The future of fintech is being built in Southwestern Ontario
Fintech landscape in Canada and across the world has seen major growth and investment in the past couple of years According to KPMG’s Pulse of Fintech Report 2024 a record US$9 5B was invested across 121 deals in 2024, despite a drop in deal volume in the last six months of the last year Igniting excitement in the financial sector, this milestone showcases the demand for cutting-edge financial technologies
However, as the landscape gets more competitive, companies need to focus on their innovation - whether through their technology, operations, or business model – to ensure sustainable growth Since its founding in London in 2009, global venture Paystone has consistently placed innovation at the core of its software, growth model, and value proposition
Brainchild of Co-Founders, Tarique Al-Ansari and Abdullah Saab, one of Canada’s top growing companies according to The Globe and Mail, Paystone (formerly known as Zomaron) is a B2B all-in-one payment processing platform that helps businesses grow with every transaction Through an integrated loyalty and rewards program, gift card system, marketing automation tools, and payments solutions, Paystone creates unlimited opportunities for businesses to generate new and repeat customers and successfully build their online reputation to scale “The idea first came to us when businesses were first starting to adopt electronic payments for instore and online transactions,” shares Al-Ansari Years ago, it wasn't uncommon for stores to maintain multiple credit card processing machines each specific to a different payment method. For businesses, this meant various statements coming in on different dates, all to be reconciled at the end of month, which contributed to productivity and time loss AlAnsari and his founding team based out of London, Ontario saw an opportunity for a streamlined payment platform, providing next day funding, one bill at the end of the month, and fueling value through superior customer service and value added tools to help merchants grow their business
Building credibility through value addition
R&D initiatives and establishing a strong team of in-house software developers But Paystone had a smarter business model that helped them scale their company globally
A dual growth strategy
The payment processing landscape is an even level playing field “From small fintech ventures to big corporations, every player gets the same processing rate from the card networks (ie Visa, Mastercard, and others) So, if you are not adding meaningful value to transactions, then it’s just a race to the bottom,” adds Al-Ansari Paystone recognized this aspect of their industry early in their journey and have been focused on creating and providing the best value-add to their solutions From customer service that ensures prompt problem solving with their POS machines to innovating the software itself to include value added services fueling businesses growth, this focus has always kept their customers’ needs at the centre of every business decision “As the landscape got competitive, the supply became very commoditized That’s where our vision of turning transactions into interactions took shape,” explains Al-Ansari Creating differentiation based on customer feedback often means investing more business resources into
Businesses have often used M&A as a way to scale, increase their market share, and go beyond borders While this might be one of the oldest strategies in the book, Paystone’s approach offers a unique take Strategically acquiring software assets that can add value to its payment processing solution, this fintech venture made seven acquisitions across different geographies in a short period starting in 2019, leading to rapid growth “One of the constant types of feedback that we get from our customers would be to help them grow their business We realized that the solution lies in integrating payments with marketing automation This product roadmap drove many of our M&A decisions,” says Al-Ansari Paystone, a company that had been largely bootstrapped, achieved phenomenal growth in the past six years through a dual strategy This involved continued revenue from their payment solutions alongside the development of innovative product features acquired via mergers and acquisitions (M&As)
The success of this two-pronged approach led to significant investor interest, culminating in a total funding raise of $99 million in 2021
Tarique Al-Ansari and Abdullah Saab Co-Founders of Paystone
Making it to the prestigious Team True North List, a cohort representing the one per cent of global private Canadian companies with a combined revenue of $5 1B, Paystone is a testament to the thriving tech landscape that exists in the Southwestern Ontario region and throughout Canada
The recent growth and demand for innovative fintech businesses has got Al-Ansari excited about the potential that lies ahead for other scaling companies coming out of Canada
However, the Co-Founder does see missed opportunities despite resiliency of the financial system “Canada’s fintech landscape is promising, but slow The resiliency of our system is key for consumer protection, and we all pride ourselves in that aspect of our financial regulatory system But it’s important to find a balance – a balance that will allow us to innovate faster, so that we do not miss out on key economic impacts that some high-potential companies can make in our ecosystem,” says Al-Ansari
As Canada positions itself to unlock the next wave of fintech innovation, ventures like Paystone underscore the importance of marrying vision with execution For founders navigating Canada’s evolving financial ecosystem, Paystone’s story is both a benchmark and a beacon, reminding us that growth is not just about capital or product, but about creating consistent, real value
Disclaimer: This article was submitted by an external contributor or organization for informational purposes only The views expressed are solely those of the author and do not reflect the views of CanadianSME Small Business Magazine We do not guarantee the accuracy of the content or endorse any products or services mentioned Please conduct your own research before making business decisions.
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Navigating today's economy as a small business:
A conversation with RBC’s leading economists
Cynthia Leach
Nathan Janzen
Robert Hogue AssstantChiefEconomistRBCEconomics AssistantChiefEconomistRBCEconomcs AssistantChiefEconomistRBCEconomics
RBC Economics produces macroeconomic and sector-specific insights grounded in our indepth knowledge of markets across North America and worldwide. Our team of experienced economists delivers leading economic analyses and ideas to inform decision-makers across the public, private, and nonprofit sectors.
The following interviews were conducted on May 20, 2025
Against an uncertain economic backdrop, Canadian small businesses continue to experience a mix of challenges and opportunities. External pressures like tariffs, interest rates, and supply chain bottlenecks are just some of the factors impacting business growth. We asked the RBC Economics team to share their insights about these important issues and their thoughts on how businesses can navigate these shifting times
What’s your outlook for the Canadian economy over the next 12 months, and what should small business owners be monitoring closely?
NJ: The Canadian economic outlook remains uncertain and dependent on U S tariff policies
Recent developments have been encouraging, at least relative to a range of potential significantly worse outcomes that looked more likely in March and April the U S has stepped back from the most severe global tariff threats, dialed back 100%+ tariffs on China, and critically left an
exemption for duty free trade with Canada and Mexico on products compliant with CUSMA largely in place
However, the average effective U S import tariff rate still stands at 13% the highest since the 1930s Limited tariffs still affect certain Canadian exports not covered by CUSMA, as well as steel and aluminum products, and nonU.S. content in motor vehicles. Nevertheless, by our count approximately 86% of Canadian exports to the U S remain duty-free, giving Canada the lowest effective tariff rate on U S imports globally at about 3 6%
While that relative tariff advantage means Canadian exporters may maintain, or even gain, U S market share, broader U S tariffs on other countries are so large that the overall size of the U S import market could shrink as higher costs shrink consumer and business spending
We don't anticipate current tariffs causing recessions in either the U.S. or Canada but expect slower growth and Canadian unemployment rising above 7% (from 6.6% on average in Q1) before conditions improve later this year and into 2026, assuming trade disruptions ease
The term "k-shaped economy" is often used to describe today’s uneven economic landscape. Can you expand on what this means in the Canadian context, and do you see these divergences persisting?
CL: Economists are getting better at highlighting the varying economic experiences of different subgroups The “k shape” comparison refers literally to the shape of the letter, where part of it is going up and part of it is going down.
In the U S , households in the top income quintile account for half of all consumption expenditure the primary GDP driver Consequently, factors affecting these households' wealth and confidence, such as stock market performance, provide significant insight into broader economic trajectories
Canada exhibits its own K-shaped pattern, although it is relatively less important than in the U S for predicting aggregate data Lower-income households have faced particular hardship over the past two years from high inflation and interest rates Meanwhile, newcomers and younger workers have disproportionately suffered from weakening job markets, with young urban workers confronting exceptionally high housing costs
Looking ahead, new divergences may emerge Trade-exposed sectors could experience disproportionate impacts from tariff policies, uncertainty, and slowing growth
What is your outlook on interest rates? What does it mean for Small Businesses and how can they position themselves in a shifting rate environment?
NJ: The Bank of Canada is likely nearing the end of its easing cycle, which began earlier and has been more aggressive than most advanced economies The BoC has already reduced the overnight policy rate to 2 75% from 5 00% before it began its rate cutting cycle in June 2024 Our base case projects an additional 0 5 percentage point cut to 2 25% by summer 2025
The direction of interest rates remains highly contingent on an unusually uncertain economic outlook, so thinking about the way risks to that base case assumption might evolve is even more important than usual Canada's limited retaliatory tariff measures should limit the impact of the trade war on consumer prices beyond specific products like vehicles and certain foods We expect this would allow the central bank flexibility to lower rates if needed without endangering its 2% inflation target, while accounting for potential fiscal stimulus from governments
That means if the economic outlook were to worsen, some combination of additional fiscal stimulus and lower interest rates will step in to help bridge a reduction in demand. If economic growth were to surprise on the upside, interest rates might be higher than expected
It's important to remember that businesses often borrow at term rates influenced by global markets, not just the overnight rate U S inflation concerns and government borrowing levels are keeping a floor under term rates, with some spillover to Canadian markets Consequently, longer-term rates haven't declined as much as shorter-term rates this year, though we expect them to drift lower by year-end
RBC has described the current environment as being weighed down by an “extraordinary uncertainty tax.” How is that uncertainty affecting small business confidence, investment and planning?
NJ: Economic uncertainty reduces investment as returns become less predictable and causes decreased consumer and business spending Even without additional tariffs, uncertainty hampers business sentiment and investment ultimately slowing productivity growth, profits, and wages.
Canadian productivity has lagged behind peers for decades, with business investment suppressed by multiple shocks including a pull-back following the 2008/09 recession, the 2015 oil price collapse, the pandemic, and recent inflation and interest rate increases in 2022 and 2023
Encouragingly, business confidence has recently shown improvement from very low levels earlier in the spring CFIB data indicates relatively resilient
current condition assessments, and while the 3and 12-month outlooks remain negative, they've improved from March lows when Canada faced larger and disproportionate direct tariff threats Lower interest rates and strong corporate cash positions (over 30% of GDP) provide capacity for investment
Nevertheless, uncertainty will likely continue to constrain business investments throughout the coming year
Is the trade war only impacting Canadian exporters or is the turbulence also spreading to small businesses in domestic industries?
RH: Trade tensions will impact Canadian businesses with direct or indirect U S relationships but small domestically oriented businesses could also be disrupted by secondary effects
Home builders are one example Economic uncertainty has eroded consumer confidence, causing potential homebuyers to delay purchases This spring has seen home sales plummet, with demand for new construction virtually disappearing in major Canadian markets Builders currently remain occupied with projects-initiated years ago, but the diminishing pipeline of new developments is dimming the outlook for a sector that largely consists of small businesses
The good news is that governments are actively removing housing development barriers
Combined with substantially lower interest rates over the past year, these changes should improve prospects for construction and renovation businesses once economic stability returns Years of housing shortages have created substantial pent-up demand, and addressing Canada's housing crisis will require the participation of numerous small businesses across the construction ecosystem
What kinds of policy measures do you think will be most important to support growth and resilience within the small business sector?
CL: The support needed for small business resilience has two critical dimensions: broader foundations for the economy as a whole and targeted small business measures
Canada must diversify export markets and stimulate business investment this is a longstanding challenge that has contributed to slower living standard growth compared to global peers This task becomes more difficult given our projected weak growth environment and persistent U S policy uncertainty
So, there has to be an important role for government. Here, transportation infrastructure is a big one. There are 7.9 billion non-U.S. potential customers for Canadian exports out there in the world Meanwhile, we have an incredible collection of free trade agreements whose benefits are not being maximized and ports, rails, and pipelines that have been reaching their limits
This would benefit small business We then have to consider targeted measures to account for small business challenges in scaling, upskilling workers, or investing in AI and other productivity enhancing tools We also know small businesses are half as likely to be exporters and are also more likely to face failed export attempts This would be a good place to start
We’ve talked a lot about disruption and uncertainty. But in your view, are there still pockets of opportunity out there for small businesses?
CL: A more fragmented trading system – if that is indeed where we ’ re headed – is bad for global growth That’s the negative longer-term backdrop that animates this conversation
But in the near term, we have to account for some bright spots. Canada has secured a relatively advantageous position regarding U.S. tariffs facing approximately 3.6% average rates on U S imports from Canada versus the minimum 10% imposed on most countries outside North America Though targeted tariffs and uncertainty will certainly impact growth, Canadian households are gaining strength through interest rate normalization and per capita GDP is projected to resume growth later this year A drop in Canadians traveling to the United States means more of those travel dollars will potentially be spent within Canada Also, Canada maintains both fiscal and monetary policy flexibility to buffer against additional shocks
Beyond that near-term silver lining, though, the typical refrain applies – the discomforts of disruption breed opportunity
We're witnessing emerging consensus around addressing longstanding challenges like interprovincial trade barriers. Ontario has already established agreements with Manitoba, Nova Scotia, and New Brunswick to reduce bilateral barriers, while Prime Minister Carney has committed to eliminating federal exemptions to free trade by July 1st Falling internal trade barriers represent substantial opportunities for small businesses
Get more economic and business insights at RBC Economics and RBC Tariffs Navigator for Business
Simplified:
sTailoredforSmallBusinessesinCanada
ow we work, offering new ways to solve problems, and be more creative - whether you ' re a small trying to reach new customers, or ng for a biology exam As a result, hat Canadians are demonstrating emand for AI-focused training and ing to Google’s most recent ct Report from Public First, 63% of rs are interested in AI Skilling, young Canadians. Although only d medium-sized businesses in ng AI, nearly half (42%) stated ire assistance to integrate AI into
ounced the launch of two new ow with Google, Prompting I for SMBs, to help overcome the anada
The goal of the latest Grow with Google courses is to give individuals and small businesses functional, practical AI skills so they can use AI to streamline their tasks, save time, and benefit from it
With Prompting Essentials, people will gain the prompting skills and strategies necessary to use AI to perform daily activities, improve their creativity, save time, and accomplish more. The course effectively distills prompting into five practical categories based on tried-and-true methods created by Google AI experts It expands upon the fundamental ideas covered in Google AI Essentials, the most popular generative AI course ever offered on Coursera worldwide They are collaborating with non-profits like ComIT, Halifax Partnership, Digital Nova Scotia, Digital Main Street, BC Tech, and the Canadian Council for Indigenous Businesses to offer scholarships to people in their network to lower the barrier to entry for AI adoption
Being the foundation of the Canadian economy, small businesses foster innovation, generate employment, and fortify communities "Canadian small businesses are the heartbeat of our communities We want to empower them with the tools to thrive in the digital age Our new AI courses offer the practical, accessible skills entrepreneurs need to save time, drive growth, and continue building a prosperous Canada for all of us, " says Natasha Walji, Managing Director for Google Customer Solutions at Google Canada Though it may seem unattainable, artificial intelligence (AI) is a technology that may aid time-strapped small businesses and entrepreneurs by streamlining company processes and opening up new prospects. AI for SMBs, which was created with input from Google experts, will outline the fundamentals of AI and how Google's AI-powered solutions can improve customer experiences, boost productivity, and spur business expansion
Their dedication to applying AI expertise to benefit people, businesses, and communities is shown in their most recent AI skilling efforts, which are a part of a larger skilling program with Grow with Google and Google Career Certificates Over 54,000 people in Canada have graduated from the Google Career Certificate program to date, with 75% of certificate graduates reporting a positive career outcome, like a new job, promotion or raise, within six months of completion
Closing the AI skills gap is an investment in Canada's workforce This will ensure that we are all ready to adapt and prosper in an AI-driven world You can access the AI for SMBs free training, available on-demand here by visiting g co/grow/AIforSMBs
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
Disclaimer: This article is based on publicly available information intended only for informational purposes CanadianSME Small Business Magazine does not endorse or guarantee any products or services mentioned Readers are advised to conduct their research and due diligence before making business decisions
WHY MORE CANADIAN SMBS ARE CHOOSING
SAGE INTACCT TO POWER THEIR FINANCIAL GROWTH?
