to hire more employees This is especially important in expanding companies Automated compliance offers real-time visibility of tax liabilities, which enhances cash flow management and strategic financial planning In summary, it makes maintaining compliance easy for any business freeing up resources for core operations and growth elsewhere

There are several difficulties involved in managing sales tax across multiple jurisdictions in the U S , thanks to the different rules, taxes and filing requirements that apply over thousands of tax regions Frequent changes in tax laws mean that companies have to stay updated, which can be time-consuming and prone to error when done by hand

Automation also helps address the issue of varying compliance requirements by providing up-to-date taxation rates and automatically applying locationspecific rates at the point of sale Automation makes compliance simpler by preparing accurate documentation, which helps businesses comply with legal provisions if they are audited or inspected Finally, automated systems can also handle complex issues such as tax holidays, exemptions and different product taxability across various jurisdictions to help businesses remain compliant everywhere they operate.

International Businesses Key Challenges Staying Up-To-Date

International businesses who want to enter the U S market should keep several critical issues in mind regarding sales tax compliance in their AR processes It’s important to understand the concept of nexus, which determines the obligation to collect sales tax in specific states based on physical location or economic activity Businesses need to identify where they have nexus and make sure to comply with the tax regulations of the respective states

Since rates and rules can vary so much across jurisdictions, it’s also critical for international businesses to ensure their tax calculations are accurate. Using an automated system that integrates with their AR processes can help streamline this task Businesses need to keep meticulous records and prepare for regular tax filings since compliance rules require detailed documentation of all taxable transactions They should also have systems in place to quickly respond to any audit inquiries Automation can help manage these complex processes by providing realtime tax rate updates, generating reports and maintaining comprehensive records

To ensure their automated systems remain compliant with ever-changing tax regulations, businesses should consider partnering with a reputable tax technology provider offering solutions that are both robust and regularly updated These providers typically have dedicated teams to monitor legislative changes and update their systems accordingly

Companies should look for solutions that offer real-time updates and integrate seamlessly with their existing AR processes. Systems with cloud-based capabilities make automatic updates simple and easy and reduce the need for human intervention. Regular audits and reviews of an automated system’s performance can help identify any compliance gaps or discrepancies.

In the end, American and international businesses can ensure they remain compliant with the ever-evolving tax regulations across all jurisdictions by leveraging the expertise of tax technology providers and utilizing advanced automated solutions

The information provided here is not investment, tax, or financial advice You should consult with a licensed professional for advice concerning your specific situation

2025 Canadian SMBOutlook:

Economic Resilience Amid Uncertainty

Despite recent volatility, Canadian small and medium-sized businesses have demonstrated extraordinary resiliency A considerable 49% of these organizations want to boost their marketing investments by 2025, indicating optimism and a growth mindset This impetus is especially strong among purpose-driven businesses, which are attracting investor interest by stressing obvious social and environmental impacts

With the Canadian economy stabilizing, entrepreneurs are capitalizing on a favourable environment to pursue expansion prospects Financial innovation and supportive policies improve the ecosystem, laying the stage for longterm prosperity The development of impactdriven businesses demonstrates a fundamental shift toward aligning profitability with societal benefit.

Pioneering the Digital Frontier

Digital transformation will be at the center of Canadian SMB strategy in 2025 The marketing landscape is evolving, with 51% of organizations expecting to expand their social media and content marketing efforts This shift emphasizes the growing importance of digital platforms for lead generation and customer engagement SMBs are adapting their tactics to shifting consumer patterns, highlighting the need for personalization and data-driven decision-making

As e-commerce grows, technology integration becomes increasingly important Projections show a substantial increase in online sales, prompting SMBs to invest in AI technologies and scalable digital infrastructures. Artificial intelligence, in particular, transforms operations by automating procedures, increasing productivity, and boosting customer experiences

This digital transformation is not restricted to marketing; it also affects supply chain management, customer support, and operations workflows By embracing emerging technology, Canadian small and medium-sized businesses are preparing to compete in an increasingly digital environment

Sustainability Takes Center Stage

Sustainability has evolved from a niche concern to a business requirement for Canadian small and medium-sized businesses By 2025, around 72% of suppliers will be required to publish Environmental, Social, and Governance (ESG) criteria, demonstrating the growing importance of transparency and environmental responsibility This tendency is driven by increased consumer awareness and regulatory demands

Renewable energy usage is also increasing, with SMBs incorporating decentralized energy solutions like solar, wind, and hydropower into their operations These approaches not only accord with Canada's long-term sustainability objectives but also provide significant cost savings Small enterprises demonstrate that environmental stewardship can coexist with economic efficiency.

Moreover, sectors supplying sustainable and ecofriendly products are experiencing a 30% increase in consumer purchasing, demonstrating the viability of green business strategies The emphasis on sustainability fosters innovation, encouraging entrepreneurs to innovate products and services that suit changing market demands

Unlocking Market Opportunities

The year 2025 promises significant development opportunities for Canadian SMBs in high-potential areas Consumer demand for sustainable and environmentally friendly products has risen by 30% Similarly, health and wellness services have grown by 20% since the epidemic, driven by a shift toward holistic living The technology sector remains a standout, with fields like artificial intelligence and cybersecurity expected to rise by 25%

Financial innovation is transforming funding ecosystems Sustainable investments are gaining traction, with B Corp certification and impact indicators increasingly required to attract finance This shift reflects a more significant trend of connecting financial practices with ethical and environmental objectives

Empowering the

Workforce

Workforce dynamics are shifting as Canadian small and medium-sized businesses promote employee well-being Mental health and wellness initiatives are gaining popularity as people recognize their importance in creating a productive and engaged workforce Enterprises are increasingly realizing that having a happy, healthy team is critical for long-term success.

Flexible work arrangements, professional development opportunities, and welcoming company cultures are becoming commonplace These initiatives not only increase employee satisfaction but also help retain talent in a competitive labour market

Embracing the

Future

As Canadian SMBs negotiate the complexity of 2025, adaptability will be their most valuable advantage Success is found in seamlessly integrating sustainable practices, using digital innovation, and pursuing strategic growth projects By embracing these modifications, businesses can capitalize on rising trends while retaining operational efficiency.

The future holds enormous promise for SMBs prepared to innovate and develop There are numerous chances, such as embracing cuttingedge technologies, adapting to changing consumer preferences and leading the way in sustainability Canadian SMBs that embrace this wave of transition will not only survive but prosper in a period of constant change and advancement

Business Woman of the Month

Withhercreativevisionandcommitment toprovidingexceptionalhospitality,Janet Zuccarini,thefounderandCEOofGusto54 RestaurantGroup,hasrevolutionizedthe culinaryindustry.Janet'sremarkable ascentfromasingleTorontorestaurantto aglobalrestaurantempire,forwhichshe wasnamedtheBusinessWomanofthe Monthfor2025,demonstrateshertenacity, entrepreneurialspirit,andsteadfast dedicationtoexcellence.

A Legacy of Innovation

Janet inherited her entrepreneurial spirit from her father, Giacomo Zuccarini, who introduced Toronto's first wood-burning pizza oven and espresso machine in 1954. This innovative legacy served as the cornerstone of Janet's professional life. She entered the restaurant industry with Trattoria Nervosa, a Yorkville mainstay that has prospered for more than 27 years The success of this endeavour served as the impetus for Gusto 54, a pioneering restaurant chain known for its inventive culinary creations

From the beginning, Janet used innovation as her compass and worked tirelessly to improve the eating experience She has distinguished herself as a leader in the restaurant sector by anticipating trends and adjusting her vision to patrons' changing tastes

Building an Empire Resilience and Adaptation

The transformation of Gusto 54 Restaurant Group from a single establishment to a varied collection of renowned eateries is evidence of Janet's strategic vision She grew her company while remaining independent through wise real estate investments and well-selected alliances Gusto 54 achieved sustainable expansion thanks to its methodical strategy, and notable locations like Felix Trattoria in Los Angeles received praise worldwide Felix received recognition as the "#1 Best New Restaurant in America" by Esquire and was a finalist for the James Beard "Best New Restaurant 2018" award.

Janet's business strategy focuses on developing solid foundations, reinvesting profits, and thoroughly understanding all aspects of her operations This hands-on management style guarantees that all decisions are educated and aligned with her long-term objectives Her leadership has guided Gusto 54 to incredible success while keeping a strong brand identity despite the challenges of scaling across North America

The COVID-19 outbreak put the restaurant industry's resilience to the test, but Janet met it head-on with inventiveness and tenacity Gusto 54 quickly evolved under her guidance, developing new projects like Azhar Kitchen and Bar and extending the Pai Northern Thai Kitchen brand These inventive pivots, combined with the implementation of the ghost kitchen model, allowed Gusto 54 to continue providing outstanding dining experiences via takeout and delivery while fulfilling the needs of a changing market.

Janet's entrepreneurial resilience is demonstrated by her ability to handle problems She continues to guide Gusto 54 through difficult times while establishing new industry standards since she firmly believes that grit and perseverance are necessary for success

A Culture of Excellence and Giving Back

The key to Janet's success is her people-first leadership style, embodied in Gusto 54s motto: "Happy people make people happy " This idea allows her team to flourish in a supportive environment, cultivating a culture of excellence and internal growth Gusto 54 certifications from Ocean Wise and LEAF are another testament to Janet's commitment to sustainability and ethical business practices.

Janet'saccomplishmentshavereceived muchpraise.TheTECCanadaAwardfor ExcellenceinEntrepreneurship, BusinesswomanoftheYearfromthe ItalianChamberofCommerce,and Canada's100BestAmericanExpress BusinessLeadershipAwardarejustafew ofthedistinguishedhonoursshehas earned.Theseaccoladeshighlighther influenceinthefieldasaleaderanda catalystforchange.

Looking to the Future

As Janet Zuccarini looks ahead, she is committed to innovation and excellence Gusto 54's expansion goals include additional restaurant concepts and locations, strengthening its position as a global culinary leader Janet's ambition goes beyond producing excellent dining experiences; she's building a brand that embraces the joy of food and community

Her path from a single Toronto restaurant to a renowned culinary empire is a moving story of determination, inventiveness, and passion Janet Zuccarini's continuing influence on the restaurant sector acts as an encouragement to budding entrepreneurs, cementing her status as the Business Woman of the Month for 2025

Your role in staying updated is integral to our shared mission of fostering a community of innovators. CanadianSME Magazine is a valuable treasure trove of entrepreneurial knowledge Click here to subscribe to our monthly editions for updates on Canadian businesses Follow our handle @canadian sme on X to remain updated on all business trends and developments Your support is crucial to our mission

BreakingBarriers:

CanadianWomenEntrepreneurs ReshapingIndustriesin2025

ChangingtheLandscapeofWomen’sEntrepreneurship

BySKUddin,CanadianSME

There’s a steady rise in the number of women entrepreneurs within the Canadian business scene This is substantiated by the recently launched Canada's 2024 State of Women's Entrepreneurship (SOWE) report In fact, women make up a more significant percentage of Indigenous business owners (23 2%) than nonIndigenous women company owners (19 5%) However, the Women Entrepreneurship Knowledge Hub reports that only 4% of venture capital funding in Canada goes to female founders Despite the obstacles, a group of fabulous Canadian women is transforming the corporate environment, breaking down boundaries and reshaping industries through their inventiveness, tenacity, and innovation From tech disruptors to social changemakers, here are ten female entrepreneurs making headlines in 2025

Shahrzad Rafati, the creator and CEO of BBTV, has created a media empire that generates 28 7 billion monthly impressions worldwide Born in Iran and later moved to Canada, Shahrzad was fascinated by media and technology from an early age She has overcome industry preconceptions to carve a niche in digital video monetization

BBTV's creative solutions enable producers worldwide to increase their viewership and earnings The company is a global leader in its field because its platform uses unique technologies to maximize video distribution and interaction

Awarded the 2018 Ernst & Young Pacific Entrepreneur of the Year award and named one of Business in Vancouver's Most Influential Women, Shahrzad never stops motivating others with her forward-thinking goal of changing the media environment.

Joanna Griffiths, the founder of Knix, has transformed the intimate apparel business by emphasizing comfort and diversity Joanna launched leakproof and functional intimates for modern women, drawing on her INSEAD business education and a desire to bridge market gaps Knix distinguishes itself by focusing on innovation and client interaction Joanna was named EY Entrepreneur of the Year for Canada in 2023, and she set a new record for the most significant private sale of a woman-founded Canadian company.

Her relentless journey demonstrates that women-led companies can succeed in highly competitive marketplaces Her dedication to supporting women is shown by her best-selling book, Life After Birth

NouraSakkijha:Redefining JewelrywithMejuri

ShelbyTaylor:Elevating NutritionwithChickapea CEOofMejuri

Noura Sakkijha, CEO of Mejuri, has transformed how women perceive beautiful jewelry Noura was raised in a jewelry-making household and aspired to make luxury accessible and wearable on a daily basis Mejuri's direct-to-consumer model eliminates customary markups and has shaken up the jewelry market The brand's elegant, straightforward designs have garnered global attention, including mentions from Forbes and CNN Money.

Noura is redefining the industry by emphasizing sustainability and customer-centric designs It has received honours such as the Ontario Center of Excellence, and was named a winner of the Slaight Business Plan Competition

CarinneChambers-Saini: ChampioningSustainability withDivaInternational

Co-FounderofDiva International

Carinne Chambers-Saini, co-founder of Diva International, revolutionized menstrual care with the DivaCup Motivated by a desire to give sustainable solutions, Carinne confronted society's taboos and created an eco-friendly product range that lowers waste and promotes health DivaCup's invention has earned them awards, such as the EY Entrepreneur of the Year for Sustainable Products and a spot on Canada's Top 40 Under 40 The brand's position on the PROFIT 500 list demonstrates its importance in the expanding market for sustainable products

Founder&CEOatChickapea

Shelby Taylor established Chickapea to make healthy eating more accessible What started as a tiny enterprise in Ontario swiftly expanded into a global brand focusing on organic, protein-rich pasta

Chickapea's revolutionary approach, which blends health, sustainability, and taste, has propelled the company into the top 10% of all Certified B Corporations Expansion into the United States in its first year and distinction on Canada's Top Growing Companies list demonstrates the brand's success Shelby's aim goes beyond profitability, promoting sustainable farming practices and solving global health issues through food innovation

AmberGunderson:LeadingGreen InnovationatChamClad

VicePresidentandGeneralManager ofManufacturingatChamClad

Amber Gunderson, the creator of ChamClad, is a pioneer in environmentally friendly building solutions Her path, which began with a strong desire to be environmentally conscious, resulted in the development of LEED-compliant goods that revolutionized outdoor design

Carinne's devotion to breaking down stigmas and her emphasis on environmental sustainability distinguish her as a social entrepreneurial leader

ChamClad's influence on the market is demonstrated by its win of Best Outdoor Product at the 2024 International Building Show Because of her dedication to sustainability, Amber is poised to become a leader in green innovation and a finalist for the 2024 RBC Canadian Women Entrepreneur

Awards She is a trailblazer in the field since her ideas for ecologically friendly buildings meet the expectations of sustainable practices around the world

ManjitMinhas:Brewing SuccessatMinhasBreweries

Co-FounderofMinhasBreweries

StachenFrederick:Empowering CommunitieswithWeston FrontlinesCentre

Manjit Minhas, the co-founder of Minhas Breweries, exemplifies entrepreneurial drive and vision Manjit began her career in a male-dominated business and has now grown to a $225 million corporation with operations in 45 states and 16 countries

Her brewery's emphasis on price and quality resonates worldwide, making it a household name As a long-time Dragon on CBC's Dragons' Den, Manjit mentors prospective entrepreneurs and shares her own path of overcoming obstacles

Manjit has been named one of Canada's Top 40 Under 40, and his tale is one of resilience, creativity, and industry disruption.

ArleneDickinson:DrivingImpact withDistrictVenturesCapital

CEOofBigBrothersBig SistersToronto FounderandDirectorofToronto MetropolitanUniversity's CybersecurityResearchLab ManagingGeneralPartner atDistrictVenturesCapital

When it comes to encouraging Canadian business, Arlene Dickinson, Managing General Partner at District Ventures Capital, is a household name. Her venture capital firm gives preference to consumer products businesses, particularly those run by women Arlene's accomplishments include being inducted into the Marketing Hall of Fame and being named one of Canada's Most Powerful Women in the Top 100 Her advocacy for small firms and devotion to mentoring have revolutionized Canada's entrepreneurial ecosystem

Her forward-thinking vision continues to enable firms to grow while fostering innovation in the consumer products industry

Stachen Frederick, the charismatic head of Weston Frontlines Centre, affects people's lives through youth-oriented activities Her work as CEO of Big Brothers Big Sisters Toronto and her leadership at a $5-million youth organization demonstrates her commitment to community development

Frederick's initiatives, which have earned her the 2024 RBC Canadian Women Entrepreneur Social Change Award, focus on education, mental health, and skill training Her inclusion in the Top 100 Powerful Women of Canada recognizes her contributions to social fairness Stachen's unwavering commitment to creating inclusive opportunities distinguishes her as a change agent in Canada's social sector

Dr.AtefehMashatan:AVisionary LeaderinCybersecurity

Dr Atefeh (Atty) Mashatan, PhD, CISSP, is a cybersecurity pioneer and a female entrepreneur to watch in 2025 She is the founder and director of Toronto Metropolitan University's Cybersecurity Research Lab, where she conducts cutting-edge research in IoT security, blockchain, and cryptography Dr Mashatan, a Canada Research Chair in IoT security, creates effective frameworks for dealing with growing digital risks She has been recognized as one of Canada's Most Powerful Women and SC Magazine's Women of Influence for her pioneering products, such as the Mosaïque Digital Wallet. Her commitment to promoting technology and empowering women in STEM strengthens her position as a visionary leader

ESG Integration: StrengtheningBrand LoyaltyandInvestor

Confidence

BySKUddin,CanadianSME

In today's competitive corporate climate, incorporating Environmental, Social, and Governance (ESG) concepts has shifted from a fad to a must ESG integration not only solves critical global issues but also increases brand loyalty and investor appeal As environmental consciousness rises, consumers and investors seek companies that share their values and demonstrate a commitment to ethical practices Businesses prioritizing ESG are better positioned to form meaningful connections with stakeholders, ensuring long-term growth and resilience This article explores the expanding significance of ESG and how it promotes brand loyalty and draws in socially concerned investors

EY's crucial 2020 survey indicated that 98% of institutional investors evaluate ESG performance when making choices, highlighting the strategic importance of incorporating these principles The financial sector, in particular, has embraced ESG issues, recognizing their importance in risk management and long-term profitability This widespread acceptance demonstrates that ESG is no longer a niche issue but a critical component of competitive advantage and longterm corporate growth

The Growing Momentum of ESG Practices

ESG principles have quickly become a cornerstone of modern company strategies, reflecting the interests of a more discerning consumer and investor base. According to research, 81% of consumers expect corporations to contribute to environmental betterment actively This societal transformation has resulted in a spike in ESG-focused investments, with investors evaluating companies based on environmental stewardship, social responsibility, governance standards, and financial success

Building Deeper Brand Loyalty Through ESG

Incorporating ESG principles into corporate operations can boost brand loyalty and provide a competitive advantage in todays valuesdriven market. Companies that make firm ESG commitments frequently attract and maintain loyal customers, earning benefits such as improved customer lifetime value, lower marketing costs, and more substantial brand credibility

Studies reveal the actual benefits of ESG-driven branding Companies that generate over half of their revenue from ESG-related offerings have significantly higher repeat purchase rates (3234%) than their less ESG-focused rivals This highlights the enormous benefit of integrating products and services with sustainability principles

To promote brand loyalty through ESG, organizations should prioritize openness, connect their offers with sustainable principles, engage customers in eco-friendly initiatives, and demonstrate demonstrable impact. Companies that make ESG a fundamental part of their identity can build actual ties with customers who value ethical and sustainable operations This approach builds customer trust and positions organizations as pioneers in responsible innovation

Capturing Investor Interest Through ESG Excellence

ESG performance is increasingly important for investors in determining a company ' s future Strong ESG standards indicate lower risks, consistent financial returns, and commitment to long-term value development Companies that thrive in ESG typically have better access to money, cheaper financing costs, and stronger investor connections

Research highlights the financial benefits of ESG integration. According to a McKinsey study, products with ESG claims had 28% cumulative growth over five years, compared to 20% for nonESG offers This achievement demonstrates the practical advantages of integrating corporate goals with ESG principles

To attract ESG-focused investors, companies should develop a clear and measurable ESG strategy, increase transparency through extensive reporting, work with ESG rating agencies, and participate in forums that promote their sustainability commitments Companies can then attract socially responsible investors who value effect over profit, enhancing their market position and long-term outlook

Actionable Steps for ESG Success

Effective implementation of ESG principles necessitates a planned and complete strategy. Companies might begin by identifying substantial ESG issues relevant to their industry and establishing specific, actionable objectives Including ESG concerns in key operations assures alignment with long-term goals, and cultivating a corporate culture that encourages and rewards ESG behaviours fosters internal support

Innovation is essential; companies may stand out in competitive markets by creating goods and services that represent ESG priorities. Involving partners and stakeholders in ESG projects also guarantees shared success and a joint impact. Leaders in the sector, such as Tesla and Patagonia, have shown the value of integrating ESG principles by succeeding financially and making beneficial contributions to society.

