CanadianSME Small Business Magazine February 2022

ISSUE NO. 39

FEBRUARY 2022

CANADIANSME Empowering Canadian Small & Medium Businesses Banking partner

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BLACK

HISTORY MONTH now and forever

All Images, trademarks, service marks and logos referred to or appearing in this magazine are the property of their respective owners.

2022

Celebrating

40 05 05

SPEAKERS Expert business speakers

WORKSHOPS Interactive workshops by industry experts

PANEL DISCUSSIONS Expert panel discussions

29-30 June, 2022

www.smeexpo.ca

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Hello readers!

Our February issue is officially here and we are very excited about all the great content we have included in this month’s issue! We strive to be Canada’s top magazine in providing exclusive insights, strategies, and advice to small business owners and entrepreneurs. Our mission is to include the best of the inclusive interviews and top business insights from reputable industry experts. Our team works very hard in delivering the most valuable content to our readers to ensure that you stay up to date on all the latest business trends. Empowering small and medium-sized businesses is our prime goal.

This month, CanadianSME is focused on Black History Month, inspiring business leaders, advice for small businesses, corporate and business travel and much more.. Learn more through CDW’s article “How Have Small Businesses Been Managing Their IT Infrastructure Throughout the Pandemic?”, Zoho's “How low-code app development can help businesses overcome personnel and revenue limitations” “Are You a Boss or a Leader? By Rick Moore; How to Build the Best Business Plan Ever: Step-by-Step Guide and Ricoh’s “Ransomware: A Big Threat for Small Businesses”. We also included exclusive interviews like ‘Small Business chat with Navin Arora, Executive Vice-president and President, TELUS Business Solutions” Enter your company for the 2021 Canadian SME National Business Awards by February 25th, and you could win big!

The business awards represent excellence and accomplishment for entrepreneurs because it recognizes and validates all the hard work they have put into making a successful business. The awards also represent several opportunities for businesses, including increasing their credibility to investors and customers. When an entrepreneur takes home a business award, it solidifies their reputation – enhancing trustworthiness in the eyes of others.

We, at CanadianSME Small Business Magazine, understand that during this new year after pure chaos, small and medium-sized businesses need more support than ever before. These articles provide insights into the tools and resources available and 2022 trends to keep top of mind this year. We hope that this month’s issue will help give you the knowledge and information you need to stay ahead in the market.

Don't forget to subscribe to our magazine to get the latest trends and stay up to date on all of our events Until next month, happy reading!

www.canadiansme.ca info@canadiansme.ca canadiansme canadian_sme canadiansme canadiansme

Editor & Publisher Shaik Khaleeluddin (SK) Consulting Editor Shiraz Siddique Creative Design Cmarketing Inc Client Manager Maheen Bari Social Media Cmarketing Inc Sales Abdul Sultan Shaik Photography Deposit Photos Web Cmarketing Inc

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Published by Cmarketing Inc 2800 Skymark Avenue, Suite 203 Mississauga, ON. Canada. L4W 5A6.

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The contents in CanadianSME Magazine are for informational purposes only. Neither Cmarketing Inc, the publishers nor any of its partners, employees or affiliates accept any liability whatsoever for any direct or consequential loss arising from any use of its contents.

19 How Do I Communicate with

Remote Employees?

ricoh.ca/en

Regulars

73

Rethinking Recruitment for small businesses during the labour shortage

By Dave Adams Vice President, Business Development, Medavie Blue Cros

33

How Have Small Businesses Been Managing Their IT Infrastructure Throughout the Pandemic? www.cdw.ca

39 65

How low-code app development can help businesses overcome personnel and revenue limitations

By Chandrashekar LSP

How to Build the Best Business Plan Ever: Step-by-Step Guide This article was originally published on RBC’s Discover & Learn blog.

63

Evangelist Zoho Canada

Are You a Boss, or a Leader?

By Rick Moore CEPA, CEO at ActionCOACH Canada, Author

94

10 Small Business Ideas to Start This Year (2022)

By CanadianSME

30

How BEBC is Helping Black Entrepreneurs in Canada blackentrepreneursbc.org

43

4 Digital Infrastructure Prediction Defining the Next Decade

By Milind Wagle,

CIO, Equinix

80 4 Ways Business Owners Unknowingly Drain Their Monthly Budget Nathan Liao, Founder, CMA Exam Academy

Succession Planning for Women Entrepreneurs How to set your short- or long-term leave up for success

By Amanda Hudson HR and People Management Expert, Founder, A Modern Way to Work

Starting and running a small or mediumsized business takes an incredible amount of passion, energy, and time. And while our culture and the media tend to reward women entrepreneurs for their hustle, grit, and dedication, one topic that doesn’t get nearly enough air time is the challenge of taking short- or long-term leave as a female business owner.

55

22

Cam Linke - The Man of

Exclusive chat with Michelle Meghie

Creativity and Innovation CEO of Alberta Machine

President, Canadian Black

Intelligence Institute (Amii)

Chamber of Commerce

53

83

Lawrence Krimker -

The Most

Accomplished Business Leader

61

Ransomware: securing your first & last lines of defence

in North America

CEO, Simply Group

90

Resolutions to Rocket-Fuel Small Businesses in 2022

27 How Futurpreneur Canada

By CanadianSME

is Empowering Canadian

86

Black Entrepreneurs?

Is Your Small business Looking for a Big Transformation in 2022?

By Ritu Kohli-Sethi Managing Partner at GTEC

67

BREAK FREE OF THE SWIRL IMPEDING YOUR COMPANY’S GROWTH New Book By Growth and Strategy Expert Richard S. Hawkes Provides Playbook For Transformative Organizational Change

Richard S. Hawkes Author of NAVIGATE THE SWIRL

71

Ransomware: A Big Threat for Small Businesses ricoh.ca/en

36 Small Business Chat with Navin Arora Executive Vice-president and President, TELUS Business Solutions

31 Why I.T. is More Important than Ever for Small Businesses CDW.ca/smallbusiness

News Province Invests in Leading Southwestern Ontario Manufacturers to Boost Regional Economy ECONOMY

New Digital Skills Index from Salesforce Reveals 86% of Canadian Workers Feel Unequipped for the Future of Work

The Ontario government is supporting an investment of more than $44 million by three leading southwestern Ontario companies to strengthen local manufacturing, create jobs, attract new investment and boost regional economic recovery. The province is investing nearly $2 million through the Regional Development Program, which will help create 78 jobs.

Cisco Reveals New Innovations to Help Businesses Make Hybrid Work, Work

TECHNOLOGY

Salesforce, the global leader in CRM, today published its Canadian Digital Skills Index revealing a growing digital skills crisis and the urgent need for action. The Index is based on Canadian workers reporting their readiness to acquire key digital skills. Over three-quarters of Canadians (81%) don’t feel equipped to learn the digital skills needed by businesses now and even more (86%) don’t feel equipped for the future.

TECHNOLOGY

Cisco introduces new technologies to help businesses rapidly scale networks and digitize operations to redefine the campus experience to support hybrid work. Hybrid work success is not simply the ability to support a remote workforce. It is the ability to adapt to change as it happens. It is all powered by reliable, mission-critical connectivity.

Ontario Invests in Eastern Ontario Manufacturer to Boost Regional Economy MANUFACTURE

Our government continues to support local manufacturers through targeted investments to help businesses create good local jobs,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “We thank Premier Tech Home & Garden for making a significant impact in the Ontario communities where they operate, and for contributing to our province’s dynamic and growing manufacturing sector.

13 - CanadianSME - January 2022

News Tackling Canada’s Supply Chain Critical to Economic Recovery ECONOMY

Rocco Rossi, President & CEO, Ontario Chamber of Commerce, released the following statement in reaction to the federal Supply Chain Summit: From the grocery store and trucking industry to their pocketbooks, Ontarians are experiencing the very real consequences of global supply chain disruptions first-hand.

Younger owners most determined to preserve and sustain the family business: Family Enterprise Foundation Report SMALLBUSINESS

Younger family business owners are the most committed to

preserving the family business and want to play a key role in sustaining its legacy for future generations, according to new research by Family Enterprise Foundation (FEF).

Most Black Canadians think their employers are making genuine efforts to address systemic racism, but much work remains to be done: KPMG in Canada SMALL BUSINESS

New research by KPMG in Canada finds that nearly

seven out of 10 (68 per cent) Black Canadians say their employers have made progress on following through on their promises to be more equitable and inclusive for

Black employees, and their managers and senior leaders have a better understanding of the systemic barriers Black Canadians face.

Google Canada announces $1.5 million contribution to Canadian Council for Aboriginal Business to create growth opportunities for Indigenous Businesses and Entrepreneurs INDIGENOUS BUSINESSES AND ENTREPRENEURS

The two-year commitment includes cash grants for Indigenous businesses, the redevelopment of CCAB’s Tools and Financing for Aboriginal Business platform, and advertising credits for CCAB to promote programs and services

14 - CanadianSME - February 2022

BLACK

HISTORY MONTH

2022

Celebrating

now and forever

February, also said to be Black History Month, or African

Woodson's organization was later

culture and history to honor the future leaders and ancestors

the Study of American Life and

Heritage Month, celebrates and highlights the best of black

of the black community, their achievements, and the ongoing struggle for freedom. This is also time for all Canadians to explore and reflect on the history of discrimination, black

enslavement, prejudice, criminalization and bigotry of AfroAmericans to remember that a thing like ‘racism’ still exists.

A Brief History on Black History Month The first iteration of Black History Month was Negro History

Week, established by the "father of Black History" - Carter G.

Woodson in 1926. This Afro-American historian dedicated his whole career to studying and documenting the lives of black

people. This renowned and reputable historian helped create a field of Afro-American study, and his organization, the Association for the Study of Negro Life and History,

encouraged people of every social and racial background to discuss their Black experience. It was an educational and scientific intervention to combat the racist expression or

deletion of Afro-Americans in the history of America, which

contributed to the disenfranchising and misinformation of the past through a white gaze. Since then, celebrating Black History Month has become a tradition.

15 - CanadianSME - February 2022

renamed ASAALH (Association for History) and is now the oldest

historical association founded to

promote African American history.

Small Business Black History Month: Why in February?

February is the day Woodson has chosen to

When Did the Black History Month Become a National Celebration Month in Canada?

celebrate throughout the week because it coincides with the birthdays of social reformer Frederick

Douglass and former US President Abraham Lincoln

By the end of the 1970s, Canadian cities across

an important role in the war against slavery.

week, in part thanks to the civil rights

After the assassination of Lincoln in 1865, the black

black population. Eventually, the event became

celebrated the downfalling President's birth

campuses.

as reasons for reform and tradition. The two played

community together with other Republicans

anniversary. And starting in the late 1890s, the black

the country started to celebrate Black History movement and increased awareness of the Black History Month on numerous college

community across the nation began to honor

In 1978, the OBHS (Ontario Black History

black community were already celebrating the birth

Brooks and Dr. Daniel G. Hill petitioned the

Douglass. Woodson recognized that members of the of Lincoln and Douglass and eager to build on

existing traditions. The Association for the Study of

the Life and History of African Americans (ASAALH) explained on its website that Woodson asked the

public not to create a new tradition, but to expand the study of black history.

Society) was formed. Founders, Wilson O.

city of Toronto to officially declare February as Black History Month. In 1979, Toronto issued its first Canadian manifesto.