As small and mid-sized businesses grow, one truth becomes clear: spreadsheets can’t scale The complexity of managing cash flow, reporting, compliance, and forecasting across products, teams, or even locations starts to outpace what traditional tools can handle
That’s where Sage Intacct steps in It’s a modern, cloud-based financial management platform trusted by thousands of Canadian organizations that want to do more with less and do it smarter.
Built for the Realities of Modern Business
Sage Intacct wasnt designed to be good enough for everyone It was built to be great for finance teams, with depth, flexibility, and automation at its core Unlike all-in-one systems that compromise on usability, Sage Intacct gives SMBs a powerful back-office engine without the enterprise bloat
It’s a true cloud solution, meaning you can access your data securely from anywhere And it works well with others Whether you use Salesforce, a payroll system, or industry-specific tools, Sage Intacct integrates through a robust open API It handles over a billion API calls every month
What does that mean for your business? Less time doing manual work and more time making strategic decisions
Results That Speak for Themselves
The numbers tell a compelling story On average, Sage Intacct customers report:
• A 250% return on investment
• Payback in under six months
• A reduction of up to 79% in time-to-close during financial periods
For SMBs navigating growth or resource constraints, that kind of efficiency can be transformative Finance teams regain bandwidth Leadership gains insight The business moves faster with more confidence
Financial Management Without Limits
At its core, Sage Intacct handles the fundamentals: accounts payable and receivable, general ledger, cash management, purchasing, and order processing But where it really shines is in its ability to flex and scale
Its general ledger includes eight built-in dimensions, so businesses can tag and track data by department, product, project, region, or customer No more workarounds or bloated accounts charts Just clean, actionable insights ready when you need them
Reports that used to take days can now be built in minutes. Need a summary roll-up of financials across ten locations? Done. Want to dig into midmonth revenue trends? Go for it. Custom dashboards let teams from sales to operations see the numbers that matter most to them
Industry-Savvy Tools for Canadian SMBs
Sage Intacct offers features tailored to what businesses need
If you run a tech startup or subscription-based business, Sage Intacct helps automate deferred revenue, manage recurring billing, and stay on top of compliance.
If you ' re a nonprofit, you can track restricted funds, manage grants, and generate reports for your board with ease
If you operate in healthcare, hospitality, or business services, you'll benefit from tools that simplify multi-entity management, reduce manual entry, and improve visibility across operations Canadian organizations are already seeing results Voices com cut its month-end close time from 15 days to just two Hope’s Home gained visibility across multiple sites, allowing them to optimize procurement and minimize waste Tetherow, a hospitality group, added seven new entities without hiring additional accounting staff
Grows as You Grow
Sage Intacct is modular, so you can scale at your own pace Start with core financials, then add what you need
That includes inventory and fixed asset management, lease accounting, global consolidations, project accounting, spend control, and time and expense tracking
The platform evolves with your business, so you never outgrow it or pay for features you don’t use.
And with built-in integration to Sage HR and payroll solutions, your people data flows directly into the system That means easier payroll runs, unified reporting, and fewer silos between finance and HR
Future-Ready and Open to Innovation
The Sage Intacct Marketplace gives you access to a curated ecosystem of integrated apps across CRM, payroll, subscription management, budgeting, and more It’s your shortcut to building a connected tech stack, with data flowing directly into your financials
Unlike traditional ERP suites that lock you into rigid workflows, Sage Intacct keeps you flexible You’re free to choose the best tools for your needs while keeping everything aligned under one powerful financial engine.
Bottom Line: Finance That Drives Growth
For Canadian SMBs, Sage Intacct is more than accounting software It’s a strategic platform for growth It helps businesses move from reactive to proactive, from manual to automated, from scattered data to strategic insight.
It’s not just about closing the books faster It’s about improving forecasting, controlling costs, and making smarter decisions every step of the way
Whether you ’ re a nonprofit with complex funding, a SaaS company scaling fast, or a hospitality group with growing locations, Sage Intacct can help you run a tighter, smarter, and more resilient business
Learn more or book a demo at sage com/enca/sage-business-cloud/intacct
Small and midsize companies in Canada face unique challenges, not just in business operations but also in travel management In today's everchanging business environment, implementing an effective travel program helps SMEs save valuable time and money to directly support their business goals
Unique Challenges, Vast Opportunities
Canadian SMEs contribute significantly to the economy, accounting for more than half of the country’s GDP and employing 63% of the workforce Small businesses alone represent 97 8% of Canada’s 1 22 million employer businesses, emphasizing their critical role in communities nationwide
Meeting Travel Needs Without Compromise
While managing travel costs is crucial, overall value is vital to SMEs, who prefer not to sacrifice comfort or convenience for price Leveraging corporate travel discounts and loyalty programs enables them to stretch budgets without compromising quality
For most business travel occasions, SMEs choose economy and midscale hotels because they offer their preferred amenities clean rooms, reliable Wi-Fi, and quality breakfasts at competitive rates
With sustainability being a high priority, SMEs value accommodations aligned with their environmental and cultural values As SMEs thrive, so does Canada’s economy Yet smaller businesses face challenges that impact them more significantly than larger corporations Affordability is a priority, as travel exp represent a larger share of SME budge
Navigating Business Travel:
Smart Solutions for SMEs
Business travel is indispensable for SM explore new opportunities, manage ac strengthen relationships Yet time can important, as SME owners often juggle roles without dedicated travel manag such as choosing hotels, comparing ra managing employee travel can consu time and compete with other priorities
Tarandeep Singh
Achieving Goals and Managing Costs
Yet, meeting travel needs without compromise can be challenging for SMEs. Compared to large corporations, they have limited negotiating power, making it more difficult to secure competitive rates Other common challenges include time constraints, affordability, and flexibility As SMEs frequently book travel on short notice, flexible cancellation policies and options to make quick changes without incurring high fees are critical
In this environment, partnering with a travel provider who genuinely understands SME needs can serve as a valuable ally, supporting their goals through cost-effective programs, streamlined processes, and personalized features that ease administrative tasks
Helping SMEs Achieve Business Travel Goals
By simplifying travel management, the IHG Business Edge program, part of UK headquartered IHG Hotels & Resorts, respects SMEs' time, money, and energy Whether travelling to meet new clients, exploring new opportunities, or building team productivity, SMEs can focus on their objectives as IHG Business Edge makes travel seamless and cost-effective.
Created specifically for SMEs, IHG Business Edge addresses the pain points of SME travel with guaranteed discounts, flexible cancellation policies, and a single, user-friendly portal to manage bookings and expenses Members also gain accelerated IHG One Rewards loyalty status, achieving Silver Elite after just one qualified stay Additionally, loyalty points earned can be applied to future business or personal trips, providing further value
Sustainability Commitment
Canadians and SMEs increasingly value sustainability initiatives that align with their environmental and cultural priorities, with 86 percent stating that sustainability is critical to their business Sustainability resonates strongly with SMEs seeking partnerships with like-minded companies By prioritizing sustainability today, SMEs position themselves to lead in Canada’s evolving market, shaping the future with impactful solutions
IHG shares this commitment through its Journey to Tomorrow responsible business plan, aligned with the United Nations’ Sustainable Development Goals Programs like IHG Green Engage and the Low Carbon Hotel Program reduce carbon emissions and support energy-efficient practices, closely aligning with SME priorities for responsible travel
Advancing to Meet Future Needs
As the business climate and customer needs continue to evolve, IHG Business Edge continuously adapts to deliver enhanced value For example, its new Partnerships Program delivers specially curated offers for members with exclusive savings on trusted brands like Hertz, Dell, and Getty Images
In recognition of its commitment to SMEs, IHG Business Edge has been named Global Traveler’s Best SME Program for six consecutive years and received the Inc Power Partner Award in 2024
With over 200 hotels across Canada, including brands like Holiday Inn, Holiday Inn Express, Staybridge Suites, and Candlewood Suites, IHG ensures a consistent, high-quality hospitality experience tailored for SMEs
By offering employees convenient and comfortable lodging options through IHG’s extensive network, SMEs can ensure their teams remain productive during business trips. Finding great accommodation should be the last thing on your mind as you focus on your business and client relationships in the market.
Visit the IHG Business Edge portal for more information and discover how we can help simplify travel and support your business success
How AI Agents Are Redrawing the Map of Modern Business
At the break of every new industrial age, there are those who chart the unknown and those who follow Today, we stand at the edge of a new economic frontier, where the lines between human ingenuity and artificial intelligence (AI) are blurring This is not just a technological inflection point; it's a redefinition of what a company is Welcome to the age of the Frontier Firm a new breed of business, built for a world where digital agents don’t just support us they collaborate and execute
For decades, business evolution followed a familiar arc: optimize, automate, scale. But in 2025, that story has a new protagonist AI agents. These arent passive tools awaiting human input Theyre dynamic and evolving, capable of managing workflows, coordinating with humans, and delivering measurable results According to Microsofts 2025 Work Trend Index, 78% of Canadian Leaders say 2025 is a pivotal year to redefine their core AI business strategy and operations, and nearly half (46%) of Canadian business leaders have already made expanding their team capacity with digital labour a top priority, actively redesigning roles and workflows to accommodate digital agents at the heart of their operations
The image of the traditional organizational chart a tidy pyramid of command now looks increasingly like a relic of a bygone era In its place, a "Work Chart" is emerging: a living, breathing web of dynamic teams composed of humans and AI agents working side by side Where once we had departments and job titles, we now see outcome-based constellations task forces that spin up and spin down based on need, speed, and specialization
Kree Govender
These Frontier Firms are not merely digitized versions of old-world corporations; they are AInative organisms nimble, adaptive, and relentlessly optimized And they’re not confined to a large enterprise In fact, the real story is unfolding across small and medium-sized businesses, where constraints have always bred creativity With AI agents now accessible through off-the-shelf platforms, startups and SMBs are leapfrogging legacy players, embracing digital labour as a force multiplier As the Work Trend Index puts it, these organizations are “nimbler, flatter, and faster to adopt,” with 35% of Canada’s SMB leaders already experimenting with fully automated workflows
The economic implications are vast The Stanford Institute for Human-Centered AI (HAI) reports that the global number of AI deployments in business has more than doubled in just two years AI’s impact on labor productivity, once speculative, is now empirically validated: sectors adopting AI agents see faster decision-making, reduced latency in execution, and increased customer satisfaction But beyond metrics, a deeper cultural shift is taking place
We’re entering the age of the “Agent Boss. ” In this new model, every employee becomes a team leader of agents. Individuals are empowered to create, deploy, and train AI agents to work on their behalf The result? A flattening of hierarchy and a flowering of autonomy Workers spend less time managing up and more time managing outcomes Leadership becomes less about control and more about curation guiding intelligent systems toward shared goals
Of course, not every job should be handed off to AI, and not every decision belongs to an algorithm Human judgment, empathy, and ethical discernment remain irreplaceable In fact, companies that win in this new era will be those that strike the right balance: pairing machine precision with human wisdom, and scaling AI without sacrificing soul
The stakes are enormous Those who hesitate risk falling behind a fast-moving tide But for those willing to embrace the discomfort of transformation, the opportunity is generational In the same way railroads, electricity, and the internet redrew the economic landscape, AI agents are redrawing the map once more The question is no longer if we must adapt, but how fast
So, what should businesses do now? Start with intent Identify high-friction workflows where AI can relieve the burden Empower teams to experiment give them permission to fail forward Invest in AI literacy across every level of the organization, from the boardroom to the breakroom And above all, lead with a vision of what your organization can become not just more efficient, but more human, precisely because the machines are doing the heavy lifting
The frontier is no longer a place Its a mindset And the pioneers of this new age won’t be those with the largest budgets, but those with the clearest sense of purpose, the boldest reimagining of possibility, and the courage to put agents on the frontlines of progress Chart your own course Start your AI learning journey today
References
1 MicrosoftWorkTrendIndex2025:TheYeartheFrontierFirmIs Born https://wwwmicrosoftcom/en-us/worklab/worktrend-index/2025-the-year-the-frontier-firm-is-born
2 StanfordInstituteforHuman-CenteredArtificialIntelligence: AIIndexReport2025 https://haiproductions3amazonawscom/files/hai ai index report 2 025pdf
CanadianSME Small Business Magazine recently sat down with Ryan Plemmons, Vice President of Global Sales Strategy at IHG Hotels & Resorts, to discuss the evolving landscape of business travel in Canada and what it means for Canadian small and midsize businesses Ryan shared his insights on the unique challenges facing Canadian SMEs today and the importance of working with a hotel partner who understands their specific needs
A seasoned leader in the hospitality and travel sector, Ryan brings nearly two decades of industry experience and a big-picture mindset to his leadership role at IHG, where he guides the global sales strategy for transient travel, groups and meetings, IHG Business Edge (IHG’s dedicated SME program), and partner contracts worldwide
Ryan Plemmons
on Strengthening Connections
Through SME Meetings and Events
While meetings and events remain an essential part of how SMEs build relationships and grow, many Canadian businesses also rely on frequent midweek travel for client meetings, service calls, project work, and market expansion Whether it's a quick overnight stay for a site visit or coordinating a multi-day strategic planning session, SMEs need flexible, reliable hospitality solutions that can keep up with their pace
How do you view the current business climate for Canadian SMEs and their travel needs?