In an increasingly ESG-focused world, companies can boost their resilience and establish themselves as sustainability advocates by implementing these measures

ESG Changing the Marketing Scene for Good

For companies looking to succeed in the contemporary marketplace, including ESG principles is now a strategic necessity rather than an option. Businesses can achieve strong financial performance and stakeholder value creation while fostering enduring brand loyalty, drawing in impact-driven investors, and promoting a sustainable future by integrating sustainability into their fundamental strategies

Smarter Inventory Control with AI

Artificial intelligence has emerged as a game changer in retail inventory management, providing remarkable accuracy and efficiency By 2025, AI-powered technologies will drive supply chain optimization, assisting firms in balancing supply and demand with little waste. What’s more, according to an Economist Intelligence analysis, decreasing inflation in 2025 would enable global retail sales volumes to expand by 2 2%, the fastest rate since 2021

Accurate demand forecasting is made possible by AI-powered solutions that examine industry trends, sales data, and outside variables like seasonal weather patterns By ensuring that shops maintain ideal stock levels, this predictive capability helps to minimize shortages and surpluses Additionally, automatic reordering systems save operating expenses and time by streamlining the refilling process

ShapingtheFutureofShoppingin2025

BySKUddin,CanadianSME

As 2025 approaches, the retail industry is primed for transformative transformations fueled by advancements such as artificial intelligence (AI), augmented reality (AR), and advanced analytics These technologies are revolutionizing the shopping experience by combining ease, personalization, and efficiency Aside from improving client interaction, they streamline operations and alter old company structures. Combining these technologies, from improved inventory management to immersive virtual experiences, is changing how organizations connect with customers This feature digs into the cutting-edge advancements expected to dominate retail in 2025, emphasizing AI-driven inventory solutions, the expanding influence of augmented reality, and hyper-personalized shopping experiences

Another notable application of AI in inventory management is dynamic pricing Artificial intelligence (AI) systems can make real-time price adjustments to optimize profitability while maintaining competitiveness by continuously evaluating inventory levels, market competition, and customer demand

According to research, more than 80% of retailers are using AI to streamline inventory procedures, which is expected to grow as technology develops Retailers who use AI will benefit from lower carrying costs, more accurate forecasts, and increased flexibility in a constantly changing market Businesses using AI technologies will be the industry standard for operational efficiency in the retail sector by 2025

Immersive Shopping with Augmented Reality

The retail industry is undergoing a change thanks to augmented reality (AR), which produces immersive and interactive shopping experiences By 2025, augmented reality will seamlessly merge online and in-store shopping, providing consumers with a never-before-seen degree of ease and engagement

AR's transformational uses include virtual try-ons for fashion, cosmetics, and eyewear, which allow customers to see how things fit or appear before purchasing AR apps for home furnishings enable real-world furniture renderings, increasing client confidence and happiness According to research, augmented reality shopping can raise conversion rates by up to 250%, highlighting its impact on purchase behaviour.

Physical stores are also benefiting from AR developments Smart mirrors in fitting rooms now recommend complementary products or sizes, while AR-enabled mobile apps overlay product details, reviews, and personalized recommendations while shopping in-store This combination of technologies improves consumer interactions and builds loyalty

Three-quarters of the worlds population will frequently shop using augmented reality by 2025 As this technology develops, it will provide gamified experiences that are more captivating and will blur the lines between online and physical retail settings AR is more than just a tool for shops; it fosters closer ties with customers and raises client satisfaction

Personalized Shopping at Scale

AI-powered hyper-personalization is revolutionizing retail customer interaction Retailers will use AI algorithms by 2025 to create personalized, data-driven shopping experiences based on customer preferences AI will generate personalized offers and recommendations by analyzing large datasets, such as browser history, purchase trends, and demographic data Dynamic email campaigns, flexible app interfaces, and tailored pricing plans that speak to each customer individually will be examples of how this will appear

According to studies, 71% of consumers demand individualized interactions, demonstrating the importance of this strategy Customization dramatically increases conversion rates and cultivates brand loyalty, so it's not just about consumer satisfaction Retailers can establish stronger relationships with their audience and ensure every engagement is engaging and relevant by integrating AI-powered personalization across digital and physical touchpoints Businesses that use AI to improve the shopping experience will have a competitive advantage as 2025 approaches, turning one-size-fits-all retail into a customized experience

What the Near Future Looks Like

Technologies like artificial intelligence (AI) and augmented reality (AR) have the potential to completely change the retail sector as it rapidly approaches 2025 by providing game-changing solutions that improve operational efficiency and customer experiences These developments from AIpowered inventory optimization to AR-powered immersive shopping pave the way for a day when efficiency, engagement, and personalization coexist

Retailers who embrace these improvements will set new industry norms and thrive in an increasingly competitive economy The combination of digital and physical retail experiences promises not only to meet but exceed consumer expectations, resulting in a dynamic, technology-driven future for shopping

Beverlee Rasmussen on How Systems Thinking and Neuroscience Drive Small Business Growth

In an exclusive interview with CanadianSME

Small Business Magazine by Kripa Anand, Beverlee Rasmussen, MA, CEC, PCC, founder of Systems Business Coach Inc. and author of Small Business Big Opportunity, delves into her mission to support small business owners globally. Drawing from her inspiring journey as a single mom turned successful entrepreneur, Beverlee highlights the importance of systems thinking in overcoming common challenges such as financial mismanagement, scaling difficulties, and loss of freedom, while sharing practical strategies for empowering small businesses to thrive and achieve sustainable growth

Her innovative approach integrates neuroscience and appreciative inquiry, offering practical tools to help owners build sustainable, profitable businesses. Beverlee emphasizes the value of asking for help early, fostering resilience, and creating a balance between personal and professional growth. Her dedication to small business sustainability inspires owners to thrive, transforming local economies and communities along the way

Beverlee Rasmussen, MA, CEC, PCC, is the Founder of Systems Business Coach Inc , an international coaching and training company dedicated to empowering small business owners An ICF Professional Certified Coach with a Master of Arts in Executive and Organizational Coaching, Beverlee is a thought leader in small business sustainability and author of two books, including the Amazon #1 Best Seller Small Business Big Opportunity. She equips coaches, consultants, and organizations to effectively coach small business owners, driving positive economic impact worldwide.

Your journey began with a bold step as a single mom launching your first business. Can you share how that experience shaped your vision for Systems Business Coach Inc.?

Yes, I was a single mom with no business experience, and it was hard There were endless things to learn and master hiring, firing, leasehold improvements, taxes, payroll, marketing, communication all on top of being a great travel agent I could have easily ended up on the wrong side of the 50/50 failure rate But with no child support and my house remortgaged, I had no choice At first I worked 20-hour days, and through it all, I discovered the power of systems Within 18 months, I had the business running profitably independent of me a model essential for business sustainability

It shouldnt be this hard for small business owners

After selling my business, I took a contract position where, over four years, I met with more than 3,300 struggling small business owners Every single one of them said the same thing: they felt trapped They had lost their freedom the very reason they started their businesses in the first place

When I left that position, I made a promise to myself and to those business owners: I would use what I had learned, and keep learning, to tackle the problem of small business failure. It’s too big a price to pay for the owners, their families, their employees, and their communities That promise became the foundation for Systems Business Coach Inc

Why do you believe the small business failure rate has remained unchanged for over 30 years, and how does your approach address this persistent challenge?

The small business failure rate has remained unchanged for over 30 years because we either provide no support or the wrong kind of support Many helping professionals, like bank managers or economic development agencies, focus on their own objectives approving loans or ticking off a completed business plan without addressing the long-term sustainability of the business or the well-being of its owner

Most small business owners are passionate technicians great at their craft but lack the skills to manage and grow a business The hardest years, typically between years 3 and 8, are when owners face challenges like hiring, managing finances, scaling sustainably, and handling external pressures such as inflation or supply chain issues These aren’t failures of effort; they’re failures of support

My approach draws on systems thinking, helping owners see how all aspects of their business are interconnected. This allows them to build a business model that works on time, every time, exactly as promised. I also integrate appreciative inquiry, which focuses on building strengths rather than just solving problems Combined with the 52 core business competencies outlined in my 0, this approach provides practical, actionable steps Using a coach approach, I focus on having confidential conversations where owners feel supported and empowered, helping them build a sustainable and profitable business that they are proud of

How does neuroscience support the effectiveness of the 'coach approach' in fostering sustainable growth for small business owners?

Neuroscience shows that people learn and grow best when they feel safe, supported, and in control of their decisions this is the foundation of the 'coach approach Unlike traditional consulting, which often involves telling people what to do ("You should fire that guy"), coaching asks thoughtful questions that engage the brain in problem-solving and selfdiscovery ("What steps could you take to transition that employee out of your business?")

This method activates the prefrontal cortex, responsible for strategic thinking and decisionmaking, while calming the limbic system, which handles stress and emotions By reducing stress and promoting clarity, coaching creates a space where business owners can think more creatively and strategically

Positive coaching interactions also release dopamine and oxytocin, which boost motivation, trust, and learning Instead of feeling overwhelmed or judged, business owners feel empowered to take ownership of their decisions Over time, this builds confidence, resilience, and the ability to achieve sustainable growth The 'coach approach' isn’t just about solving immediate problems; it’s about rewiring how business owners think and approach challenges, helping them build stronger, more sustainable businesses

Can you share an example of how your systemsthinking approach has helped a business overcome a major challenge and achieve measurable success?

A great example of how my systems-thinking approach has driven measurable success involves a gift manufacturing company that had been operating for five years without ever making a profit Don’t believe the myth that it takes five years to make a profit! Despite holding a high-profile national contract with a major department store and selling more than a million in products, the business was struggling To keep it afloat, the shareholder loan had ballooned to half a million dollars

We started by implementing systems to address two critical areas: financial tracking and decision-making First, we ensured the bookkeeping was 100% up to date, eliminating the months-long delays caused by inconsistent reconciliation Then, we introduced a financial reporting system that gave the owner clear, timely insights into the company ’ s cash flow and profitability Using this data, we identified opportunities to cut costs by 42% and streamlined operations by closing an unnecessary administrative office out east

Within six weeks of working together, the owner saw her first profit proof that the right systems can turn even a struggling business into a sustainable one. By focusing on accurate data and efficient processes, we built the foundation for smarter decision-making and long-term success Systems like these ensure owners can control their outcomes instead of reacting to problems after the fact

If you could leave one piece of advice with small business owners striving to achieve both personal and professional growth, what would it be?

My one piece of advice for small business owners is this: ask for help sooner rather than later The moment you lose money and don’t understand why, reach out There’s no shame in not knowing, and seeking guidance early can save you from bigger challenges down the road Keep asking until you find someone who truly listens to you and treats you with the respect you deserve You don’t have to figure it all out alone help is there if you ’ re willing to ask for it

Dr.

Mary Hayes, Research Director, People and Performance, ADP Research

As 2025 approaches, Dr Hayes identifies a shift in employee expectations moving beyond traditional work-life balance to a more integrated, fulfilling workplace model. Her insights serve as a roadmap for small businesses navigating the evolving world of work, ensuring they remain competitive and create environments where employees thrive.

Dr. Mary Hayes is the Research Director for People and Performance at ADP Research. Dr. Hayes' research focus has been on engagement, turnover, knowledge worker performance and teams in the workplace Mary’s research helps businesses understand the relationships between engagement and performance, engagement and turnover, as well as other relevant issues in the world of work Mary earned a Ph D in Educational Leadership from the University of Nebraska-Lincoln Her Master's degree in Educational Psychology from the University of Nebraska-Lincoln was focused on Qualitative, Quantitative and Psychometrics Methodology with additional work in Survey Research Methodology Both of Dr Hayes' degrees focus on the psychology of people and how these people flourish through positive psychology.

Shaping 2025: ADP Canada's Insights on Engagement and Well-being

In an exclusive CanadianSME Small Business Magazine interview by Maheen Bari, Dr Mary Hayes, Research Director for People and Performance at ADP Research, shares her expertise on workplace engagement and wellbeing Drawing from years of global data collection and research, she provides actionable insights for fostering resilient, high-performing teams. Dr. Hayes emphasizes the power of trust in enhancing engagement, advising organizations to equip leaders with the right tools to build loyalty and team cohesion. She highlights how hybrid work arrangements, when paired with strong team dynamics, can boost employee satisfaction and workplace resilience.

ADP’s recent research reveals unique insights into Canadian employee engagement. Could you share the standout findings and how Canadian engagement levels compare with those in other countries?

ADP Research has been collecting international data on engagement since 2015. Every year, we survey people in 34 countries, gathering a robust sample of 1,000 working adults in each of them

In 2024, 19 percent of Canadian workers in our sample considered themselves as fully engaged, down from 22 percent in 2023

That put Canada eighth among the 34 countries we survey when it comes to the share of fully engaged workers

In 3 of the last 4 years, Canada has been at the middle of the distribution of countries, with 2023 being the anomaly

Your findings highlight the impact of teamwork and hybrid work arrangements on engagement. How can employers foster an environment that encourages team cohesion across both hybrid and in-person work settings?

My advice is talk to your employees Find out what they need and discuss these things as a team Make sure you ’ re not making rules for some people and not others

In our 2024 survey, about 53 percent of respondents from Canada said they worked fully on site; 21 percent worked remotely; and 26 percent split their time between on- and off-site work Canada’s share of remote workers in 2024 was almost double the global average

We’re entrenched in the digital age We can do more with our phones and computers than ever before Anyone under the age of 40 knows nothing about a world without computers and the internet It is a part of their lives Remote work might be here to stay as an expectation of the world of work

But work can be lonely when you work remotely. Being on a team helps

In our Canada sample, about 88 percent of respondents reported being on a team This belonging is good, but the real magic happens when you can say that your team is the best one you ’ ve ever been part of Having the support of teammates makes everything better: Engagement, workplace resilience, and thriving all improve when workers are happy with their teams

Managers can foster teamwork by helping teams support each other We spend so many of our waking hours with our second families at work When colleagues are supporting each other on the job, it can be great

Employers can look at their policies, but that’s just a start They can also allow managers freedom to decide how teams work best together

In building trust with employees, what are some of the most impactful steps employers can take, and how does this positively affect engagement and overall workplace wellbeing?

The number one mover of engagement is trust, both in teammates and immediate supervisors

One way organizations can build trust is by giving leaders the right tools. We use worker engagement as a proxy for team health

We know that people join organizations because they value the mission, values, collegial support, and long-term staying power of those organizations

But once they’ve joined, why do they stay? Loyalty can be nurtured by giving people clear expectations, a chance to grow, and an opportunity to do something they love and are good at, knowing that they’ll receive the recognition they deserve Workers join organizations, but they can quit managers When organizations can help managers become better leaders, they can improve the well-being of their workforce

Stress is an ongoing challenge for businesses and employees alike. In what ways does a highly engaged workforce help in mitigating workplace stress, and how can employers leverage this?

Workplace stress can take many forms; it’s different for everyone I had a colleague who loved fastpaced, fire-drill type work, she seemed to thrive on it Personally, I prefer to be more methodological I do what I can to avoid fire drills by anticipating what’s coming and being one step ahead. To measure these complex human reactions, ADP Research designed a tool that looked at positive stress, or eustress, and negative stress, or distress This tool enables us to see who is thriving at work and who is overloaded In our 2024 survey, remote workers in Canada who felt that their teammates had their back were 4 8 times less likely to say they feel overloaded at work They were 5 2 times more likely to be thriving on the job

As 2025 approaches, what key trends in employee engagement and well-being should small business owners be aware of to build a resilient and thriving workplace?

Employer competition for talent has changed significantly with the rise of remote work and other flexible workplace options This can present a challenge, especially for smaller businesses, when it comes to recruiting and retention Smaller employers might have difficulty staying competitive when it comes to wages, benefits, and other perks

In addition, the world of work itself is changing Employee engagement, motivation, passion, and even happiness have become part of the conversation about the workplace, which is something ADP recently detailed in its HR Trends 2025 report

The prevailing attitude suggests that work should be more than just a job; it should be fulfilling. Even the concept of work-life balance could be considered outdated When it comes to job and career, people are looking for a new DNA of the workplace, one in which work is integrated with their lives Businesses large or small can focus on intentionally supporting workers in this new age People who are denied the flexibility and freedom to thrive at work are less likely to stick around

In an exclusive interview with CanadianSME Small Business Magazine by SK Uddin, Rob Barton, CTO and Distinguished Architect at Cisco Canada, offers critical insights into the findings from Cisco’s 2024 AI Readiness Index As businesses globally intensify their AI investments, Barton sheds light on Canada’s unique challenges ranging from talent shortages to infrastructure gaps and the urgent need for decisive action to stay competitive. He explores how Canadian SMBs can build AI-ready foundations, leverage innovative solutions, and align AI initiatives with long-term strategic goals With AI shaping the future of industries, Barton’s perspective is a vital guide for businesses aiming to harness the transformative power of AI and drive sustainable growth.

Rob Barton, P Eng, is the CTO of Cisco Canada, and also holds the role of Distinguished Architect Rob Graduated from the University of British Columbia with a degree in Engineering Physics Rob is an accomplished author, with titles published on Quality of Service (QoS), Wireless Communications, and the Internet of Things Additionally, Rob has also co-authored many peer-reviewed academic papers and leads Cisco’s academic research partnership program Rob holds numerous patents in the areas of wireless communications, network security, cloud networking, IoT, and Machine Learning His current areas of work include all manner of wireless communications, IT/OT convergence, network automation, and AI/ML in networking systems.

What are the most notable findings from Cisco’s second annual 2024 AI Readiness Index, and what do they reveal about the state of AI adoption globally?

Our 2024 Cisco AI Readiness Index highlights that companies globally are increasing their AI investments, yet many still struggle to overcome challenges like talent shortages and siloed data With 98% of organizations worldwide feeling heightened urgency over the past year, substantial portions of their budgets are now being channeled into AI strategies and initiatives

Despite this growing urgency, progress is not keeping pace Our study found that only 13% of global organizations are fully prepared to deploy AI technologies, marking a slight decline from last year and revealing a growing gap between urgency and readiness.

Unlocking AI: Cisco’s Rob Barton on Canada’s Future Readiness

CTO of Cisco Canada

Our research indicates that while organizations recognize the strategic importance of AI, they struggle to move forward - especially in areas like scaling infrastructure and building the necessary talent pools If these challenges are not addressed, organizations risk failing to harness AI’s full potential

What unique challenges do Canadian businesses face in adopting AI, and how can they overcome these obstacles to remain competitive on the global stage?

Canadian businesses face significant challenges in adopting AI, particularly in addressing talent gaps and infrastructure limitations While organizations acknowledge the urgency of embracing AI, our significant skills shortage is hindering progress In fact, half of the Canadian businesses surveyed report there aren't enough workers with the right skills to support AI initiatives

Infrastructure gaps also pose a critical barrier, especially in terms of high-performance computing and network optimization, which are key ingredients for AI deployments

To overcome these obstacles and remain competitive on the global stage, Canadian businesses must prioritize bridging the talent gap by investing in training and development programs for their existing workforce and implement strategies to attract top AI talent Additionally, improving infrastructure through investments in network optimization and stronger cybersecurity will be crucial.

By addressing these critical areas, Canadian businesses will be better positioned to fully leverage AI’s potential and solidify their place in the global AI race

How does Cisco’s AI Readiness Index assess Canada’s position compared to other countries in terms of AI deployment and innovation?

The data reveals that many of the global trends are reflected in Canada Similar to the global figures, AI readiness in Canada has decreased year over year, with only 7% of Canadian organizations fully prepared to adopt and deploy AI. Likewise, we see the same need for investment in supporting infrastructure, including cybersecurity, data management and talent

There is an encouraging bright spot for Canada: 92% of organizations in Canada have an AI strategy in place or under development, far surpassing the global average at 61% This suggests that Canadian organizations are dedicating considerable effort to planning and strategizing AI adoption

However, it’s essential that these organizations avoid becoming stuck in a perpetual planning phase Canadian businesses need to shift their focus to execution and take decisive steps so they can maximize AI’s long-term potential

Without decisive action, we risk creating an AI gap between organizations a scenario where businesses that invest and adopt AI gain significant advantages, including better efficiency and performance, greater innovation, and ultimately, come out far ahead of organizations that fall behind and don’t make these investments.

While the challenges are real, building momentum is critical The goal isn’t for Canada to be 100% fully prepared overnight, but to build a groundswell of progress toward higher levels of AI By elevating the readiness of the majority, Canadian businesses can stay competitive and thrive in the rapidly advancing age of AI

As businesses look to the future, what advice would you offer to Canadian SMBs aiming to leverage AI effectively and sustainably in their operations? What specific strategies or solutions is Cisco providing to help Canadian organizations enhance their AI readiness and address the complexities of AI implementation?