In 1988, Nova Scotia first observed Black History Month. 1n 1996, it was renamed African Heritage Month.

Small Business In 1993, the Ontario Black History Society launched

People of Canada beautifully mark this

Black History Month. Following this success, OBHS

and stories of Black people are present in

a petition in Ontario to designate February as

President Rosemary Sadlier introduced the idea of celebrating Black History Month in Canada.

The House of Commons in December 1995, at the suggestion of Dr. Augustine, officially recognized Black History Month in February. The bill was unanimously supported by the House of

awareness month by making sure the voices every subject area, especially in social

studies. Educators have a responsibility to

teach black history fairly and truthfully, and simply pass the legacy of numerous brave

black stalwarts who fought and took a stand for freedom.

Commons. It was proposed by the honorable

Many schools and colleges instruct students

Canadian woman to the Parliament. Black History

Luther King Jr. (Civil rights leader and

Jean Augustine, who was elected the first black

Month was formally launched in February 1996 in Canada.

Senator Donald Oliver, the first black person to be appointed to the Senate in February 2008, introduced this motion to recognize the

contributions of black Canadians and made February the Black History Month. It was

unanimously approved and embraced on March

4, 2008. The embracing of this motion completed the Canadian Parliament's position regarding Black History Month.

2022 marks the 26th anniversary of Black History Month's nationwide observation in Canada.

Why and How Is Black History Month Celebrated?

Originally Black History Month was a way to educate students and youth about the contributions of black and African Americans. Such stories were largely forgotten and ignored as part of the national narrative.

Today, it is considered as a celebration of those,

who, with their activities and achievements, have influenced not only the country but the world. In

Canada as well as the USA, February is the month of

attention since it's an opportunity for people to learn about black history and go beyond the discussions of slavery and racism, and to talk about Black leaders and their achievements.

17 - CanadianSME - February 2022

about notable historical figures like Martin

minister), Rosa Parks (bus boycott activist), Nelson Mandela, etc. Students are educated to make them know that the US was racially segregated once (still exists though) and

racism needs to be stopped for the world to be a better place. The month-long

celebration of Black History Month provides

an opportunity to rethink the possibilities that lie ahead.

Significant Figures in Black History Month One can learn about popular black leaders and innovators, like the two examples stated below:

Martin Luther King Jr. was famous for his role in many civil rights protests. He used this experience as a preacher to give the longest-lasting speech people know today.

Spearheading the Montgomery Bus Boycott and launching non-violent civil rights protests are just some of the ways he had a profound impact on history before his

How Can One Take Part?

There are many activities held

throughout Canada during this particular month like concerts,

activities, and performances for kids

and adults. All one needs to do is ask their local library or school about the festivities that are going to take place in their communities.

assassination on April 4, 1968.

To Sum it Up,

Rosa Parks was against unfair racism. On the bus. In the

CanadianSME believes in actively

'black section' and a 'white section'. On December 1, 1955,

racism, free Blackness, affirming the

1950s and 1960s, public transportation was divided into a she placed herself in the front seat of the black area at

the back of the bus. The front of the bus started to fill up, and in the end, there was no seat in the 'white' section.

Rosa was asked to move back and go to the back of the

bus to make room for white passengers. She refused and the police were called. Together with Martin Luther King Jr, she helped with the Montgomery Bus Boycott that lasted more than a year.

Black History Month 2022 Theme Every February, Canadians are invited to participate in events and festivities related to Black History Month in

honour to appreciate the heritage of Black Canadians and their communities. This year the theme is "February and

Forever: Celebrating Black History Today and Every Day". The theme for Black History Month was announced on Lincoln Alexander Day in Canada, which is on January 21, 2022.

18 - CanadianSME - February 2022

dismantling every form of anti-black existence of blacks, and creating

freedom of self-determination and love. CanadianSME also believes in working in solidarity and building

important connections with the black community when it comes to

dismantling every form of state-

sanctioned oppression, violence, and cruelty carried out against Black

communities. CanadianSME aspires

to create spaces for building thriving communities.

How Do I Communicate with Remote Employees?

When your team can easily collaborate and work

Right now, some of the biggest

the increased need for remote working, business leaders

comes to collaboration include:

harmoniously, it improves productivity and innovation. With are facing new challenges such as how to properly engage their teams as well as keeping the lines of communication open.

Remote work has been happening for decades, but never at this magnitude and with this degree of urgency. In the first half of 2021, 32% of Canadian employees aged 15 to 69

worked most of their hours from home, compared with 4% in 2016[1]. As noted in the most recent release of the Labour

Force Survey, 3.1 million Canadians were working from home

breakdowns we’re seeing when it

Lack of real-time communication between coworkers and managers Slow, inefficient file-sharing capabilities Incautious security measures leaving the door open to risks

temporarily in response to the COVID-19 pandemic as of

Time-consuming searches for

companies shift their work-from-home policies to

Lean IT resources to help when

February 2021. That number is estimated to grow as more

documents and data

accommodate the needs and desires of employees.

support is needed

19 - CanadianSME - February 2022

Small Business Whether you have a partial or fully remote

team, the goal is to keep them engaged and empowered. In our “always-on” world, your team needs the speed, technology, and

capability to be productive from anywhere, at any time - and for many businesses, adapting to the "new normal" of global

working conditions, this is no longer an option.

As advanced IT, automation, and

collaboration solutions help to create more productive and innovative workplaces,

traditional work environments are struggling

This platform should encompass all aspects of collaboration and communication, allowing workers to:

Share documents, photos, PDFs, and other files Offer video conferencing and screensharing capabilities Interact via group and individual chat Conference call from any location

to keep up. These unprecedented

Microsoft Teams, a component of Microsoft

companies to look inward and realize the

provides you with optional reports to tell you

circumstances have caused many

365, offers all these features. It even

need for rapid digital transformation.

how your employees are using Teams, giving

Businesses that have made the transition to a modernized, digitized work environment are already experiencing the benefits of

more automated, efficient workflows and

you a better understanding of how to promote user engagement.

improved productivity.

Your collaborative platform should make

While this transition doesn’t happen

done the right way, a well thought-out and

overnight, with the guidance of experts your

business can make significant changes that work to help you achieve new levels of

success. Start by following these simple guidelines and notice where you see opportunities for improvement.

work easier, not more complicated. When organized approach can help you reap the most benefits from any type of new office application. Before you commit to using a platform, be sure it offers the agile features your team will require not only now but also in the future.

Create a hub for teamwork Your team works best when information is at their fingertips, thoughts, and ideas can be

shared quickly and easily, and meetings can be organized and carried out seamlessly. To achieve this, companies need a strong

collaborative platform like Microsoft Teams to work from.

[1] Statistics Canada, “Study: Working from home: Productivity and preferences”, 01 April, 2021, https://www150.statcan.gc.ca/n1/dailyquotidien/210401/dq210401b-eng.htm

20 - CanadianSME - February 2022

Small Business

Modernize workflows and document management All workers, remote or in-office, want to spend less time looking for dispersed

documents and files. Time spent searching for papers in file cabinets, or information lost in a sea of emails is time wasted.

Implementing modern, automated workflows and digital document

management allows your team to shift their focus to high-level initiatives and drive business growth.

With intuitive digital workflow solutions like DocuWare, in-office, remote teams, and

Give your team the support they need When your team has the tools and resources they need to collaborate, everyone wins. But does your business have a plan in place to be certain your

team has the necessary support to troubleshoot an issue? Is your critical information secure on the platforms, personal devices, and networks your teams are using? Ideally, you’ll want to find a

solution that provides both support and security giving your team the support they need to

collaborate effectively while giving you peace of mind that your data is safe.

For example, you should look for:

external collaborators will have secure

A 24/7 service desk that manages and monitors

anywhere and anytime.

Mobile Device Management services to be sure

access to all the information they need,

DocuWare also provides: Automated capture, routing, indexing, and archiving of critical data Flexible cloud or on-premise solutions for seamless IT and third-party integrations Future-proofed technology for secure, scalable applications The ability to eliminate manual tasks and delays associated with paper documents Activity logging and reporting to maintain transparency

your operating systems and workstations your team can access corporate data from personal devices Server backup and data protection to ensure business continuity Businesses that understand the value of open communication and collaboration are turning to experts for guidance to the most effective solutions.

Especially from a remote perspective, the right tools can bring people and data together from anywhere, and keep your business running seamlessly. Pair these tools with dedicated support and advanced security measures to keep your team connected, collaborating, and ready to accomplish more.

Our Digital Workplace Solutions keep your teams connected, productive, and secure so you’re ready to thrive – not just survive – in today’s marketplace.

Learn more about how we’re helping organizations adopt for today while planning for tomorrow at Ricoh.ca

21 - CanadianSME - February 2022

Exclusive chat with MICHELLE MEGHIE

President, Canadian Black Chamber of Commerce

Michelle Meghie is the president of the Canadian Black Chamber of Commerce. (CBCC) Michelle joins the CBCC with an established track record of improving member/customer experiences in a broad range of organizations and sectors. Michelle brings extensive experience in government, governance, and non-profit institutions. Additionally, Michelle brings relevant expertise that supports the CBCC as it navigates through the complexities of a nationwide postpandemic world that are challenging the black businesses sector.

Michelle believes in collaborative leadership thus works closely with the Board and senior management to articulate strategy, as CBCC continues to deliver its vision to help black entrepreneurs and their businesses prosper and grow.

Prior to assuming her role as president, Michelle had an illustrious career in the public sector spanning over three decades with a focus on Community, Children and Social Services.

Michelle was honoured to be the first black woman to receive a public appointment to the Transitional Council for the College of Kinesiologists of Ontario. Upon proclamation, she was appointed to the College of Kinesiologists of Ontario. The first selfregulatory body of its kind in the world. Within her tenure, she chaired the Governance, Examination Appeals and Patient Relations Committees.

Black History Month is a critical time for reflection, for compassion, for improvement —but it is not and must not be the only time. We can always do better, and we can always do more. This interview features Michelle Meghie, the president of the Canadian Black Chamber of Commerce.

(CBCC) Michelle joins the CBCC with an established track record of improving member/customer experiences in a broad range of organizations and sectors. Michelle brings extensive experience in government, governance, and non-profit institutions.

Additionally, Michelle brings relevant expertise that supports the CBCC as it navigates through the complexities of a nationwide post-pandemic world that are challenging the black businesses sector. In this exclusive Q/A Michelle discusses the importance of taking the time of BHM to reflect, think back, and celebrate Blackness in all of its forms, what are some professional development workshops being offered this year by the Black Chamber of Commerce and she shares her special advice to black women entrepreneurs during this challenging time.

What Does Black History Month Mean to you?

Why do you think it is important to take

Black History Month to me is a constant reminder of

the time of BHM to reflect, think back,

well as the struggle for equality that continues even

forms?

our struggles through centuries of enslavement, as

and celebrate Blackness in all of its

today. The hardship and anti-black racism that

Black history and Blackness in all its form

me. However, it is energizing to see so many brilliant

we take and should not be taken for granted.

are sitting and have sat at the table of a decision

or become complacent about who we are as

Sen. Anne Cools, Dr. Daurene Elaine Lewis, Rosemary

erect barriers. Thus, it is imperative that we

This gives me hope, inspires me, and tells me that,

lot of work to do to tear down these barriers,

and resilient people.