Reading today’s headlines, it would be easy to focus on economic uncertainty and potential challenges ahead. However, at IHG, we remain optimistic. The inherent need to reach new prospects, build partnerships, and strengthen connections remains essential, and travel is a key part of how businesses achieve those goals
Canadian SMEs, in particular, rely heavily on inperson meetings and travel to sustain client relationships, explore new markets, and manage operations across provinces Research has shown that face-to-face meetings are 34 times more effective than emails in generating a positive response With these considerations, travel continues to be a strategic investment in growth
At IHG, we ’ re focused on supporting that investment by providing Canadian SMEs with reliable hospitality solutions tailored to their evolving needs
How is IHG supporting Canadian SMEs with meetings and group travel?
We recognize that SMEs require more than accommodations they need spaces, services, and partnerships that help drive business success Whether hosting an internal strategy session, launching a new product, entertaining a client, or rewarding high-performing employees, we provide the venues, flexibility, and support to make it happen
IHG continues to expand across Canada with an eye toward the needs of SMEs Our hotels offer a range of flexible meeting spaces, personalized event services, and convenient amenities designed to support business growth
Our commitment is to ensure that SMEs can access the optimal hospitality and meeting solutions, whether their needs involve large gatherings or small events, in major cities, smaller communities, or overseas
Would you highlight a few IHG properties ideal for Canadian SMEs planning meetings or events?
Absolutely Across Canada, we have nearly 200 hotels representing various brands and service levels to match the diverse needs of SMEs
For example, InterContinental Toronto Centre offers over 18,000 square feet of versatile meeting space in the heart of downtown, making it an ideal choice for board meetings, large conferences, or client events
The Holiday Inn & Suites St Catharines Conference Center includes more than 20,000 square feet of flexible conference space, a bowling alley for fun team-building activities, and a rooftop patio available for private functions to entertain guests.
The Kimpton St George, in Toronto’s fashionable and picturesque Bloor-Yorkville neighbourhood, features a unique, inspiring atmosphere for creative off-site meetings, retreats, or small events
Canadian SMEs often travel beyond major metropolitan areas to smaller cities where they have operations, customers, or growth opportunities That’s why it’s essential to have hotels in the right locations not just in Toronto, Montreal, and Calgary, but also in communities from Halifax to Kelowna
We cover business lodging and event needs from coast to coast, ensuring that Canadian SMEs have consistent support wherever business takes them
What incentive travel options are available for Canadian SMEs looking for warmer destinations?
Incentive travel remains a powerful tool for motivating teams, recognizing achievements, and reinforcing loyalty Warm-weather destinations are particularly appealing during colder months
IHG’s exclusive partnership with Iberostar Beachfront Resorts opens many opportunities in the Caribbean and Latin America Locations in Mexico, Aruba, and the Dominican Republic offer striking settings for incentive trips that reward and inspire
These Iberostar properties combine beautiful beachfront locations with the service quality and event support that business groups need, whether hosting an incentive trip, leadership retreat, or celebratory gathering
How is IHG making it easier for SMEs to plan group stays and meetings?
We understand that SMEs often operate with limited resources and time That’s why we ’ re committed to making the planning process as efficient and straightforward as possible
One way is through our new Easy Groups program, which allows small groups of 10–25 rooms to secure reservations quickly, with real-time availability and transparent pricing It’s designed to simplify small group bookings and save valuable time for SMEs
For larger meetings, our Meetings & Events website (ihg com/meetingsandevents) allows travel planners to search by city, hotel, and meeting room size through a streamlined process that makes it easy to find the perfect fit
For businesses that prefer personal assistance, our 1-800-MEETING service provides direct access to experienced professionals who can answer questions and help coordinate logistics
How does IHG help Canadian SMEs maximize value from their business travel and events?
Managing budgets is a top priority for SMEs, and we ’ re focused on helping them get more out of every travel dollar
Our IHG Business Edge program, created specifically for small and midsize enterprises, offers members exclusive rates and rewards through our IHG One Rewards program Members earn points for qualifying stays and meetings, which can be redeemed for future travel, helping to stretch budgets further
During these unprecedented times, IHG, a company founded and based in the United Kingdom, continues to provide trusted hospitality solutions that help Canadian SMEs build meaningful connections as they navigate today’s evolving business environment.
We’re driven by our purpose of True Hospitality for Good, which reflects in how we treat our clients, support our teams, and respect the communities and the world around us
We invite you to visit IHG Meetings & Events or call us at 1-800-MEETING to learn how we can support your business and event needs
The Scarcity Principle operates on a simple premise: things become more attractive when their availability is limited This isn't just economic supply and demand - it stems from our deepseated aversion to loss. Let's be honest: were all wired to want what we can't have. Whether it's a limited-edition collectible or the last seat on a flight, the perception of scarcity elevates desire and prompts quicker action
Evolutionarily, this makes sense Resources were often finite, and the ability to secure them was crucial for survival. This ingrained bias persists, even in our relatively abundant modern world, manifesting in our eagerness to snag limitededition items, book the last available room, or jump on a flash sale We're basically just cave people with credit cards The fear of missing out (FOMO) is a powerful motivator, often overriding rational assessment
1
Launches and Special Editions: Announcing a limited run of a new product or a special edition item creates immediate buzz and drives early adoption The perceived scarcity ("Only 100 units available") taps into FOMO and encourages swift purchasing decisions Remember 2020, when sensible adults started fighting over the last pack of toilet paper like kids fighting for the last cookie?
Inventory Management as Persuasion: Highlighting low stock levels ("Only 3 left!") can turn hesitant browsers into buyers Many sites take this a step further and show a few items that are out of stock to reinforce the message: “buy now or regret later”
2. Creating Exclusivity with Time Constraints:
Flash Sales and Limited-Time Offers: Imposing strict deadlines on promotions ("Offer ends in 24 hours!") compels immediate action, overriding the tendency to procrastinate and deliberate This tactic works in both marketing and sales pitches
Ben Wise
Chiu
Early Bird Discounts and Priority Access: This is the business world's version of "I knew about them before they were cool " Offering exclusive benefits or lower prices for a limited time to early adopters leverages both scarcity and the desire for preferential treatment This can be particularly effective in securing initial traction for new products or services.
3. Showcase Unique Access and Information:
"Members Only" Content: Restricting valuable information or opportunities to a specific group enhances their perceived value Think of the restaurant or night club with a long lineup - the ROI of a single velvet rope is unmatched
Limited Expert Availability: Positioning consultations or specialized services as having "only a few appointments remaining this month" elevates their perceived worth and encourages quick action. (Side note: We only have a handful of speaking slots still available for this year - get in touch *See what we did there?*)
Warning: if you try to deceive with scarcity, you will quickly lose credibility We can all think of a retailer whose “24-hour sale” has been running for a month
MonthlyChallenge:TheScarcityAudit
This month, examine your communication and offerings through the lens of scarcity
1 Identify potential scarcity levers: Where can you truthfully introduce elements of limited quantity, time, or access in your interactions or marketing?
2 Ethical Implementation: Ensure your use of scarcity is genuine and not misleading False scarcity erodes trust and can have long-term negative consequences. Trust, like limitededition products, is hard to replace once it's gone.
3 Experiment and Observe: Introduce a scarcity element in one of your communications this month and track the response Did it generate a greater sense of urgency or increase engagement?
FurtherReading:
Influence: The Psychology of Persuasion by Robert Cialdini. This is the seminal text on the scarcity principle and other key persuasive techniques.
There are lots of research papers on the impact of perceived scarcity on consumer behaviour Here one is one of our favourites
By Sk Uddin
Founder and President of Knix
Revolutionizing Intimates with Innovation and Inclusivity
Joanna Griffiths, the visionary Founder and President of Knix, has transformed the intimate clothing business with her innovative approach and commitment to empowering women Griffiths founded Knix in 2013 and has evolved it into one of the world's fastest-growing businesses in the category Her ability to comprehend client demands and challenge conventional wisdom has fuelled her success Griffiths achieved a significant milestone in her career in 2022 when she negotiated Knix's $410 million sale to Essity, a global leader in health and hygiene. This was Canada's largest publicly disclosed private sale of a company founded by a solo female founder, cementing Griffiths' status as a pioneer in her sector
From Media to Intimates: A Journey of Purpose
Joanna Griffiths' entrepreneurial journey took an unexpected turn from her initial media and entertainment goals Griffiths was earning an MBA at INSEAD when she had a candid talk with her mother about women ' s health, which led her to fill a market vacuum for practical and pleasant intimates This realization inspired the launch of Knix, a business dedicated to rethinking underwear to fulfill women ' s needs better.
Griffiths disrupted the fashion and retail industries despite her lack of traditional experience She pioneered items like leakproof undergarments and wireless bras by prioritizing client feedback and real-world practicality Her inventive designs immediately found popularity, establishing Knix as a market leader and propelling its fast expansion Griffiths' unusual approach, based on listening to clients and breaking obsolete traditions, proved to be a winning strategy
Breaking barriers and redefining success
Griffiths has made audacious choices and prioritized sincerity throughout his journey with Knix In 2016, she moved significantly by shifting Knix from a wholesale to a direct-to-consumer strategy
This decision helped the brand align with its vision and contributed considerably to its growth Knix also became linked with diversity after launching varied marketing campaigns showcasing actual women of various ages, sizes, and backgrounds a ground-breaking step in the intimate apparel industry.
Griffiths has often defied expectations and questioned standards In 2021, she turned down possible investors who doubted her abilities to lead as a mother She went on to raise $50 million in Series B funding mere days before giving birth to twins This deed demonstrated her dedication to pushing for women ' s potential in both professional and personal realms while also gaining essential resources to assist Knix's growth
A Vision for the Future
Under Griffiths' leadership, Knix expanded its product line to include activewear, swimwear, and loungewear, all with a focus on comfort and utility Beyond extending its product line, Griffiths has utilized Knix to effect positive change In 2022, she established the Knix Fund, committing $1 million to community programs over three years
Looking ahead, Griffiths remains committed to innovation, inclusivity, and empowerment. Her incredible career, from designing a single product to building a global brand worth more than USD 400 million, demonstrates her entrepreneurial vision and resilience
Joanna Griffiths' Knix continues to inspire transformation, demonstrating the power of purpose-driven leadership in making a significant difference.
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
While private investment is expected to fall 19 1% in Q2 following a 13.9% decline in Q1, inflation is predicted to increase to 2.7% annually. Weak demand, growing input costs, and a challenging trading climate are the leading causes of this crisis Many SMEs have halted capital expenditures and postponed expansion plans due to the historic lows in business confidence Owners are increasingly concerned with cost containment, financial stability, and preserving liquidity to weather the storm
The Tariff Burden: Price Pressures and Sectoral Effects
The challenges facing Canadian SMEs are worsened by rising tariffs, particularly those associated with ongoing trade disputes with the US and China While importers have more flexibility in adjusting pricing, exporters are particularly hard-hit because they cannot pass on tariff-related expenses to customers
Impact of Economic Contraction and Tariffs on Canadian Small Businesses and Their Banking Needs
By Maheen Bari
Small and medium-sized businesses (SMEs) in Canada are dealing with previously unheard-of difficulties in the second quarter of 2025 Businesses nationwide are changing their banking ties and financial strategy due to rising tariffs and a weakening economy Using the most recent Canadian research and professional opinions, this essay investigates how these pressures impact SMEs
Economic Contraction and Its Immediate Effects
After only 0 8% growth in the first quarter of 2025, the Canadian economy is predicted to decrease drastically in the second quarter, according to the Canadian Federation of Independent Business (CFIB).