For Canadian SMBs looking to leverage AI effectively, it's essential to establish a strong and robust foundation in three key areas: infrastructure, data management, and talent development Investing in scalable, adaptive, and secure infrastructure is a critical first step

As AI continues to evolve, businesses must ensure their infrastructure is capable of supporting future growth and new technologies Simultaneously, SMBs should focus on strengthening their data management and governance frameworks to ensure data accessibility, consistency, and compliance These steps are crucial for laying the groundwork for successful AI adoption

In addition to these recommendations, at Cisco, we like to emphasize the importance of fostering a pro-AI organizational culture Businesses should look to align their AI initiatives with long-term strategic goals, ensuring that AI projects go beyond enhancing operational efficiencies to become integral to their overall vision This requires support and advocacy at every level of the organization

By embedding AI meaningfully and sustainably into their operations, organizations can position themselves for future growth, innovation, and a competitive edge in the current technological landscape.

Director of Emerging and Value Add Services Moneris, Kip leads a product team that is cused on bringing new payment solutions to e. Among these solutions is Moneris’ Buy Now y Later offering, merchant lending, B2B lutions as well as software plugins. Having ned Moneris in 2015, Kip possesses a deep nderstanding of the payments industry, and e solutions merchants need to grow their usiness.

ior to Moneris, Kip has held positions in areas cross the finance industry, serving in roles at ford Properties, Royal Bank of Canada, and anulife Financial As an active member of oneris’ Inclusive Workplace Council, Kip is also passionate advocate of diversity and social sues

Holiday Trends: Moneris’ Tips for SMBs in

2025

Insights from Kipling Macartney,

Director of Emerging and Value Add Services at Moneris

In an insightful conversation with SK Uddin for CanadianSME Small Business Magazine, Kip Macartney, Director of Emerging and Value Add Services at Moneris, sheds light on the shifting dynamics of consumer spending and payment trends He emphasizes the growing significance of Black Friday transactions and innovative payment options like Tap to Pay on iPhone, which are redefining how small businesses operate during peak shopping seasons. Kip also discusses Moneris’ commitment to supporting small businesses through advanced fraud prevention tools, seamless e-commerce integrations, and data-driven strategies, ensuring they stay ahead in today’s competitive market. His practical advice offers a clear path for SMBs to not only navigate but thrive in an ever-evolving marketplace.

What are the key consumer spending trends

Moneris has identified for 2024, and how can small businesses leverage these insights during the holiday season?

In 2024, we ' ve noticed an interesting shift where Canadians are making more trips to stores but spending less per visit Moneris data shows that while transaction counts have risen, transaction sizes have gotten smaller. For example, in April, spending was up by 8%, driven mainly by a higher number of transactions.

Heading into the holiday shopping season, September's data showed a slight dip in transaction volume, down 3% compared to last year This put the spotlight on Black Friday and Cyber Monday to deliver strong results for businesses And they didn’t disappoint. Black Friday saw an 11% increase in transaction volume year-over-year, thanks largely to a 7% rise in transaction sizes, while Cyber Monday spend was up 10%, driven entirely by an increase in transaction count

Based on Moneris' data, what are some significant differences you saw in consumer behaviour between Black Friday and Cyber Monday, and how can businesses tailor their strategies to maximize sales on these days in the future?

As businesses gear up for the last few days leading into the holidays, which typically see increased spending, it's important to focus on growth and protection strategies. This means brushing up on best practices, monitoring suspicious transactions and making sure secure payment methods are in place. Selling both online and in-store can also open more growth opportunities. Businesses can pinpoint peak times to optimize staffing and enhance customer service by leveraging reporting tools.

Our data reveals that consumers prefer Black Friday over Cyber Monday. This year, Black Friday spending was up 29% week-over-week, with notable growth in regions like Atlantic Canada, British Columbia, Manitoba and Quebec In contrast, Cyber Monday posted a 13% week-over-week increase, however, this growth is more significant than the modest 5% growth seen week-over-week in 2023 With Cyber deals launching earlier each year and online shopping becoming habitual, the impact of Cyber Monday is increasingly dispersed throughout the entire month of December, leading to transition from Cyber Monday to Cyber November

To make the most of these events, businesses can focus on in-store promotions, create urgency with flash sales, optimize staffing and enhance their online shopping experience Highlighting exclusive online deals and offering free shipping can also boost Cyber Monday sales

Fraud prevention is critical, especially during the holiday season. Can you share three practical tips small businesses can implement to protect themselves from fraudulent activities while handling a surge in transactions?

Preventing fraud, especially during the busy holiday season, involves implementing some simple yet effective strategies First, regularly monitor transactions for suspicious activity, like unusually large purchases Second, avoid taking card details over the phone or by mail, as these methods lack protection It's also important to clearly display return policies to keep customers informed and reduce chargeback risks Third, utilize secure payment solutions like Moneris Checkout, which integrates fraud prevention tools and can further protect your business Additionally, being vigilant about phishing and social engineering schemes can help safeguard sensitive information

With innovative solutions like Tap to Pay on iPhone and your partnership with Wix, how is Moneris empowering small businesses to adapt to changing payment preferences and enhance customer experiences?

Moneris is helping small businesses adapt to evolving payment preferences with innovative solutions like Tap to Pay on iPhone and a partnership with Wix Tap to Pay on iPhone allows businesses to accept contactless payments without additional hardware, offering mobility and ease for onthe-go transactions The collaboration with Wix provides a comprehensive e-commerce platform, Moneris Total Commerce, which integrates online and in-store operations for a seamless customer experience These solutions enable small businesses to streamline operations and effectively meet ands payments, what o small businesses hrive during the , ensuring longew year?

optimize their inons to thrive during secure long-term ris Total Commerce roviding a ience that sfaction Avoid to reduce fraud mprehensive security ng tools to identify which will aid in gement and sing sales volume on values and ully capitalize on the stage for ar.

Boosting Workplace Happiness:

InsightsfromADPCanada’s

In an interview with Maheen Bari for CanadianSME Small Business Magazine, Heather Haslam, Vice President of Marketing at ADP Canada, shares insights from the November 2024 Happiness@Work Index, highlighting how holiday happiness is offset by financial stress She discusses the impact of gig work, the need for financial wellness programs, and how employers can boost productivity and retention by supporting employee well-being

Heather leads the ADP Canada Marketing mandate to support businesses across all segments in Canada In her role, Heather provides strategic direction for Marketing planning including product marketing, campaign management, demand generation and branding.

Heather has more than 25 years of experience in the Canadian technology Market. She is a proven, accomplished and dynamic leader specializing in motivating people for change and increased productivity with successes across Marketing, Sales Channel Development, Product Management, and Mergers & Acquisitions

Heather holds a degree in Psychology, a Masters of Business Admin from the Ivey School of Business, and has dedicated her free time to volunteering with a variety of mental healthrelated causes Heather is currently serving as the Chair of the Board for The Institute for Advancements in Mental Health

Heather Haslam, VP of Marketing, ADP Canada

Can you explain the key findings from ADP's November Happiness@Work Index, particularly the impact of financial stress on employees during the holiday season?

The November edition of ADP Canada's Happiness@Work Index reveals several key findings:

Slight Increase in Worker Happiness: The National Work Happiness Score for November 2024 is 67/10, a 01-point increase from October This uptick is attributed to the approaching holiday season, which generally boosts worker morale.

Financial Stress and Gig Work: Despite the increase in happiness, financial stress remains a significant concern About 31% of workers in Canada rely on gig work to cover regular expenses like daily living costs and bills This could indicate that many employees might be turning to temporary or freelance work to help manage their finances

Generational and Regional Differences: Boomers (59+) continue to be the happiest generation with a score of 7.2/10, while Gen-Z (18-26) shows significant growth in sentiment, scoring 70/10 Regionally, Atlantic Canada is the happiest with a score of 70/10, while Alberta remains the least happy at 64/10

4) Impact of Holiday Spending: The report highlights that the cost of living and holiday spending pressures could be contributing to financial stress Employers can support employees through resources like flexible benefits, financial wellness programs, and budgeting tools

Overall, while the holiday season brings a boost in happiness, financial stress due to rising living costs and holiday expenses remains a challenge for many workers

How does employee financial stress correlate with productivity and overall business growth, and why should employers take action now?

Financial stress can have impacts on employee mental health Employers can prioritize mental health at work through a variety of benefits from workplace flexibility to mental health counseling, in addition to financial literacy resources that help workers stay on top of their finances When employees have peace of mind on things including their finances, they can fully engage with their priorities at work Building a fully engaged workforce can then lead to higher productivity, which can catalyze business growth.

What flexible benefits, financial wellness programs, and budgeting tools would you recommend for employers to help alleviate financial stress for their employees?

Offering a Registered Retirement Savings Plan (RRSP) is another fantastic way to help boost financial security and reduce stress, while also helping make your company more attractive to talent

Lifestyle Spending Accounts (LSAs) are also a great option they're customizable, post-tax accounts that can cover a range of expenses like childcare and eldercare, easing financial pressure

Employee Assistance Programs (EAPs) provide confidential support for work, health, or life concerns, which can be a huge help in managing stress

Tuition assistance programs can help employees cover education costs, reducing financial stress and supporting their career growth Incorporating these benefits can help employers create a more productive and engaged workforce

Financial literacy can help employees understand the value of savings and provides increased control and confidence over financial health

Understanding career development opportunities and the associated training and skills required to progress help employees see the path to increased impact and financial reward.

The report highlights a rise in gig work in Canada. What does this mean for traditional employers, and how can they adapt their strategies to remain competitive in attracting and retaining talent?

The rise in gig work presents an opportunity for traditional employers to rethink their talent strategy Gig work offers great flexibility, allowing workers to choose when, where, and how they work, which is highly attractive to many However, this flexibility often comes at the cost of stability and benefits that traditional jobs provide. 31% of workers in Canada rely partially on gig work to help cover regular expenses, such as daily living costs and bills For traditional employers, this means they need to rethink their strategies to remain competitive in attracting and retaining talent

To adapt, employers can consider offering flexible work arrangements, enhanced benefits packages, while also focusing on skills development, promoting work-life balance and fostering a positive work culture Employers can also encourage workers in Canada to take their allotted vacation and to disconnect when they do Employers can help by ensuring coverage exists, that there isn’t any stigma associated to taking a break, and to have leaders role model taking vacation Many factors go into a positive work culture beyond just fair pay and a thorough compensation program

ADP’s 2025 HR Trends Guide shows that many of these talent measures will be top priorities for employers going in 2025. Specifically, enhancing the employee experience employee well-being, and training and skills-development are prime concerns for employers next year as they navigate significant shifts across talent, compliance and technology.

Co-Founder and Executive Chairman of 369 Global

Muraly Srinarayanathas stands as a distinguished leader and globalist whose work has profoundly reshaped the landscape of international business and community development

Raised by first-generation immigrant parents and living as a global citizen, Muraly offers a unique, borderless perspective that drives his mission to empower communities and foster inclusive growth.

As Co-Founder and Executive Chairman of 369 Global, Muraly spearheads a conglomerate renowned for its excellence in skills training, workforce development, media, communications, and global market facilitation His strategic acquisition and revitalization of Computek College in 2014

CulturalIntelligenceforBusinessGrowth Insightsfrom MuralySrinarayanathas

In this insightful interview with CanadianSME Small Business Magazine by Kripa Anand, Muraly Srinarayanathas, CoFounder and Executive Chairman of 369 Global, reflects on his journey as a global leader and advocate for inclusive economic growth With over 25 years of international experience, Muraly shares how his multicultural upbringing and global exposure shaped his business philosophy, including the creation of the EIA (Embed, Interpret, Act) framework From revitalizing Computek College to launching 3 Magazine, his ventures highlight the power of diversity, cultural understanding, and authentic engagement in driving innovation and success. Muraly’s vision for 369 Global and 3 Magazine emphasizes the role of storytelling and community empowerment in fostering cross-cultural connections and building a more inclusive, prosperous future

demonstrates his commitment to innovative education and workforce solutions, effectively preparing individuals and businesses to thrive in a rapidly evolving global landscape

A recognized authority on Third Culture Individuals, Muraly founded 3 Magazine, a luxury lifestyle and business publication created in collaboration with St. Joseph Communication. The magazine delves into global narratives, intertwining identity and innovation to cultivate a deeper understanding and appreciation of diverse experiences and value creation.

Beyond his business ventures, Muraly’s influence extends to the public and private sectors through impactful keynote speaking engagements, civic initiatives, and board positions His unwavering dedication to diversity, equity, and economic development underpins his legacy of fostering sustainable, positive change worldwide

Your book Between Borders, Beyond Boundaries explores strategies for authentic business engagement. Can you share the key inspiration behind writing it and how your 25 years of international experience shaped its narrative?

I was inspired to document my lived experience to show others what they, too, can achieve. My unique, multicultural upbringing has profoundly shaped my perspective. After university, I had the privilege of living and working across eight countries on three continents, which enriched my understanding of global and local cultural dynamics and gave me a distinctive third-culture perspective

I hope readers, especially business leaders looking to expand globally, find inspiration in this book I encourage them to embrace local contexts while pursuing global ambitions and adopt sustainable business practices rooted in a deep understanding of diverse markets

I strive to help others achieve meaningful and impactful connections in their endeavours through the insights I share

The EIA method Embed, Interpret, Act has been a cornerstone of your success. Could you elaborate on this framework and how businesses can apply it to thrive in non-Western markets?

Through my global business experience, I developed the EIA (Embed, Interpret, Act) Method, a three-step approach which has helped me thrive in diverse environments Historically, we have seen visionary leaders like Alexander the Great and Genghis Khan succeed by embracing and adapting to the practices of various local markets

This approach is more relevant than ever in today's interconnected world, especially for Western businesses seeking to expand into non-Western markets Companies must understand and respect local cultures rather than impose foreign frameworks The EIA Method provides a roadmap for companies to achieve this, fostering meaningful connections for sustainable growth

Embed: Immerse oneself in the local culture to build genuine connections and understanding

Interpret: Analyze the cultural nuances and gather insights from observations and interactions

Act: Adapt strategies and behaviours to align with the local context, ensuring respect and effectiveness Businesses can apply this method by focusing on authentic engagement, learning local traditions, and adapting products or services to meet the specific needs of their target communities.

With 3 Magazine highlighting Canada’s cultural diversity and stories like Maitreyi Ramakrishnan's, how do you see media playing a role in bridging cultural gaps in both business and society?

Media can help bridge cultural gaps in business and society, which inspired me to create 3 Canada’s rich diversity spans third-culture individuals, newcomers, and the culturally curious A platform that celebrates these unique individuals and their stories is needed By sharing authentic narratives, we highlight the people and experiences that make Canada a vibrant, multicultural, inclusive and prosperous nation It helps to break down stereotypes, create greater understanding and empathy, remind us of our shared humanity, and highlight our values and experiences

For businesses, these stories can provide invaluable insights into the nuances of different cultures Highlighting how culture shapes identity, values, and decision-making can help leaders diversify their workforce, build stronger relationships, and thrive in global markets These key factors create genuine connections.

Through 3, I aim to spark meaningful conversations about inclusion and representation. It is a bridge that encourages citizens and businesses alike to recognize and embrace the strength of diversity. This goes beyond celebrating differences; it’s about learning to collaborate, innovate, and succeed together. We can build a thriving society and economy by understanding and valuing diverse perspectives.

What do you believe are the biggest misconceptions Western businesses have when entering non-Western markets, and what strategies can they adopt to overcome these challenges?

One of Western businesses' biggest misconceptions when entering non-Western markets is the assumption that their standard practices apply universally This perspective often overlooks the rich cultural nuances that shape consumer behaviour and decision-making in non-Western markets. This one-size-fits-all approach can lead to missteps, from poorly received marketing campaigns to failed product launches, and ultimately, a loss of trust and credibility

For businesses to truly succeed in diverse global markets, they must shift from imposing their methods to genuinely understanding and adapting to local contexts The first step is to invest time in research and cultural immersion This means learning about local traditions, consumer preferences, and the unique dynamics that drive decision-making Engaging with local experts or hiring team members with intimate market knowledge is also invaluable

Adopting frameworks like the EIA (Embed, Interpret, Act) Method ensures businesses approach new markets with cultural sensitivity. Ultimately, businesses succeed when they respect each market's unique characteristics, fostering trust and collaboration that leads to sustainable growth.

Looking ahead, what is your vision for 369 Global and 3 Magazine? How do you see these ventures contributing to the broader conversation around diversity, inclusion, and cross-cultural understanding?

My vision for 369 Global and 3 magazine is deeply rooted in fostering diversity, inclusion, and cross-cultural understanding on a global scale; our mantra is about understanding global markets to create local value All my business ventures represent a commitment to building bridges between cultures, driving conversations that matter, and creating meaningful opportunities

369 Global developed global training programs to prepare individuals for cybersecurity roles in Canada By connecting professionals across continents and sectors, we foster technical skills, mutual knowledge exchange, and perspectives that build a workforce and a global community that thrives on shared understanding

3 amplifies the voices of Canada’s diverse individuals and communities Through storytelling, we celebrate diverse individuals and their backgrounds, which fosters inclusion, breaks down barriers, and inspires collaboration between communities and businesses

They contribute to a more extensive dialogue on how embracing cultural differences fuels innovation, drives growth, and fosters global collaboration I firmly believe that diversity is not just an asset it’s the foundation of our collective success Canada holds a significant advantage in this regard, with its rich multicultural landscape providing a unique platform to lead by example on the global stage

Igniting Entrepreneurial Spirit: 2025 Perspectives and Possibilities

As we usher in 2025, CanadianSME Small Business Magazine is privileged to present a curated collection of inspiring New Year messages from esteemed business leaders and government officials. These thoughtful reflections on the challenges and triumphs of 2024 offer invaluable insights and encouragement for the year ahead

Small businesses and entrepreneurs form the cornerstone of Canada's economic landscape, driving innovation, generating employment, and fortifying communities The words shared by our leaders underscore the critical importance of your contributions and reaffirm their commitment to fostering your growth and success

We extend our profound gratitude to all the visionary business leaders and officials who have generously shared their wisdom and well-wishes Their messages provide a wealth of perspective, motivation, and strategic guidance as we embark on a new year brimming with possibilities

We invite our esteemed entrepreneurs, innovators, and business visionaries to draw inspiration from these messages as you set ambitious goals and chart your course for 2025. May these words of encouragement fuel your entrepreneurial spirit, bolster your resolve, and serve as a reminder of the pivotal role you play in shaping Canada's economic future

As you peruse these messages, we hope you find the motivation to overcome challenges, seize opportunities, and continue driving the innovation that keeps our nation at the forefront of global business Your resilience, creativity, and determination are the engines of our collective prosperity

As we step into a new year, we want to take a moment to wish all of our customers, partners, and supporters the very best in 2025 The start of a new year is a perfect time to reflect on the opportunities that lie ahead and at UPS Canada, we ' re excited about everything that's in store

This year marks a milestone for us as we celebrate 50 years of service in Canada! When we first began operations in 1975, we had just one employee delivering in a checkered cab Over the years, we ' ve grown alongside our incredible customers, expanding our reach and services to help businesses thrive across Canada and beyond

This year, we ' re thrilled to announce the expansion of our Saturday delivery options, giving you even more flexibility to meet your customers' needs Additionally, our new technology and tracking tools will make it easier than ever to monitor your shipments and keep things moving smoothly We believe that these new advancements will make a real difference in your ability to compete and grow, and we can't wait for you to experience them firsthand

As we look ahead, we remain dedicated to supporting Canadian entrepreneurs and businesses as they grow and expand into new markets We're here to help you seize every opportunity for success Whether it's through new services, innovative technology, or enhanced tracking tools, were committed to providing the tools you need to stay ahead of the competition

UPSCanadaMarks50Years: ANewYearofGrowthand Opportunity

Paul Gaspar , Director of Small Business, UPS®

Canada

As we celebrate these milestones, we want to express our sincere gratitude to our customers Thank you for trusting us to be a part of your growth story in Canada and in new markets Your success is our success, and we are deeply honored to have been part of your journey

As we move into 2025, we ’ re excited for the opportunities ahead Here’s to a year of growth, new possibilities, and continued success We look forward to helping you achieve even greater things in the year to come

All the best for a bright and prosperous 2025!

Paul Gaspar was appointed director of small business for UPS Canada in 2011 His role is to educate and guide small businesses in Canada on ways to better leverage UPS’ tools to help them grow and expand both domestically and internationally With his team of small business ambassadors, he empowers small business owners to determine the best mix of customized services, technologies and innovations available to them

Paul’s career with UPS began in 1991 in operations which progressed to eight roles in five different functions Through these roles, he discovered a passion for working with small businesses and helping them thrive He now leverages his growing network of entrepreneurs and the focused learnings of SME supply chains to improve the success rate of small businesses looking to scale and go global He’s been a leader and mentor within the Startup Community since 2015 with an unwavering commitment to support entrepreneurs across Canada

Paul obtained a degree in Economics from York University

As we step into 2025, Im inspired by the remarkable resilience and ingenuity of Canada’s small business owners At Cooperators, we ’ re committed to providing personalized advice and solutions that empower small businesses to thrive in the face of uncertainty We’re more than an insurer we ’ re partners in resilience for Canada’s small business community

We understand that losses are profoundly impactful events for business owners That’s why we focus on going beyond insurance, working alongside our clients to help prevent incidents before they happen or minimize their effects when they do Whether it’s reducing risks through personalized advice or offering innovative solutions tailored to specific business needs, our goal is to empower entrepreneurs to protect what matters most and build long-term resilience

Resilience is at the heart of success, and that begins with preparedness. It’s about knowing where risks lie and taking steps to minimize them whether that’s preventing cyber threats, addressing climate-related risks, or safeguarding your operations against disruption and the unexpected Working with our clients as partners, we help create customized strategies that reduce the likelihood of loss and strengthen their ability to recover when challenges arise

Small and independent businesses are the backbone of communities, driving innovation and opportunity for us all At Co-operators, we ’ re committed to supporting your journey - as your insurer and financial advisor, as a trusted partner invested in your long-term success, and as a peer In fact, one of the many reasons our advisors have such a unique understanding and care of the challenges small and private business’ face, is because they’re small business owners too

As we enter this new year, I encourage small business owners to embrace opportunities for growth and build resilience into every step of their operations Lean on your networks, seek expert advice, and embrace the opportunities change brings The path to success isn’t travelled alone, and together, we can make 2025 a year of thriving, not just surviving.