Equity is not enough. It is incumbent on each

continues to stunt progress for black people sadden

should be celebrated with every breathe that

black leaders in our community across Canada who

As black people, we cannot afford to forget

like Michaëlle Jean, Sen. Wanda Thomas Bernard,

a people and the struggles that continue to

Brown, and Jean Augustine to name a few.

take BHM as a reminder that we still have a

even in the face of adversity, black people are strong

as just talking about Diversity, Inclusion, and

Black history month is a celebration of the large

of us to say something when we see injustice.

footprints of our ancestors and their excellence.

What I often say to couples is that when you

to always strive for greatness. The recognition and

you both need to think back on what brought

it must be for every single day. We must provide a

forward. Similarly, it is imperative for black

ensure they are not left behind. It’s a call to action to

history in order to move forward to ensure a

most vulnerable.

reconnect and support the work that’s been

Thus, BHM serves as an inspiration and a motivation

feel your relationship is not going well, then

the importance of BHM cannot just be for one month,

you together in the first place to move

range of opportunities for future generations to

people to reflect on the struggles of their

continue to uplift those within our society who are

strong and connected diaspora. We must

done. This BHM gives us the opportunity to acknowledge people who have carved the

Do you think there’s a lack of representation in the history textbooks taught across Canada? What are your thoughts?

Yes. The lack of representation is evident, and it is unequivocally a loss to us as a race. Black people have been in Canada for over 400-years, and to

not bring this knowledge to the classrooms for the

young people to learn, is saddening. It is important for black children to learn about their history in

order to understand the modern-day struggle and

path for us.

Black people are deeply indebted to the people who have come before, and the

people who are in the trenches continuously fighting for justice in different ways, often

with little or no acknowledgment. Reflecting on our journey during BHM gives us an

opportunity to acknowledge the people and

all they made possible. This is a reminder to express gratitude.

the systemic barriers that they will encounter as they grow up.

What are some professional development workshops being offered this year by the

Representation in historical textbooks is a must.

Educational institutes must include a syllabus with

an in-depth look at Black history in Canada. It has

to be a large part of the foundation of learning for all students. It is the only way we can build a

strong future for the black community across this nation and Canada as a whole.

Black Chamber of Commerce?

The Canadian Black Chamber Commerce business advisory will serve to elevate

entrepreneurs through our Elevate Black Business Project with programming,

mentorship, advocacy, promotion, and

investment in their training and development.

The Black entrepreneurial community has long been

disenfranchised by the effects of systemic racism. The Canadian Black Chamber of Commerce endeavours through this program and is funded by the

What is your special advice to black women entrepreneurs during this challenging time?

Government of Canada to “level the playing field” and provide startups and established Black entrepreneurs

the support needed to help their businesses succeed.

The effects of the pandemic have further highlighted

the great need for this service in the Black community.

The Canadian Black Chamber is the voice of Black Canadian businesses and entrepreneurs. There is

incredible power in being in the right place, with the right people and connected in the right way. The

Canadian Black Chamber empowers you and your

business with Black Business Direct, presented by Uber.

Black Business Direct is the newest National, digital directory available to support Black entrepreneurs across the country.

What are some ways for corporations to retain their diverse talent in 2022 and beyond? Why is it important to address unconscious bias?

We often get to see that employees’ ethical and

unbiased decisions are made by the corporations. It is the duty of train managers to have a full and indepth understanding of what diverse employees

maybe experiencing. They should be aware of their biases since there’s so much availability of

First, congratulations to every woman who made or are thinking of making the big

plunge into entrepreneurship, because it takes courage. The rates of growth for Black female business owners are exponential especially

since the emergence of COVID-19. This period of restriction and lockdown afforded many

women the time to discover their inner talents and exposed their entrepreneurial spirit

Emerging businesswomen should ensure that their personal finances are in order and that they are financially Healthy to start their business.

Invest in your entrepreneurial aspiration, save money, reach out to their inner circle of

friends and family to help to secure the

required capital and resources to launch as prior to starting up their businesses. .

Some of the strategies I would like to share

with the aspiring women entrepreneurs that can help them to break all the barriers that come in their path of entrepreneurship:

education today. In order to create a safe space or a proper working ecosystem, one needs to be

creative and amiable when it comes to onboarding diverse employees.

Some of the strategies that can be helpful are: One should build a work environment that helps employees fall in love with their jobs and the environment they work in.

One should bring proper value and see what’s beyond the surface

Leaders or employers should support when it

comes to creating an inspiring community within their company

The trainer or leader should open the path for transparency and communication

Creating mentorship and sponsorship opportunities Connect and stand in solidarity with diverse

employees and create a culture of inclusion.

Women should connect with mentors since it makes a difference

Women should embrace the challenge and strategize for a pragmatic outcome

Determination can empower you and help to eradicate barriers

Women should research their ideas and the market trends

Ask questions to the veteran business owner to learn about their journey to entrepreneurship.

They should constantly ask themselves the

purpose of becoming an entrepreneur. The “why” is so important

They should complete a business plan, as it

will help identify the path that could lead to profitable and sustainable business.

Michelle’s Pieces of Advice to Black Businesswoman and Leaders

If you have a team, keep them motivated to do great things together and make sure you and your team are always working toward the same concrete goals. Remember, self-care in the interim will rejuvenate and motivate you in this journey.

You should contact the Canadian Black Chamber of Commerce. We are ready to help you to grow your business and take it to the next

level with the Elevate Black Business Program funded by the Federal Government of Canada.

Enroll in any of these programs at no cost Business Plan writing Program AVRO Business Program Propel Mastermind

Elevate Mentorship Financial literacy

Food Incubator Program www.elevateblackbusiness.ca Register your business in the Digital Black Business Direct Directory sponsored by Uber Canada at no cost to you www.blackusinessdirect.ca To stay informed Remain engaged and stay connected with mentors

Attend regular CBCC monthly virtual programs like webinars,

workshops, and the new and exciting monthly Business & Entrepreneur Network (BEN) Member Engagement events

Offerings from the Canada Black Chamber of Commerce Canada Black Chamber of Commerce offers a 90-day membership at no cost

Free access to Black Business Direct Directory and business listings Free personalized mastermind program and mentorship Participation in the Elevate Black Business Project, etc.

Have a wonderful Black History Month everyone!

Digital & E-Commerce Business Of The Year

APPLY NOW NOMINATION DEADLINE FEBRUARY 25TH, 2022 WWW.SMEAWARDS.CA

#SMEAWARDS

HOW FUTURPRENEUR CANADA is Empowering Canadian Black Entrepreneurs?

Futurpreneur Canada has ignited the entrepreneurial passion of young Canadian black entrepreneurs for 20 years. They are the only non-profit organization in the country that provides support tools, funding, and mentoring to aspiring black entrepreneurs that fall under the age group of 18-39. Their globally recognized mentoring and training program helps young black entrepreneurs find business professionals in a network of over 2,400 volunteer mentors.

With Diversity and Inclusion as Futurpreneur's core values, they support young black Canadian entrepreneurs of all walks of life by helping them start and thrive their business successfully.

Diversity & Inclusion: What Exactly Is It?

Diversity and Inclusion are significant and enduring priorities of Futurpreneur Canada and they are determined to act long term right from the beginning.

In June-July 2020, a team of 13 people identified as Black (representing a diverse group including Aboriginal, LGBTQ+, Asian, and new Canadian) toiled with their Head of Diversity & Inclusion in order to build a genuine commitment, that reflects their present state of affairs, and that is where they want to be an organization with inclusive empowerment, diversity and inclusion as their core values.

Futurpreneur Canada makes these promises and takes these steps with the full backing of their CEO, Board of Directors, and Leadership Team.

Futurpreneur Canada’s Visions To realize their values of Diversity and Inclusion:

They leverage the unique perspectives and expertise of their team.

27 - CanadianSME - February 2022

They are committed to contributing to the prosperity of all by welcoming a wide array of young black entrepreneurs, promoting inclusive prosperity.

To combat discrimination and racism in all its forms, and recognize, address and understand the systemic prejudices and barriers faced by black, indigenous people, LGBTQ+, people of color, and other marginalized communities particularly in the workplace and in their work.

To develop a culture that promotes and exemplifies equality, diversity, and inclusion in their relationships with their customers, employees, suppliers, mentors, with whom they interact.

To accomplish the goal of steering inclusive social and economic prosperity in Canada by assisting the success of young black Canadian entrepreneurs.

Small Business What Futurpreneur Canada Aims to Be?

Futurpreneur Canada will accomplish its goal of becoming a Canadian organization for diverse young entrepreneurs and new business owners, from one Futurpreneur at a time, promoting inclusive economic and social prosperity Leadership

They want their Board of Directors and Senior Leadership Team to be representatives of LGBTQ+, and BIPOC communities.

Actions Taken by Futurpreneur Canada to Be More Diverse, Inclusive, and Equitable Organization

As they begin to measure outcomes, learn, adapt, and grow, their behavior will continue to evolve. Some actions will bring results quickly. Others may take longer to execute or achieve the desired result.

Leadership Training

They want their values to be entirely reflected in their culture, and also for their volunteers and employees, to know how their words and actions can positively and negatively affect others, both in and out of the work environment of Futurpreneur Canada..

Programs

They hope to continue developing litigation programs and models to help BIPOC and other groups facing systemic obstacles to start their own businesses with Futurpreneur's mentoring and financial support.

Outreach

They want their organization to be the first one when it comes for BIPOC and LGBTQ+ aspiring young entrepreneurs to think of when they need funding, mentoring and resources to start a business. They want to engage the LGBTQ+ and BIPOC communities so that these young entrepreneurs can find them and learn how to access programs and resources.

Partnerships

They seek to promote inclusive economic prosperity by expanding their cooperation with LGBTQ+ and BIPOC suppliers and strategic partners.

28 - CanadianSME - February 2022

In August 2020, they formed the Diversity and Inclusion Committee under the leadership of their Diversity and Inclusion Leaders who are part of their Senior Leadership Team. The Commission's mission is to advocate, recommend, execute and track the actions they have taken to accomplish their vision of diversity and inclusion, externally and internally. Their committee members and associated Diversity and Inclusion practice Teams are open to every employee and reflect a representative and diverse composition. They formalized this task in the responsibility and evaluation of team members.

They are more focused on the recruitment, development, and promotion of BIPOC and LGBTQ+ leadership candidates. This is the result of the hiring or promotion of 7 leadership team members and board members who identify themselves as BIPOC in 2020-21. They have identified a representation gap and are working to address it.

In order to improve hiring practices and remove all barriers, in 2021 they abolished the compulsory postgraduate education requirement for most positions and ended the credit screening practice for new employees.

They continue to expand their recruitment and promotion efforts to a diverse workforce at all levels, especially management team members and board members.

Small Business Programs

Futurpreneur Canada has made notable progress in coordinating its programs in many important areas.

Recognizing the disproportionately facing credit barriers black and Indigenous entrepreneurs face, they have adjusted their credit requirements to offer loans to young black and Indigenous entrepreneurs that were previously unacceptable because of their credit ratings. To help them manage their credit responsibly and prepare them for financial success, they've developed a two-part credit information video resource available to all black young entrepreneurs joining Futurpreneur.