The industries most affected by trade, like manufacturing and wholesale, are seeing the most significant drops in demand Businesses in the arts and leisure, hotel, and agriculture sectors are less able to pass on expenses and are frequently compelled to absorb them, which squeezes their already slim margins According to CFIB surveys, more than half of SMEs struggle to set fair and profitable rates today, and a majority plan to raise prices once supplier costs stabilize This dynamic is fuelling inflation and further weakening consumer demand
Financial Strategies: Adapting to the New Reality
SMEs are reconsidering their financial strategies in response to these economic challenges
Many organizations have tightened their budgets, renegotiated supplier conditions, and postponed non-essential projects, making cash flow management a significant responsibility SMEs are also looking for methods to use automation and digital transformation to save operating costs and diversify their sources of income Another central area of concentration is strategic funding While some companies are looking into other financing options like venture capital and government programs, others are refinancing their current debt to benefit from lower interest rates For SMEs hoping to endure and eventually prosper in this unstable climate, the capacity to quickly adjust by keeping an eye on economic indicators, revising financial projections, and retaining flexibility will be essential
Banking Relationships: Shifting Needs and Expectations
What SMEs require from their banking partners is evolving due to the shifting economic environment. SMEs are searching for banks that provide flexible lending alternatives, quick loan approvals, and digital solutions for real-time financial management because liquidity and credit availability are more crucial than ever A lot of companies are also looking for advice on how to manage risk, maximize cash flow, and deal with government assistance programs Banks offering proactive support, streamlined digital services, and tailored counsel have a higher chance of drawing in and keeping SME clients On the other hand, as companies look for more flexible options, firms with strict lending standards or sluggish service run the risk of becoming obsolete The current environment has hastened the transition to deeper advisory ties and digital-first banking
Policy and Advocacy: What SMEs Need from Government
Advocates for SMEs are urging all tiers of government to confront the trade and economic issues head-on. Tax reductions, regulatory burden reduction, and tariff relief are top priorities
The carbon tax should be repealed, capital gains exemptions and small business tax rates should be improved, and tariff proceeds should be promptly returned to impacted companies To help SMEs discover new opportunities and lessen their reliance on unstable markets, policymakers are also recommended to support market diversification and the removal of internal trade restrictions Many SMEs would find it difficult to survive a protracted economic downturn and trade uncertainty in the absence of decisive policy action
The endurance of Canadian SMEs is being put to the test by the economic downturn and increased tariffs in Q2 2025 Businesses can get through these difficult times by putting cash flow management first, modifying their financial plans, and looking for dependable banking partnerships To rebuild trust and establish a more stable atmosphere for small firms to bounce back and expand, significant government action is still necessary
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
Disclaimer: This article is based on publicly available information intended only for informational purposes CanadianSME Small Business Magazine does not endorse or guarantee any products or services mentioned Readers are advised to conduct their research and due diligence before making business decisions
Inclusive Finance: Expert Guidance
for Empowering
Indigenous and LGBTQ+ Entrepreneurs
By Sk Uddin
In Canada, Indigenous and LGBTQ+ entrepreneurs continue to face obstacles in obtaining funding, controlling risk, and growing their businesses New financial structures, mentorship programs, and funding initiatives are bridging historical inequalities in 2025 Based on expert opinion and interviews, this article provides helpful guidance for diverse business owners navigating the changing banking and financial world
Equitable Capital Access: Addressing Systemic Barriers to Funding
Systemic hurdles, such as a lack of collateral, limited ties with mainstream banks, and jurisdictional issues pertaining to the Indian Act, have long made it difficult for Indigenous companies to obtain funding First Nations Bank of Canada CEO Keith Martell observes, “Traditional banks often do not lend to new entrepreneurs without equity or a proven track record Section 89 of the Indian Act and the remoteness of many communities further complicate matters ”
Indigenous-owned financial institutions and specific government initiatives are growing in scope to tackle these issues Access to loans and equity is being expanded through the Indigenous Growth Fund and BDC’s Inclusive Entrepreneurship initiative, which has committed $250 million for women, Black, and Indigenous entrepreneurs Experts advise searching for alternate lending structures, Indigenous-led investment institutions, and new online resources such as the Indigenous Business Navigator, which links business owners with consulting services and financial alternatives directly
Managing Risk: Building Financial Resilience
For a business to survive, risk management is essential, particularly during difficult economic times In their interviews with Indigenous-SME Magazine, Indigenous business leaders stress the value of investing in financial literacy and company planning, diversifying sources of income, and cultivating strong ties with the community
Working with advisors who are culturally competent and aware of the resources accessible to Indigenous and LGBTQ+ entrepreneurs is a crucial tactic Through its national programs, the Canadian Gay & Lesbian Chamber of Commerce (CGLCC) offers risk management information and mentorship to LGBTQ+ business owners Experts also suggest using business consulting services, which can provide customized advice on various topics, including market expansion, legal compliance, and insurance. Entrepreneurs may better withstand market swings and unforeseen obstacles by practicing proactive risk management, which includes careful cash flow planning and backup plans
Scaling Up: Mentorship, Networks, and Export Readiness
Access to networks, mentorship, and market opportunities are all necessary for growing a firm The CGLCC’s $25 million 2SLGBTQI+ Entrepreneurship Program is a game-changer for LGBTQ+ entrepreneurs. CGLCC co-founder Darrell Schuurman emphasizes that “Mentorship, procurement access, and export readiness are critical for growth Many LGBTQ+ entrepreneurs have faced discrimination and lost contracts due to their identity This program helps level the playing field ” The program provides resources to assist companies with global presence, corporate procurement, and national mentorship Sectorspecific business support networks and mentorship programs that offer peer contacts and specialized training are beneficial to Indigenous entrepreneurs Developing connections with both mainstream and Indigenous business organizations, taking part in business accelerators, and actively seeking out these resources are all advised by experts
Inclusive Entrepreneurship
Ecosystem funds and knowledge centers offer direct assistance and best practices based on research to LGBTQ+ businesses Experts advise entrepreneurs to invest in expanding their knowledge of credit, cash flow management, and business planning since financial literacy is still a key component of success Advisory sessions can close knowledge gaps and offer emotional support; they are frequently provided through CGLCC programs or Indigenous Business Development Services. Entrepreneurs are urged to use technology to manage their finances more effectively and have access to a broader range of funding sources as digital banking and fintech platforms grow
Next-Gen Financing and Financial Literacy: Tools for Inclusive Economic Growth
Diverse entrepreneurs are finding it easier to get finance thanks to emerging financial models Crowdfunding websites, alternative lending models catered to Indigenous realities, and investment funds run by Indigenous people are becoming more popular
Preparing for Tomorrow: ExpertBacked Steps for 2025 Success
These professional suggestions for Indigenous and LGBTQ+ businesses are based on recent interviews and research:
Establish Connections with Expert Lenders: Look for BDC, Indigenous financial institutions, and groups like CGLCC that are aware of your particular difficulties
Make Use of Advisory and Mentoring Services: Engage in one-on-one advice sessions and mentorship programs to broaden your network and acquire helpful ideas
Spread Out Your Sources of Funding: Don't depend on conventional banks alone
Examine government-backed loans, investment funds, grants, and crowdsourcing
Invest in Financial Literacy: Attend workshops and training sessions on risk management, financial flow, and company planning.
Adopt Digital Tools: Simplify access to finance and financial services by utilizing business navigators and digital banking systems
Advocate for Yourself: Take the initiative to look for alliances, certifications, and opportunities that can lead to new markets, such as Rainbow Registered for LGBTQ+ businesses
Diverse entrepreneurs can create robust, scalable companies that support inclusive economic growth in Canada by following these guidelines
SMALLBUSINESS
Inclusive Entrepreneurship
In Canada, LGBTQ+ and Indigenous business owners are negotiating a quickly evolving financial environment Growth is now easier than ever because of more mentorship, targeted investment, and cutting-edge financial technologies Diverse entrepreneurs may overcome obstacles, control risk, and grow their businesses in 2025 and beyond by utilizing professional guidance and the resources that are accessible
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
Disclaimer: This article is based on publicly available information intended only for informational purposes CanadianSME Small Business Magazine does not endorse or guarantee any products or services mentioned Readers are advised to conduct their research and due diligence before making business decisions
Sage and MNP Digital partner to empower Canadian businesses to thrive and grow
By: Juha Harkonen – VP Operations and Commercial Partnerships, Sage
With the Canadian and the global economies in flux, Canadian small and medium-sized businesses (SMBs) are under immense pressure to think and operate differently Agility, innovation, and data-driven insights are required to deftly navigate the current landscape while setting them up for future success
Modernizing financial operations can not only improve financial reporting and uncover efficiencies but also provide greater visibility across the business to make smarter, faster decisions and respond to sudden market shifts. Canadian businesses are ahead of the curve as 94% of Canadian SMBs indicated that digital technologies are integral to their revenue strategies, compared to 87% globally, according to our latest Small Business, Big Opportunity survey
Rapid adoption of technologies like AI, automation, and digital platforms can provide small businesses with a competitive edge, allowing them to streamline operations and improve customer experiences However, businesses are rarely static and a one-size-fitsall approach doesn’t provide the flexibility and scalability Each business has unique needs and requires a tailored approach to allow them to thrive
Delivering Tailored Solutions
Custom solutions are designed to grow with the business As operations expand, whether through new markets, higher transaction volumes, or added services, a tailored system that adapts with the business helps to ensure financial infrastructure remains an asset and enabler for future growth, not a bottleneck
It is with this focus on delivering tailored solutions that Sage began partnering with national professional services firm MNP MNP Digital is the fastest-growing service line in MNP's advisory practice and has been partnering with Sage since 2018 to help Canadian businesses modernize. Together, Sage and MNP Digital provide tailored advisory and digital solutions that improve efficiency, reduce costs, and enable long-term growth
Going Beyond Technology to Deliver Value
MNP Digital’s collaboration with Sage goes beyond technology, it’s about empowering Canadian businesses to simplify complexity, modernize their operations, and unlock new growth opportunities. In today’s fast-changing landscape, companies are under pressure to adapt, and MNP’s expertise helps them do just that
“We help businesses focus on what matters,” explains Dan Caringi, Partner at MNP Digital “We streamline complex processes and turn technology into a powerful advantage, enabling our clients to make confident decisions and focus on their long-term success It’s not about technology alone It’s about people, process, and technology working in harmony to create lasting value ”
Rather than forcing businesses into a one-sizefits-all solution, MNP works closely with each client to develop tailored strategies that match their culture, industry, and goals. By integrating Sage solutions like Sage Intacct, MNP Digital enables businesses to:
Gain Real-Time Financial Insights: Move from static, manual reporting to dynamic dashboards that provide instant visibility into financial performance
Enhance Operational Efficiency: Automate routine processes and reduce the burden of manual tasks, freeing teams to focus on strategic growth initiatives
Make Faster, Smarter Decisions: With modern financial systems, business leaders can act decisively, using data to drive their next move and stay ahead of the competition
Improve Resilience and Scalability: Sage’s cloud-based solutions help businesses scale with confidence, adapting seamlessly to market changes and growing business needs
Helping Businesses Overcome Unique Challenges
MNP’s client-centric approach has delivered measurable outcomes for organisations across Canada By leveraging Sage Intacct, they’ve helped clients overcome challenges and achieve new levels of success
For example, Pat’s Auto Supply, an auto part supplier for British Columbia and northern Alberta, transformed its stock transfer management with Sage Intacct, cutting processing time from seven hours to just 20 minutes per month, and gained real-time inventory insights Monthly bank reporting time was reduced from six hours to less than one hour
Additionally, Solutions Services, a mainstay in Alberta’s oilfield sector, turned to Sage and MNP Digital to help reduce time spent on purchase order processing The company took on an ambitious five-month timeline, seamlessly integrating Sage Intacct with their existing ticketing and expense management systems. The transformation has reduced time spent on procession and administrative tasks by 25 per cent, allowing them to maximize productivity without the need to hire more staff and increase labour costs
These cases are just a sliver of the success of the partnership However both show the true value, which is the ability to understand client needs and then providing them with the custom solutions needed to succeed
Sage and MNP Digital are committed to doing the right thing for clients and helping them expand beyond their current abilities and grow to new heights By understanding the clients’ needs and current pain points, Sage and MNP Digital are more than service providers They’re committed, trusted partners helping small and medium-sized businesses across the country navigate a complex economic landscape and achieve longterm success.
Small Business Magazine, Ryan Sydor, Area Vice President of Canadian Commercial Sales at Okta, discusses the evolving cybersecurity landscape for small and medium-sized businesses. With over two decades of experience in technology and enterprise sales, Ryan sheds light on the rising risks SMBs face due to outdated password management systems and the increasing importance of modern identity solutions He emphasizes the shift towards passwordless authentication and multi-factor security measures as essential steps for businesses looking to safeguard their operations against the growing threat of cyberattacks Ryan also offers practical insights on how Canadian SMBs can enhance security, improve productivity, and build a culture of digital resilience with the help of innovative identity management solutions
Interview by SK Uddin
Ryan Sydor is a sales leader with extensive experience in the technology and enterprise sectors Currently serving as the Area Vice President of Canadian Commercial Sales at Okta, Ryan has been instrumental in leading and expanding Okta's Canadian market presence since June 2022
Previously, Ryan held several senior roles at Salesforce, including Vice President of Manufacturing, Automotive, and Energy, where he focused on industry-specific solutions. Before Salesforce, he was a Senior Director of Sales at Clio, a legal practice management software company, where he helped scale and train the sales team and build out the Toronto sales office.
Ryan is a long-time member of Pavilion, an organization dedicated to helping senior executives expand their skill sets, and a graduate of its CRO School He holds a B Com in Marketing from the University of Guelph, an MBA from Schulich School of Business, and a certificate in Public Relations from Ryerson University
Passwords remain the default security method for many businesses, yet breaches and credential theft are on the rise. Why do you believe traditional passwords are no longer sufficient, and what are the most common misconceptions organizations have about password security?
Canadian SMBs often juggle dozens of applications across marketing, HR, and customer service This complexity creates opportunities for password fatigue, forgotten credentials, and risky habits, such as password reuse or sharing
Traditional passwords are often the weakest link in cybersecurity, with 80% of web application breaches linked to compromised credentials Despite this, many businesses still rely heavily on passwords, believing complex strings or password managers alone provide sufficient protection This is a risky misconception
Passwords don’t change often and can easily be stolen, phished, or reused across different accounts, which increases the risk of security breaches At Okta, we have fully embraced passwordless and help Canadian SMBs adopt this approach Passwordless authentication reduces attack surfaces by eliminating passwords, the most common target for hackers It also decreases login failures and reduces IT support costs, enabling employees to focus on their work without frustrating password resets
Okta has championed passwordless authentication and identity-first security. Can you walk us through how passwordless technology-such as multi-factor authentication-reduces risk and improves both security and user experience for Canadian small and medium-sized businesses?
In a landscape where AI-driven attacks are increasingly sophisticated, SMBs need security that keeps pace Passwordless technology offers a scalable, efficient solution that enhances operational agility, strengthens defences, and boosts employee satisfaction All critical for small and medium businesses striving to compete and grow
The core issue with passwords is that they are inherently vulnerable The solution is moving beyond passwords to more secure, phishingresistant authentication methods Passwordless technology strengthens security and improves user experience by removing the risks of password management
Many SMBs rely on shared logins for platforms like social media and SaaS tools. What unique security and accountability challenges does password sharing create in the workplace, and how can organizations address these risks effectively?
Password sharing is a silent threat that’s often normalized in SMBs, especially when teams rely on shared logins for tools like Instagram and LinkedIn While convenient, it creates serious issues: no audit trails, poor offboarding, and increased risk of human error or malicious access
Without visibility into who’s accessing what, businesses can’t track accountability A deleted post, a data leak, or even a locked account becomes a mystery And when employees leave, lingering access puts sensitive data at risk, particularly if those credentials are reused across apps.
Okta’s research shows the average Canadian SMB uses over 70 different apps Managing access without strong identity controls can become unmanageable Shared credentials are also more likely to be stored insecurely or passed around through emails or chats, prime targets for cybercriminals
To address these risks, SMBs should adopt an identity management tool This enables individual logins, enforces multi-factor authentication, and allows for precise access control It also provides clear visibility and simplifies onboarding and offboarding
Beyond the obvious security threats, what are some hidden costs or operational inefficiencies that businesses face when they lack proper password management or identity solutions? How does Okta help organizations realize tangible benefits from modernizing their approach?