Mark has 35 years of experience in the insurance industry and Co-operators His career began in sales, working his way up to sales management In late 2006, Mark became the National VP of Personal Lines (Home and Auto insurance) for Cooperators. In 2010 Mark moved into his current role - VP of the Ontario Region –where he is responsible for 255 advisor agencies and their staff

Mark holds his BA in Economics from the University of Waterloo, his Certified Insurance Professional (CIP) designation, Chartered Financial Consultant (ChFC) designation, Chartered Life Underwriter (CLU) designation, Certified Financial Planner (CFP) designation, LIMRA Leadership Institute Fellowship (LLIF) designation, his Chartered Director (C. Dir) designation, his Certified Executor Advisor designation and his life, other than life and mutual funds licenses

Mark is married to his lovely wife Sonia They have four sometimes wonderful children (3 boys and 1 girl) ranging between 26 and 30 They live north of Guelph, Ontario outside of the village of Elora

Mark Feeney, VP, Central Ontario Region at Co-operators

As we step into 2025, I want to thank Canada’s small business owners for their hard work and resilience You are the foundation of our economy and the heart of our communities, driving innovation and creating good jobs.

Over the past year, we ’ ve reduced credit card fees, improved access to financing, launched the Canada Carbon Rebate for small businesses, announced supports for digital adoption to help small businesses thrive in today’s economy, and implemented a GST break is already boosting sales for small businesses

We’ve also made a significant investment in Futurpreneur Canada to support young entrepreneurs These efforts are about one thing helping you succeed

ChampioningSmall BusinessSuccessin2025: AMessagefromMinister

Hon. Rechie Valdez

Minister of Small Business, Canada

The Honourable Rechie Valdez was elected as the Member of Parliament for Mississauga-Streetsville in 2021. She is a mother of two, wife, Canadian entrepreneur, television personality, and community advocate She is the first Filipino-Canadian woman elected as a Member of Parliament and appointed to Cabinet Before politics, Minister Valdez owned and operated a small bakery business and was the host of a TV show that shares the stories of entrepreneurs, creators and artists. Prior to that, she worked in corporate banking for 15 years Born and raised in Zambia, Minister Valdez immigrated to Canada with her family in 1989

As we kick off the year, our government remains committed to continue supporting small businesses across Canada.

To small businesses across the country, your dedication inspires us all, and our government will continue to have your back

Let’s make 2025 a year of success!

As we step into 2025, small businesses like yours remind us that anything is possible with hard work, resilience, and a passion for what you do In our latest Small Business report, we highlighted first-hand conversations and informal client surveys with entrepreneurs that underscored how Canadians are launching businesses driven by a desire to make a positive impact We also learned that they are proactively seizing opportunities as they arise, and that many are starting small and scaling up gradually In other words, starting a business in Canada today is personal, intentional, and purposeful

This year, we ’ re energized by the opportunities to support and celebrate your journey We’re committed to being by your side as you set and achieve new goals, strengthen your relationships with your customers, and continue to leave a lasting impact on your community

The start of a new year is often a time for fresh ideas, renewed focus, and bold ambitions With 95% of business owners saying they feel the need to stay proactive in the present climate, entrepreneurs can start strong by reviewing what went well, and what could be improved for the year ahead Consider creating – or refining – your business plan to help you identify and reach your goals for 2025 Look for ways to scale your operations, expand your product lines, or explore new markets This exercise can uncover new efficiencies, spark innovation and open doors to new growth

We believe in the power of small businesses to shape the future, and we ’ re here to help you every step of the way As an organization deeply rooted in supporting and empowering small businesses, our goal is to make it easier for Canadian entrepreneurs to navigate every stage of their business growth with unique solutions that go beyond banking

Thank you for the inspiration you bring to your community and beyond We can’t wait to see what this year holds for you

NewYear,NewOpportunitie forSmallBusinesses

Don Ludlow

Vice President of Small Business, Strategy & Partnerships at RBC

In an insightful interview with CanadianSME Small Business Magazine, Don Ludlow, Vice President of Small Business, Strategy & Partnerships at RBC, shared his thoughts on the surge in entrepreneurial interest across Canada Based on findings from the 2024 RBC Small Business Poll, Ludlow delves into the diverse pathways Canadians are taking to start their own ventures and the evolving landscape of small business ownership With a focus on flexibility, meaningful work, and the rise of “blended careers,” he highlights the factors driving this shift and offers advice for aspiring entrepreneurs looking to turn their passions into successful businesses.

Despite economic uncertainties and rising inflation, the entrepreneurial spirit in Canada remains undeterred Whether turning a side hustle into a full-time business or launching something new, 2025 presents unique opportunities to take control of your financial future

Small businesses are the backbone of Canada’s economy, fostering job creation, innovation, and community resilience. Despite challenges like inflation, new data found nearly 91% of small business owners are optimistic about growth in 2025 And, these small businesses make a powerful impact on their communities In fact, for every $1 spent at a small business, 67 cents stays within the local economy

Start Small and Focus on What You Do Best

Don’t spread yourself too thin Begin by honing in on your core strengths, highlighting what’s unique about your product or service Starting small allows you to fine-tune your offering and test the market before scaling up

Harness the Power of Technology

Today’s tools can help automate the areas of marketing with the most friction, like creating content or choosing the right channels From email to social media to SMS and more, the right marketing tools can help reach the right people at the right time so you can engage your audience and drive sales without needing to be a marketing expert

Prioritize Customer Relationships

Your customers are your greatest asset Build strong, lasting relationships by offering excellent service and staying engaged with them. Use email marketing to keep them informed, build loyalty, and encourage repeat business.

Stay Lean and Focused—Be Resilient

The road to success will have its challenges, but small businesses are known for their resilience. Keep operations lean, stay flexible, and be adaptable. Don’t let short-term obstacles derail your longterm vision.

At Constant Contact, we ’ re here to help small businesses succeed Our tools make marketing simple and effective so you can focus on what you do best With passion and persistence, 2025 could be the year you turn your entrepreneurial dreams into reality

Amanda Parker, Canada General Manager Constant Contact

Amanda Parker is General Manager of Canada at Constant Contact, a small business marketing solution that makes marketing easy and effective for small businesses and nonprofits around the world Based in Toronto, ON, Amanda brings her deep passion for small businesses to Constant Contact’s Canada team, championing their growth through powerful online marketing tools She previously served as Chief Growth Officer at FundThrough, helping small businesses bridge cash flow gaps. As a former entrepreneur, Amanda has also built and sold two companies and collaborated with major brands like Intuit, Microsoft, Pepsi, and 20th Century Fox always focused on empowering businesses to thrive

Imagine a business partner who can work around the clock, handle tedious tasks, and even help you attract new customers. Thats the power of AI for small and medium-sized businesses (SMEs). Many SMEs experimented with AI last year, but it’s a huge opportunity for resource-strapped companies in 2025 to transform and innovate In fact, our research shows that AI has the potential to boost our economy by $230 million and save the average Canadian worker 175 hours per year

There are several tangible areas where SMEs can leverage AI to create lasting impact First, AI can analyze customer data quickly and efficiently to develop personalized product recommendations for customers and marketing campaigns, helping unlock new revenue streams Second, AI-powered chatbots can easily handle common customer inquiries like questions around shipping or return policies, helping free up employees to focus on more complex requests Lastly, AI can automate tasks like scheduling, data entry and inventory management, freeing up teams to focus on strategic initiatives like client acquisition and business expansion.

In our polling of SMEs who are early adopters of AI, 50% of leaders use (or plan to use) AI to save time, 46% to save money, 43% to grow their business and 55% to work more efficiently. For example, I’m impressed with Viral Nations launch of a brand reputation solution powered by Google Cloud’s Gemini models, which helps companies mitigate risks in influencer marketing campaigns And Oakville-based telematics provider Geotab uses Google Cloud’s AI to capture data from 1 4 million vehicles to help global manufacturers and distributors better identify inefficiencies and optimize deliveries, drivers and vehicles

SMEs need to start now The businesses that embrace this technology wont just improve their operations – they'll be able to provide better service to customers, find new revenue streams, and level the playing field with larger competitors The question for SMEs isn't whether to adopt AI, only how best to use it to achieve your goals

Sam Sebastian, VP and Country Manager for Google Cloud, Canada

Sam Sebastian is the VP and Country Manager for Google Cloud in Canada In this role, he is responsible for all Cloud & AI business operations in Canada and scaling Google’s enterprise technology division to the private and public sectors in Canada.

Prior to Google, Sam was the President and CEO of Pelmorex Corp. Sam joined Pelmorex from Google, where he held many executive-level positions in the US and Canada, including VP & Country Manager for Canada. Prior to this, he was a General Manager and Senior Vice President at a large online classified business, Classified Ventures (cars.com, apartments.com).

As we enter the new year, we are met with endless possibilities and potential. It’s an excellent reminder to reflect on the past and plan for a brighter future While many of us set personal resolutions, growth for our teams and businesses is also top of mind

Undoubtedly, the foundation for any thriving business begins with effective leadership and an engaged culture For leaders and business owners alike, thinking about and clearly defining your leadership vision can influence the culture of your business and re-align your approaches and attitudes towards achieving your goals

Our annual HP Work Relationship Index found that demonstrating empathy is a core component for employees to have a healthy relationship with work At HP, inspiring our team and creating a sense of belonging where individuals and teams can thrive are essential to our success In our modern work world, this means enabling everyone to be authentically seen and heard, so they can create, contribute, and excel.

The Future of Work is driven by growth and fulfillment, supported by technology that enables you and your business to work efficiently By embracing innovation and equipping your teams with trusted technologies that allow users to work smarter, provide meaningful impact, and keep sustainability in mind, you can foster healthier relationships with work This allows your teams to be more productive and focused on the tasks that matter most

It’s important to remember that no leader or business thrives in isolation By welcoming diverse perspectives and collaborating with your teams and external partners, you can tap into new resources, expand your reach, and leverage others' expertise to unlock new growth opportunities

As you embark on this new year, I encourage you to think about your leadership vision and how you can inspire and position your team to achieve the goals you set for your business through innovation and collaboration. At HP, our goal remains to provide you and your team with expertise and advanced technology solutions to help you succeed. May this year bring growth, resilience, and remarkable achievements for your business

Michelle Biase, President and Managing Director,HP Canada

Michelle Biase is an accomplished executive with over 30 years of experience in the Canadian IT channel She has held leadership roles in sales, vendor management, operations, and professional services, with specialization in areas such as cloud, DaaS, managed services, and channel strategy She has contributed these skills at pioneering tech companies including D&H Canada, HP and CDW, in addition to experience with major distribution companies in North America. Biase was one of CRN’s Women of the Channel in 2022 and 2023. As one of the few female presidents currently serving in the Canadian high-tech marketplace, she is committed to advancing diversity and inclusion in the IT sector.

As we step into 2025, the contributions of small and midsize enterprises (SMEs) remain at the core of Canada’s economy. Representing nearly 99.8% of all businesses, SMEs drive innovation, create jobs, and strengthen local communities In-person connections proven to be 34 times more effective than emails are essential for building relationships and unlocking growth opportunities

At IHG Hotels & Resorts, we recognise the unique challenges SMEs face, particularly when it comes to travel Rising costs, unpredictable schedules, and limited resources often make travel planning daunting That’s why IHG Business Edge was created to empower businesses like yours with tailored solutions, enabling you to focus on growth while we simplify the complexities of travel

Our programme offers exclusive savings, no minimum spend, and access to a network of over 6,000 hotels worldwide It combines value with flexibility, allowing SMEs to book effortlessly via our user-friendly portal, IHG app, or other convenient options The programme also provides tools like an activity dashboard to help you manage spending, track room nights, and streamline travel planning.

Looking ahead, IHG Business Edge is evolving to better serve SMEs in Canada. Our exclusive Partnership Program connects members to trusted companies offering discounts on technology, car rentals, and more maximising your value beyond accommodation

We’re proud that for six consecutive years, Global Traveler readers have recognised IHG Business Edge as the best SME travel programme But the accolades are just the beginning; our commitment is to continuously innovate based on your feedback, ensuring our programme aligns with your business needs in 2025 and beyond

As you chart your path for the year, consider how the right travel partner can help amplify your success We’re excited to continue supporting Canadian SMEs with smarter, more efficient travel solutions Here’s to a prosperous and connected 2025!

Kate Norris, Director of IHG Business Edge

A seasoned Hospitality Professional with over 25 years of experience, Kate brings extensive expertise in sales, strategy, and the hospitality industry She has contributed to the success of global organizations and demonstrated entrepreneurial excellence by founding and leading her own hospitality sales business For the past eight years, Kate has successfully led high-performing sales teams and currently spearheads the IHG Business Edge program while driving sales strategy for small to medium enterprises

As we step into 2025, I want to take a moment to reflect on what truly drives our work at Peninsula your success. As small business owners, you are the backbone of our economy, the innovators, and the hard workers who inspire growth, change, and progress Your success is not only a testament to your vision and commitment but also to the invaluable contributions you make to the economy and the community

With constant changes in legislation and the complexities of managing compliance, it can often feel like there’s not enough time or resources to focus on what truly matters growing and leading your business But you don’t have to do it alone By partnering with experts who are dedicated to keeping you informed and compliant, you can focus your energy on leading your team, serving your customers, and pursuing the growth you ’ ve worked so hard to achieve

At Peninsula, our goal is clear: we want to ensure that all small businesses regardless of industry are protected, have the resources they need to succeed and help them mitigate risk. We understand that every business is unique, and we are committed to providing tailored support that allows you to not only stay compliant but to thrive Whether youre in retail, manufacturing, healthcare, or any other sector, our mission is to equip you with the tools, knowledge, and confidence to build a strong foundation for growth and long-term success

As we look ahead to a new year, I encourage you to see every change not as a barrier, but as a chance to evolve, refine, and strengthen your business Together, we can turn uncertainty into opportunity and ensure that your vision continues to drive success, no matter what comes your way

Raj is a highly accomplished executive with a diverse background in IT, procurement, financial planning, business intelligence, and strategic growth His leadership journey includes successfully establishing Peninsula's operations in Canada, serving as CEO of Peninsula Ireland for two years, and now driving the success of Peninsula Canada and BrightHR Canada as CEO

With a sharp strategic mindset and a relentless focus on excellence, Raj has played a pivotal role in advancing the company’s expansion and success. His leadership is defined by a collaborative, results-driven approach, and he is deeply committed to building a culture of innovation, inclusivity, and high performance across the business. Raj’s unwavering dedication to both business growth and team development has been essential in shaping Peninsula’s continued success.

Raj Singh, CEO at Peninsula Canada

Young Lee, Canada Market Lead, GoDaddy

Young Lee is a seasoned marketer with over 19 years of extensive marketing experience in the technology industry. Due to her personal entrepreneurial endeavours and growing up with a family that ran a small business for many years, Young has a passionate connection when seeing small business owners thrive doing what they love. Currently at GoDaddy, she leads the Canadian business as Market Lead, helping small businesses grow using GoDaddy products and tools.

As we usher in the new year 2025, it's a great moment to reflect on the resilience, evolution and innovation of entrepreneurship in Canada Recent findings from GoDaddy's Venture Forward research initiative highlight a fascinating shift in the demographics of business owners: young Canadian entrepreneurs are increasingly forgoing the traditional university route, with our research indicating that they are far less likely to have attended university compared to their older counterparts ”

Moreover, nearly half (48%) of those who did pursue higher education felt that their university experience did not significantly contribute to their entrepreneurial journey This suggests a paradigm shift in how we perceive and approach business education and support

Despite the economic turbulence of 2024, Canadian microbusinesses have demonstrated remarkable resilience Their tenacity is not just a testament to their individual spirit but also to the ecosystem that supports them At GoDaddy, we are proud to support and empower microbusiness owners – they are the backbone of our economy, and their ability to adapt and thrive is crucial for our collective prosperity

One of the most empowering tools in this adaptation in 2025 will be Generative AI (Gen AI) technologies Our latest research reveals that a significant majority of Canadian microbusiness owners (61%) have harnessed Gen AI tools in recent months Gen AI offers microbusinesses the ability to compete with larger companies by streamlining operations, enhancing customer experiences, and fostering innovation at a fraction of the cost

Against this backdrop, our GoDaddy Airo experience empowers entrepreneurs to unlock new opportunities, drive efficiency, and carve out a competitive edge in the marketplace Here's to a year of growth, innovation, and empowerment for microbusiness owners across Canada

Faye Pang, Chief Growth Officer at FreshBooks

Faye Pang is the Chief Growth Officer at FreshBooks, a leading SaaS accounting software built for small business owners that consistently ranks #1 for ease of use. Designed to keep things simple and stress-free, FreshBooks makes the hard parts of running a business easier With a proven track record in scaling businesses across accounting, logistics, and technology, Faye brings focus on delivering an exceptional customer experience to expand FreshBooks’ reach across North America Her dedication to empowering entrepreneurs reflects the core values that make FreshBooks a trusted partner to small business owners

As we welcome 2025, it’s the perfect time to embrace new opportunities This is your moment to reflect on what worked, learn from what didn’t, and set bold goals for the year ahead

Make the Hard Part, Easy: Running a small business comes with its share of challenges and administrative tasks can often feel overwhelming As you think ahead, how can you streamline your day-to-day work, get paid faster, and focus your energy on what matters most to you and your business?

Get Ahead of Tax Season: The start of the year is also the best time to prepare for tax season, especially with evolving tax regulations. Staying compliant is critical, but it doesn’t have to be stressful. Automate your tools that track expenses, organize receipts, and stay on top of your finances, so you are ready for whatever tax season throws your way.

Move from Surviving to Thriving: 2025 isn’t about just getting by; it’s about levelling up SMBs can move from surviving to thriving, from expanding your customer base, investing in new tools, or simply taking time to recharge – the key is prioritizing what will have the biggest impact on your goals

As a Canadian-founded tech company, FreshBooks is inspired by Canada’s small business owners and we are committed to making your success our mission From practical tools, to exceptional customer support, we ’ re here to help you seize the opportunities for what promises to be an amazing year ahead.

It’s an ideal time for small and medium business owners to reflect on 2024 and set the foundation for a successful year ahead The challenges you ’ ve faced rising healthcare costs, evolving employee expectations, and the need for innovative benefits solutions are significant, but they also present valuable opportunities for growth and improvement

Now is the moment to modernize your employee value proposition By developing a comprehensive benefits strategy, that can rival large organizations, you can effectively address the complexities of today’s workforce while being aligned with your business goals At Mercer, we understand the unique challenges you encounter, and with our global scale and local understanding We know how important it is for businesses of all sizes to get this right and we are here to help you build an all-in-one, competitive total employee value offer

As you plan for 2025, focus on these key areas:

Compensation Data and HR Policies: Ensure your compensation strategies are competitive and transparent, helping you attract and retain top talent.

Long-Term Savings and Sustainability: Explore innovative cost management strategies that provide valuable benefits without compromising your financial health

Holistic Employee Benefits: Prioritize mental, physical, social, and financial wellbeing to create a healthier, more engaged and resilient workforce

Let’s work together to create a robust employee benefits strategy that not only supports your business goals but also fosters a thriving workplace Here’s to an inspiring kickoff to 2025!

including 24 years at Mercer Based in Ottawa, Ontario, she drives cross-practice initiatives and business growth within the SME/Commercial Consulting segment. Julie specializes in leading carrier agreement negotiations and developing tailored, holistic solutions that enhance employee value propositions for small and medium-sized enterprises

She partners with clients across various industries to design comprehensive benefit plans and wellbeing solutions, ensuring they are financially sound and aligned with total rewards strategies Julie is actively involved in the Ontario business community, serving as a Board Member of the Regroupement des gens d’affaires de la Capital Nationale and as a founding member of La Federation de gens d’affaires de l’Ontario. Additionally, she mentors future leaders at the Telfer School of Business at the University of Ottawa Julie’s expertise and community engagement make her a respected figure in the industry

Karen Greve Young is CEO of Futurpreneur, a national non-profit whose proven loan financing with mentorship model has supported the success of 18,700+ young entrepreneurs since 1996. Building on her global finance and strategy experience, Karen is an accomplished leader dedicated to fostering inclusive economic and social prosperity through new approaches and partnerships Her panCanadian Futurpreneur team is proud of their work helping diverse, young entrepreneurs launch businesses that contribute to sustainable economic development in their communities and for Canada

Karen previously worked at Toronto’s MaRS Discovery District and in San Francisco, New York and London, at organizations including Bain & Company, Gap Inc. and the UK’s Institute of Cancer Research Karen serves as Chair of the Board of Ovarian Cancer Canada She holds an MBA from Stanford University and a BA in Economics from Harvard University

Karen Greve Young, CEO, Futurpreneur

The resilience, creativity and grit demonstrated by small business owners across Canada this holiday season is still fresh as 2025 begins I had the opportunity to meet dozens of inspiring young entrepreneurs across Canada during Futurpreneur’s Holiday Shopping Tour, and shopped many more in our digital gift guide Social media was filled with the typical annual messages encouraging Canadians to “shop local” – with extra urgency this year as the Canada Post strike disrupted delivery of online purchases

Canadians take great pride in our 1 2 million small businesses, a rich array of enterprises representing different sectors and spanning every province and territory We owe you more than pride

For small business owners to succeed, we need to show our pride through our support, with our wallets and our experience. This is what our Futurpreneur team strives to do, and my new year ’ s message to small businesses is a clarion call to the rest of Canada to support you in two important ways

First, we can make buying from local Canadian businesses a yearround habit. The single best way to ensure that our favourite local chocolatier, bookstore, florist, restaurant, fitness trainer, yoga studio and more continue to thrive is to make them part of our daily lives by buying goods and services from them. We can do this in-person and on-line directly from their websites (searchable in Canadian marketplaces like shoplocal.futurpreneur.ca).