With these events, they've been working with RBC for over six months on many new resources to support black entrepreneurs and are excited to launch the Startup Program for Black Entrepreneurs on March 24, 2021. This is a new offer from Futurpreneur with RBC's financial support and additional loans.

BDC funding is a modified version of the core launch program created by black experts and other members of their team and provided to the Black-led founding teams in recognizing the value of life experiences. They have also partnered with NACCA to strengthen outreach and programs for young Aboriginal entrepreneurs with the support of ISED with the same principles in mind, including developing and delivering an Aboriginal-friendly version of their online business plan editor.

They have refined the accessibility of their online portal and website to provide access and delivery of the program in a comprehensive and secure manner, and now include a non-harassment statement at the beginning of each event along with the loan application process.

29 - CanadianSME - February 2022

Outreach and Partnerships

Futurpreneur Canada is grateful for its partnerships with the various community associations and organizations that focus and lead on BIPOC and LGBTQ+. They will make the work of LGBTQ+ and BIPOC organizations more visible within the organization, increasing awareness and creating opportunities, including with their strategic partners and suppliers, and initiated this robust signing by collaborating with the Canadian Aboriginal & Minority Supplier Council (CAMSC).

With the intention of adding a question about LGBTQ+ identification in the coming months, they've added a question about the admission status of BIPOC Entrepreneurs and Mentors to better understand the diversity and inclusion of their community and their client base. They plan to set goals and track mentors working with the number of LGBTQ+ and BIPOC entrepreneurs they support.

A Few Lines about Futurpreneur Canada’s Award Ceremonies

Each year, Futurpreneur Canada rewards mentors and entrepreneurs who have made positive contributions to the Canadian business ecosystem through their community by demonstrating outstanding drive, exemplary leadership, innovative thinking, or dedication to mentoring or training young founders.

One can learn more about their award functions by simply scrolling through their website.

How BEBC is Helping Black Entrepreneurs in Canada To be a start up owner means to take your destiny in your own hands. Also, being an entrepreneur means that only you will be in control of your future. Having a solid business plan in mind and executing those through a business is powerful. And running your own business needs emotional strength as well. But the road isn't always easy. The journey of being an entrepreneur is full of learning experiences. If you are in Canada, you might know that the nation’s economy is hugely supported by the small businesses in the country. And if you are up for supporting the nation’s resilient business community through your start up, you’ll find support from all arenas.

What is BEBC?

BEBC is the Black Entrepreneurs & Businesses of Canada Society. It is an incorporated and systematized voice for advocating and supporting the Black-owned businesses and Black entrepreneurship in Canada. In addition to their support, BEBC also helps in facilitating access to financing (Provincial, Federal and Local), and provides advisory and mentorship services to its members. Their goal is to provide aid to the Black businesses and help them grow, scale up and become sustainable.

Their Vision & Promise

Are you an aspiring Black entrepreneur in Canada? If yes, this is how BEBC can support you – The BEBC society will get in touch with the federal, provincial and local governments to provide different aids to its members.

The society will facilitate access to capital for its members. They will also find out the right resources which are available and help its members to apply for the same so that nobody is left behind from getting adequate funding for their business.

The BEBC society will also provide advisory and mentorship to its members which includes the ‘how-to’ of business – starting, running, and growing.

The society will also take part in crosspromoting and networking on behalf of its Black Entrepreneurs and Businesses (BEBs) members.

The society will coordinate to gain collective access to professional services which is imperative for operational support towards the businesses like Lawyers, Marketing and Advertising partners, Accountants, etc.

The BEBC society will collect data and research thoroughly regarding the industries to support the Black entrepreneurs and businesses.

Do you wish to know more about them? Visit here https://www.blackentrepreneursbc.org/ If you wish to learn more about doing small business in Canada, do not forget to subscribe to our monthly CanadianSME Small Business Magazine.

WHY I.T. IS MORE IMPORTANT THAN EVER FOR SMALL BUSINESSES Have you ever wondered why technology is so important to small businesses? The answer is very simple. Technology saves labour and time and enhances business security.

Because most business operations today rely on the latest

technology, therefore, the corporate world cannot overlook the business benefits of technology. Businesses need technical support to keep their work updated.

Technology is becoming a staple of every startup. The use of technology in businesses has increased significantly

over the past 20 years. Thanks to advances in computer

technology and the Internet, SMEs are contributing more to the economy than they did in the past. Technology has

made day-to-day business operations and tasks easier, providing tangible and intangible benefits to small

businesses that influence corporate culture, attitudes, and performance.

New technologies have improved the security of small businesses by providing protected confidential information and transactional advantages. Here are some of the benefits of new technologies for small businesses.

Effective Customer Communication Technology is critical to a company's ability to communicate effectively with its clients. A small business's

ability to grow depends on whether its employees can communicate

effectively and sell its agenda to customers. The website allows customers to quickly find

information about your company.

Technology accelerates product

shipments, allowing businesses to reach larger geographic areas.

Smooth communication between

customers and companies leads to

rapid growth. With the help of social sites, companies can sell their

services to a large number of people faster and more conveniently. Good communication creates a good public image, attracting more

customers. Thus, companies can

improve their products to compete advantageously in the market.

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Small Business Marketing Technology has freed small businesses from

the confines of print advertising when it comes to attracting new and existing customers.

Internet marketing ranges from simple

informational websites to search engine

advertising and selling products online. Email marketing is an effective and affordable way to reach a large number of people with

newsletters, coupons, or business news. Mobile marketing is a relatively new trend reaching people through text messages, mobile app advertising, and branded app delivery,

connecting customers with what's happening in your business in a fun and engaging way.

Operations Efficiency Technology also helps businesses understand their cash flow requirements and conserve

valuable resources such as time and physical

space. Warehouse technology allows business

Productivity Small businesses need to get the most out of their operations, and technology tools help employees get the job done faster, from

owners to understand how to better manage

the cost of storing their products. With the right technology, executives can hold meetings

online instead of at headquarters, saving time and money.

printing marketing materials to customer

service via email or online chat. The key is to keep your employees focused on using

technology and using it appropriately to save time. Sometimes phone calls can be more

effective and productive than email. Keep the right hardware and software up to date to

keep your employees working at their best.

Mobility Workspace technology virtually eliminates

space and time. Videoconferencing technology allows businesses anywhere in the world to

communicate with each other. Technology is cutting travel costs because businesses can

host virtual meetings and share data without being in the same room. Technology enables

Security

companies to build a global presence at affordable cost.

Most businesses today are exposed to

security threats and vandalism. Technology can be used to protect financial data,

sensitive management decisions, and other sensitive information that provides a competitive advantage. Simply put,

technology helps businesses move ideas

away from competition. By using computers with passwords, businesses can prevent future designs from being copied by competitors.

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Research Capacity Companies with the technological capabilities

to explore new opportunities will always be one step ahead of their competitors. In order for a

business to survive, it must grow and seize new

opportunities. The Internet allows businesses to virtually expand into new markets without the

cost of a business jet or the risk of setting up an offshore plant.

How Have Small Businesses Been Managing Their IT INFRASTRUCTURE THROUGHOUT THE PANDEMIC? According to a recent survey conducted by CDW Canada,

small businesses in Canada have suffered a lot during the

two years of the COVID-19 pandemic. As they adapt to the economic impact of the pandemic and transition to

remote work, many have had to pause operations or shut down entirely.

The survey provides insight into the current IT

infrastructure and practices of small businesses, identifies

changes over the past year, and identifies remaining gaps that need to be addressed as we look into the future of the post-pandemic business landscape. One of the

themes that emerged from observing the challenges that

small businesses continue to face is the lack of adequate IT resources.

While many businesses admit they have faced at least one IT problem since the onset of the pandemic, IT

remains surprisingly low on the priority list, with 32% saying they have not invested in IT. This signals that the issue has been identified, but there is still work to be done to mitigate the impact of the IT problem.

How Can IT Help Small Businesses?

Technology helps businesses in a

IT can help small businesses when it comes to problems

capital to businesses to expand and

and increase efficiencies during and after the pandemic.

With the right IT tools in place, a team can remotely collaborate while securely accessing the business

resources they need to get the job done. This is especially important in today's increasingly digital world, as 18% of

small businesses are using, or will ultimately use a hybrid telework/office model, and 16% have or have already switched to working online.

33 - CanadianSME - February 2022

number of ways, including providing

invest. This is made possible by using new technology for a hassle-free

receiving process. So, it’s high time that small businesses should

embrace IT to streamline their business processes, eliminate

security threats, and ultimately bring efficiency.

Small Business Hybrid Work Model

Your IT strategy evaluates and allocates IT

budgets and addresses IT challenges such as

Creating a productive hybrid work ecosystem is

infrastructure, applications, services, sourcing,

To stay agile, small businesses should make the

but should not prevent useful changes. Whether

employees, consider the infrastructure and tools

company with 10 employees, CDW can provide

enable effective collaboration anywhere.

infrastructure you need to help your business run

more important than before for small businesses.

integration and innovation. It should be specific,

most of their resources, stay in touch with their

you are a cloud-based startup or a small onsite

the business needs to maintain productivity, and

the hybrid, cloud-native or on-premises seamlessly.

Collaboration platforms like Microsoft Teams or Cisco Webex can help employees to stay

connected. Mobile solutions also allow them to

communicate from anywhere, keeping everyone

productive. CDW also works with all major laptop and desktop vendors to help ensure your teams are equipped with the latest technology.

Custom IT Solutions

In addition to the fact that small

businesses need the right IT tools, they

also need to have a dedicated team of IT Eliminate Cyberthreats

At a time when small businesses are particularly vulnerable to potential ransomware attacks and cyberthreats, it is more important than ever to

step up cybersecurity efforts. Small businesses

must take a driven approach to security to shield customer data and sensitive information. Robust IT solutions can help keep your business safe.

Whether you are looking for an email or web

security solution, or regularly monitor sensitive data, CDW can work with you to keep your information safe and secured.

Proper IT Infrastructure and Strategy

A business strategy describes a business goal and sets the principles for achieving it. IT

strategies are pretty much the same, except that

they explicitly state IT tools and methods. Just as a business plan should include marketing and

sales strategies, one should pinpoint how they will manage your technology to enhance your business now and in the future.

34 - CanadianSME - February 2022

professionals to help them navigate the post-pandemic environment. CDW can help you manage your supply chain

through a warehouse, warehousing or

stock holding agreement. CDW can also help onboarding by providing new

technology on day one to new hires.

Implementing a more robust IT

infrastructure can be challenging if an

enterprise is unsure of their needs, but

CDW Canada is here to help you out. They

have a full team of experts having years of experience to support your small business.

Overview of CDW’s Technology

Why CDW? How Can We Help?

Services

CDW’s robust team of small business experts helps

For small businesses, it's important to

you learn how to migrate, manage, and improve

speed up processes and refine business

benefits to small businesses:

determine how best to use technology to

your overall IT infrastructure. CDW offers a lot of

outcomes. At any stage in your technology

journey, CDW's full-service lifecycle supports and helps your internal team focus on your

Online Discounts

business goals.

Small businesses can save 5% instantly on services

Design: CDW uses extensive tools, data, and

dates.

and products with no coupon codes or expiry

years of experience to provide workshops and

guidance, make recommendations and assess your specific needs to close gaps and

Log On & Take Control

optimize growth.