Poor password management doesn’t just open the door to cyber threats; it also drains productivity, weakens customer trust, and burdens IT teams Without modern identity solutions, employees lose time juggling multiple logins, while IT staff are overwhelmed with constant password resets and access issues These hidden inefficiencies undercut overall business performance
The financial risks are equally real In Canada, one in five SMBs spends over $200,000 recovering from attacks, often driven by identity-related breaches And beyond dollars, there’s the psychological cost cyberattacks hurt morale and leadership confidence, undermining long-term resilience
Okta helps organizations shift from reactive to proactive By eliminating passwords and embracing modern identity tools like adaptive MFA and single, secure access points, SMBs reduce human error and boost employee confidence
As a leader in the Canadian tech sector and an advocate for cybersecurity education, what final advice would you offer to SMB leaders looking to strengthen their digital defences and foster a culture of security within their organizations?
Start with the mindset that cybersecurity is a shared responsibility, not just an IT function
Building a strong security culture means empowering every employee to recognize threats and take ownership of digital safety
Many SMBs still rely on basic tools or wait until after a breach to invest in security But the cost of inaction is steep, financially and emotionally Attacks can decrease morale and take a personal toll on leadership and teams alike. Yet only 47% of SMBs regularly train employees on best practices.
My advice: make identity security second nature Adopt tools like passwordless access and biometrics that reduce friction while strengthening protection Just as importantly, back those tools with ongoing training and transparent communication Build an environment where employees understand their role in defense and feel equipped to act
Security isn’t a one-time investment, it’s a longterm commitment But with the right technology and a collective mindset, SMBs can build digital resilience and focus confidently on their future
Navigatin g Cana da ’s 2025 Comm ercial
Insuran ce L an dscape : Key Insights for Small Busin esse
Navigating Canada’s 2025 Commercial Insurance Landscape:Key Insights for Small Businesses
s
By Maheen Bari
The commercial insurance market in Canada is stabilizing and becoming more competitive in 2025, which presents small firms with both new opportunities and problems Insurers have turned their attention to risk management, sustainable pricing, and customer-centric innovation following years of rate increases and capacity constraints In order for Canadian SMEs to successfully navigate the changing insurance market, this paper examines the most recent trends, pricing projections, and risk management techniques
Stabilization of Commercial Insurance Pricing
Canada's commercial insurance prices have started to level off after years of fluctuation The Insurance Bureau of Canada (IBC) reports that steady pricing and premium reductions persisted throughout the first quarter of 2025, with enhanced market capacity, better underwriting performance, and higher investment income all playing a part According to Marsh Canada, premiums for all main product lines including cyber, property, and liability insurance dropped by 3% in the first quarter of 2025
With new entrants and incumbent insurers increasing their risk appetite, this competitive environment has led to more predictable renewals and, in some cases, rate reductions for companies with clean claims histories; however, premiums may remain high or even rise for companies with significant losses or those located in disaster-prone areas, highlighting the significance of effective risk management
Ample Market Capacity and Competitive Conditions
Canada still has a sizable market for commercial risks, and both new and old insurers are looking to increase premiums For insureds, this has resulted in improved terms and more advantageous circumstances, particularly in the property and general liability lines Premium savings have resulted from the entry of new competitors; when markets vie for a company ' s risk, some companies have seen rate reductions of more than 10% The inflow of capital and heightened competition have helped to counteract the upward pressure on rates, even though insured losses from natural disasters hit records in 2024 Companies are urged to take advantage of these circumstances by comparing quotes and negotiating better terms for coverage
ImageCourtesy:Canva
2025 Risk Management Techniques
As things stabilize, insurers are paying more attention to risk profiles. Companies can obtain better terms and reduced premiums by investing in proactive risk management Important tactics consist of:
Preparing for Early Renewal: Start discussing renewals well in advance and give insurers thorough and convincing valuations
Smart Building Technologies: Using automated systems and smart sensors can help identify and stop losses like fires or water leaks, which lowers claims and shows a dedication to risk reduction
Business Continuity Planning: To reduce operational disruptions from severe weather or other catastrophes, it is essential to create or update business continuity plans
Precise Insurance-to-Value (ITV): Reviewing property values on a regular basis guarantees sufficient coverage and prevents underinsurance, which is a rising issue for Canadian businesses.
Alternative Risk Transfer: In place of traditional insurance, some SMEs are looking into structured fronting or parametric coverage, particularly in high-risk industries
Natural Catastrophes and Regional Variation
Even though the market is generally stable, natural disasters are a significant worry Events such as hailstorms in Calgary, flooding in Ontario and Quebec, and wildfires in Jasper resulted in insured losses of approximately $7 billion over the past year Companies in high-risk areas could have to deal with more stringent underwriting, more deductibles, and fewer options for coverage Businesses that have strong loss prevention procedures in place will be rewarded by insurers who are increasingly evaluating and pricing these risks using data-driven models The need for SMEs to give resilience and disaster preparedness top priority is highlighted by the federal government's report that Canada is warming at twice the rate of the rest of the world For many, navigating exclusions and ensuring proper protection requires close collaboration with insurance consultants
Data-Driven Decisions and Technology Trends
Lower interest rates have increased competition among insurers, not only leading to aggressive pricing but also raising concerns about long-term market discipline and potential exclusions in policies SMEs should carefully review policy details and stay informed about technological advancements that can support their risk management efforts Insurers embrace technology and data analytics to improve risk assessment, pricing, and claims management This means more accurate underwriting and, potentially, more competitive pricing for those with firm risk profiles The rise of digital platforms also improves customer experience, streamlining policy management and claims processes, but greater automation may result in fewer in-person interactions, so it is still essential to maintain a close relationship with insurance advisors
The Canadian commercial insurance market in 2025 not only provides a more stable and competitive environment for small businesses, but it also requires more attention to policy details and risk management. By taking advantage of market conditions, investing in resilience, and collaborating with advisors, SMEs can obtain the coverage they require to safeguard their operations and prosper in the face of persistent environmental and economic challenges
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
Disclaimer: This article is based on publicly available information intended only for informational purposes CanadianSME Small Business Magazine does not endorse or guarantee any products or services mentioned Readers are advised to conduct their research and due diligence before making business decisions
rian Veloso
his exclusive interview with CanadianSME Small iness Magazine, Brian Veloso, Managing Director for ada at SAP Concur, shares his expert perspective on evolving financial landscape for Canadian inesses in 2025 Drawing from over two decades of ustry experience, Brian highlights how finance ders are adapting to emerging risks like geopolitical ability, while advancing the adoption of automation AI to overcome persistent inefficiencies He also phasizes the growing importance of collaboration ween finance and IT teams to address cybersecurity llenges effectively With practical advice tailored for all and medium-sized businesses, Brian outlines a ar path forward to foster resilience, optimize rations, and seize growth opportunities in today’s mplex economic environment.
Future-Proofing Finance with SAP Concur
Interview by SK UDDIN
Brian Veloso has worked with SAP Concur for over 16 years, beginning as the company’s first Regional Sales Executive and moving up consecutively within the organization Now serving as Managing Director for Canada, Brian is a seasoned sales professional with an unmatched combination of business acumen, sales savviness and product knowledge accumulated over the past 23 years through his experience at ADP and Gelco Expense Management At SAP Concur, Brian leads high performing teams and is focused on delivering cloud-based solutions that deliver an effortless experience for employees and total transparency into spending, helping organizations of all sizes run better. Outside of work, Brian enjoys spending time with his dogs and family at the cottage He is also passionate about raising awareness and funds for Make-A-Wish Canada and the SickKids Foundation
The SAP Concur CFO Insights Survey highlights a shift: Canadian finance leaders are increasingly concerned about geopolitical tensions, while climate regulation worries have dropped. What does this change reveal about the evolving priorities and risk landscape for Canadian businesses in 2025?
Canadian businesses are navigating a rapidly shifting risk landscape, and CFOs are increasingly stepping up as strategic navigators, not just stewards of the balance sheet
Geopolitical tensions and global trade dynamics are reshaping external risks, forcing finance leaders to constantly reprioritize their agendas
The 2025 CFO Insights Survey reflects this shift: concern over geopolitical instability has doubled year-over-year (from 15% to 30%), while worsening economic conditions remain the top worry for half of CFOs surveyed
At the same time, the decline in concern over climate regulations likely signals a maturing response many organizations have already embedded ESG compliance into their operations, and the domestic regulatory environment feels more stable, at least for now
In short, CFOs are recalibrating their focus, balancing long-term sustainability with the immediate demands of geopolitical and economic uncertainty.
Despite significant adoption of AI automation, manual processes remain a top internal challenge for over a third of finance leaders. Why do you think these inefficiencies persist, and what steps can SMBs take to overcome them?
While many businesses are embracing AI and automation, internal inefficiencies, particularly manual processes, continue to be a significant drag on finance departments. The survey highlights this paradox, showing manual processes are still a top challenge for 43% of finance leaders, even with 63% automating office tasks This persistence is often due to underlying barriers that prevent automation from being fully effective, such as poor data visibility (53%), limited ease-of-use and user adoption (43%), and underdeveloped reporting (47%)
To truly overcome these inefficiencies, SMBs need integrated technology solutions Platforms that provide end-to-end automation of processes like expense and invoice management leverage AIdriven analytics to provide data visibility that can drive efficiency and smarter decisions
The report identifies lack of data visibility and limited reporting as major barriers for more than half of Canadian finance leaders. How do these issues directly impact an organization’s ability to navigate uncertainty and pursue growth, especially in volatile economic times?
In today's changing economic climate, operating without clear and comprehensive financial data severely cripples an organization's ability to react and plan effectively.
The survey underscores this challenge, with 53% of finance leaders citing lack of data visibility and 47% pointing to limited reporting capabilities as major hurdles This data blindness directly impacts critical functions; leaders struggle to accurately assess financial health, identify risks, or confidently pursue strategic priorities like cost optimization (80%) or AI investments (70%)
Without insight, pivoting quickly or making informed decisions about resource allocation becomes difficult, hindering resilience and growth pursuits Solutions that enhance data visibility by automating processes and providing real-time insights can help CFOs with robust reporting and give them the confidence to navigate financial decisions during uncertainty.
The survey indicates a split in the C-suite over who should lead cybersecurity efforts, with finance and IT not always aligned. Why is cross-functional collaboration between Finance and IT so crucial for effective cybersecurity, and how can organizations foster this partnership?
Effective cybersecurity in the modern business landscape demands a unified approach, recognizing that it's a critical business risk with significant financial consequences, not just a technical issue The survey reveals a disconnect here, with a split view on leadership (53% favoring joint vs. 47% IT only) and low planned collaboration (17%) This gap is problematic because Finance understands the budget needs, potential financial impact of breaches, and ROI of security investments (reflected in 63% planning budget increases), while IT holds the technical keys
Fostering this crucial partnership requires establishing shared cybersecurity goals, creating regular joint planning sessions, and ensuring mutual understanding of how cyber threats impact both infrastructure and financial health, especially as 47% are adapting growth plans due to cyber threats Integrated financial and operational systems, like those managing expenses and invoices, support this by providing shared data insights vital for informed risk management across departments
As we look ahead, what final advice would you offer to Canadian small and medium-sized business leaders striving to achieve growth and resilience in a rapidly changing business environment?