Second, experienced entrepreneurs and business owners can pay it forward through mentorship Entrepreneurs who receive guidance from an experienced mentor increase their annual revenue by an average of 83% (source: Mentorcam) That’s why 89% of small business owners who don’t have a mentor wish that they did (source: Forbes)

Are you an experienced entrepreneur who would love to pay it forward by mentoring a new business owner but don’t know how or when to start? Futurpreneur is one of several organizations across Canada that makes it easy to be matched with entrepreneurs who would benefit from your experience and advice January is National Mentoring Month –so the best time is now!

I realize that many of the small business owners reading this already shop local; you are some of your fellow entrepreneurs’ best customers You already celebrate each other’s success and offer advice to help each other navigate bumps along the startup journey

It’s time for the rest of us to follow your lead, helping small businesses succeed and fostering stronger and more sustainable local economies across Canada

As we turn the page on another year, it’s a moment to reflect, refresh, and set our sights on the future

The small business landscape has been shaped by change and challenge, but one thing remains constant: the incredible ingenuity and determination of entrepreneurs like you

2025 brings with it a fresh set of opportunities to accelerate growth, improve operations, and make a lasting impact At The Answer Company, we ’ re proud to be part of your journey as your technology partner, supporting small and mediumsized businesses with the tools, insights, and expertise to navigate the year ahead

Transformation is something we experience every day alongside our clients. While most businesses face major shifts or digital transformation only a few times, our constant involvement in these processes gives us a unique perspective This allows us to share proven strategies and best practices from others in your industry who’ve successfully made the same journey Whether it’s optimizing processes, adopting new technology, or evolving business strategies, we ’ re here to help every step of the way

This year, it’s not just about overcoming challenges but embracing the changes that fuel progress

Here are a few ways we see businesses creating lasting success:

InnovationasaMindset: The businesses that stand out in 2025 are those that treat innovation as part of their DNA Whether it’s leveraging the latest technology or rethinking traditional processes, innovation fuels adaptability and keeps you competitive This year, challenge yourself to think beyond the norm, explore new ideas, and experiment with new technologies that could propel your business forward.

PurposeandPeopleFirst: Purpose-driven businesses have a unique ability to inspire loyalty, both from customers and employees 2025 offers an opportunity to double down on your mission and build deeper connections with the communities and people you serve. Focus on making a positive difference through your products, services, and the values your business embodies.

SmartEfficiencyandData-DrivenDecisions: Data is more accessible than ever, and the businesses that use it to inform decisions will be the ones who stay ahead. By streamlining operations and using insights to drive strategic moves, businesses can improve efficiencies, reduce costs, and foster continuous improvement

As we enter this new year together, let’s embrace innovation and push the boundaries of what’s possible We’re excited to see where 2025 takes us all

On behalf of The Answer Company, I wish you all a successful 2025 ahead

Shawn Ostheimer, Founder and President, The Answer Company

Shawn Ostheimer is the founder and president of The Answer Company Beginning in 1994, Shawn has spearheaded the company’s growth to become the leading Canadian Acumatica VAR Partner With a Masters in Business Administration and over thirty years of implementing financial and management software systems, Shawn has contributed to every facet of improving clients’ businesses His experience includes business analysis, system design/analysis, training, implementation, data conversion, software installation, customer support and project management

Robert Gauvreau is the founder and CEO of Gauvreau | Accounting, Tax, Law & Advisory, one of North America’s leading CPA firms supporting entrepreneurs in achieving financial clarity and minimizing tax burdens Under his leadership, Gauvreau has grown into an 8-figure business with over 100 professionals and has been recognized among Canada’s fastest-growing companies for five consecutive years by The Globe and Mail.

A sought-after expert in business finance, Robert is a regular contributor to publications like Forbes and Entrepreneur and has shared the stage with renowned speakers such as Tony Robbins, Gary Vaynerchuk, and Kevin O’Leary

He is also the bestselling author of The Wealthy Entrepreneur and is passionate about empowering entrepreneurs to achieve financial freedom and make a lasting impact.

As we welcome 2025, let’s take inspiration from the words of Zig Ziglar: "You don’t have to be great to start, but you have to start to be great " This new year presents a fresh opportunity to turn your vision into reality and take bold steps toward your goals

Success doesn’t happen by chance it requires deliberate action, thoughtful planning, and an unwavering commitment to your vision Begin this year by creating a clear and actionable roadmap for your business Whether it’s increasing revenue, expanding your reach, or improving operational efficiency, having a detailed plan will keep you focused and on track toward achieving your objectives

Equally important is building a strong financial foundation Ensure your financial records are up-todate, accurate, and reliable Financial clarity isn’t just about compliance it’s the key to making informed decisions and adapting to challenges with confidence With the right insights, you’ll be equipped to seize opportunities and navigate 2025 with certainty

This year, embrace the mindset of continuous growth Each challenge you face is an opportunity to learn, adapt, and improve Let go of any setbacks from the past, and focus on the possibilities that lie ahead Success is not a single destination but a journey, and each step brings you closer to your greatest potential.

As you set out on this journey, remember: the greatest achievements often begin with the smallest, most consistent actions Stay resilient, remain focused, and bring your energy and passion to every aspect of your work

Heres to making 2025 a year of bold strides, meaningful progress, and extraordinary accomplishments

Robert Gauvreau , Founder and CEO of Gauvreau | Accounting, Tax, Law & Advisory

For me, the start of a new year always brings a sense of renewal a chance to reflect, recalibrate, and refine how we lead. For sales leaders, this January feels especially pivotal. As we navigate a rapidly changing business landscape, our ability to combine datadriven insights with the art of human connection will define success in 2025

Having spent years as a VP of Sales, I’ve seen firsthand how the right tools and strategies can transform not just sales numbers but entire teams Sales isn’t only about closing deals; it’s about empowering people: helping reps unlock their potential, collaborating, and building trusted relationships with clients that stand the test of time This has always been the heart of great leadership

Today, we have an advantage that changes the game as sales leaders: artificial intelligence AI offers us clarity in the chaos of modern sales cycles It surfaces patterns and trends we might miss, highlights opportunities before they slip through the cracks, and can offer suggestions to keep deals moving forward More than just a tool, AI in 2025 will act as an embedded colleague that enhances productivity and decision-making It doesn't replace the human touch but works alongside you and your team, offering insights, organizing data, and automating routine tasks. I find its greatest value lies in how it enables leaders to focus on what truly matters people.

When AI automates routine tasks or captures data accurately, it frees up time for sales leaders to do what only they can: coach their teams, motivate with purpose, and deepen client trust It’s not about replacing intuition but amplifying it with insights we couldn’t access before It’s not about spamming more people with generic messaging, it’s about delivering more personalized communication It’s about giving back time, so we can spend more of it on building strong connections with our teams and our clients

As we begin this new year, I encourage every sales leader to ask themselves: How can we leverage technology to build stronger teams and deeper relationships? Because in 2025, it won’t just be the numbers that set us apart, it will be the leadership we inspire Here’s to a year of fresh opportunities and transformative growth.

An enterprising executive with 20 years of sales leadership experience including Sony, Ericsson, Two Hat Security, and Vadim Software Mike serves as the President of Maximizer, an AI-driven CRM platform designed for fast deployment. More than just a tool for sales teams, it empowers sales leaders overseeing teams to drive growth and retention through actionable intelligence.

Mike Curliss, President, Maximizer

YourAdvantageswithADP: Energy,Passion&aCultureofCare

Mohamed Basma leads the Small Business Services division for ADP Canada and oversees the complete client journey from implementation to Service. Mohamed’s mission is to make sure our Small Business Clients are satisfied and successful with their HR and payroll management solutions

Mohamed joined ADP in 2018 as Vice President of Service Strategy and Operations and held multiple roles including leading the Outsourcing Service Organization and then leading Service Delivery for our Small Business, mid-market, up-market and nationals segments

Mohamed lives with his family in Toronto, ON He is a passionate cyclist and participates in cycling events to create awareness such as the “Ride to Conquer Cancer” from Toronto to Niagara, and “Cycle for the Cause, the NorthEast AIDS Ride” from Boston to New York.

To the small business leaders of Canada, thank you for continuing to power our economy and our everyday lives I hope this message finds you in good health and that you can look back at 2024 as a year of meaningful innovation and growth for your business and your customers

To amplify that innovation and growth heading into 2025, I’d like to recap three advantages that I see so clearly radiate through the ADP Canada small business clients I speak to on a daily basis

Energy Small businesses bring an unmatched, unflappable energy to the business every single day It’s infectious Employees feel it, partners feel it, customers feel it It cultivates motivation and loyalty Continuing to fuel your small business with this energy day in, day out will put your business on a path to unfettered growth.

Passion. What makes small businesses special is the team’s shared passion for the product and mission. There was a problem that you wanted to solve, perhaps stemming from a personal experience. When it’s in the foundation, passion can build great things. Never forget why you started your small business. Consider it in every decision you make.

Mohamed Basma, General Manager Small Business Services, ADP Canada

A Culture of Care. Small businesses win in the margins Each heard Solutions are designed through listening n to detail is obvious This is all driven by your and understanding of the problems your small s is solving for Keep a culture of care at the center mall business and customers will notice

values above in the small businesses I talk with, but here at ADP Canada as well

ted as a small business in 1949 75 years later, our aven’t changed We continue to champion small es. When you partner with ADP Canada, you get a who cares. Were here to listen. To support your very step of the way

f this, ADP Canada can support your business in h some of our unique advantages Our unmatched r global experience and expertise Our technology that can scale with your business

In 2025, lean into your advantages and find new ones to drive growth I wish you a healthy and prosperous new year both personally and professionally

Harry Singh, Managing Partner & President, Ayming Canada

Harry Singh is a dynamic leader with over 15 years of experience in driving strategic growth, building highperformance teams, and delivering transformative results across diverse industries As the Managing Partner and President of Ayming Canada, Harry brings his deep expertise in government funding solutions including grants, SR&ED tax credits, and cost optimization strategies to help businesses unlock their full potential.

From leading global organizations to supporting small and mid-sized enterprises, Harry has a proven track record of enhancing revenue, expanding market share, and elevating brand reputation His passion lies in empowering businesses to innovate, grow, and achieve sustainable success.

KickOff2025with InnovationandGrowth:

As we enter 2025, I want to take this opportunity to speak directly to you the small business owners who are the backbone of Canada’s economy Over the years, I’ve had the privilege of working alongside countless entrepreneurs, witnessing firsthand your resilience, creativity, and the profound impact you have on the communities we all call home

The start of a new year brings fresh opportunities, but I recognize that it also presents challenges Whether youre setting ambitious goals, strategizing for growth, or navigating the ever-evolving business landscape, the demands can be immense The good news? You don’t have to face them alone Canada is home to a range of government funding programs designed to help businesses like yours thrive From grants and tax credits to other financial incentives, these resources are more than just a boost to your bottom line they’re a gateway to innovation and growth Whether your aspirations involve hiring top talent, investing in R&D, pursuing sustainability, or scaling operations, these programs are here to support your vision.

Yet, these opportunities often remain untapped. Many business owners are either unaware of what’s available or are deterred by the perceived complexity of the process. Let me assure you: this funding exists for you. It’s a powerful tool to help small businesses think big, take bold steps, and drive transformative innovation.

Over the years, I’ve seen how accessing government funding can be a game-changer. I’ve witnessed businesses turn bold ideas into groundbreaking projects, expand their teams, and even compete on a global scale. What inspires me most is seeing how these resources enable small business owners to focus on their passion creating, innovating, and making a lasting impact.

As you step into 2025, I encourage you to explore these possibilities Take the time to identify funding programs that align with your goals Commit to investing in your innovation and growth This could be the year you push boundaries, seize new opportunities, and achieve the success you ’ ve worked tirelessly toward

Here’s to a year of innovation, growth, and prosperity! Warm regards,

Véronique Dorval brings an impressive 24year career as a strategic business leader with a track record for driving growth, delivering ambitious transformations and creating client-focused digitally enabled operating models

As Executive Vice President and Chief Operating Officer at BDC, Véronique oversees the Financing, Growth & Transition Capital, and Advisory Services business lines, ensuring BDC’s solutions are integrated, effective and efficient for maximum impact on Canadian business owners

Véronique is strongly involved in the development of women in the workplace and in her community She actively contributes to the FitSpirit non-profit organization Previously, she was a member of the Board of Directors of Les Grands Ballets Canadiens (2013-2023) and a member of the Advisory Board of Heads & Hands (2013-2016) Since June 2022, she has been a member of the Board of Directors of Eugeria She also joined the Conference Board of Canada’s board of directors in November 2024.

On behalf of everyone at the Business Development Bank of Canada (BDC), I extend my best wishes for a successful and fulfilling 2025 to each of you

Small and medium-sized enterprises (SMEs) like yours are the heartbeat of the Canadian economy You create jobs, provide goods and services, and drive growth in our communities This year, your entrepreneurial spirit, determination, and commitment will be crucial as we overcome economic challenges together and capture opportunities

We are all familiar with the headlines declining productivity, slowing GDP growth, and fewer new entrepreneurs But there are also bright spots, initiatives to bring you new financing and support options as you build and grow your businesses

As Canada’s only bank devoted exclusively to entrepreneurs, we can help in multiple ways by listening, advising and providing flexible, committed and patient financing, just as we have been doing for the past 80 years

We also recently launched an innovative Community Banking initiative By partnering with 80 community organizations across the country, we aim to reach 100,000 more entrepreneurs and contribute to increasing the number of active small businesses by 10% over the next decade

We can accelerate the pace in securing financing for more entrepreneurs to foster their growth We cannot afford to let any potential go untapped having more productive businesses is one of the best answers to Canadas economic challenges

Speaking of untapped potential, across the many entrepreneurs I met throughout the past year, I see more business owners recognizing the importance of technology Adopting technologies is no longer a nice-to-have it’s mandatory. That’s why we launched our new Data to AI Program Think of it as a roadmap to integrating AI in your business and enhancing productivity I believe that all small businesses should benefit from the power of AI

I am excited to see what all of you Canada’s entrepreneurial dreamers and doers will achieve in 2025 And I am confident that, together, we will make a significant impact on our communities and our economy

Happy New Year!

Véronique Dorval, Executive Vice President and Chief Operating Officer, BDC

As we step into 2025, it’s important to remember that every small business started as an idea and a brave choice to take a risk. The small business community is the lifeblood of the Canadian economy, and I believe that this year is going to foster even more innovation, collaboration, and growth for the sector as a whole

Canada’s small businesses faced many obstacles this year, including record-high inflation, unexpected supply chain disruptions, and historic labour force challenges And, despite back-toback interest rate cuts, we know that the impact of the Bank of Canada’s rate decisions has yet to flow through the economy and meaningfully deliver for many of Canada’s small businesses

All that said, Canadian business owners have continued to show up as unwavering leaders, championing innovation and a tenacious spirit Now, at the onset of a new year once again, the potential on the horizon for Canada’s small business economy is palpable Of course, new challenges are to be expected, but I am confident that Canadian entrepreneurs have more than enough grit and resilience to continue to succeed and make a difference

Looking ahead, I’m optimistic about the small business outlook for 2025 for many reasons, including the proliferation of AI for small businesses and their advisors, the collective aim to make open banking a reality, and the beautiful businesses themselves, as they continue to go against the grain to solve problems by offering new products and services.

At Xero, we ’ re excited to support even more Canadian entrepreneurs on their small business journeys this year We encourage current owners and operators to remember why they embarked on this journey in the first place, to continue learning, building their teams and leaning on advisors, and to get serious about digital adoption For the people who open businesses this year, take advantage of the position you ’ re in Register your business early, make sure you ’ re up to speed from a financial management perspective, find an advisor, and set up your operations now so your first tax season is a breeze Most important of all, don’t forget to celebrate your wins no matter how big or small

Ashalee Mohamed, Head of Canada, Sales & GTM, Xero

Ashalee Mohamed is a senior business leader with over 18 years of experience driving growth and leading high-performance teams across a variety of industries As the Head of Canada, Sales & Go-To-Market (GTM) at Xero, Ashalee leads the Canadian GTM team, focusing on accelerating revenue growth and delivering operational excellence Throughout her career, Ashalee has demonstrated a unique ability to build cultures of high performance, deliver results, and navigate diverse sectors Her experience spans PR communications, media, travel and tourism, insurance, legal services, private investigations, and investor relations. Ashalee’s previous leadership roles at Cision, Adventure Canada, and Investigative Research Group showcased her talent for driving transformative business strategies and fostering growth at scale Beyond her professional expertise, Ashalee is an advocate for small businesses, recognizing their essential role in shaping the Canadian economy She is passionate about helping these businesses succeed by providing the tools, resources, and guidance they need to grow and innovate

Small business owners are truly the foundation of Canada’s economy, and franchising plays a large role in making entrepreneurship a reality for tens of thousands of Canadians from coast to coast to coast

Over the course of 2024, we have seen some upheaval within the industry due to strikes, both potential and ongoing, that have disrupted the supply chain and impacted franchised businesses across the country, as well as economic fluctuations that have affected inflation and the bank accounts of Canadians everywhere Still, we have persevered: in 2024, franchising was named the 12th largest industry in Canada, beating other powerhouses such as warehousing and nearly surpassing mining, and the number of independently owned franchise locations continues to grow year-over-year It’s data like this that proves franchising is a tangible, attainable way for Canadians to be in business for themselves but not by themselves, with the added “ wow ” factor of a recognizable brand name that will help push small business owners to success

The franchise industry is as multifaceted as the Canadian population, welcoming owners from all walks of life and backgrounds, and representing a wide swath of sectors in fact, members of the Canadian Franchise Association (CFA) fall under more than 60 different categories! Though quick service restaurants will continue to be a popular sector, this is a great reminder that no matter your interests, or investment level, franchising offers a viable path to financial independence

As we embark on a new year, it’s the perfect time for Canadians to consider where they see themselves in the future The CFA’s “Look for the Logo” program, wherein our members proudly display their membership via the CFA Member logo, can help prospective franchisees easily determine which franchise brands adhere to our Code of Ethics and are therefore committed to exceptional franchisorfranchisee relationships. Being a part of a franchise system provides thousands of Canadians with the stability and knowledge to reach levels they never dreamed of on their own In 2025 and beyond, the CFA will continue to promote the benefits that this important (and growing) industry offers companies, individuals, and the country at large

Sherry McNeil, President & CEO, Canadian Franchise Association (CFA)

As President and CEO, Sherry McNeil is responsible for the management of the Association, the leadership of its staff, and providing strategic advice to the Board of the Directors A veteran of the industry with over 20 years’ experience helping franchisors and franchisees grow and thrive, she has worked with a wide range of franchise systems in a variety of categories, from new and emerging concepts to iconic Canadian franchise brands like Dairy Queen, Boston Pizza, Little Caesars, and Yum! Brands as both a consultant and in executive leadership roles.

Welcome to 2025 a year of possibility and transformation. If 2024 was the start of the age of AI, 2025 is the roaring wave cresting before us, carrying endless opportunities for small businesses to rewrite the rules of success

Last year, we witnessed a new chapter unfold in shaping the future of the Canadian economy

Generative AI empowered businesses to think faster, act smarter, and connect more deeply with their customers From automating routine tasks to uncovering patterns buried in mountains of data, these technologies became the quiet engines powering growth and ingenuity Small businesses, often underestimated, stepped forward as bold adopters and creative innovators, proving that agility beats scale in this evolving working world

Now, as we move into 2025, the opportunities are endless AI isn’t just a tool it’s your copilot

Imagine brainstorming with a digital partner that never tires, analyzes markets, and can craft customized campaigns. This reality isn’t far off the tools are already in your hands

But every cresting wave has its undercurrents The stakes for data security, privacy, and trust have never been higher. In this digital gold rush, safeguarding your customers’ information isn’t just a responsibility; it’s imperative As regulations continue to evolve, we must think deeply about how we innovate responsibly Transparency and ethics will help navigate these uncharted waters

Heres the truth: small businesses are no longer the underdogs You are the explorers charting AI’s untapped frontier, the dreamers turning what-ifs into what's-next Together, we ’ re excited to build a world where boundaries blur, where scale isn’t a barrier, and where creativity has no ceiling

The canvas of 2025 is blank, and the brush is in your hands Paint with ambition, colour outside the lines, and seize this moment to craft a story of resilience, growth, and innovation The wave is here Ride it with courage and vision because the future belongs to embrace AI

Heres to a year of boundless opportunity and transformative growth. Together, let’s make it one for great innovation to change the way we approach work.