You can easily manage and run your small

Orchestrate: CDW’s experienced engineers

access to quotes, orders, and advanced reporting

configure and deploy the solution to ensure you have the right technology in place and

that it works right the first time. The talented

engineers create a roadmap to help you get

the most out of your technology solutions and get the value you expect.

Manage: You can save money and time, and

even increase your internal IT team bandwidth, with expert management and 24/7 support of all aspects of your technology solutions.

Compliance: CDW helps small businesses

accomplish and uphold compliance with every latest standard (PCI DSS, ISO, etc.) through its risk advisory services. If your business wants

to meet these standards for the very first time or maintain them as they develop, CDW has years of experience and expertise to assist.

35 - CanadianSME - February 2022

business through an online account with real-time tools.

Membership Shipping

With CDW's Membership Shipping Program, you can receive ground shipping on any order (products weighing not more than 75 pounds) at no additional cost.

Expert Advice

CDW's talented team of experts works with major technology brands to develop top-notch IT

solutions and services tailored to your unique

business needs. From a solution specialist to a

backup account manager, you can get IT advice at every stage without any cost. You can have access to all the tools along with expert advice at CDW. To learn more visit: CDW.ca/smallbusiness

Small Business Chat with Navin Arora

Navin Arora

Executive Vice-president and President, TELUS Business Solutions

Navin leads a national team of more than

providing world-leading technology

sales, marketing, product development, customer experience, strategy and operations for all TELUS business customers across Canada. As part of his national portfolio, he oversees TELUS Enterprise Solutions, TELUS Small & Medium Business, TELUS’ Employer, Partner and Financial Solutions teams, as well as GoCo, one of Canada’s leading managed service providers.

and virtual care solutions that power the digital workplace of the future.

5,500 team members and oversees the endto-end portfolio for B2B nationally, including

From local small businesses and tech startups, to medium-sized manufacturers, large national businesses and public sector agencies, Navin and his team are working with thousands of organizations of every size across Canada to reimagine the way technology can be used to thrive in a digital world. Under his leadership, the team is

capabilities, ranging from network connectivity, collaboration, security, 5G, IoT

Since joining TELUS in 1999, Navin has held senior leadership roles with increasing responsibility across various parts of the organization, including Business Solutions, Partner Solutions, Consumer, and Technology and Operations. He’s played a crucial role in steering some of TELUS’ most successful market growth and service innovation strategies and has guided several transformations that have driven industryleading business growth, customer loyalty and operational excellence.

Small Business TELUS, Canada’s leading healthcare technology company, and its TELUS Business division now provide small business owners and employees on smartphone plans with access to the TELUS Health Virtual Care app-based service at no extra cost to help them and their teams prioritize their mental and physical health when and where it’s most convenient for them. We got more insights from Navin Arora, Executive Vice-president, TELUS Business Solutions. In this exclusive Q/A Navin discusses how services like virtual health care can help small businesses succeed, why mental health should be a priority amongst small business owners and shared his future predictions for the small business owners in Canada in 2022.

support, and seeing how owners have

pivoted so quickly to adapt. The pandemic

really pushed more people and businesses to go digital, and there’s no going back, so we really feel we have to do our part and

help support our business customers both

professionally through their transformation and also personally with health and wellbeing support.

How can services like virtual health care help small businesses succeed?

What made you offer TELUS Health Virtual Care to small businesses and how will this support them?

Coming out of the pandemic, I believe virtual

We’ve always been proud to support Canadian small

options such as this is a win-win for small

in a series of activities we’ve launched to give them

highly differentiated to their employees and

include our $1.5M commitment to #StandWithOwners

with retention, engagement, and productivity.

give them the exposure their business needed and the

access health services where and when they

know the pandemic has put huge pressure on owners

larger organizations that have more robust

care will continue to be prevalent and

expected by Canadians. The labor market is

really competitive, and offering virtual health

businesses, and TELUS Health Virtual Care is the latest

businesses. Employers can offer something

greater value and peace of mind. Other programs

their families at no extra cost, which helps

where we helped profile owners across Canada to

And employees and their families can safely

launch of TELUS’ Owners Advantage Mobility Plan. We

need them, which is typically reserved for

to run their businesses and focus on well-being, for

benefits plans.

themselves and their employees, so we really want to continue doing our part and make it easier for them, their employees, and families to access healthcare support they need.

How much do you think this pandemic has posed a threat to small business owners?

Small businesses are one of the hardest impacted

groups, and for many, it would have been very difficult to prepare for all the different challenges. The

pressure to stay afloat, take care of their family and employees, while dealing with the challenges of

moving their business online, has been immense, and I’ve been blown away by the stories of resilience,

What do you think about keeping mental health a priority amongst small business owners?

I think a focus on mental health is vital. Dr. Diane McIntosh, our Chief Neuroscience

Officer at TELUS, recently shared that “In any given year, one in five Canadians will

experience symptoms of a mental illness.”

Small Business Small businesses make up nearly 98 percent of

businesses in Canada, and many times its members

of the family working in that business, so imagine the impact on all these hard-working owners, and their

offering this up so owners, their employees, and families can prioritize their health.

How can small business owners keep

mental health, and providing support for their

themselves mentally healthy during these tough times? Could you please share some strategies?

good business.

I think one of the most helpful strategies for

family members who support them. Small business owners taking care of their own and their family’s

employees to do so as well, is good leadership and

As a world-leading technology company, TELUS is committed to leveraging the power of technology to deliver connected solutions.

How is technology important today?

anyone is to make the most of the resources and support around you.

For our part, we hosted a webinar and virtual

discussion on mental health and wellness with mental health experts and Canadian small

Connectivity is a resource that is as important as

business owners. There were some great

huge and vast geography with people spread out

to get burnt out as an entrepreneur, and how

reinforced the importance of connectivity and

on your network, and always check in on their

any other type of infrastructure. Canada has a

stories from owners who shared how easy it is

across the country, and the pandemic really

important it is to take time for yourself, lean

technology for society and day-to-day lives. It also

own and their team’s mental health.

demonstrated how we really do live in a digital

world. We take great pride in using our technology

FaceTime with family, work from home with fast

What are your future predictions for small business owners in Canada in 2022?

experts. We also take great responsibility in helping

Small businesses have weathered a ton of

to bridge the digital divide and enable the

connections that matter, like being able to

connections, and get remote access to health

to drive meaningful change in society, whether it’s improving access to virtual health services,

addressing global food sustainability issues in agriculture, or enabling cities to operate more safely and sustainably.

challenges and shown us how resilient and

adaptable they can be. My prediction is that more owners and small businesses will

embrace digital technology to transform their businesses so they can thrive in a post-

pandemic environment. However, there’s a lot

What is the Unique Selling Point of TELUS Health Virtual Care being offered to Small Business customers?

What’s great about this service is that it’s easier to get the health support you need by being able to

book an appointment on your device anywhere and anytime you need it, and for Small Business

mobility customers to get that support at no

additional cost. I think the other important piece is that we have over a decade of providing leading health technology, and we want to use that

technology for good, which is a big reason for

of pressure to overcome, especially with

supply chain disruptions and shortages in a

competitive labor market. Only 30 percent of small businesses are back to pre-pandemic

revenue levels and only 42 percent are back

to pre-pandemic staffing levels. So I think the key will be to differentiate through some

variations of e-commerce, curbside pick-up,

and delivery, and to get really creative around attracting, engaging, and retaining employees so they can get a leg up against larger

businesses. I also think as individuals we have to do our part and continue shopping locally to support their success.

HOW TO BUILD THE BEST BUSINESS PLAN EVER: STEP-BY-STEP GUIDE Whether you're just starting out or running a mature business, it pays to have an up-to-date business plan to help you navigate its future. A playbook for your goals, priorities and growth opportunities, your business plan will help you chart a successful path forward.

Seven steps to building your business plan.

1. Introduction The substance of your introductory

section (beyond your cover page and table of contents) is the Executive Summary. The Executive Summary

should identify what your business does, covering:

Your industry and target market Creating a business plan is a crucial task for any

business, and one which requires you to be thoughtful

about the direction of your business, consider the goals most important to you, and how you will go about achieving them.

A solid business plan will give you the confidence that

you will find success, and may even reveal some gaps

and risks. In fact, studies show entrepreneurs who start with a written business plan are more successful than those who don’t.

Whether you’re creating a roadmap to follow as a new business owner, need a pitch to attract investors or a

document to engage stakeholders, a business plan is a living document you’ll want to update regularly as your business, goals, and circumstances evolve.

While some business owners consider writing a business plan an overwhelming step, it doesn’t have to be.

Creating the best business plan ever is a matter of

breaking it down into individual steps — and then taking them one at a time.

39 - CanadianSME - February 2022

How you stand out from your competition

Whether your business is a sole proprietorship, partnership or incorporated business

The stage of your business — whether

it is a start-up or already in operation Your team’s experience and credentials

Your projected financial performance While your Executive Summary has to

work hard, it should be clear and to the point, grabbing the reader’s attention

and compelling them to read more — a good rule of thumb is to keep this

section to one page. While the Executive Summary is structurally the first section of your plan, many owners will write it

last, since it’s a summary of everything else you’ve written about.

Small Business Important Things to Consider as a New Business Owner Starting a new business? RBC Business Account Manager Jeffrey Heard offers these thoughts: Because you’re a new business owner, your

Considerations for Seasoned Business Owners If you’re running an established business, Senior

Relationship Manager Joshua Morawetz provides these tips:

bank and potential investors don’t have

Your business plan should identify what

must clearly convey your strategy,

working (and what’s not) and outline costs,

historical data to review. Your plan therefore

differentiates your business from others, what’s

competencies, and the reasons your venture

efficiencies, competitors, and objectives.

will be successful.

As an important vehicle to help you secure

Detailed, well-thought-out financial

funding, your business plan should include

your business plan. You’ll want to show how

the management team – including expansion

drive revenue, and detail both fixed and

projected financing needs.

projections are an important component of

cash flow projections and the objectives for

your business could service debt, how you’ll

opportunities, asset accumulation, and

variable costs.

As you’re writing or revising your plan, identify

As you write your plan, focus on your

the team who supports you, your talent

from other businesses, your key success

to remain competitive in an increasingly

competitive advantage — what separates you

pipeline, your succession plan, and your plan

factors, your team, and areas of opportunity

competitive environment.

and focus over the next six to eighteen months.

2. The Business Environment This section sets out the history and summary of your business in detail, identifying what you’re

selling and how you’re solving a problem or need in the market. If your business is already

established, you’ll want to cover its path to this

point — where you started and how you got here.

If you’re starting a new business, be sure to include any pre-market research or testing

you’ve conducted that speaks to the viability of your idea.

You will also want to highlight the industry trends and growth prospects, as well as how your business fits into the current environment.

Identifying your competition and how you stand apart from them will also help you determine your position within the industry.

40 - CanadianSME - February 2022

3. The Marketing Plan — Where you want to go and how you will get there Your Marketing Plan explains how you’re going to get your customers to buy your products or

services. Part of this exercise involves identifying

your target market — the group of customers you want to sell to. It should also include:

Small Business Your products, service, and unique selling

proposition. What are the features of your product or service and what makes it unique? How is it different from what your competitors offer?