Navigating today's dynamic business environment successfully requires SMBs to strategically focus on both efficiency and informed decision-making. The survey insights point towards increasing investment in automation and AI as key drivers for finance leaders, indicating a clear path to overcoming challenges and seizing growth opportunities My core advice is to lean into these investments, prioritizing technologies that optimize costs and enhance visibility
However, technology must be paired with strong internal alignment; fostering cross-functional collaboration and shared responsibility for growth is vital for achieving true resilience Implementing integrated tools that streamline everyday tasks like expense and invoice management while simultaneously providing leaders with a clearer, connected picture of the business's financial health, is crucial This combination of smart technology adoption and collaborative insight enables SMBs to remain agile and resilient against future uncertainties
Disclaimer: The views and opinions expressed in this interview are those of the interviewee and do not necessarily reflect the official policy or position of CanadianSME Small Business Magazine This content is provided for informational purposes only, with the aim of supporting Canada’s small and mediumsized business community through shared insights and experiences
Supplier Diversity and Inclusive Procurement:
How Canadian Corporations Are Supporting LGBTQ+ and Indigenous Businesses
By Maheen Bari
In 2025, inclusive procurement and supplier diversity are changing the corporate environment in Canada Companies and government organizations are promoting economic growth, creativity, and social equality by purposefully procuring goods and services from underrepresented groups, such as LGBTQ+ and Indigenous enterprises This article examines the most recent developments, noteworthy projects, and the real-world effects of supplier diversity policies on minority-owned companies across Canada
The Rise of Supplier Diversity in Canada
Proactive measures that guarantee companies owned by historically underrepresented groups have equitable access to procurement procedures are referred to as supplier diversity. This movement has accelerated in Canada because of corporate sector leadership and federal policy Public Services and Procurement Canada (PSPC) introduced the Supplier Diversity Action Plan with the goal of lowering obstacles and improving opportunities for suppliers from underrepresented groups, such as LGBTQ+ and Indigenous business owners The policy encourages agencies to take into account both financial and non-financial value when awarding contracts, incorporating socio-economic aspects into the procurement process Corporately, forward-thinking businesses are integrating diversity objectives into their supply chains because they understand that a varied supplier base offers new insights, adaptability, and a competitive edge
With pilot programs focusing on women, Black, Indigenous, and LGBTQ2+ companies in particular, these policies mandate that government agencies take socioeconomic outcomes into account in all procurements For instance, new initiatives for LGBTQ2+ vendors are being established through continuous conversations, and recent pilots have increased procurement options for Indigenous and Blackowned firms
Unlocking Opportunity: How Government Initiatives Empower Underserved Entrepreneurs
The advancement of inclusive procurement in Canada is mainly dependent on the federal government's Supplier Diversity Action Plan and Policy on Social Procurement
In order to ensure that underrepresented groups have access to opportunities and to inform future policy, the government is also gathering statistics on supplier diversity The federal government is establishing a standard for inclusivity and inspiring other industries to follow suit by using its purchasing power, which will ultimately increase the competitiveness and success of diverse Canadian enterprises
Corporate Leadership: TELUS and Beyond
The importance of supplier diversity is becoming more widely acknowledged by Canadian businesses. For instance, TELUS has set up a thorough Supplier Diversity and Indigenous Procurement Program that gives women, minorityowned businesses, Indigenous people, and 2SLGBTQ+ people equal access to procurement opportunities To find qualified diverse suppliers, the company collaborates with advocacy and certification groups such as the Canadian Aboriginal and Minority Supplier Council (CAMSC) and the Canadian Gay and Lesbian Chamber of Commerce (CGLCC) In order to enable procurement teams to find and interact with varied companies when opportunities present themselves, TELUS also invites suppliers to register in their database In addition to demonstrating a dedication to inclusivity, these programs give businesses access to fresh concepts and build more robust, resilient supply chains
Certification and Networking: Opening Doors for LGBTQ+ and Indigenous Businesses
Impact and Outcomes: Economic and Social Benefits
Initiatives to diversify suppliers are producing quantifiable advantages for minority-owned companies as well as the Canadian economy at large. These initiatives give LGBTQ+ and Indigenous business owners access to new markets, boost sales, and support company expansion Diverse supply chains foster innovation, enhance risk management, and represent the ideals of Canada's multicultural culture, according to businesses and government organizations Addressing historical injustices and promoting reconciliation with Indigenous people are benefits of incorporating socioeconomic goals into procurement decisions The impact will increase as more businesses implement supplier diversity initiatives, fostering a more welcoming, competitive, and successful business climate for all Canadians
The business environment in Canada is changing due to supplier diversity and inclusive procurement, which is giving LGBTQ+ and Indigenous entrepreneurs important opportunities Canada is creating a more dynamic and egalitarian economy through strong certification programs, corporate dedication, and government leadership These programs will continue to promote resilience, stimulate innovation, and guarantee that every company has an equal opportunity to thrive as they grow For minority-owned companies looking to participate in supplier diversity programs, certification is a crucial prerequisite Businesses that are at least 51% LGBTQ-owned and run can be certified by organizations such as the CGLCC, which puts them in direct contact with government and corporate purchasers that want to diversify their supply chains. Similarly, Indigenous suppliers are given certification by CAMSC and the Canadian Council for Aboriginal Business (CCAB), which increases their visibility and legitimacy during the procurement process
Certified businesses have regular opportunities to meet procurement professionals, exchange best practices, and form relationships through networking events like CGLCC's Queer Bizz Supplier Diversity calls These networks and certifications guarantee that diverse companies are given consideration for significant contracts, level the playing field, and lessen discrimination
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
Disclaimer: This article is based on publicly available information intended only for informational purposes CanadianSME Small Business Magazine does not endorse or guarantee any products or services mentioned Readers are advised to conduct their research and due diligence before making business decisions
The 2SLGBTQI+ Entrepreneurship Program:
New Opportunities for LGBTQ+ Business Owners in Canada
By Kripa Anand
Over 100,000 enterprises are run by 2SLGBTQI+ entrepreneurs in Canada, who employ over 435,000 people and play a significant role in the country's economy However, institutional obstacles have impeded their progress, including restricted access to corporate opportunities, mentorship, and financial backup and support The federal government is setting new standards in 2025 with its $25 million 2SLGBTQI+ Entrepreneurship Program, which provides focused assistance to boost the success of LGBTQ+ entrepreneurs
Why the Program Matters
2SLGBTQI+ entrepreneurs have historically faced particular difficulties despite their economic influence According to a 2021 poll conducted by Deloitte and the Canadian Gay & Lesbian Chamber of Commerce (CGLCC), 20% of 2SLGBTQI+ business owners said that their identity was a direct cause of their company ' s challenges, with funding availability ranking as their top worry LGBTQ+ founders received just 0.5% of all startup funding in Canada in 2019. These differences highlight the necessity of specific initiatives to promote an inclusive business climate and level the playing field To fill these gaps, the new federal program offers export preparation, finance, and mentorship to assist 2SLGBTQI+ enterprises in growing and competing worldwide
Program Overview and Administration
The 2SLGBTQI+ Entrepreneurship Program was cocreated with community organizations and launched in 2024 It is run by the CGLCC, Canada's premier LGBTQ+ business advocacy organization The $25 million investment made by the initiative is the first of its kind in Canada and demonstrates a dedication to diversity and economic inclusion
Together, the initiative's three pillars the Knowledge Hub, Ecosystem Fund, and Business Scale-Up provide all-encompassing assistance
This framework builds the ability, expertise, and networks necessary for long-term success, benefiting individual entrepreneurs and the larger ecosystem of support organizations
Business Scale-Up: Mentorship, Procurement, and Export Readiness
The program ' s core component, the Business Scale-Up, is intended to assist 2SLGBTQI+ entrepreneurs in launching, expanding, and maintaining their enterprises Key features are:
The National Mentorship Program pairs seasoned business executives with t t id i t d
Corporate Procurement Access: Assisting LGBTQ+ companies with certification and corporate contract competition, which opens up new markets and clientele
Export readiness is the provision of tools and instruction, such as workshops, market research, and networking opportunities, to assist companies in growing globally
Pilot Loan Program: Creating cutting-edge lending options to meet the requirements of 2SLGBTQI+ business owners, who frequently encounter obstacles when attempting to obtain funding through conventional channels.
By bolstering these areas, the initiative hopes to increase LGBTQ+ firms' productivity, creativity, and competitiveness, ensuring their success in both home and international markets
Ecosystem Fund: Strengthening Community Support
The Ecosystem Fund gives Canadian non-profits the ability to carry out initiatives that directly assist 2SLGBTQI+ business owners Twelve organizations, including advocacy groups and regional LGBTQ+ chambers of commerce, received $2 8 million in February 2025 to improve business planning, offer educational materials, and increase public understanding of the difficulties LGBTQ+ company owners experience. These initiatives range from specialized training for innovation and export to mentorship programs in rural areas The Ecosystem Fund ensures that resources reach communities where they are most needed by investing in the organizations that assist entrepreneurs, thereby contributing to developing a more resilient and inclusive entrepreneurship ecosystem
Knowledge Hub: Research and Data for Lasting Change
The absence of trustworthy information about the needs and experiences of 2SLGBTQI+ entrepreneurs has been a significant obstacle By conducting research and gathering data on the entrepreneurship landscape for the 2SLGBTQI+ community, the Knowledge Hub, which is led by the CGLCC in collaboration with academic institutions, fills this knowledge vacuum
Future policy will be informed by this research, which will also help identify best practices and raise awareness of systemic hurdles The Knowledge Hub guarantees that support programs continue to be applicable and successful over time by fostering a better understanding of the opportunities and difficulties LGBTQ+ entrepreneurs face
Looking Ahead: Building an Inclusive Economy
In Canada, the 2SLGBTQI+ Entrepreneurship Program is a significant step toward economic inclusion. The initiative enables LGBTQ+ entrepreneurs to develop and flourish by filling financial gaps, increasing mentorship, and strengthening the support system The LGBTQ+ community, as well as the Canadian economy as a whole, will be impacted as more companies use these services Maintaining this momentum and guaranteeing that all entrepreneurs can reach their full potential will require ongoing cooperation between the government, industry, and advocacy organizations
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
Disclaimer:This article is based on publicly available information intended only for informational purposes CanadianSME Small Business Magazine does not endorse or guarantee any products or services mentioned Please follow up on their research and diligence before making business decisions
For Canadian SMEs, succession planning is an essential yet frequently disregarded aspect of long-term company success There has never been a greater need for careful, inclusive, and tax-efficient transition solutions as a wave of business owners approach retirement Businesses are not only future-proofed when diversity and inclusion are incorporated into leadership pipelines, but they also foster creativity and resilience in a market that is changing quickly
The Importance of Early and Inclusive Succession Planning
Retirement is the main reason given by two-thirds of Canadian business owners who intend to leave their company over the next five years, according to the Canadian Federation of Independent Business Because it gives owners and stakeholders greater options and flexibility, early planning is crucial
Future-Proofing Canadian SMEs:
Integrating Diversity and Inclusion into Leadership Succession
By Sk Uddin
Selecting a successor is only one aspect of inclusive succession planning; another is creating a diverse leadership pipeline that considers the changing demographics of Canada's workforce
This entails spotting and nurturing talent from underrepresented populations, such as women, Indigenous peoples, recent immigrants, and LGBTQ+ individuals. In addition to improving innovation and decision-making, inclusive leadership communicates to customers and staff that the company values representation and equity, which can provide it a competitive edge in the current market
Building an Inclusive Leadership Pipeline
The first step in developing an inclusive leadership pipeline is a top-level commitment Boards and company owners should:
Recognize and resolve unconscious prejudice in hiring and advancement procedures
Adopt cultural competency by promoting diversity of thought and offering training
Within leadership teams, acknowledge privilege and cultivate empathy
Fund sponsorship and mentoring initiatives for staff members from underrepresented groups.
Developing talent and guaranteeing that every employee has access to opportunities for advancement depend on these four pillars of inclusive leadership: bias awareness, cultural competency, privilege recognition, and empathy Making sure the next generation of leaders represents the community and customers the company serves can be achieved by routinely evaluating succession plans and leadership development initiatives through a diversity lens
Leadership Development
Key Tax Considerations in Succession Planning
For a business move to be successful, tax planning is essential. Using family trusts, estate freezing, and capital gains tax has the most significant tax ramifications for Canadian business owners
Capital Gains Tax: Business owners may be subject to capital gains tax on the increased value of their company when they transfer ownership The tax burden can be significantly decreased by taking advantage of the Lifetime Capital Gains Exemption (LCGE), which, as of 2025, permits up to $1,016,836 in tax-free capital gains on the sale of shares of eligible small business corporations
Estate Freezes: This tactic delays capital gains tax and promotes wealth transfer by locking in the business's present value for the owner and transferring future growth to successors
Family Trusts: By transferring ownership to family members or several successors, trusts can facilitate income sharing and increase succession flexibility.
Management Buyouts (MBOs): Since management is already acquainted with the company, selling to key personnel is frequently more successful than selling to outside parties Clear financial plans and early participation are essential for a seamless transition
Seeking advice from tax and legal professionals guarantees that the succession plan selected is tax-efficient and complies with Canadian laws
Legal and Practical Steps for a Smooth Transition
A strong succession plan should cover the following areas:
Business valuation: Get an unbiased opinion to guarantee equitable value for all stakeholders
Documentation: To protect stakeholders and define the terms of transition, draft buy-sell agreements, shareholder agreements, and updated wills are needed
Contingency planning: To ensure business continuity, be ready for unforeseen circumstances like illness or an abrupt exit
Communication: To control expectations and lessen conflict, involve family members, coworkers, and other stakeholders as soon as possible
Leadership development: Make continuous investments in mentoring and training to get successors ready, emphasizing inclusivity and diversity
Expert advisers can offer customized advice, assisting owners in navigating the challenges of succession planning and maximizing results for all parties
Building a legacy of inclusive leadership and sustained growth is the goal of succession planning, not merely passing the torch In an increasingly dynamic and diverse market, Canadian SMEs can position themselves for longterm success, protect wealth, and facilitate a seamless transition by utilizing tax-efficient solutions and incorporating diversity and inclusion into leadership pipelines
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
Disclaimer: This article is based on publicly available information intended only for informational purposes CanadianSME Small Business Magazine does not endorse or guarantee any products or services mentioned. Please follow up on their research and diligence before making business decisions
Jodi Kovitz
CEO of the Human Resources Professional Association (HRPA)
In this exclusive interview with CanadianSME Small Business Magazine, Jodi Kovitz, CEO of the Human Resources Professional Association (HRPA), shares her visionary perspective on how technology, equity, and innovation are reshaping the landscape of HR leadership and workplace culture. With a proven track record of championing diversity through initiatives like #movethedial and spearheading transformative campaigns such as #Tech4SickKids, Jodi emphasizes the critical role HR professionals play in guiding organizations through rapid change She discusses the ethical and legal challenges surrounding AI in hiring, pay transparency, and the importance of humancentered leadership in an increasingly digital world Offering strategic insights and practical advice, Jodi inspires small and medium-sized businesses to cultivate inclusive, resilient workplaces where people and technology thrive together
Interview by Kripa Anand
Leading HRInto Tomorrow
Jodi Kovitz is the CEO of the Human Resources Professional Association (HRPA) and a global brand builder with a deep commitment to equity and innovation. She founded #movethedial, a movement supporting women's participation in tech, impacting over 60,000 people globally Recognized as one of Canada's 25 Women of Influence and among WXN's 100 Most Powerful Women, Jodi has been featured in Forbes Women She co-chaired the #Tech4SickKids campaign, contributing to a $1 3 billion fundraising effort Jodi holds an HBA from Ivey Business School, an LLB from Osgoode Hall, and an honorary Doctorate of Laws from the University of Calgary She is also the author of Go Out of Your Way, a book on the power of genuine connection
In your role as CEO of the HRPA, how do you see the intersection of technology, equity, and innovation shaping the future of HR leadership and workplace culture in Ontario and beyond?
Technology, equity, and innovation are reshaping our workplaces and HR leaders are uniquely positioned to guide their people through this transformation by taking the lead in navigating the unknown Forbes recently highlighted adaptability as one of the most critical skills shaping the future of work and I couldn’t agree more that this skill has become increasingly important To me, adaptability is not just about being flexible in the face of change; it’s about helping others grow through it For HR leaders, that means creating space for learning, supporting people through uncertainty, and building confidence to try new things
At the same time, we need to lead with intention Tools like AI can unlock enormous potential but only if they’re used thoughtfully, inclusively, and with human-centered approach McKinsey’s research shows that organizations that prioritize innovation and adaptability don’t just perform better, they attract top talent and build cultures that last Doing so equitably is that much more impactful
Still, we can’t overlook the emotional side of transformation Not everyone moves at the same pace Real and effective leadership is about meeting people where they are listening, adapting, and making sure no one gets left behind
Following the HRPA 2025 HR Law Conference, what are the most pressing legal and ethical challenges HR professionals face todayespecially regarding AI in hiring, pay transparency, and complex terminations?