Kree Govender, SMB Area Lead at Microsoft Canada

At the helm of Microsoft's Canadian SMB division, Kree’s focus is on propelling growth through cloud innovation With a strategic mindset honed over several roles, he has cultivated a robust approach to sales excellence, fostering a culture of performance and ethical leadership The team is committed to amplifying the digital transformation of Microsoft’s customers and partners and empowering every organization to achieve more.

The economic landscape is shifting: evolving trade conditions, markets fluctuations, and policy changes are creating new challenges across Canada For small business owners, entrepreneurs, and enterprise leaders, thriving in this environment means taking bold steps to adopt solutions like AI, robotics, and automation, streamline processes, and expand into untapped arenas It’s the perfect moment to embrace creativity and explore fresh approaches for sustainable growth. In 2025, businesses should consider leveraging advanced technologies to enhance productivity, upskilling teams to stay competitive, and seeking partnerships that open doors to new ideas and markets

As Canada’s innovation organization, Mitacs provides small and medium enterprises with the resources they need to succeed From digital technology and artificial intelligence to energy and advanced manufacturing, we offer tailored support across a wide range of sectors For over 25 years, our unique model of fostering strategic partnerships between industry and academia by funding advanced degree internships has delivered research knowledge and top talent directly to Canadian enterprises, successfully driving SME innovation across the country

Since 2018, Mitacs has invested over $1 2B in innovation, partnering with over 12,000 enterprises to bring 31,000+ projects to life The results speak for themselves: Mitacs-supported companies experience an average increase of nine percent in total revenue and 16 percent in sales by the third year of partnering with us Our partners also report an 11 percent boost in productivity well above the national average of 0.8 percent. These outcomes are driven by collaborations that align business needs with academic expertise, creating tangible value for Canadian enterprises

At Mitacs, we embrace your business challenges, and work alongside you to integrate ROI into your R&D strategy Whether your focus this year includes developing new products, modernizing processes, leveraging data for better decision-making, or improving operational efficiency, we connect you with the right expertise and resources to turn your goals into reality No matter your ambition, Mitacs is here to help

Make 2025 the year you take advantage of resources and expertise that have already helped thousands of businesses across Canada innovate and succeed

Dr. Stephen Lucas, CEO at Mitacs

Dr Stephen Lucas is CEO at Mitacs An accomplished leader, Dr. Lucas was a public servant with the Government of Canada for over 35 years From 20192024, he served as Deputy Minister of Health Canada

Chandrashekar LSP, Managing Director, Zoho Canada

Chandrashekar (LSP), Zoho Canada’s managing director, is committed to creating and spreading awareness of Zoho He cut his teeth in the software domain with the WebNMS division of Zoho and has journeyed with the company at its crucial pivot points LSP is based out of Cornwall, Ontario and holds a masters degree in information systems and applications

we start a new year, the resilience and optimism of Canadian repreneurs and businesses continue to inspire You've naged economic challenges, adopted new technology, and apted to workplace and workforce disruptions with poise to the job done

king ahead, I see complexities Productivity demands, olving market conditions, and potential shifts in trade policies, luding higher tariffs, are just a few of the challenges to vigate In addition, the rise of artificial intelligence (AI) uires a focused understanding and strategic integration her than viewing these hurdles as setbacks, I hope you will e them as opportunities to refine strategies, streamline cesses, and grow stronger

in particular, presents a significant opportunity Much has en written about how AI can enhance efficiency and unlock w avenues for innovation. However, as is always the case with hnology, a human touch will ensure that AI's potential benefits align with business goals The combination of tech automation with human creativity and insights, for instance, will help differentiate businesses, enabling smarter decision-making and tailored customer solutions

By understanding the potential and limits of this transformative technology, businesses can position themselves to lead, and not follow, in a rapidly changing landscape Also important is the need for investments in training programs to equip employees with the skills to work with new technologies

The road ahead is one of transformation and opportunity, and with dedication, drive, and teamwork, you can succeed no matter what the challenge Remember that your diverse and thriving Canadian business community can be a resource via industry groups, associations, trade publications, vendors, and mentors

Continue to celebrate your victories and learn from your mistakes. Your hard work and commitment will build a future defined by resilience, innovation, and success. I am confident that the road ahead is filled with countless opportunities.

Exciting Innovative Challenging Thrilling Inspiring Dynamic Collaborative Transformative So many adjectives to describe our experiences in 2024 and our expectations for 2025

Women’s Enterprise Organizations of Canada (WEOC) is privileged to be part of an ecosystem that is committed to helping women-owned businesses grow and thrive While there is always more work to do, the start of a new year is a time to look back and take stock of what has been accomplished

At the top of our 2024 List of Highlights is the WEOC National Loan Program With funding from the Government of Canada’s Women Entrepreneurship Strategy, our goal was to make financing more accessible for women entrepreneurs.

Taking a holistic view of the business and the entrepreneur, not just reviewing credit score and collateral, are the first steps in creating systemic change in lending processes As an administrator of the Loan Fund, WEOC is committed to breaking down barriers that prevent women from accessing the capital needed to start and grow their businesses

Our network of expert advisors across Canada provide innovative business programs and resources, including training, advising and mentorship to support clients through the life of her business They have long recognized that a ‘one-size fits all’ approach to providing business support is an antiquated model that doesn’t address the myriad needs, experiences, and circumstances of women entrepreneurs

Since WEOC disbursed its first loan in November 2022, we have provided more than 300 women entrepreneurs with over $13 million in financing Our ‘secret sauce ’ is meeting the entrepreneur where she is This is often a multi-step

Alison Kirkland, CEO, Women’s Enterprise Organizations of Canada

A leader in the women’s entrepreneurial ecosystem, Alison was named WEOC’s inaugural CEO in 2019 Since then, she has guided WEOC’s growth from Board-run initiative to integral resource within the women’s entrepreneurial ecosystem A longtime advocate for increased access to capital for women entrepreneurs, Alison oversees the $30 million WEOC National Loan Program, which was announced by the Government of Canada in 2022. Working closely with national loan fund partners, the program supports entrepreneurs as they start and grow their businesses, offering funding alongside crucial wraparound services

By Erin Shea, VistaPrint, Senior Director of North America Marketing at VistaPrint

As we dive into 2025, one thing is clear: small business marketing is all about connection Emerging influencer marketing tactics, cross-industry collaboration and DIY design tools have all made it easier than ever for small business owners to engage with customers authentically

Here’s how your business can take advantage of a few 2025 marketing trends, picked by a global community of creatives who work with small businesses every year through VistaPrint

Relatability IsTheNewInfluence

Your social media content doesn’t need to be picture-perfect In fact, prioritizing content from brand advocates who relate to your customers can have a major impact

Think about the story that built your brand and then give authentic ambassadors the room to bring those traits to life. This approach will ensure your message resonates with audiences, fostering brand loyalty

And don’t forget about those who know your brand best: your employees Peel back the curtain with behind-thescenes content and team member spotlights that give customers an inside look into your business

TeamUp!

In 2025, colla are plenty of create somet Breweries and opportunities

Once youve f business, exp authentic, one bonus? The o merchandise going long af

Two, after all,

EmpoweredDIYDesign

You don’t need design experience (or a full creative team) to leave a lasting impression A growing number of graphic design tools let you tackle essential branding tasks quickly and effectively, like designing a logo or creating social media graphics

But this trend isnt just about digital assets. Physical DIY elements like stickers and stamps bring a hands-on feel to packaging and marketing materials, adding authenticity and personality

Connection matters, and there are several ways to build it I hope these trends inspire you to strengthen existing customer relationships and forge new ones in the new year

Erin Shea is Senior Director, North America Marketing at VistaPrint, the marketing and design partner to small businesses

As small to mid-sized businesses (SMBs) gear up for growth, establishing a solid data and information management strategy is key Information comes in two flavors: structured and unstructured Structured information is neatly organized, labeled, in database-friendly formats and easy to use While unstructured information like emails, paper, digital documents, audio, and video files make up a whopping 80% of a business's data and is more challenging to handle

SMBs often rely on multiple systems and applications, typically between five and ten, to manage their operations These systems handle crucial data related to customer relationship management, employee management, supplier coordination, order management, project management, customer service, and support management However, this structured and unstructured information frequently becomes siloed, leading to process bottlenecks and a lack of comprehensive visibility

In this AI-driven era, having a handle on both types of information is essential for reaping its benefits At Xerox, were stepping in to help SMBs bring order to unstructured data and seamlessly connect disparate systems to turbocharge workflow automation and information management

Our three-step approach tackles the challenge head-on:

DigitizePaperArchives: Turn dusty paper files stored on-site or off-site into digital gold through Xerox Digitization Services

CreateaCentralizedSecureFoundationforUnstructuredInformation: Centralize your digital files into an organized format that complies with your information management and security policies leveraging Xerox Content Management. Seamless secure access from a web based experience or through your organization’s applications for a 360-degree view to both structured and unstructured information in seconds

TransformandAutomateManualProcesses: Turn-on Xerox Workflow Automation and AI to transform manual high touch processes (ie order processing, invoice processing, HR onboarding, contract management, etc) transacting between disparate systems and move towards “digital and touchless” processing

It’s time to act now Let Xerox help you develop your roadmap for better information management to unlock benefits such as operational cost reduction, efficiency gains, enhanced information security, and top-notch experiences for customers, employees, and suppliers

Don't let data and information management become a growing pain Tackle it head-on and set your business up for future success!

Mohan Mailvaganam, National Vice President, Digital Services and Workflow Automation Practice

As a leader with over 25+ years of in-field experience in Information Management and Business Process Automation, Mohan brings a wealth of experience and expertise in areas such as digitization, enterprise content management, workflow automation and AI, and business process outsourcing. During his 25+ year career at Xerox, he has undertaken diverse roles within the organization over the years all aligned with the shared goal of helping businesses of all sizes move to a digital way of working

In his current role as the Canadian Practice Leader, his team is focused on helping businesses leverage leading-edge information management and AI technology and managed services complemented with industry best practices to transform front, mid and back-office processes The priority is on helping organizations become less reliant on paper and drive towards “touchless” processing

Sarah Burrows, Assistant professor of entrepreneurship, Queen’s University, Smith School of Business

Dr Sarah Burrows is a professor of entrepreneurship at Smith School of Business at Queen's University. Her research interests are in the area of entrepreneurship and family business She focuses on leveraging her background in psychology to understand how family dynamics influence the management of the firm and entrepreneurship across generations She is also passionate about raising awareness about entrepreneurial ill-being, while finding ways to foster greater well-being outcomes among entrepreneurs and their families

November and December are a blur – long days spent preparing and fulfilling holiday orders, finding solutions for unforeseen circumstances and keeping employee morale up, all while trying to find time to enjoy the holidays with loved ones And, in a blink of an eye, it’s suddenly January Sound familiar?

There are 1 3 million small businesses in Canada As the owners of those businesses, you employ approximately one-quarter of our population You are the backbone of our economy, which is why I would like to take this time to thank you for all that you do for our communities In my conversations with entrepreneurs and their families, lack of time and the struggle to balance work and life are often brought up. There are so many demands placed on you as business owners that sometimes you may feel like there is no choice but to keep hustling In academia this is known as the recovery paradox; those that need to rest and restore their resources most are often the ones who aren’t able to

Depending on the situation, January can be a quiet time for small business owners While it might be tempting to maintain the grind, my advice is to spend some time investing and replenishing yourself in the following ways:

Rest. Take time to disconnect from work, connect with others and do things that you love This might involve spending time with friends and family, enjoying some time in nature (even if it’s cold out), or listening to a few mindfulness podcasts.

Reappraise. Adopt a growth mindset approach and appraise difficult situations as challenges that can be overcome Don’t fall into the hustle trap – we all need time to recharge our batteries

Routine. Develop routines that make time for your personal and business life. Research shows that getting sufficient sleep, exercise and mental breaks are crucial to the entrepreneurial process

By investing in yourself, you are investing in your business This New Year, I wish you and your families health, happiness and harmony

As we enter 2025, let me remind you: this is your year The year you step into everything you ’ ve been working for, everything you ’ ve been preparing yourself to achieve You’ve fought through challenges, adapted to change, and kept moving forward when it felt impossible. That wasn’t random it was building you for this moment.

Being a small business owner or entrepreneur in Canada isn’t easy You’re navigating an economy that’s always shifting, meeting the needs of your customers, and managing the demands of your business all while trying to live a balanced life But let me tell you something: pressure doesn’t break champions, it builds them And you? You’re a champion in the making

2025 is the year you stop letting fear or doubt hold you back This is the year you take that next big step Maybe it’s launching a new product, expanding your team, or doubling down on a bold vision you ’ ve been hesitant to chase Whatever it is, it’s time to act The dreams you have aren’t random they’re placed within you for a reason

Ask yourself this: Who do I want to be by the end of this year? What legacy do I want to start building in 2025? The answers to those questions will guide you Set your goals, map your vision, and take action every single day. Not perfect action just progress.

Remember, small businesses are the backbone of Canada You’re not just running a business you ’ re creating jobs, serving communities, and inspiring others to believe in what’s possible Your success has a ripple effect, and it matters

The challenges of 2024 were just training ground 2025 is your breakthrough Lean into the hard work, embrace the opportunities, and most importantly, stay relentless

This is your year Your moment Your time to prove to yourself and the world what youre capable of Now go out there and make 2025 unforgettable Let’s get after it!

Your friend, Chris

Peebles

Chris Peebles is an energetic and driven leader, serving as the Director of Thryv Canada, a leading software company revolutionizing how small businesses operate With a passion for innovation and a proven track record of success, Chris is committed to empowering entrepreneurs and driving meaningful growth

Before joining Thryv, Chris was Vice President at Salumatics, where he led strategic initiatives to enhance organizational performance and scalability.

Earlier in his career, he co-founded a craft brewery that achieved remarkable success, featured in over 1,000+ locations across Canada This venture, which resulted in a successful acquisition, showcased Chris’s ability to build and scale businesses from the ground up

Known for his dynamic energy, entrepreneurial mindset, and ability to inspire teams, Chris is dedicated to helping Canadian businesses succeed in an ever-changing marketplace.

His leadership continues to make a significant impact across the organizations and communities he serves

Chris Peebles, Director, Thryv Canada

The importance of small-to-medium enterprises (SMEs) on Canadas economy cannot be understated In fact, 99 8 per cent of all Canadian businesses are SMEs and around 50 per cent of Canada’s GDP is generated by SMEs

For SMEs to not only maintain but strengthen their economic power, they must embrace the technological force transforming the global economy: generative AI

According to our recent report with Accenture, generative AI is expected to save Canadian workers up to 125 hours a year, boosting productivity by 8 per cent and adding $187 billion annually to the economy by 2030

For SMEs, this translates to an economic value of up to $100 billion per year by 2030 $70 billion from small businesses and $30 billion from medium-sized enterprises Driving this economic value are the day-today benefits generative AI offers SMEs, such as increased operational efficiency, improved sales and marketing, and stronger customer and employee retention

However, small businesses are concerned about their ability to retain a strong cybersecurity posture through their digital transformation and nearly half emphasize the challenge of upskilling talent to utilize the tools effectively These findings point to a need for further education and support to help small businesses navigate the AI transformation

To do so, SMEs must prioritize investing in technology upskilling by embracing AI-powered educational tools These tools are more accessible than traditional learning programs, streamline administrative tasks, and offer personalized learning pathways, making skill development easier for everyone

Microsoft is committed to supporting SMEs in their efforts to upskill their employees in generative AI As part of our national AI skilling initiative, we are working with the Information and Communications Technology Council (ICTC) to execute customized generative AI training for small and mediumsized business leaders, board members, and other senior professionals from coast to coast All Canadians can unlock new opportunities with AI skills that are in demand for free with our AI Skills Navigator

Generative AI is transforming the economy, and SMEs must continue to upskill and reskill their teams to stay competitive. Investing in AI-driven learning will create a resilient workforce, future-proofing employees and operations for long-term success

John Weigelt, National Technology Officer at Microsoft Canada

John Weigelt leads Microsoft Canada’s strategic policy and technology efforts. He helps individuals and organizations across Canada innovate with technology while avoiding the unintended consequences that might arise

John has contributed to many technological efforts that established the foundation for the electronic services we take for granted today and he continues to lead efforts to evolve technology standards and policy His extensive experience in technology, business and policy provides him with

unique perspective of our technology enabled economy.

When he’s not thinking about what’s next in technology, you’ll either find John tending his bees, boiling maple syrup or brewing cider at his home or travelling the globe in search of his next culinary adventure

For Canadian entrepreneurs, 2025 is a chance to focus on what really matters our communities, our teams, and the opportunities we create for others Running a business is about more than turning a profit; it’s about offering jobs, supporting local economies, and helping shape the next generation of leaders Every position we fill is a chance to give someone meaningful experience, whether it’s a first job or a new career path By providing mentorship and real-world skills, we ’ re helping the next generation learn, grow, and contribute to society in meaningful ways

Staying local is also key Supporting Canadian products and services strengthens our economy and keeps our communities resilient. Its easy to get pulled into global trends, but there’s real value in focusing on whats around us local talent, local suppliers, and the unique needs of our own neighbourhoods

Of course, things are always changing New technology, shifting markets, and evolving customer expectations mean we have to stay flexible and open to new ideas Growth doesnt mean abandoning what we stand for it means finding ways to adapt while staying true to our values

As we move into 2025, let’s keep our focus on building businesses that make a difference Create spaces where employees feel valued, where customers know they matter, and where communities see the positive impact we ’ re making

This year is full of potential. Let’s take it one step at a time, stay grounded in what makes our businesses unique, and keep working toward something bigger than ourselves Here’s to a successful 2025!

Melissa McGarvey, Vice President of Aquatics at British Swim School

Melissa, serving as the Vice President of Aquatics, leads a dedicated team in delivering comprehensive training and resources within the aquatics realm Collaborating closely with her team, Melissa ensures that both new and existing owners adhere to the high standards of the aquatics program, embodying the distinctive “BSS” approach

Passionate about water safety, Melissa actively collaborates with industry leaders to prioritize safety, with a specific focus on drowning prevention and fostering secure communities. Her commitment to aquatic safety extends to her roles as a Board Member of the United States Swim School Association, an Executive member of the Aquatics Coalition, and an Advisory Council member for water safety at the National Drowning Prevention Alliance.

Before her role at British Swim School, Melissa gained valuable experience as the Childcare and Pool Operations Manager for Canada’s largest fitness club In this position, she honed her skills in customer service, leadership, and child development. Currently residing in London, Ontario, Canada, Melissa shares her life with her husband and their two Miniature Schnauzers, Theodore and Angus

Dr Tajinder (Taj) Manku, a visionary entrepreneur and wireless technology innovator, has left an indelible mark on the technology sector With a Bachelor's in Physics and a PhD in Electrical Engineering (focused on Condensed Matter physics,) Dr Manku’s academic excellence lays the foundation for his entrepreneurial prowess Founding companies like Pravala, Sirific, and Tag-Comm before 40, Dr Manku ' s strategic leadership steered Sirific Wireless to pioneering a cellular chip with multiple antennas, later acquired by Nvidia for nearly $500 million.

In 2014, Dr Manku co-founded Cognitive Systems Corp, where, as CEO, he revolutionized homes by incorporating motion sensing into WiFi networks. This breakthrough has garnered over 150 patents and 100 technical papers, along with accolades such as the Canadian Award for Research Excellence and recognition as one of CIO Review's 10 Most Promising Wireless Technology Solution Providers. Dr. Manku ' s relentless pursuit of excellence and innovation propels Cognitive Systems Corp to the forefront of the industry, setting standards for WiFi Motion integration and solidifying its position as a technology leader.

As we step into 2025, the rapid evolution of communications technology offers valuable lessons for small business owners

Consider Wi-Fi a technology we ’ ve relied on for decades to connect to the internet It has now transformed into something far more dynamic with Wi-Fi Sensing, a groundbreaking innovation that uses wireless signals to detect motion This isn’t just an upgrade It’s a redefinition of what’s possible, proving that even the most familiar technologies can be reinvented when viewed through a fresh lens

Bringing new ideas to life is never easy, especially when the goal is to transform a technology that’s central to how we live and work Success requires not just technical expertise but also the ability to shift perspectives and inspire others to see possibilities they hadn’t considered before In my experience, developing something transformative is just the beginning Equally critical is the task of clearly communicating its value, bridging the gap between innovation and understanding. This process requires persistence, clarity, and an unwavering focus on addressing real-world problems.