Your pricing strategy. Determining the price to charge can seem tricky – you want it to be

competitive but still make a reasonable profit.

Calculating your costs, estimating the benefits to

customers, and comparing your offering to others can help you come up with the price

Your sales and delivery strategy. How will your

product or service get to your customers? And how much will it cost? How will you manage your inventory and transaction processing?

Advertising and promotion strategy. Here you’ll

want to describe how you’re going to deliver your unique selling proposition to your prospective

customers. Start by thinking about the message

4. Operations The Operations section of your business

plan describes what’s physically necessary for your business.

This section contains two main categories: Your stage of development: This should

highlight what you’ve done to date to get the business operational, then follow up

with an explanation of what still needs to be done.

The production process: This lays out the details of your business’s day-to-day operations, including your hours of

operation, any manufacturing details

such as facility, equipment and material

requirements, inventory, costs and more.

you want to deliver and the advertising and

promotion tactics (website, social media, emails,

radio, magazines) which will reach your audience

most effectively. Be sure to prioritize your activities and budget for them accordingly.

Let Us Help You Build Your Business Plan Building a business plan is a critical step to the

5. Financing and Cash Flow Planning The Finance section is your opportunity to determine how strong your business is

financial. It’s important to be very realistic

about your expenses and projected income so you can properly assess your business’

success of any business – but RBC recognizes that it’s

financial health as early as possible.

Business Plan Builder, you don’t have to. This

If you’re running an existing business, your

questions, offering resources and providing a

financial statements:

not always easy to do on your own. With the new RBC

comprehensive tool will guide you through a series of

goal here is to populate three main

framework for success. The business plan can be completed in as little as 30 minutes.

Your cash flow statement, which reflects

how much money your business has at a particular point in time

Try The Business Plan Builder Now

Your income statement, which shows

your profit and loss for a period of time Your balance sheet, which is a financial snapshot of your business.

41 - CanadianSME - February 2022

Small Business In order to do that you’ll need to calculate your

Keep in mind, your business plan is a living,

operating costs — and your income.

revisited — regardless of whether you are a

expenses — both your one-time and ongoing

If you haven’t started your business yet, you will

breathing document that should be regularly new owner or run an established business.

really only be able to populate your expenses — but they are important to calculate now because they

will reveal how much start-up financing you need to get your business up and running.

“Things change, the world changes — your business plan should change with it,” advises RBC Commercial Account Manager Jeffrey

6. The Team Great ideas need great teams behind them, so this

section should describe your current team as well as

Heard. “It’s not a document to be written and filed away — adaptability is key to the success of any business, and your plan should be updated as you change course.”

anyone you might need to hire to round out your

company. Be sure to talk about your own skills and strengths, as well as the others who make up your

team with detailed management team profiles, the credentials of your Board of Advisors (if you have

You’ll want to review your plan to understand

relationships with, such as lawyers, accountants,

environment and operating model are coming

one) and the professional partners you have bankers and any consultants.

An overview of your Human Resources processes, which will address labour, compensation, training and other operational aspects of managing your people, can round out this section.

7. Risks and Conclusions Every business comes with some risk — so it’s better

to be prepared for risks now rather than be surprised

how your goals, priorities, competitive

together to deliver on your ambitions. And, as the more business planning and sales

forecasting become part of your routine, the

more prepared you will be to make strategic

decisions to drive the business outcomes you’re striving for. The result is greater confidence and agility to take on new challenges and opportunities as they appear.

This article was originally published on RBC’s Discover & Learn blog.

by them later. In this section, include all the possible

risks your business could face, such as the economy, your competition, the illness of a key team member,

or delayed receivables. You’ll then want to detail how you plan to minimize or address these risks so you’re ready to tackle them head-on.

In the Conclusions section, you will restate your

goals and objectives. If the purpose of your business plan is to get financing, you will want to clearly state the amount required and what it will be used for. As

with your Executive Summary, your conclusion should be succinct, clear, and leave a positive impression on the reader.

42 - CanadianSME - February 2022

The information in this tool is provided for general information purposes only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or its affiliates.

4 DIGITAL INFRASTRUCTURE PREDICTION DEFINING THE NEXT DECADE How hybrid multicloud, AI/ML, security, sustainability will impact the digital landscape

By Milind Wagle, CIO, Equinix Today’s CIOs—from all types of companies—are on an

Hybrid multicloud will become the

their ability to dynamically deploy and consume the

application modernization and

accelerated digital transformation journey. They realize right digital infrastructure, securely and sustainably, will be the primary basis of competitive advantage in the

future. According to IDC, by 2023, digital infrastructure will be the underlying platform for all IT and business

automation initiatives anywhere and everywhere. Such

a platform needs to enable the frictionless exchange of data and operations across ecosystems from edge to core.

As we collaborate with our more than 10,000 enterprise

customers and partners around the globe to drive their

digital infrastructure strategies, we see trends unfolding that will render the bespoke nature of deploying and

consuming IT extinct within just a few years. Driven by the requirement for agile, automated, as a Service

digital infrastructure that’s software-defined and selfoperating, DevOps engineers will be taking the lead in

delivering new on-demand IT services and applications.

“Building Digital Infrastructure to Achieve Business Advantage,” Doc. #US47031620, IDC, Sponsored by Equinix, December 2020.

predominant architecture in

infrastructure service delivery, giving rise to new complexity challenges that require more programmable infrastructure, transparent asset

management and cost predictability.

In the next five years, artificial

intelligence and machine learning

(AI/ML) will increase in sophistication as enterprises demand infrastructure and applications that are

operationally self-resilient. This shift will reduce the reliance on human involvement and leverage greater machine processing power that enables environments to

autonomously anticipate and

dynamically adapt to changing resource demands.

<CTA: Platform Vision Paper banner and link>

Small Business In this new world, security will no longer be an

afterthought, as enterprises will assume that digital infrastructure services are secure by design and

Cloud automation will accelerate digital infrastructure consumption

configurable through software. Sustainability is now

Hybrid multi-cloud complexity is increasing

non-negotiable measure of business success as

cloud and on-premises workloads. Cloud

universally commit to a net-zero carbon footprint for

cloud services will significantly reduce the

an expectation for every business. It will be a core,

as the lines blur between private and public

companies and their supply chain partners

automation that leverages AI/ML-enabled

every facility, product, and service development.

management overhead and costs of public

Given this dynamic digital transformation landscape,

automation will also improve critical

drivers that will accelerate and power digital

modernization and security for risk

next decade. Read on to hear from some of our

architectures—accelerating labor-intensive

cloud infrastructure and operations. Cloud

our 2022 predictions dig deeper into the prevailing

functions such as DevOps for application

infrastructure deployment and consumption over the

detection across hybrid multi-cloud

leaders in regards to what businesses should

functions for greater optimization.

compete in an increasingly digital future.

Implications: Cloud automation will simplify

consider as they set their organizations up to

creating and configuring cloud computing assets and streamline complex billing and

Prediction #1:

ordering systems across multiple cloud Overcoming hybrid multicloud

complexity will dictate digital-first success

platforms. More importantly, reaction-

driven automation systems will be able to detect when it’s time to allocate and

deallocate dynamic resources as demand increases or decreases, eliminating the

legacy processes that make this a more

Leanne Starace, SVP, Global Technical Sale

complex and time-consuming operation.

Ultimately, emerging platforms and tools in

cloud automation will significantly advance digital infrastructure development,

management, consumption, and security, By 2023, 40% of the Forbes Global 2000 will reset

their cloud selection processes to focus on business outcomes rather than IT requirements. One of the biggest challenges for IT in this transition will be

supporting the organization’s business strategy via hybrid multi-cloud while managing increased

complexity. Over the next decade, hybrid multi-cloud will play a prominent role in determining how

organizations advance their digital-first strategies and consume IT Infrastructure as a Service. Digital

leaders who overcome cloud, data, and ecosystem complexity through automation, AI/ML, APIs, and

edge services will gain a significant competitive edge.

“IDC FutureScape: Worldwide IT Industry 2022 Predictions,” Doc. #US48312921, IDC, October 2021.

as everything will be software-defined.

Small Business Connected cloud ecosystems will ramp

What it Means for Canadian Businesses

up infrastructure agility

By Andrew Eppich, Managing Director, Canada

Going forward, hybrid multicloud will

become a team sport. Working with an interconnected ecosystem of diverse

cloud service providers will help unlock advanced use cases and new sources

of business value. To keep hybrid multicloud environments functioning as a

coherent whole rather than a series of

disjointed pieces, enterprises will need to democratize cloud access and

leverage AI/ML to move workloads

between clouds dynamically. Cloud-

native companies will also be switching

sides as they come out of the cloud into on-premises infrastructure for greater performance and scalability, giving

According to a technology solutions provider, reseller and Equinix partner, CDW Canada, 52 percent of Canadian organizations already have or plan to invest in cloud-

based infrastructure and applications, and it isn’t hard to see why.

Furthermore, Equinix’s most recent Global Interconnection Index (GXI Vol. 5) found that the pandemic-driven

acceleration of digital transformation is not letting up.

Digital leaders – businesses that were already

implementing a digital-first strategy – are moving four

times faster than pre-pandemic levels. As a result, what might have taken two years is now achievable within 6

months – and that trend is only likely to accelerate from here.

enterprises more hybrid cloud choice.

Implications: To hit the sweet spot of

capitalizing on hybrid multi-cloud value

Prediction #2:

AI/ML at the edge will power

5G and IoT

while mitigating complexity and cost, enterprises will use ecosystem

partnerships in new and innovative

ways, driving greater cloud repatriation.

The need to move workloads out of the

cloud to on-premises infrastructure will

Kaladhar Voruganti, Senior Fellow with the Office of the CTO

drive enterprises to leverage Bare Metal as a Service and Edge as a Service offering in a cloud-adjacent

architecture to improve infrastructure agility, reduce data egress costs, and

Data at the edge is exploding as 5G and IoT technologies

a vendor-neutral ecosystem,

projected to reach $43.4 billion by 2027. Information from

extension of their private infrastructure

medical IoT devices will require real-time AI/ML model

infrastructure agility to maximize the

become pervasive in every aspect of human life: AI-

as Kubernetes, containers, and

transporting food, to delivering groceries, to cooking.

critical role in these workload

policies to better address the ethics of AI/ML with respect

increase data protection and privacy. In

flourish, driving a global edge computing market that’s

enterprises can use public clouds as an

autonomous vehicles, drones, surveillance cameras, and

and vice versa, creating the

inferencing at the edge. Over the next decade, AI/ML will

value of both. Open-source tools such

powered robots will provide services from growing and

microservices will continue to play a

Advances will be made in the arena of legal/public

migrations, while APIs will help

to fairness, explainability and privacy protection.

enterprises templatize and automate the deployment of migration circuits.

45 - CanadianSME - February 2022

“Edge Computing Market Size To Expand At 37.4% CAGR By 2027,” Million Insights, Feb. 10, 2021.

Data control and governance needs will give rise to AI marketplaces

Organizations will increasingly need to

leverage external data (i.e., from public

Increasingly, AI is being used to solve more complex problems that are using datasets that are 1000x

larger than those from two years ago and require about 1000x more powerful computing power.

clouds, data brokers, IoT devices) to build

Implications: We are entering the era of federated

providers have been hesitant to share raw

decentralized system of distributed computational

more accurate AI/ML models. However, data data that might get used for unauthorized purposes by consumers. Similarly, data

consumers are concerned about the lineage of the data and models (in transfer learning

scenarios) that they are getting from external

sources for security, bias, and quality reasons.