This year ’ s HR Law Conference brought many important topics to the table One thing is clear: in our rapidly changing world, legal and ethical conversations must stay at the forefront As technology and expectations evolve, we need to keep checking in making sure our policies move with the times
AI is a key example When used in hiring and other HR practices, it can drive real efficiency But we must stay alert to risks around bias, privacy, and transparency We can’t automate our judgment and humanness HR leaders must be purposeful: building safeguards, staying compliant, and asking questions to ensure we use technology in ways that enhance trust, fairness, and the human experience at work
Pay transparency is another critical front It’s not just about compliance it’s about earning trust, and that’s essential to building strong, connected team cultures When we align pay practices with our values, we create workplaces that are not only compliant, but fair and inclusive
HR is about more than policies and compliance it’s about people, purpose, and leadership It’s grounded in a strong legal foundation, but truly comes to life through the “human” side ethical decisions, empathy, and the courage to do what’s right
You’ve been recognized as a transformative leader and a passionate connector, from founding #movethedial to co-chairing #Tech4SickKids. How have these experiences influenced your vision for elevating the HR profession and driving systemic change within organizations?
Growth and innovation have always been imperative to shaping my understanding of leadership and organizational culture
At #movethedial, I learned that building a culture of belonging isn't just a nice-to-have it's a strategic imperative This requires intentional leadership, deep listening, and a commitment to embedding IDEA principles into every facet of an organization It's about creating environments where people feel valued, heard, and empowered to do their best work
At #Tech4SickKids, I witnessed the power of community-driven impact By mobilizing the tech sector, we raised millions to modernize SickKids Hospital, integrating AI and data analytics into pediatric care This experience reinforced my belief that systemic change is possible when diverse stakeholders unite with a shared purpose
Now, as CEO of the HRPA, I'm focused on elevating HR as a strategic driver of culture and innovation I’ve seen first-hand that leading with empathy, agility, and commitment to equity while fostering diverse environments is essential The HR profession has the power to transform organizations and help build a more just and inclusive society And these moral imperatives are also strategic advantages Diverse, inclusive workplaces don’t just feel better they perform better
With HRPA’s commitment to supporting over 24,000 members through learning and peer collaboration, what new strategies or initiatives are you most excited about to help HR professionals navigate the rapidly evolving legal landscape and workplace expectations?
The HRPA empowers leaders to navigate the evolving legal landscape and shifting workplace expectations with confidence What excites me most is how we ’ re helping our 24,000+ members stay ahead through real-time legal education, peer collaboration, and practical tools designed to support today’s HR leaders through tomorrow.
We continue to expand our on-demand legal resources, expert-led webinars, and knowledge bank to help members translate complexity into clarity Whether it’s new legislation around emerging technologies, pay equity and transparency, or workplace investigations, our goal is to ensure HR professionals feel informed, prepared, and supported
We’re also doubling down on hybrid and inperson learning experiences, bringing world-class legal experts and innovators to the forefront These events go beyond learning; they spark connection, conversation, and real-time insight
The HRPA is listening to our members, adapting to legal and cultural shifts, and delivering what matters most: strategic, sound, and timely support In a world where the stakes are high, HR leaders deserve trusted resources that help them lead with clarity and confidence and we ’ re here to deliver exactly that.
Finally, what advice would you offer to small and medium-sized businesses striving to create safe, equitable, and future-ready workplaces in today’s complex environment?
The key to building safe, equitable, and futureready workplaces is balancing technical capability with human-centered leadership
We’re in the middle of a technical revolution reshaping industries, making upskilling a competitive must Recent research from the World Economic Forum shows that companies investing in digital and AI skills see greater innovation and long-term growth
But technical skills alone aren’t enough Human skills resilience, empathy, and communication are equally critical These are what help teams navigate change, lead with purpose, and stay connected Harvard Business Review has shown that resilient teams are more engaged, more innovative, and better equipped to thrive in uncertainty
In today’s hybrid and remote work environments, inclusion and equity need to be intentional It’s not just about where people work it’s about how they’re supported, heard, and valued Leaders need to move beyond surface-level communication and create real space for diverse perspectives in decision-making and culture That’s how trust and belonging are built
To small and mid-sized businesses: Be deliberate Invest in both technical and human skillsets Lead with empathy and intention The future of work is here, and the businesses that thrive will be the ones that put people at the heart of everything they do
Disclaimer: The views and opinions expressed in this interview are those of the guest and do not necessarily reflect the official policy or position of CanadianSME Small Business Magazine. This content is provided for informational purposes only and should not be construed as legal or professional advice CanadianSME is committed to promoting diverse perspectives and supporting the growth of Canada’s small and medium-sized business community
Embedded Payments:
Helping Platforms Reimagine Growth for SMBs
In this exclusive interview with CanadianSME Small Business Magazine, Sander Meijers, Canada Country Manager for Adyen, explores how embedded payments are transforming the way Canadian small and medium-sized businesses handle transactions Drawing on his extensive experience working with global leaders like Spotify and Netflix, Sander explains how integrating payment solutions into everyday business platforms can shift payment processing from a routine expense to a strategic asset He shares insights on tailoring technology to fit Canadian SMB workflows, unlocking new revenue streams for SaaS platforms, and enhancing customer loyalty through seamless, omnichannel payment experiences Sander’s practical advice and forward-thinking approach offer valuable guidance for businesses aiming to compete and grow in today’s fast-evolving financial technology landscape.
Interview by Kripa Anandi
Sand ij i h d for A the grow Blen 2017 the Ams In 20 care lead Vall
Sander Meijers
Canada Country Manager for Adyen
Now, Sander is focused on expanding Adyen’s Canadian market operations and continuing to establish the company as the must-have payments solution for enterprise companies in retail, food & beverage, hospitality, platforms, ecommerce and in-store
Could you explain what embedded payments look like for Canadian small and medium-sized businesses and how they can transform traditional payment processing from a commodity into a strategic advantage?
Canadian small and medium-sized businesses often operate on tight budgets and may see payment processing as just another expense According to Adyen research in collaboration with Bessemer Venture Partners, 60% of Canadian SMBs reported greater satisfaction after switching to an embedded payments offering through a SaaS platform, which simplifies operations by putting more tools in one place They allow businesses to manage transactions, reporting, and workflows from a single platform they already use, improving efficiency and cash flow visibility Faster access to funds and streamlined checkouts mean fewer delays and a better experience
Beyond just payment processing, these SaaS platforms can offer value-added services tailored to industry-specific needs, empowering businesses to focus on growth Embedded payments bridge the gap for SMBs that have long been underserved by outdated, one-size-fits-all payment systems or traditional providers With technology that integrates seamlessly into operations, SMBs gain the agility and insights they need to scale efficiently
How does Adyen customize its embedded payment solutions to fit the unique workflows and needs of Canadian SMBs, and what distinguishes Adyen’s approach from other payment providers?
A global financial technology platform, Adyen enables Canadian SaaS platforms to better serve their SMB customers through embedded payments We take our expertise from supporting enterprise businesses like Meta and eBay, and offer that to SaaS platforms, to provide enterprise-grade tools that simplify payments and drive growth for SMBs. Take our partnership with Lightspeed, for example. By integrating Adyen’s technology, Lightspeed transitioned from a referral payments model to a fully embedded solution, enabling restaurants like Boukan in Toronto to streamline operations and improve customer experiences
Leveraging Adyen technology under the hood of SaaS platform businesses, SMBs gain access to powerful tools usually reserved for large enterprises, such as advanced fraud prevention, global scalability, and unified commerce across online and in-person channels These features allow them to optimize workflows and cut costs
Innovations like Tap to Pay on iPhone or reliable terminals showcase our dedication to building what businesses need today and in the future Whether it’s dining out and spotting an Adyen terminal at a local restaurant or hearing firsthand from our customers, we ’ re reminded that these shared successes are what drive us. Adyen isn’t just a payments provider; we ’ re a long-term partner, building with and for our customers
Payment Innovation
With embedded finance now driving significant revenue growth for SaaS platforms, how is Adyen helping Canadian platforms unlock new revenue streams while enhancing value for their SMB customers?
We see embedded finance as a pivotal growth lever, not just for SaaS platforms, but for the SMBs they serve
For example, by embedding Adyen’s solutions, SaaS platforms can help SMBs manage payments more efficiently, automate processes, and access tailored financial insights This creates a more cohesive experience that strengthens customer loyalty On the business side, SaaS platforms benefit financially
Top platforms already generate over 50 per cent of their income from embedded payments, and with Adyen’s infrastructure, unlocking that potential becomes more accessible
Relay, a Toronto-based fintech company that offers a comprehensive business banking and money management platform tailored for SMBs, onboarded over 100,000 SMBs within three months of launching
Our scalability and ease of integration allows platforms like Relay to implement our tools to fit SMB workflows and evolve as their needs grow Still, less than 20% of this market is currently served by these embedded solutions, resulting in millions in uncaptured revenue It's time for platforms to tap into this revenue pool to meet the rising SMB demand
Based on your insights and recent data, what key strategies can Canadian retailers adopt to fortify the shopping experience and build customer loyalty in both online and in-store environments?
Simply put, Canadian retailers must prioritize customer experience across every channel to build consumer loyalty Data from our recent survey found that 81 percent of Canadians are more likely to return to a store that delivers a meaningful or memorable shopping experience
Payment Innovation
Part of that is building a seamless omnichannel experience, because we know that Canadians want the same convenience and speed when shopping online as they do when in-store Despite 66 per cent of Canadians most frequently making purchases online, they have frustrations that lead them to abandon their online carts, like unexpected shipping costs or fees, long or unclear delivery times and a complicated return policy
Creating seamless experiences for Canadians also means implementing their preferred payment methods Retailers should consider offering Tap to Pay options or accepting digital wallets at checkout, which are Canadians’ preferred methods These seemingly small details improve the shopping experience and reduce friction
Looking forward, our research identified that enhanced loyalty programs with personalized rewards is the top experience Canadians want to see in the future of in-store shopping Using insights from customer data, retailers can tailor recommendations and promotions, creating a more engaging experience for shoppers
Ultimately, merging innovative technology with strong customer service is the key to earning customer loyalty
What advice or final thoughts would you like to share with Canadian small and mediumsized businesses looking to leverage modern payment technologies to grow and compete in today’s market?
Canadian SMBs are the backbone of our economy, and fintech can play a crucial role in supporting their growth I’ll finish with a few pieces of advice to help SMBs compete in today’s market:
1 Think of payments not as a back-end necessity, but as a front-line enabler of growth The right fintech can do much more than process transactions; it can optimize your workflow, strengthen customer relationships, and open new revenue streams
2 Invest in scalable solutions and partner with providers that simplify operations while driving growth At Adyen, our end-to-end tools offer flexible payment methods, real-time insights, and localized support to help SMBs succeed In fact, 40% of SMBs in Canada and the U S switch to modern payments for better localized support.
3.Keep your customers at the centre of everything The modern Canadian consumer expects effortless interactions, so offering flexible payment methods like tap-to-pay or digital wallets is crucial These options not only meet customer expectations but also leave a lasting impression
4 Finally, recognize the unprecedented opportunity embedded finance presents Whether through SaaS platforms or direct partnerships, embedding financial tools is the way forward for SMBs to stay competitive and achieve sustainable growth
Start exploring these possibilities today, and don’t hesitate to evolve alongside the technology The future of payments is here, and it’s never been more accessible
Disclaimer: The views and opinions expressed in this interview are those of the interviewee and do not necessarily reflect the official policy or position of CanadianSME Small Business Magazine. The magazine aims to provide insightful and practical information to support the growth and success of small and medium-sized businesses across Canada
Embodied Resilience for Parents
In this exclusive interview with Can Small Business Magazine, Vivian Me founder of Unshakable Parenting a seasoned somatic leadership coach profound insights on nurturing emo security for both parents and leade two decades of global leadership ex and a unique blend of trauma-infor coaching, Vivian offers a transforma perspective on overcoming burnout generational trauma, and cultivatin resilience.
Her practical tools and heartfelt gu provide invaluable support for pare to balance life’s demands and for o seeking to foster healthier, more em workplaces.
Vivian Meraki is a Parenting Expert, Somatic Leadership Coach, and the founder of Unshakable Parenting, a coaching platform that helps parents raise emotionally secure children while healing their own burnout and generational trauma. With over 20 years of global leadership experience including roles with PurposeMed, Field Trip Health, and the United Nations in Afghanistan Vivian blends corporate insight with trauma-informed coaching to create healthier homes and workplaces Her upcoming book, Parenting Through Divorce, and her viral content on TikTok empower parents and organizations alike to ditch the hustle and lead with embodied resilience
Working parents are quietly burning out at record rates. From your experience coaching both individuals and organizations, what are the most overlooked factors contributing to this burnout, and how can companies better support their employees in navigating these challenges?
The mental and emotional load on parents is greater now, more than ever We often say “it takes a village to raise children”, yet many parents have lost access to their village
Vivian Meraki
Parenting Expert | Human Connection Speaker | Founder of Unshakable Parenting
They are raising their children in a far more isolated way than prior generations and don’t have as much support. While many may know this, I don’t think we have fully acknowledged the implications of what this means for parents in the workplace That’s the first factor: the volume of work and expectations continues to go up, while the support and resources available to them has reduced
This leads me to the second factor: expectations in the workplace Convention in the workplace is to keep personal and work separate Yet, people are whole beings The reality is that stress from work spills over to affect a person ’ s personal life and vice versa, despite the best efforts to keep them compartmentalized
The companies that recognize and support their employees as whole people and offer flex days, health benefits that include mental health supports, bereavement leaves, and flexibility around difficult life circumstances are the companies that will foster more workplace satisfaction, productivity, and innovation in the long-run
Interview by Maheen Bari
You champion the concept of “embodied resilience” as an antidote to hustle culture. Can you explain what embodied resilience means in practice, and how it differs from traditional ideas of strength or perseverance, especially for parents and leaders?