The lesson for small business leaders is clear: success isn’t just about the idea itself It’s about the ability to challenge assumptions, adapt to evolving landscapes, and articulate a vision that resonates with others In a world that never stands still, thriving businesses are those that see opportunities where others see obstacles and chart new paths when no roadmap exists Patience, adaptability, and resilience are essential for navigating this uncertainty True progress often comes from trusting the unseen potential of your efforts and understanding that the impact of your work may only be fully realized over time Embracing ambiguity with persistence and conviction is how bold ideas become transformative success stories

Looking ahead, I believe the future holds even more potential for reinvention Smarter systems, greater connectivity, and entirely new capabilities are on the horizon, driven by those bold enough to question the status quo For small businesses, this is a call to embrace change not as a threat but as an opportunity to lead

Dr.

Tajinder (Taj) Manku, Founder and CEO of Cognitive Systems Corp.

Small- and medium-sized enterprises (SMEs) aren’t just the backbone of Canada’s economy; they shape its future Statistics Canada reports that SMEs account for 98 per cent of all employer businesses and employ nearly two-thirds of the workforce, driving innovation, job creation, and community growth Yet, as inflation rises, supply chain disruptions increase, and competition intensifies, these businesses face mounting challenges

While many SMEs focus on operational efficiency or innovation to tackle these challenges, one surprising avenue remains under-utilized: strategic travel management

For growth-focused businesses, travel isn’t optional; it’s essential Deals are sealed in person, trust is built both within and across borders, and opportunities emerge in conference rooms and at working lunches Research from McKinsey Insights found that organizations with robust travel programs are 30 per cent more likely to achieve broader business goals, from revenue growth and market expansion to strengthened partnerships

Travel, however, comes with challenges A recent Corporate Traveller study conducted by YouGov revealed that 70 per cent of Canadian business travellers experience disruptions, and 91 per cent say these issues directly hurt their business Missed flights, delays, and cancellations cost SMEs time, money, and client trust This reinforces the importance of strategies to mitigate inefficiencies

Approaching business travel strategically transforms how companies manage its impact Organizations that look to outsource the management of their trips effectively often find opportunities to reduce costs Data shows businesses with tailored travel policies and efficient booking tools saw savings of up to 15 per cent, freeing resources for reinvestment With realtime support, companies also reclaimed thousands of hours in productivity

The value of strategic travel management extends beyond reducing costs It helps streamline operations, improve traveller health and wellbeing experiences, and enables SMEs to focus on employee retention and business growth; both domestically and internationally

Chris Lynes, Managing Director of Flight Centre Travel Group Canada

Projections from the Globe Business Travel Association indicate a 15 per cent growth in Canadian travel by 2025, making it an essential consideration for businesses. For SMEs, reevaluating travel’s role can turn challenges into opportunities By planning efficiently and aligning travel with long-term goals, SMEs can use it as a catalyst for resilience, growth, and stronger partnerships

Stephen P. Smith, Founder and CEO of HOTWORX

Success is built over time, through effort and persistence While you ’ re striving to scale your business and strengthen your company ' s foundation, remember that the effort you invest today determines the results you’ll see tomorrow. Entrepreneurship and fitness have a lot in common both require discipline, consistency, and the ability to adapt to challenges As we embark on the New Year, remember to be goal-oriented and deadline driven and you will see progress

Stephen P Smith is the Founder of Planet Beach and HOTWORX® He has served as Chief Executive Officer and Chairman of the Board of Directors since April 1996 He received a BA in Political Science from the University of Mississippi, a Masters in Organizational Management from the University of Phoenix, and the Distinguished Certified Franchise Executive Designation from the International Franchise Association for his work and study in the Franchise industry He has received his Personal Training certification through AFAA and Suspension Training certification through TRX among other fitness training certifications. His background as an athlete includes college football and Arena Football as well as numerous bodybuilding titles including NPC National Collegiate Champion

Mr Smith has an extensive business background, which includes being an entrepreneur since 1986 He opened and operated Bodyplex Fitness Center from 1986 through 1989, Bay Street Tanning Boutique from 1988 through 1989, and was a licensee of three Gold’s Gym locations from 1989 through 1995. Mr. Smith also opened the original Planet Beach location in New Orleans, Louisiana in 1995, and he still owns this store today. In 1996, Mr. Smith founded Planet Beach Franchising Corporation and began franchising that same year In 2014, Mr Smith invented a new infrared fitness sauna which is now patented It was designed for three people to work out with virtual instruction He opened the original HOTWORX® 24 Hour Infrared Fitness Studio in 2017 and founded the HOTWORX® Franchise in that same year

As we welcome 2025, small business owners across Canada are stepping into a year defined by resilience, growth, and new opportunities to serve their customers in innovative ways After the bustling holiday season, it’s the perfect time to recalibrate and plan the path ahead.

Canada’s small businesses aren’t small they make up 98% of all businesses, generate over 35% of the country’s GDP[1], and employ nearly two-thirds of working-aged Canadians[2] These businesses are truly the heart of our economy and our communities

Small and medium businesses are a powerful force fueling Canada’s progress and vibrancy, what I love about small businesses in Canada is that a lot of them are rooted in community Oftentimes, the power of community and strong customer relationships can make or break a business At Interac, were proud to support and champion small businesses by offering services that can enhance the customer experience

Whether your customers are in-store, online, or both, Interac is here to support you with seamless payment solutions Interac ® Debit can help small businesses create a smooth, lowfriction checkout experience, while Interac ® e-Transfer can provide the flexibility to securely pay employees, contractors, suppliers or vendors. Regardless of the payment task, Interac is here to support a successful year ahead for your business.

Together, we can drive innovation, support our communities, and build a sustainable future for Canada’s SMEs Let’s make 2025 a year of remarkable achievements and lasting impact

Here’s to a prosperous and thriving 2025!

[1] Key Small Business Statistics 2023

[2] Analysis on small businesses in Canada

Lauren Mostowyk Head, Integrated Marketing & Communications, Interac Corp.

Lauren Mostowyk is the Head, Integrated Marketing & Communications and leads the Brand, Corporate Communications and Integrated Marketing functions at Interac ensuring effective brand and reputation management In her role, she is responsible for developing channel strategies that are instrumental in promoting our products and fostering partnerships Lauren plays a key role at Interac in maintaining consistency in our narrative across various platforms, aligning closely with our corporate strategy to effectively communicate to both internal stakeholders and external audiences. Over the past five years, Lauren has advanced through senior roles, successfully growing our employee engagement strategy, enhancing our brand’s market presence, and providing steady leadership in issues management

As we step into 2025, Canadian small businesses have an extraordinary opportunity to redefine the future of innovation While challenges remain, from economic uncertainty to rapid technological shifts, the possibilities for growth, resilience, and transformation are prevalent

At the forefront of this evolution is artificial intelligence (AI) What was once the domain of tech giants is now more accessible to businesses of all sizes AI tools can help small businesses streamline operations, personalize customer experiences, and make data-driven decisions Moreover, AIpowered voice technology is helping to create more inclusive work environments by better engaging employees with disabilities, which can ultimately improve labour shortages

Whether you ’ re a retailer using AI to predict inventory needs or a small marketing agency leveraging generative AI to enhance creativity, these tools are no longer “nice to have” but essential for staying competitive However, AI alone isn’t the answer it’s about people As AI reshapes industries, upskilling your team is critical. Employees equipped with even a basic understanding of AI and data analytics will be empowered to drive your business forward.

Finally, collaboration is key Canada’s small business community is a powerhouse of talent, and there’s strength in numbers Whether through local business networks, mentorship programs, or partnerships, the connections you make can lead to new ideas and opportunities that will propel your business forward

2025 is your year to innovate, adapt, and thrive

John Barkla, Country General Manager, Lenovo Canada

As the Country General Manager for Lenovo Canada, John is responsible for team culture, sales and strategy within Canada. John is a 25-year veteran of IBM and Lenovo in the Commercial Segment and has a broad range of experience in Commercial, Public Sector and Global markets. John has proven success in building trusted and strategic relationships within the Canadian market, leading and inspiring a national sales team, and strategically growing the business through deep collaboration, with customer satisfaction and value as a primary focus

John lives in Aurora, Ontario with his wife Helena and two children

Looking back on 2024, it’s clear that Canadian businesses faced an unknown and unpredictable landscape. While AI has been on the radar for some time, this year we truly felt its impact. From the automation of business practices to the automation of cyberattacks, we ’ ve seen firsthand how technology is reshaping the way we work – and how we defend ourselves

At Okta, we ’ ve spent the year helping businesses secure their data, protect their identities, and defend against an increasing number of sophisticated threats We block over 3 billion attacks every month, and what’s more concerning is that this is nearly 200% more attacks than we saw just a year ago

Because of this, we know that passwordless is the future of security – not just for large enterprises, but for small- to medium-sized businesses too With no passwords for bad actors to intercept, it offers robust defense against cyber threats, especially those driven by AI In fact, 75% of Canadian SMB leaders using identity management and biometrics report feeling more confident in their security And in today’s climate, confidence is key.

Dan Kagan, SVP & Country Manager at Okta Canada

But it’s not just about the systems we put in place to safeguard against these attacks, it’s about the people behind those systems. People are the collective human line of defense beyond any documented policy or standard. And that’s something no machine or algorithm can replicate

For SMBs with smaller teams, this becomes even more critical When every individual feels empowered and responsible for securing the company ’ s data, that’s when businesses can thrive

As we head into 2025, it’s crucial that small- to medium-sized business owners take a proactive and holistic approach to cybersecurity One that keeps their needs and threats in mind For leaders, this means implementing robust security measures, but also equipping their teams with the clarity and confidence to protect their organizations

The bottom line: security shouldn’t be an afterthought; it should be second nature And that’s the mindset we ’ re bringing into the new year: a focus on people, culture, and identity protection in this evolving digital landscape. It’s no longer just about progress, it’s about momentum

As the SVP & Canadian Country Manager at Okta, Dan’s priority is to lead the growth in the country while expanding Okta’s reach in both the commercial and enterprise markets Dan has a passion for investing in and building up Canada Throughout his career he has worked with large companies to lead successful expansion in the Canadian market. With over two decades of experience, he has had the opportunity to realize his passion for bringing new technologies to market and for making a difference.

As a technologist, Dan’s a firm believer in the power of innovation He understands its criticality in keeping Okta a step ahead, and as one of the best ways to delight customers. Dan delivers results by focusing on a positive change management approach He strives to lead his teams with empathy He understands that people come first, and the success of an organization is dependent on the wellbeing of its workforce.

As we start off the new year, it's natural to want to turn the page on 2024 On the economic uncertainty surrounding interest rates and inflation. On the political uncertainty created by changes in policy at home and a shifting geopolitical landscape abroad. But the fact is, that uncertainty is here to stay, at least in the medium term

The good news is that Canadian business owners are resilient You are where you are because of your determination and your focus Because of your commitment to your business; to your idea for a better product or a solution in your community

Last year I met with hundreds of entrepreneurs across Canada, and it became clear to me that you ' re adapting to this new reality That you ' re analyzing your operations and identifying opportunities to improve productivity That you ' re reviewing your game plan and integrating digital solutions

It's an excellent reflex, and the right one My message to you this year is to continue trusting your instincts Believe in your vision and the roadmap you ' ve laid out But be ready to adjust when you need to Changing course doesn't mean admitting defeat It only means you recognize a new reality

That's a skill, and not all your competitors have it So, hone it Believe in the team you ' ve put around you. Talk to your employees and help them focus on what they do best.

We're going to continue to support you as leaders and give your business every opportunity to succeed Our account managers will continue to focus on giving you the tools you need, and we ' re ambitious about financing innovative companies and pursuing opportunities in capital markets We're here to help you develop ideas, deliver them to market, and go public, if thats your goal

We live in uncertain times But you are no stranger to uncertainty Over the next several months, it will be essential to focus on what provides real value to your business and your customers You cant control the headlines, so tune out the noise and trust in your people to do the right thing Desjardins will be there with you

Jean-Yves Bourgeois , Executive Vice-president, Business Services Desjardins Group

Jean-Yves Bourgeois is Executive Vice-President of Desjardins's Business Services Group. His responsibilities include supporting the Desjardins caisse and business centre network in providing financing and other business solutions to enterprises of all sizes He's also responsible for the capital markets, international trade, venture capital and employer solutions groups The Business Services group has more than 4,500 employees in Canada and abroad and serves more

Jean-Yves earned a master of business administration at McGill University He joined Desjardins Group in 2010 and has since made his mark in finding creative financing solutions that meet businesses' needs Over the years, he's forged strong relationships with entrepreneurs, investors and partners in a wide array of sectors including technology, biotechnology, telecommunications, industrial products, agri-food and, of course, finance.

In Plooto’s survey of 500+ SMBs and financial professionals, Canadians showed they’re optimistic about what's ahead and are backing that optimism with action toward growth More than 80% of respondents expect the economy to remain stable or improve in 2025, and their top plans are investing in areas that will help them scale: expanding marketing (32%), hiring more staff (29%), upgrading equipment (22%), and implementing technology that makes it all possible (49%)

My advice to business owners and operators is don’t get left behind; follow their lead. A good place to start is using technology that will give you hours and energy back to invest in business growth – it enables everything else Businesses are already using tools like AI to automate the most tedious tasks, like making payments (26%) and financial reconciliation (23%) More than half of businesses (60%) will increase their use of fintech in 2025, illustrating the significant role technology will play in enabling these optimists to focus on growth-driving areas

If you ’ re not already managing financial processes with technology, you ’ re leaving hours on the table For many businesses, automating payment processing and reconciliation is the first step because of the immediate impact Automation quickly transforms financial operations by eliminating manual and pervasive processes, eliminating data entry errors, improving cash flow management, and supporting stronger vendor and customer relationships

Read our full report on Why – and where – businesses are betting big next year to learn more about where your peers and competitors are investing next year and what you need to do to keep pace.

John McLane, Chief Executive Officer of Plooto

John McLane serves as Chief Executive Officer of Plooto, a leading payments automation solution serving over 10,000 North American businesses With more than 20 years of experience in enterprise software spanning private equity, finance, strategy and operations, McLane boasts a wealth of knowledge on scaling fintech companies through rapid growth stages. Before joining Plooto, he served as COO Americas of Trustly During his tenure there, McLane led operations as the company grew revenue by over 30x, reached profitability, and established itself as the North American market leader McLane joined Plooto in September 2024, an exciting chapter for the company as it focuses on providing the most efficient, easiest to use AP & AR automation to thousands more Canadian SMBs

For over 25 years, the Diversity Institute has supported entrepreneurs and small and medium enterprises (SMEs) in advancing innovation, productivity, sustainability and inclusion SMEs account for most private sector employment but are often not central in the development of policies and programs Our research has reinforced the importance of SMEs to the Canadian economy and also to achieving sustainable development goals

We have documented the challenges and aspirations of SMEs, including the impacts of COVID, digitization, and the risks and opportunities of artificial intelligence (AI), green transition barriers and enablers, talent and skills shortages, and leveraging equity, diversity and inclusion policies and practices for competitive advantage We have shown that SMEs need support not just in terms of resources and investments but expertise and talent to implement change. And we have collaborated on a host of programs to build capacity including developing the Future Skills Centre (FSC)-funded Skills Bridge with Magnet and the Ontario Chamber of Commerce to provided free access to relevant training and support We have developed more than 20 programs and courses to help fill training gaps on digital skills, management and leadership, AI, green transition, as well as equity, diversity and inclusion(EDI) Our Diversity Assessment Tool App was designed to assist SMEs in developing their EDI Strategies, providing advice but also concrete examples of best practices Our work has informed government, financial institutions, VCs and Investors, Incubators and accelerators, and other business support organizations

Research by the Diversity Institute has also informed the development of the Women Entrepreneurship Strategy, which has established Canada as a leader, the Black Entrepreneurship Program and the 2SLGBTQi+ Entrepreneurship Program as well as shaping programs and policies to meet the needs of Indigenous, newcomer and refugee entrepreneurs and entrepreneurs with disabilities We have also co-designed a number of programs through FSC with provincial and municipal governments to support SMEs and business owners

Canada’s SMEs are diverse and have shown resilience, despite recent and difficult global and domestic economic challenges As we head into 2025, there are three areas that SMEs should focus their strategies - AI adoption, Green Transition and Skills Development

Dr. Wendy Cukier, Professor of Entrepreneurship and Innovation; Founder and Academic Director, Diversity Institute

The adoption of digital technologies which could include cybersecurity, clean technologies for energy or production efficiency or AI is essential in today’s digital economy If you don’t have digital adoption, you can’t innovate During the pandemic, the pivot to using technology kept many companies going Why stop now? Fortunately, employees are showing readiness for using some technologies in the workplace Our recent research report with the Environics Institute in collaboration with FSC shows that employees are ahead of their employers in the adoption of artificial intelligence (AI). Workers are using AI, often without the guardrails or the knowledge needed And, women are nearly on par in using AI in the workplace SME leaders need to get ahead of using AI responsibly, not only to minimize IP, reputation and privacy issues, but also because of the efficiencies that result with ethical use of technologies such as AI

Second, regardless of government policies all roads lead to green transition although the direction and pace may shift SMEs produce 50% of greenhouse gasses and are a critical part of the solution in every sector Working out the potential opportunities to reduce their carbon footprint requires expertise, time and funding and a careful look at every aspect of the value chain There are supports and resources available to help on this journey - now is the time to start

Talent fuels SME growth, innovation and sustainability. Understanding that investments in training are critical to success is key. There are many free or accessible training and work integrated learning programs for talent new to the workforce as well as for existing employees and the time is well spent because skilled employees will drive productivity, growth, innovation and sustainability. The national Advanced Digital and Professional Training (ADaPT) program provides a range of opportunities and is available through Skills Bridge along with 46 other courses One of the biggest challenges SMEs face is navigating the range of options in terms of programs, funding and supports We are working together with key stakeholders to provide more one stop shopping, to help SMEs access the knowledge, talent and supports they need to thrive. We look forward to continuing to provide resources and guide future conversations, policies and initiatives to support, grow and sustain Canada’s entrepreneurs.

Dr.WendyCukier, ProfessorofEntrepreneurshipandInnovation; FounderandAcademicDirector,DiversityInstitute

Dr Wendy Cukier is a professor of Entrepreneurship and Innovation at the Ted Rogers School of Management, Founder and Academic Director of the Diversity Institute (DI) at Toronto Metropolitan University, Academic Director of the Women’s Entrepreneurship Knowledge Hub (WEKH) and Academic Research Director of the Future Skills Centre She co-authored the bestseller “Innovation Nation: Canadian Leadership From Java to Jurassic Park, and is a leader in disruptive technologies and innovation and has authored more than 200 articles on diversity, inclusion and innovation. She also leads WEKH, funded by the Government of Canada, which promotes inclusive supports for women and other diverse entrepreneurs, and the Inclusive Innovation and Entrepreneurship Network (IIE-Net) She is the research leads for DI’s collaboration with the Future Skills Centre which helps the Canadian labour force, government and industry understand future skills and training needs, knowledge gaps and leading practices for an inclusive and competitive workforce in a changing labour market Her work on DiversityLeads helped shape Bill C-25 and the 50 – 30 Challenge, in which the Diversity Institute is an ecosystem partner She has been recognized with many awards, including the Harry Jerome Diversity Award, the Metropolis Research Award, the CATA Alliance and the Sara Kirke Award for Entrepreneurship and Innovation, and she has been recognized in the 100 Most Powerful Women by WXN. She has also received Canada’s Meritorious Service Cross, one of Canada’s highest civilian honours, and is the founder of several startups, social enterprises and nonprofits

Small businesses and startups are the backbone of the Canadian economy You create jobs, support communities, and drive innovation across the country. At TBDC, we know how important your work is not just for your customers, but for the strength and resilience of our economy as a whole. Your ideas, determination, and passion inspire us every day

To help you continue making a difference, we are introducing a range of exciting new programs designed specifically for small and medium businesses These programs focus on equipping you with the tools, knowledge, and connections to thrive in a rapidly evolving world We believe in empowering you with practical skills and strategies to face challenges head-on and seize new opportunities

Through these initiatives, you’ll gain access to experienced mentors who can guide you with practical advice based on real-world experience Our workshops and training sessions will give you actionable insights into AI and innovation, helping you integrate new technologies and ideas into your business You’ll also have opportunities to network with other entrepreneurs, industry leaders, and potential partners who can open new doors for your business

At TBDC, we recognize that small businesses and startups fuel innovation and bring fresh ideas to life. That’s why we are committed to helping you grow smarter, innovate faster, and contribute even more to our economy Whether you ’ re navigating early-stage challenges or looking for ways to scale up, our programs are designed to provide immediate, realworld value

You are not just business owners; you are changemakers, job creators, and community builders We are here to support you in making a lasting impact, both in your local community and beyond

To learn more about our programs or to get started, visit our website or reach out to our team Together, we can shape a brighter future for your business and our economy Best wishes

Vikram Khurana, Chairman, Toronto Business Development Centre (TBDC)

Vikram Khurana is a seasoned entrepreneur and business leader with a strong commitment to innovation and economic growth. As Chairman of TBDC, he leads initiatives that empower small businesses, startups, and entrepreneurs across Canada

With extensive experience in industries like technology, healthcare, and education, he has successfully founded and managed multiple businesses Under his guidance, TBDC has launched programs focused on innovation, entrepreneurship, and newcomer support, providing entrepreneurs with the tools to thrive in today’s economy Beyond TBDC, Vikram is dedicated to community-building and philanthropy, contributing to positive social impact in Canada and beyond.