Implications: Enterprises will leverage AI

AI/ML, where model training happens in a

devices at the edge, with organizations shipping

algorithms to the edge instead of sending raw data to a centralized location. Models are trained at the edge and only model weights are then sent to an

aggregation location to build a global AI model,

thereby reducing cost and latency and preserving data privacy.

marketplaces to trade data and algorithms

Over the next five years, more powerful AI model

privacy-preserving manner in order to

denser—hundreds of thousands of cores on a wafer to

between multiple parties in a safe and maintain the chain of custody. AI

marketplaces will be blockchain-enabled to

help consumers keep track of the lineage of data and AI models. They will also provide

secure enclaves at neutral locations, where raw data never leaves the enclave, helping providers to keep control over their data.

training hardware solutions will emerge that are much handle the training needs of these complex AI

problems. This next-generation AI training hardware will consume 40KW+ of power per rack, which will

require liquid cooling. Furthermore, problem-specific ASIC/FPGA-based solutions will emerge for AI

inferencing that will be more power-efficient and provide better AI inference throughput.

Federated and wafer-scale AI will enable

What it Means for Canadian Businesses

next-generation AI scalability

By Andrew Eppich, Managing Director, Canada

As data generated at the edge multiplies, it

becomes less cost-effective and performant to move it to a centralized location for

processing. It’s also critical that data remains within an organization’s/country’s security

perimeter for privacy and compliance. Over

the next five years, data gravity, latency and

Canada is a global leader in AI research and development, with the University of Toronto

collaborating with some of the largest technology companies globally. The Artificial Intelligence and

Machine Learning market will accelerate and continue to fuel Canada’s tech sector in 2022.

privacy will shift AI architectures from a centralized model to a distributed one,

making distributed AI orchestrators and control planes the norm.

46 - CanadianSME - February 2022

AI Next Campaign, Defense Advanced Research Projects Agency (DARMA).

Small Business The 2021 federal budget included a $443.8 million

commitment to growing the Canadian Institute for Advanced Research (CIFAR)-led Pan-Canadian

Converged security and zero trust will increase the difficulty and cost to attackers

Artificial Intelligence Strategy over 10 years while

Many organizations still manage security

globally. These latter two findings are consistent with

the same principles and architecture

Toronto is the number four market for tech talent

Equinix research that cited Toronto and Montreal tied for second place (behind Mexico City) among edge metros in North and South America, indicating the rapid exchange of data that powers artificial

intelligence is not slowing down anytime soon.

While Canada has lagged behind the US and EMEA in the development of its 5G infrastructure in recent

years, Canada’s big Telecoms – Bell Canada, Rogers, and Telus - will make major strides in 2022 in

developing their networks. As a result, businesses will begin to embrace industrial IoT like never before.

from within siloed functions and do not share necessary to help drive greater visibility and

control. Breaking down silos and establishing

converged cybersecurity environments will be a top priority for Chief Information Security Officers (CISOs) as organizations extend

their digital footprint. With cloud and edge deployments, increased operational

technology footprints, as well as a distributed workforce, CISOs will prioritize viewing their business as attackers do, a converged physical and digital threatscape.

Implications: Security will become everyone’s job; however, CISOs will lead the charge,

Prediction #3:

New trust models will top the

cybersecurity agenda

deploying zero-trust environments that

integrate IT, OT, and all digital visibility and

control. Expect to see businesses and cloud

providers strengthen forces to design shared responsibility frameworks and implement

solutions that deliver continuous compliance,

Michael Montoya, Chief Information Security Officer, Equinix

trust, and transparency. Given that every company is now a software company,

applying DevSecOps models and secure

software development life cycles (SSDLC) will ensure automated security throughout the development process.

Cyberattacks are increasing sharply as the global

pandemic continues, leading to a predicted cost of more than $6 trillion globally in 2021 and $10.5 trillion annually by 2025. Despite the risks,

companies will continue to embrace cloud services and extend traditional network boundaries to

employees and partners that are essential to

building digital advantage. As companies pursue their digital business models, cybercriminals continue to outpace the industry with their

sophisticated attacks. Technology leaders must help their companies navigate today’s threats and

balance the risks as they anticipate and stay ahead of what’s next.

Cybersecurity Ventures, Cybercrime To Cost The World $10.5 Trillion Annually By 2025, Nov. 13, 2020

Small Business Governments will take a more active role in cyberattack

Of note, while 44% of digital leaders are less

offensive measures

concerned about security threats within the

Governments increasingly recognize cyberattacks

half (47%) cite data leaks and cyber threats

rising attacks on infrastructure and other critical

as a major threat to their organization.

involvement to help the industry combat security

As the volume and brazenness of cyber

and collaboration with businesses have the potential

government and industry leaders will come

increasingly complex for companies to operate.

combat this prevalent threat by examining

Implications: Governments will impose new

critical utilities going forward.

and ransomware demands as national threats. Given sectors, governments are increasing their

cloud compared to 62% a year ago, almost

as a result of more user-distributed devices

breaches. While increased government involvement

attacks continue to increase, the federal

for good, increased regulation will make it

together to make a concerted effort to

how to best protect digital infrastructure in

regulations on companies—including increased disclosure of attacks and notice of breaches— mandating more information sharing and

introducing new certification requirements, like the

Cybersecurity Maturity Model Certification (CMMC)

Prediction #4:

Businesses worldwide will

move to net-zero

in the United States. Given the complexities of

evolving government regulations and cybersecurity

laws, governments will require companies to include

David Hall,

greater security expertise on their Board of Directors similar to what they have for finance expertise.

Fellow Technology and Architecture with the Office of the CTO

What it Means for Canadian Businesses

By Andrew Eppich, Managing Director, Canada

Digital transformation and hybrid work weren’t the

only trends accelerated by the COVID-19 pandemic – cyberattacks were too. According to a survey by

Canadian Internet Registration Authority (CIRA), 36 percent of organizations witnessed a rise in the

volume of cyberattacks during the pandemic, with 17 percent hit with ransomware. Almost half of the

Canadian cybersecurity professionals say they are more worried about their IT security footprint and policies in light of the pandemic than before.

Not surprising, the Canadian findings of Equinix’s

Global Tech Trends Survey found that IT decisionmakers biggest priorities going forward for their

organization’s digital strategy, 77% of respondents cited migrating to the cloud was their top priority,

followed closely by digitizing their IT infrastructure (75%) and improving cybersecurity (75%).

48 - CanadianSME - February 2022

Green initiatives are now foundational for

success in public and private organizations worldwide. In his 2021 Letter to CEOs, Larry Fink, Chairman and CEO of asset

management firm BlackRock, represents investors’ commitment to a sustainable

future: “The world is moving to net-zero, and BlackRock believes that our clients are best served by being at the forefront of that

transition.” Sustainability is driving innovation in digital infrastructure that extends from

business policies and operations to end-toend supply chains.

Sustainability and technology innovation will merge

From sustainability financing to renewable

energy innovations, IT organizations worldwide are rethinking their operational policies,

Small Business innovating their product designs and optimizing their supply chain partnerships with business, technology, and strategies that align with the planet’s climate goals.

Implications: Industry leaders will be more

aggressive about integrating sustainability

innovations into the data center and digital

infrastructure deployments and product/service

development and delivery. Companies will prioritize

using eco-friendly building and product designs and materials including low-carbon concrete, fossil-free steel, fewer plastics, and more recycled content

throughout their supply chains. C-level executives will make it a priority to continuously assess the

biodiversity implications of business decisions to

ensure they are making a positive impact on water conservation and waste reduction.

The industry is committed to net-zero; within the decade, data centers will be powered by 100% renewable energy

An IDG survey of 2,000 global IT leaders reported

that 90% of respondents identified sustainability as a priority and/or a performance metric for their

organization. To ramp down the average data center power unit efficiency (PUE) from 1.59 to near 1, businesses are innovating with liquid cooling,

modular power bricks, energy efficiency retrofits,

and machine learning models that predict power

and space usage patterns. Advances in prime clean and renewable energy sources/stores such as fuel cells and green hydrogen are further accelerating

the path to grid positivity, as is recycling data center waste heat for heating residential areas.

Global market forces are already looking beyond

climate neutrality and aiming for true net-zero—no carbon at all—in their operations and across their supply chains. This means, over the next decade,

companies, governments, and their partners all need to align to achieve science-based targets that will

reduce greenhouse gas emissions by approximately 50% by 2030.

“No Turning Back: How the Pandemic Reshaped Digital Business Agendas,” IDG, 2020.

Implications: To participate in the emerging circular energy economy, businesses must proactively forge municipality/community

partnerships with energy/utility leaders and deploy more sustainable business models that leverage cloud and colocation

partners. Over the next decade, all data

centers will be 100% renewable, creating a

sea change that gives rise to green supply chains and new economies built around

low-carbon materials. To reach net-zero, companies will pursue sustainability-

focused operational excellence, innovation,

and reporting initiatives, which include using green power sources versus buying offsets

for renewable energy and returning it to the grid. It also means reorganizing complex

supply chains to prioritize vendors, products, and services that enable the transition to a low-carbon world.

Mary Zhang, “How Data Centers Impact the Environment,” Dgtl Infra, Feb. 1, 2021.

Small Business Creating digital infrastructure that’s future-ready

To learn how you can future-proof your

At Equinix, regularly stepping back to consider the

digital infrastructure at software speed, read

shifts that will unfold over digital infrastructure’s next

business by building and interconnecting the Platform Equinix Vision Paper.

decade is critical as we work to stay ahead of what

our customers will need next. Digital infrastructure is now a primary driver of competitive advantage, and the stakes to getting it right are only getting higher.

In fact, Enterprise and Service Provider benchmark data in the Global Interconnection Index (GXI)

Volume 5, a market study recently published by

Equinix, shows that businesses with a digital-first strategy are moving 4.5x farther ahead by

leveraging interconnection to deploy and consume digital infrastructure.

As the world’s digital infrastructure company™, we

are committed to providing a trusted global platform that delivers everything digital leaders need to accelerate the transformation and advance

competitive advantage. By keeping our eyes on the horizon, we can equip Platform Equinix® to be both fit for today and then tomorrow to come.

You can see digital infrastructure’s future come into clearer view at Equinix as we:

Create foundational infrastructure to streamline

hybrid multi-cloud deployments, offering a choice of physical and virtual building blocks across the network, compute, and storage globally.

Deliver our services through software, leveraging digital and programmable interfaces, AI/ML, and

What it Means for Canadian Businesses

automation so that digital businesses can

By Andrew Eppich, Managing Director, Canada

and on-demand with agility and speed.

The federal government has committed to

broader range of interconnection options that

and abroad via its 2020-2023 Departmental

transact with customers, suppliers, and partners

the United Nations 2030 Agenda for

Drive our Future First sustainability strategy,

strategies growing in prominence across

better future and then do what it takes to make it

at all levels of government, more and more

securely consume IT infrastructure self-service Power our interconnected ecosystems with a

advancing sustainable development at home

allow digital leaders to easily discover and

Sustainable Development Strategy, based on

to create and consume new value.