The traditional way we define resilience is how much a person can withstand before they break under the pressure, with the aspiration being that you don’t show the stress or any faltering
What I call embodied resilience is instead defined by how quickly you return to your centre - the place where you feel connected, safe, and aligned with yourself Instead of staying static and trying to withstand the high volume of pressure, it is about returning to that place of centre and then turning around to confront the adversity from a place of grounding and strength
The major difference between the two is that the latter acknowledges the state of a person ’ s capacity in the moment, and takes the time to address the gap and to answer the question “what do I need right now?” and then making a choice around how they want to take care of that need as they proceed
For parents and leaders, giving themselves, their families, and their teams the space and grace to notice what they need and to be intentional about what they want to do next can be powerful in reducing burnout and improving relationships, collaboration, and building empowerment
Somatic tools are central to your coaching approach. Could you share a practical somatic technique that parents or even teams can use to recover from emotional overload in the midst of daily stress?
Somatics is a practice that connects us with our bodies. Most people don’t know that 80-90% of our body’s autonomic nervous system - the nervous system responsible for our stress responses - is wired from body to the brain
This means that the majority of what we experience is through the body, not the mind So, the most effective ways to de-escalate from emotional overload is through the body, not the mind
I share a range of somatic practices in my book, Parenting Through Divorce, that will be released in May 2025 Below are two of the simplest and most accessible somatic techniques from it that you can do anytime and anywhere to deescalate a stress response
1 Deep breathing: breathe deeply into your lungs and follow your breath for four counts, and exhale for six counts. The key is that your exhale is longer than your inhale. Doing this tells your brain that you are safe and that your nervous system can de-escalate
2.5-4-3-2-1: Focus on 5 things you can see, 4 things you can touch, 3 things you can hear, 2 things you can smell, 1 thing you can taste
Many parents struggle with setting boundaries, often feeling guilt or pressure to “do it all.” What are some actionable strategies you recommend for establishing healthy boundaries at home and at work, without sacrificing connection or self-worth?
Boundaries are hard to set because self sacrifice has been normalized for many parents Yet, your time and energy are your two most limited and valuable resources - what you say “ yes ” to, by default dictates what you are saying “ no ” to The first strategy is: be intentional about what you are giving up for that “ yes ” Is it what you want to give up? More importantly, are you actually giving something up for the yes? When we say yes to everything, we are actually saying yes to doing nothing well
Secondly, pay attention to how you feel A sign that you could use a boundary is when you feel resentment, blame, or bitterness If that’s the case, adjust for the next time Self-worth is related to boundaries because when you ignore them, you are communicating to yourself that you arent worth listening to and your needs don’t matter For anyone who needs to hear this, your needs matter.
Third, setting healthy boundaries takes practice, and I often recommend that people start with the small things with the people you feel safe setting boundaries with Then work up to bigger things and with people you have a harder time with
As you prepare to launch your debut book, Parenting Through Divorce, what is the single most important message you hope readers especially those navigating major transitions take away from your work? Please share any final thoughts or advice for small and medium-sized business leaders and parents striving for emotional sustainability.
Divorce affects 40-50% of marriages in Canada and the United States It is also one of the most difficult life events that someone will have to navigate, second only to the death of a spouse Yet, it remains a highly stigmatized circumstance with very little social and emotional support.
I’d like my readers to walk away with the permission to recognize just how significant that life event is, and that just because their marriage failed does not mean that they are a failure Regardless of the life transition, there is no shame in asking for help and support The emotional impact of life transitions are often the most complex to navigate - and asking for support can make a big difference They don’t have to go through it feeling alone and overwhelmed
For small and medium-sized business leaders and parents - it can feel like you ’ re carrying the world on your shoulders We prioritize a lot for everyone else - because other people’s livelihoods and your children depend on you
While that is true, you matter too It’s the oxygen mask analogy - that more compassion and care you offer yourself, the more you will have to offer those who matter to you.
Disclaimer: The views and opinions expressed in this interview are those of the guest and do not necessarily reflect the official policy or position of CanadianSME Small Business Magazine This content is intended for informational purposes only and should not be considered professional advice.
Why So Many Millennial Entrepreneurs Are Burning Out
Delia Petrescu is a Toronto-based psychotherapist, psychometrist and the founder of Get Reconnected Psychotherapy Services Her practice focuses on helping clients manage mood, anxiety, and burnout She has created an 8-week Burnout RESET Program She also offers services for the treatment of life transitions, postpartum, infertility, and couples therapy Delia has over a decade of experience working as a psychometrist in various clinical settings, conducting neuropsychological and neuropsychovocational assessments
You’re not just tired...you’re operating in survival mode. You're the founder, the strategist, the accountant, the marketing team You answer emails at midnight, celebrate wins with one eye on the next deadline, and still feel like it’s not enough
If you ' re a millennial entrepreneur, this may sound familiar And it’s not a personal flaw What you ' re experiencing is burnout
Millennial burnout isn’t just emotional, it’s biological and systemic And it’s disproportionately affecting millennials because of both how our brains are wired and how our world is built
The Neuroscience of Burnout
Burnout, Explained By Your Brain
When you ’ re constantly solving problems, juggling roles, and anticipating the next crisis, your brain doesn’t get a break
When your stress response is activated constantly without time to reset, your nervous system suffers Chronic stress can overload the HPA axis (hypothalamic-pituitary-adrenal axis), the system responsible for regulating cortisol and other stress hormones
Your amygdala (fear center) becomes hyperalert, leaving you anxious and reactive
Your prefrontal cortex (responsible for decisionmaking and planning) starts to shut down
Your dopamine system (motivation and reward) becomes depleted
Your body either buzzes with anxiety or feels completely shut down
According to the National Library of Medicine and numerous peer-reviewed studies, prolonged HPA axis dysregulation has been linked to anxiety, depression, and insomnia When that system gets overloaded, your resilience, sleep, digestion, and mood all take a hit But biology is just part of the story The rest? That’s structural
The Entrepreneurial Environment That Fuels It
Millennials were told to find work they love Many did and built businesses around that passion
But no one warned you that passion-fueled businesses are especially vulnerable to burnout
There’s no off switch You’re reachable 24/7
You are your brand Boundaries blur
Rest can feel like lost income or guilt
Add to this the generational backdrop:
Launching businesses in the wake of the 2008 recession
Skyrocketing housing and living costs
Navigating a fully online, comparisonsaturated world
This isn’t just hard... but it’s also unsustainable. Especially when the bar keeps moving and doing less feels like falling behind
Unique Burnout Patterns in Millennial Entrepreneurs
Millennial business owners don’t just get exhausted They get existentially drained You might recognize:
Decision fatigue that makes even small tasks overwhelming
Motivation crashes where even success feels numb
Chronic comparison with founders who “ seem to be doing it all”
Overfunctioning: doing more to avoid feeling like you ’ re failing
Social Media Makes It Worse
What Actually Helps (Beyond SurfaceLevel Self-Care)
1. Know What Your Nervous System Needs
Burnout isn’t a one-size-fits-all It has two primary states:
Hyperarousal (anxiety, restlessness, insomnia)
Hypoarousal (numbness, fatigue, detachment)
Tailor your recovery:
If anxious → Try grounding (e g paced breathing, bilateral tapping, cold water)
If shut down → Use light stimulation (e g upbeat music, gentle movement, human connection)
When every founder's highlight reel is on display, it creates toxic internal pressure You're not comparing your real life to theirs, you ' re comparing your worst moments to their best branding
Studies show that comparison loops fuel burnout
Not because others are happier, but because it looks like they’re coping better. That illusion makes you doubt yourself when you ’ re already running low
2.
Redefine What Counts as Rest
Rest isn’t only about vacations Its about daily micro-resets, basically anything that allows your nervous system to reset:
Time-blocking creative hours
Saying no (without guilt)
Protecting time that doesn’t serve the business
Turning off notifications for 90 minutes
Taking a walk with no agenda.
3. Stop Measuring Worth By Output
You are not your inbox, KPIs, follower count, or your ability to respond quickly Reclaiming your worth outside of work helps down-regulate chronic stress
4. Zoom Out: Acknowledge the Systemic Factors
Entrepreneurial burnout isn’t just about poor time management It’s about an economic and cultural environment that rewards overwork and punishes pause
We need collective language, not just individual coping That includes: Talk about it With peers With professionals
Name the patterns: overfunctioning, toxic productivity, scarcity mindset
Prioritize connection over competition
5.
Get
Help That Knows the Terrain
Working with a professional can help you unpack what your nervous system has been navigating Therapy isnt about “fixing” you It’s about helping you feel like you again
Take-Aways
Millennial entrepreneur burnout isn’t a glitch It’s the outcome of a system that asks you to be Everything, everywhere, all the time
But recovery isn’t about stepping away from your business It’s about stepping back into it differently With fewer assumptions, more capacity, and tools that actually restore you
You don’t have to earn rest You have to recognize when the cost of pushing through is no longer sustainable
And if you ' re reading this and wondering if you ' re burned out chances are, you already know the answer.
The question now is: what are you willing to stop doing, so you can keep building?
How to Choose the Best Security Camera System for Your Canadian Business
In 2025, security has become more critical than ever for businesses, particularly in Canada
Whether you ' re running a retail shop, office space, warehouse, or industrial facility, protecting your business assets, employees, and customers is a top priority. With the rapid advancement in security technology, security camera systems for businesses have evolved, offering a wide array of features to ensure maximum protection
Choosing the best security camera system for your Canadian business in 2025 involves more than just selecting the most expensive or popular option To ensure optimal protection, you must consider several factors, including the climate, local security concerns, and the latest technological advancements available This guide will walk you through the necessary considerations to help you choose the right security camera system for your business
1. Consider Your Business’s Security Needs
The first step in selecting the best security camera system for your business is understanding your specific security needs Different types of businesses face unique risks, and a comprehensive security system should address these concerns
Peter Lee
Key Factors to Evaluate:
Size and Type of Business: A large commercial building will require a different security solution than a small office or retail store
You’ll need to choose a security camera system that can scale with the size of your business
Business Hours and Activity: If your business operates 24/7 or has shifts during non-office hours, you’ll need cameras with night vision, motion detection, and remote monitoring
Location and Crime Concerns: Businesses located in high-crime areas may require more advanced surveillance systems, while businesses in quieter, low-crime areas may opt for more basic systems
Why It Matters:
Identifying your business’s unique security needs ensures that you choose the right system that provides comprehensive protection without overcomplicating things.
Peter Lee is a seasoned content marketer with a strong focus on B2B and AI-driven solutions
With years of experience crafting high-impact content strategies, Peter helps tech companies translate complex technologies into compelling stories that drive growth and engagement When he’s not writing about the future of AI, he’s exploring the intersection of innovation and business strategy
2. Climate and Weather Considerations in Canada
Canada’s diverse climate from frigid winters to humid summers presents challenges for outdoor security camera systems
It's essential to select equipment that can withstand the local weather conditions, particularly if your business has external cameras or operates in areas prone to extreme weather
Key Considerations:
Weatherproof Cameras: Choose cameras with high IP (Ingress Protection) ratings for outdoor use Look for systems with IP66 or higher to ensure cameras are protected from dust, heavy rain, and snow.
Temperature Resistance: Cameras should be able to handle extreme temperatures, especially in Canada’s northern and colder regions Cameras rated for -40°C to +60°C are ideal for outdoor use
Why It Matters:
Choosing cameras built to withstand Canada’s weather helps ensure reliable performance yearround and avoids the need for frequent maintenance or replacements
3. Technological Advancements in 2025 Security Systems
With the rise of AI, cloud technology, and automation, the modern security camera system for business offers an array of advanced features that go beyond just recording footage In 2025, it’s important to select a camera system that incorporates the latest technological innovations to stay ahead of potential threats
Key Features to Look For:
AI-Powered Cameras: Cameras that incorporate artificial intelligence (AI) offer enhanced features like facial recognition, license plate tracking, and person detection. AI cameras analyze the video feed in real-time, reducing false alarms and improving the accuracy of surveillance
Cloud Integration: Cloud-based security camera systems store video footage securely off-site, allowing business owners to access footage remotely and reducing the need for on-site hardware storage
Remote Monitoring: Modern security camera systems allow business owners and security personnel to monitor live footage from anywhere using smartphones, tablets, or desktop computers.
Why It Matters:
Leveraging advanced technologies like AI, cloud storage, and remote monitoring provides an enhanced level of security and makes it easier to manage your system, especially if you own or manage multiple locations
4. Compliance with Local and Industry Regulations
Canada has strict data protection and privacy regulations that apply to surveillance systems, particularly in industries like healthcare, finance, and retail When selecting a security camera system for your business, ensure that it complies with these regulations to avoid legal issues
Key Compliance Considerations:
Data Privacy Laws: Ensure that your security cameras comply with privacy regulations, such as the Personal Information Protection and Electronic Documents Act (PIPEDA), especially regarding the use of facial recognition and audio recording
Video Retention Policies: Many industries require video footage to be stored for a specific period Choose a security camera system that allows you to set retention periods that comply with legal requirements
Why It Matters:
Compliance with local and industry regulations ensures that your security system is legally sound and protects both your business and your customers’ privacy
5. Cost Considerations: Budget and ROI
The cost of installing a security camera system for business can vary greatly depending on the type, features, and scale of the system In Canada, businesses must weigh the initial investment, maintenance costs, and long-term benefits of the system
Key Budget Factors:
Initial Investment: Factor in the cost of cameras, installation, and any additional equipment such as monitoring stations or access control systems
Ongoing Costs: Consider subscription fees for cloud storage, maintenance, or monitoring services
Why It Matters:
Understanding the cost-to-benefit ratio helps you make an informed decision about your security system, ensuring that you get the best value for your investment while still providing top-notch protection
6.
Scalability for Future Growth
As your business grows, so too will your security needs A commercial security system that can scale with your business allows you to add more cameras or features without having to replace the entire system
Key Scalability Considerations:
Modular Systems: Choose a security system that allows you to easily expand by adding new cameras, sensors, or other components as needed
Remote Access and Integration: Ensure your system can integrate with other business tools, such as smart building systems, access control, and alarms, providing a cohesive security solution
Why It Matters:
A scalable security system ensures that your investment in security can grow with your business, providing ongoing protection as your company expands
Conclusion
Choosing the best security camera system for your Canadian business is a crucial decision that involves considering factors such as property size, local climate, industry regulations, and technological advancements Whether you opt for AI-powered cameras, cloud storage, or remote monitoring, the right security system will not only safeguard your business today but also futureproof it against emerging threats