As we step into 2025, I want to take a moment to address the small business community in Canada. Too often it seems that concern about cyber threats is voiced only when it impacts larger corporations In todays digital landscape, cybercriminals see small and medium-sized businesses (SMBs) as the most reliable and lucrative targets It’s time for law enforcement, government, the media and SMEs ourselves to recognize that SMEs are the most vulnerable, and that there are ways for SMEs to significantly minimize their cyber risk

The statistics are delivering a clear message Cyber threats, including ransomware and data breaches, have increasingly targeted SMEs, often because these businesses lack the robust or “enterprise class” defences that larger organizations maintain Threat actors know that there is profit from focusing on exploiting vulnerabilities in smaller companies, leaving them to bear the brunt of the financial and reputational damage as so many don’t have the resources of larger companies including cyberinsurance.

So, what can you do to protect your business? The answer lies in cyber resilience, which is built on three key pillars: technology, processes, and people. First, ensure your technology is up to date and incorporates the best solutions available This includes regular software updates, firewalls, and intrusion detection systems Don’t wait for a breach to invest in your cybersecurity infrastructure, and if you ’ re not sure if it is being done then ask This isn’t a money issue, it’s a process one and it involves looking for new technology you ’ ve introduced that may need patching

Second, establish strong processes that prioritize data protection and incident response Create a clear plan for how to respond to a cyber incident, ensuring that your team knows their roles and responsibilities Treat your data either like it’s radioactive gold: it has value and it must be contained, shielded, and accounted for Too many SMEs get hurt when critical data is allowed to reside in unprotected spaces, or be transferred onto employee devices when it shouldn’t be And protect and manage all your devices

Greg Young, VP of Cybersecurity, Trend Micro

Finally, invest in your people. Educating your staff about cybersecurity best practices works. No need

for technical

lectures,

but instead provides a reminder of the threats and what practices attackers exploit – these can even be an educational and enjoyable break if done right. Regular training sessions can empower your team to recognize threats like phishing attacks and to understand the importance of safe online behavior.

If managing cybersecurity feels overwhelming or if you ’ re outgrowing your own IT staff’s bandwidth to manage security, consider partnering with managed service providers These experts can extend your cybersecurity capabilities There are made-in-Canada resources to help, such as those within CanadianSME, the Canadian Cyber Centre for Security, and Industry, Science, Education and Development (ISED)’s Forum on Digital Infrastructure Resilience

As we embark on this new year, let’s commit to making cybersecurity a positive step by taking the helm of our own SME’s future and making cyber resilience a priority. By being proactive and informed, we can build a safer digital environment for our businesses and communities We’re not alone, and collaborating and sharing with other SMEs, even our competitors, is the new reality towards keeping our businesses up and running Together, we can turn the tide against cyber threats and ensure a prosperous 2025

About Greg Young

Greg’s focus is enterprise-class security. He is keen on sharing the reality of security in larger organisations and how business can be done securely in those environments. As research vice president with Gartner for 13 years Greg advised thousands of companies and governments on how to better secure themselves, evaluated and advised hundreds of security vendors, and has seen those same technologies successfully used, abused, put on a shelf, or pushed into a deep hole, never to be spoken of again

At Gartner he led research for network security, threat trends, data centre security, cloud netsec and microsegmentation He authored more than 20 Magic Quadrants for firewall, IPS, WAF, and UTM, and was Conference Chair for 4 Security Summits. Greg headed several large security consulting practices, was CISO for the Department of Communications, and served as chief security architect for a security product company. He was a commissioned officer in the military police and counterintelligence branch working as a certifier/accreditor at the national authority and received the Confederation Medal from the Governor General of Canada for his work with smart card security

Greg was named in the “12 Most Powerful Security Companies” and as one of “100 Most Powerful Voices in Worldwide Security ” And, as he mentions too often, Greg was an extra in 2 episodes of Airwolf

Experience: 35 years in cybersecurity Specialties: Securing networks, architectures, and data

Greg Dunlap, President and CEO of Stanley Mutual Insurance Company

In an exclusive interview with CanadianSME Small Business Magazine by Kripa Anand, Greg Dunlap, President and CEO of Stanley Mutual Insurance Company, shares his journey of revitalizing the company through values-driven leadership With over 30 years of industry experience, Greg has strengthened community ties and empowered employees by fostering collaboration, transparency, and innovation

Under his leadership, Stanley Mutual has introduced initiatives like natural talent assessments, flexible work arrangements, and community programs such as “Pay It Forward,” staying true to its mission of neighbors helping neighbors Greg’s advice to leaders: “Stay true to your roots, listen to your people, and evolve with purpose success will follow

StanleyMutual’s Workplace Transformation: ANewEraofSuccess

President and CEO President and CEO - Stanley Mutual Insurance Company Feb 2015 - Present

Responsible for a team of 27 along with a product distribution force of multiple offices throughout our New Brunswick, including a fully owned broker subsidary Manage a premium portfolio of $12,000,000 and assets of $20 million Responsibilities include Human Resources, Budgeting, Reinsurance, Operations, Business Development, Quality Control, Public Relations, Marketing, Branding, Strategic Planning and Coordination and Implementation of Board Policy and initiatives. Chairman Of the Maritime Association of Mutual Insurance Companies

VP Operations - Wilson Insurance Ltd. and Wilson Benefits Ltd. Feb 2002 - Oct 2014

Vice President of Wilson Insurance Ltd. & Wilson Benefits Ltd. responsible for Operations for five distinct divisions; Personal Insurance, Independent Business Unit, Corporate Business Unit, Accounting & Administration and Employee Benefits As a member of the Executive Team, I was responsible for strategic planning, budgeting, goal setting, team mentoring, hiring, coordination of all divisions towards achieving corporate goals and employee development

CommercialBroker-RVThompsonInsuranceLtd1999-2002

BrokerDevelopment-EconomicalInsuranceGroup1996-1999 SaintJohn, Moncton,NB

MarketingRep,CommercialUnderwriter,TerritoryManager-Wellington Insurance1987-1996

UNBBusinessAdministrationandManagement

NBCC(NewBrunswickCommunityCollege)

EngineeringDesign&DraftingTechnologyEngineeringDesign&Drafting Technology1985-1987

Stanley Mutual has a rich history as a community-driven insurance provider. Can you share how the company’s origins as a mutual insurer continue to influence its values and approach today?

Stanley Mutual is a New Brunswick-based insurance company with our head office in the village of Stanley, NB In the 1930s, property insurance was almost impossible to obtain in rural New Brunswick To protect their farms, four farmers came together in 1937 to pool their resources and form their own insurance company This was the humble beginning of Stanley Mutual

As a mutual insurance company, we prioritize policyholder well-being, financial stability, and community empowerment Unlike traditional insurance models, we offer a unique sense of ownership, where our members have a voice in how the company operates, including being governed by a board of directors who are members. This approach has proven to be highly effective, providing Canadians with secure, affordable insurance while fostering a strong sense of community

Through our combination of personalized service and the mutual model, your membership directly contributes to positive change in our community At Stanley Mutual, we ’ ve always believed in neighbors helping neighbors, and we ’ re proud to continue this tradition I like to look at it like a modern-day barn raising because thats the way communities always looked after each other We do the same thing now, just with some modern improvements

Under your leadership, Stanley Mutual underwent a major cultural transformation. What inspired you to take on this challenge, and what was your vision for the company’s future?

When I came to Stanley Mutual, the first thing I recognized was the need to create a more human organization, one that had values, was committed to enriching the lives of its team and membership through identifying and committing to strong core values, a behavioural model designed by the team and a strategic plan that brought the organization back to its roots of not just being an insurer but serving its communities The toxic work environment that existed was severely affecting productivity and employee engagement It was clear that the company needed a cultural overhaul to rebuild trust, morale, and productivity I was inspired by the opportunity to create an environment where people could truly thrive and reach their full potential where their strengths were identified, valued and supported

My vision was to cultivate a workplace culture rooted in collaboration, transparency and shared responsibility I wanted every employee to feel empowered and aligned with the companys mission, so they could perform at their best This required a focus on individual strengths, fostering a sense of unity, and ensuring a healthy work/life balance I also wanted Stanley Mutual to be known as an organization that cared deeply about its employees' personal growth, well-being, and contributions to the community

Through the transformative initiatives, we aimed not only to improve internal culture but also to build an environment where employees could grow professionally while contributing positively to their communities. The ultimate goal was to make Stanley Mutual a workplace where employees felt proud to be part of a company that genuinely values them.

Can you walk us through some of the key initiatives you and your team implemented to foster a positive workplace culture and improve employee satisfaction?

We focused on creating a workplace where employees felt valued and empowered One of the first initiatives we introduced was a holistic approach to talent management, where each employee underwent a natural talent assessment This allowed us to align roles with their inherent strengths and personalities, leading to greater engagement and productivity By understanding their unique abilities, we could ensure they spent at least 80% of their time doing tasks that energized them, leading to better results and a greater sense of fulfillment

Additionally, we conducted in-depth interviews with employees to gather insights about their aspirations and challenges This feedback helped us make necessary adjustments to roles, ensuring alignment between personal goals and company needs We also launched company-wide workshops where employees could voice their ideas on the ideal work environment and identify to us, how they must act to get the result they wanted This empowered staff at all levels to shape the company culture

To further enhance our culture, we introduced flexible work arrangements and a company-wide reading program, fostering continuous growth and well-being Our incentive programs recognize both small and large achievements, ensuring that employee contributions are always appreciated and morale remains high by clearly demonstrating how their work helps achieve the corporate vision

Beyond internal changes, Stanley Mutual has remained committed to supporting local communities through programs like “Pay It Forward.” How do these initiatives reflect your company’s mission and values?

At Stanley Mutual, our mission is to create a community where the strength of all supports the needs of each This guiding principal shapes everything we do, both internally and externally Our "Pay It Forward" program is a direct reflection of this mission By actively supporting local communities, we are fostering an environment where we all contribute to the wellbeing of others These initiatives embody our values of collaboration, compassion, and shared responsibility. We believe that when communities come together to support one another, we all thrive. Our commitment to these programs ensures that we continue to uplift those around us, reinforcing the strength of the collective to meet the diverse needs of individuals After all, it was the community that built us so we feel strongly obligated to help build it back

As a leader who has overseen such impactful changes, what advice would you offer to other small and medium-sized business leaders striving to innovate while staying true to their roots?

My advice is to stay true to your core values while embracing change For small and medium-sized businesses, innovation doesn’t mean abandoning tradition it’s about aligning new ideas with your company ’ s foundational principles. Listen to your employees and involve them in shaping the future; their insights can drive meaningful transformation. Prioritize open communication, employee well-being, and community involvement Success comes from fostering a collaborative environment where everyone feels valued and empowered, and where innovation naturally thrives without compromising your company ’ s identity or mission IN fact, it can only contribute to greater success for all Keep evolving, but never lose sight of what makes you unique

By Dean Askin, Communications Strategist for the Ontario Disability Employment Network.

Ontario Disability Employment Network Receives $1 Million Grant From The Slaight Family Foundation to Expand Project SEARCH

Initiative That Readies Youth Who Have a Disability for Success in Work Force

Five-year project is a “win-win” that will help create more inclusive workplaces in Ontario; help youth achieve full potential; help businesses build talent pipelines to meet future labour needs

The Ontario Disability Employment Network (ODEN) has received a $1-million grant from The Slaight Family Foundation for a five-year project that will help increase equitable employment opportunities for youth in Ontario who have a disability, and create a new standard for employment of youth who have a disability

“Youth who have a disability face significant barriers and discrimination in seeking both the experiences needed to develop important skills and in obtaining paid employment Common myths can make it difficult for these youth to achieve their goals and reach their full potential,” affirms Jeannette Campbell,

CEO of ODEN

“We’re thrilled about receiving this grant, and we ’ re extremely grateful to The Slaight Family Foundation,” she says “It means we ’ re going to be able to do work that is definitely going to make an impact on breaking down employment barriers for youth who have a disability; on creating inclusive workplaces; and helping employers understand that young people who have a disability are an important talent source for the future ”

The ODEN grant is part of a $30-million dollar transformational gift from The Slaight Family Foundation to advance disability inclusion in this country It is the largest philanthropic donation of its kind in Canadian history.

ODEN is one of 11 organizations receiving a grant. Others include the Rick Hansen Foundation, the Canadian National Institute for the Blind, the Canadian Council on Rehabilitation and Work, March of Dimes Canada, Easter Seals Canada, Inclusion Canada and Holland Bloorview Kids Rehabilitation Hospital

“The impact of disability exclusion is significant, not just on people with disabilities and their families, but on our culture and economy as well,” says Gary Slaight, President and CEO of The Slaight Family Foundation

“Connecting and expanding programs and innovations from organizations dedicated to disability care and awareness will create an umbrella of support across Canada, while dismantling stigma and creating a more inclusive society for us all ”

ODEN will use its $1-million funding over five years to support Project SEARCH community partners in developing employment opportunities for youth participants and engaging local businesses in the program

This will be facilitated through a newly created role of ODEN Workforce Engagement Specialist that will be focused exclusively on supporting and expanding Project SEARCH, Campbell explains

Project SEARCH is a program that provides young people who have intellectual or developmental disabilities with over 700 hours of job- and life-skills training, and connects them with Employment Service Providers and employers

It’s a unique initiative where students spend their final year of high school in a business learning environment at a host business They learn from a teacher and skills trainers in a classroom for part of every day As well, the students do three practical internships at the business Each Project SEARCH program runs the school year, 10 months

The initiative was started in 1996 at the Cincinnati Children’s Hospital Medical Centre Project SEARCH was first brought to Ontario by ODEN and Holland Bloorview Kids Rehabilitation Hospital in 2019 Since then, the number of Project SEARCH sites in Ontario has grown to 19 from the original two

“This funding will facilitate the expansion of Project SEARCH to more partners and workplaces This in turn will help many more youth who have a disability achieve their employment goals,” says Campbell

This year, it’s anticipated there’ll be 135 Project SEARCH graduates from the 19 sites As more communities adopt the Project SEARCH model, 25 sites are projected for 2025-26, with 175 graduates, Campbell explains.

“As well, it will enable us to develop a more robust provincial network of employer businesses involved with all Project SEARCH sites around Ontario that are committed to intentional disability-inclusive hiring and making Ontario workplaces more disability inclusive.”

Currently, of ODEN’s more than 120 member Employment Service Providers, 10 are partners in the 19 Project SEARCH sites in 14 communities

“This is an innovative early employment pathway program that makes a significant impact,” explains Campbell “Graduates develop the skills needed to obtain and succeed in wellpaying roles in a variety of industries As well, Project SEARCH helps employers see the value of an inclusive workplace.”

The Slaight Family Foundation funding will also be used to create an employment standard for youth who have a disability Too often, Campbell says, youth who have a disability either can’t find work, or are directed to or placed in minimum-wage employment opportunities that do not enable them to achieve their full potential

According to Statistics Canada data the employment rate of youth who have a disability in 2023 was 51 9% compared to 57 7% for youth without disabilities

And the unemployment rate of youth who have a disability in 2023 was 15 8% versus 10% for other youth

“The Project SEARCH model has the potential to transform the rates and quality of employment for youth who have a disability, who aren’t pursuing postsecondary education,” Campbell affirms “Internationally, on average, over 70% of Project SEARCH program graduates obtain employment in which they earn well above the minimum wage ”

Working with Employment Service Providers that are partnering to deliver Project SEARCH in Ontario communities, ODEN will co-create quality standards and procedures for properly supporting Project SEARCH graduates after they enter the workforce

“There’s a definite need for them We’re learning that the Ontario system for post-training employment support isn’t optimized to realize the full potential of the Project SEARCH model,” Campbell stresses

Campbell says The Slaight Family Foundation grant will positively impact over 830 Project SEARCH graduates over the next five years. “It’s going to empower them with the skills and confidence they need to thrive in the workforce ”

She adds, “The reach of this work extends well beyond individual graduates Its going to have a ripple effect ”

She says Employment Service Providers will be able to build their service capacity, which will benefit countless more job seekers who have a disability As well, it will drive change in employers’ inclusive-hiring practices

“Every time a Project SEARCH graduate successfully moves into full-time, equitable, well-paying employment and interacts with co-workers, supervisors and the community, ableist myths and misconceptions about youth who have a disability are dispelled,” she notes

“The activities enabled by this grant are going to raise awareness and increase knowledge among communities and employers about the valuable contributions employees who have a disability make to businesses, and about the benefits of fostering a disability-inclusive culture in workplaces,” Campbell says

Dean Askin is the Communications Strategist for the Ontario Disability Employment Network.

About Dean Askin

Dean is an award-winning content writer, photographer and communication specialist with over three decades of experience He has a specialized background in B2B and non-profit communications Dean’s diverse experience includes communication roles in the financial services, customs brokerage/international trade and logistics, and education non-profit sectors Dean has also been a field editor and writer for national trade magazines in the flooring and secondary wood manufacturing industries. As well, he has written for national trade magazines in the automotive aftermarket sector He also taught journalism to York Region highschool co-operative education students Dean began his career in daily radio current affairs and radio documentary production for CBC Radio His passion for words developed in the seventh grade That’s when his first short-story was published in the Oak Park Junior High yearbook Dean is an alumnus of Ryerson University’s journalism program. That was where he learned to hone the craft of telling engaging stories with words under the guidance of Canada’s master storyteller, the late, great Stuart McLean

Canadian professionals are actively jobhunting, despite nearly half expecting pay rises in the new year

74% professionals are looking to move roles

Managing Director - Canada at Robert Walters

A significant trend is emerging in the Canadian job market: 74% of professionals are actively seeking new job opportunities, despite nearly half (49%) expecting a pay rise in the upcoming year

This trend, discovered in our 2025 Robert Walters Salary Survey, highlights a growing dissatisfaction among employees and is particularly surprising given that only 35% of professionals feel confident about job opportunities within their sector

Drivers of job mobility

The primary reasons for this job search include a lack of advancement opportunities (33%), poor work-life balance (30%), and inadequate workplace benefits and perks (23%) Notably, 70% of professionals expressed dissatisfaction with their current benefits plan.

In addition to this, while inflation rates have decreased to 1 6%, the modest pay rises expected are insufficient to significantly improve financial stability for many employees

Professionals are seeking not only higher salaries but also comprehensive compensation packages with robust benefits The job market is evolving, and employers need to adapt to these changes to stay competitive

Financial incentives of job-hopping

Our survey also indicates that professionals who switch companies can achieve substantial salary increases For instance, senior HR professionals saw an average salary increase of 23% when moving to new companies. Similarly, financial services candidates secured a 20% increase, and legal, risk, and compliance professionals experienced a 17% rise

This trend underscores the financial benefits of jobhopping, which is becoming increasingly common as professionals leverage the competitive job market to negotiate better compensation packages

Importance of employee benefits Strategic recommendations for employers

The Robert Walters Employee Benefits Report highlights that many professionals prioritize benefits such as private health insurance, flexible working options, and extended holidays Employers are investing heavily in these areas to retain talent, with some spending up to 30% of an employee’s total salary on benefits

However, there is often a gap between the benefits employees receive and what they actually want Additionally, a lack of clear communication about these benefits can lead to underutilization and dissatisfaction Employers must recognize that the landscape has changed It’s not just about the paycheck anymore Employees are looking for a holistic package that supports their overall wellbeing and career growth

To attract and retain top talent in this competitive market, the following strategies are recommended:

Enhance benefits packages: Offering comprehensive benefits can significantly improve employee satisfaction and retention. Benefits such as private health insurance, mental health support, flexible working options, and extended holidays are highly valued by employees.

Promote work-life balance: Implementing flexible working arrangements, such as hybrid or remote work options, can help maintain a healthy work-life balance This is particularly important as many professionals are resistant to returning to full-time office work

Competitive compensation: While benefits are crucial, competitive salaries remain a key factor Employers should benchmark salaries to ensure their offerings are in line with or exceed market standards

Career development opportunities: Providing opportunities for professional growth and development can enhance job satisfaction This includes offering mentorship programs, training, and clear career progression paths

Promote a positive workplace culture: A supportive and inclusive workplace culture can significantly impact employee retention. Employers should focus on creating an environment where employees feel valued and engaged.

The landscape has changed It’s not just about the paycheck anymore

Employees are looking for a holistic package that supports their overall wellbeing and career growth To stay competitive, employers need to offer more than just financial incentives. A well-rounded approach that includes strong benefits, career development, and a positive work environment is essential.

For more insights, download a copy of the 2025 Robert Walters Salary Survey Guide.

About Martin Fox

Martin Fox brings over 18 years of expertise in workplace dynamics and talent management. Since joining Robert Walters in 2006, Martin has recruited and managed the careers of hundreds of mid-senior level professionals within investment management markets across the

world In 2016, he relocated home to Toronto to establish Robert Walters' footprint in Canada which has built a reputable name and market share in the local investment management community In his capacity as Country Managing Director, Martin is dedicated to creating a high-performance culture for his colleagues and an exceptional experience for his clients and candidates alike.