Sustainable Development. With ESG

rallying our people and partners to envision a

major industry sectors with growing support

happen.

business leaders will be empowered to build out their sustainability efforts in the year ahead.

“Special Report: Global Warming of 1.5 C, Summary for Policymakers,” IPPC, Oct. 6, 2018.

Small Business Of The Year UP TO 10 EMPLOYEES

APPLY NOW NOMINATION DEADLINE FEBRUARY 25TH, 2022 WWW.SMEAWARDS.CA

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Succession Planning for Women Entrepreneurs How to set your short- or long-term leave up for success

By Amanda Hudson HR and People Management Expert, Founder, A Modern Way to Work

Starting and running a small or medium-sized business takes an incredible amount of

passion, energy, and time. And

Here are four key succession planning points to help get you started.

while our culture and the

1. Drop the guilt

entrepreneurs for their hustle,

Given the number of hours and the relentless effort most

that doesn’t get nearly enough

we sometimes feel guilty when the opportunity to delegate

taking short- or long-term

our task lists shrink, the more uncomfortable many women

media tend to reward women grit, and dedication, one topic

entrepreneurs put into growing their business, it’s not surprising

air time is the challenge of

finally arrives. The more staff we bring on in fact, and the faster

leave as a female business

entrepreneurs feel about freeing up their time.

owner.

It’s because so many business owners spend their lives doing,

Whether we’re retiring, taking

achieving, and being generally productive that they tend to

mental health sabbatical, or

looking for ways to fill it.

education or start another

So, while taking an extended leave can seem appealing on the

ourselves—even temporarily—

working (or working less) before that leave happens.

poured ourselves into can feel

The first step to letting go of the guilt that can sabotage leave-

frightening.

extended time away from your business—even if you’re just

maternity leave, planning a

stepping away to pursue an

business, the idea of removing from the company we’ve

inconceivable, if not flat-out

With the right approach,

panic when they find extra time on their hands—and start

surface, it’s important to feel comfortable with the idea of not

taking is, to be honest with yourself: Do you feel ready to enjoy moving into a position requiring fewer hours of effort?

however, it is possible to

If the thought of working less makes you uneasy, it could be

successfully take a break from

productivity. By evaluating and reframing these core beliefs, you

create the space you need to

time to examine the beliefs you hold about work and

your business.

may find it easier to feel good about the time you’re taking off.

Small Business 2. Make time to plan

4. Invest in your team

Our team recently had the opportunity to support

While it’s reasonable to assume investing in

of her son—and another who was transitioning her

necessarily the case.

one small business owner taking leave after the birth day-to-day business operations to a new president.

What did these two women have in common?

a team takes a lot of money, this isn’t

Getting the most from your team, in fact, can simply mean:

They both began laying the foundation for a

Spending the time to build relationships

advance.

Giving people the tools they need to be

successful leadership change some years in

That didn’t necessarily mean they had just the right people lined up to succeed them. But it did include

investing in great people management and the right strategic HR initiatives to support growth and change in the future.

Given that the need to take leave is expected in

many cases, the earlier you enlist help getting your succession planning in place, the more successful your transition will be.

and deepen trust successful

Thinking about your employees' future development

Ensuring they have access to great managers to help guide their work

Sure, you can throw a lot of money at people to help build your team. But giving of your

time and prioritizing your team is equally, if not more important.

Not only is this kind of investment known to yield far greater rewards than a high base

3. Practice trusting others One of the biggest hurdles we face as entrepreneurs is trusting in the ability of others to perform to our

salary in many cases, but it will also prove

especially beneficial when the time comes to take your leave with confidence.

Final thoughts

own personal standards.

Whatever their reason for taking short- or

Let’s face it: as the owner of your business, you’ll be

entrepreneurs we work with struggle to see

as you do, or who’s capable of delivering the same

businesses run without them.

trust and rely on others to get the work done.

In truth, however, whether you employ five

As you plan your leave, try to accept that different

succession planning is always open to you.

your best to stay focused on outcomes; not on the

your business operates—and not rely on the

hard-pressed to find anyone willing to work as hard results. That doesn’t mean, however, that you can’t

long-term leave, many of the women

themselves stepping back and having their

people or fifty, the option to engage in

people approach work in different ways—and do

The key is to own your desires around how

methods by which results are achieved.

limiting narratives those around you may be

Remember: The best way to build trust is to extend it. And as a business owner, you have the perfect opportunity to practice trusting others every day.

54 - CanadianSME - February 2022

sharing.

Yes. You can have a successful business and take leave too.

CAM LINKE

THE MAN OF CREATIVITY AND INNOVATION Cam Linke, CEO of Alberta Machine Intelligence Institute (Amii) is a longtime leader in Edmonton’s technology and startup community. Over the past 10 years, he has worked as a CEO, investor, community builder, product manager, software entrepreneur, academic, and developer. Past roles include Cofounder of Startup Edmonton, Founder of Flightpath Ventures, CEO of Touch Metric, Product Manager at Nexopia.com, and Founder of DemoCamp Edmonton. Linke is a sought-after speaker and mentor and has been recognized as Avenue Magazine Top 40 Under 40. He is also an artificial intelligence researcher, currently studying under Dr. Richard Sutton and Dr. Adam White. His research, which focuses on AI adapting behaviors to improve their own self-learning, has been published at top conferences.

Small Business With Alberta Machine Intelligence Institute, companies are able to develop their own expertise in artificial intelligence. They can build capabilities for advanced machine learning techniques and natural language processing technologies that will give them the edge over competitors. This exclusive interview with Cam Linke, CEO of Alberta Machine Intelligence Institute (Amii) features how Amii is helping companies build AI expertise and capabilities to gain a competitive edge. In this exclusive Q/A, Cam discusses Alberta Artificial Intelligence Ecosystem Initiative and its key achievements, which sectors can benefit most from AI, why NOW is the right time for businesses and government to invest in building AI capabilities and how investing in AI and ML can fuel Alberta and

Reinforcement learning will give our AI systems the ability to learn on their own and constantly update predictions.

Most AI we currently interact with are “learned” systems – in other words, they are trained in a lab setting, and then those learnings are fixed when put into an operational environment. These systems don’t typically continue to learn during normal operations. Reinforcement learning will give our AI systems the ability to learn on their own and constantly update predictions.

Canada’s and economic recovery and growth.

Q1. Could you please share with us how reinforcement learning is opening new routes to personalization across industry verticals?

In reinforcement learning the agent learns from its experience to make better decisions over time. This allows a system to learn to personalize each individual device or recommendation and learn to improve that over time - whether that’s personalizing a homepage, maintenance schedule, or treatment plan. Reinforcement learning is opening new routes to personalization as a result of the technology’s focus on selflearning through experience. In this case, personalization refers to the ability of an AI system to take relevant actions in an environment to achieve a goal that is unique to itself.

Concretely, Reinforcement learning can help us automatically offer more personalized experiences for e-commerce customers; it can allow us to create autonomous systems capable of operating in specific strategic and environmental conditions, and it can also help us develop new molecules that are uniquely tailored for particular conditions.

Most AI we currently interact with are “learned” systems – in other words, they are trained in a lab setting, and then those learnings are fixed when put into an operational environment. These systems don’t typically continue to learn during normal operations.

Q2. How Artificial Intelligence (AI) and Machine Learning (ML) can propel Alberta’s economic success forward?

AI and ML have emerged as key technologies to enable economic and business growth in Alberta in two main ways: supporting a diversified economy and generating business value.

The future of every industry, including Alberta’s current economic drivers, is going to have AI/ML as a core driver going forward. This is both giving the opportunity for new economic drivers and making sure that Alberta’s current economic drivers continue to lead. By investing in continuing to grow Alberta’s world-class AI sector, Government can encourage economic diversification by doubling down on our strengths and encouraging companies and individuals to turn to Alberta as a destination for AI. The growth of the AI sector will support innovation and growth in other economic sectors and will continue to develop Alberta’s rapidly growing technology and innovation sectors.

Similarly, businesses that take advantage of the growth in this sector will secure their next stage of competitive advantage, boosting the province’s economic success. Companies that begin their AI adoption journey now will have a first-mover advantage in accessing talent, improving their products and services, and breaking into new markets.

Small Business Q3. What sparked your passion for growing a vibrant Artificial Intelligence tech community?

I have always been passionate about using technology to build a better world. As a young professional in Alberta, I was looking for ways that my love of technology could benefit the province that I called home. Eventually, I learned about Alberta Machine Intelligence Institute (Amii) and the amazing AI work being done here. Like many people, I was shocked to learn that Alberta has a wealth of world-class AI talent and expertise.

Amii was a natural fit for me – as someone who believes in the power of entrepreneurship, research, technology, and innovation to solve our more pressing challenges, I joined the advisory board at the University of Alberta, and I’ve been helping to build Alberta’s AI community ever since.

Two years ago, I took on the role of CEO at Amii because I wanted to be more involved in supporting the leading-edge research coming out of our group and in developing the resources needed to help businesses succeed in AI. In just a couple of years, we’ve already seen major shifts in the ways companies are thinking about the importance of AI, and as we look toward the future of the PanCanadian AI Strategy, I think we’ll see many more important developments over the next ten years. And I’m excited that Alberta will be leading the way.

Q4. Which are the industrial sectors that can most benefit from the adoption of Artificial Intelligence?

AI and machine learning are platform technologies that will provide value across all sectors of the economy. It’s no stretch to say that every sector can benefit from adopting AI. However, a number of sectors are particularly poised to benefit from the use of these technologies.

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In healthcare, we generate massive amounts of data that can be used for all kinds of decisionmaking and process improvements. Increasing the use of AI in healthcare can help us deliver healthcare more efficiently and with less cost to the system. It can also improve patient care through targeted diagnostics and personalized treatment plans.

The energy sector is also a key industry that can benefit from the adoption of AI. As companies continue to improve their operations to make themselves more efficient and effective, AI and machine learning are key technologies to enable this change. In this domain, AI is particularly wellsuited to improving the performance of machines through predictive maintenance, identifying potential hazardous events, and streamlining processes to reduce emissions and improve efficiency.

In agriculture, AI can provide real-time insights in farming, allowing for early detection in areas that need irrigation, fertilization, or pesticide treatment.

Innovative farming practices like vertical agriculture may help increase food production while minimizing the use of resources resulting in reduced use of herbicides, better harvest quality, higher profits, and significant cost savings. AI technologies are used to reduce greenhouse gas emissions, with an explicit intention to influence and build capacity in agriculture companies to improve safety, operations, integrity performance, and increase economic earnings in a sustainable manner.

Biology is one of the most promising beneficiaries of AI, able to enhance biological research at every scale. From investigating genetic mutations that contribute to obesity to examining pathology samples for cancerous cells, biology produces an inordinate amount of complex, convoluted data.

Machine learning and deep learning will positively impact biological data science for its capabilities to process complex data. Information contained within datasets often offers valuable insights that could be used to improve health. For example, deep learning can accurately analyze chemical interactions within small molecules to predict the efficacy of targeting diseases ranging from Ebola to multiple sclerosis.

Small Business Q5. What is Alberta's role in scientific thought leadership in the AI ecosystem?

For more than two decades, Alberta has produced fundamental and applied advancements in the science of AI and machine learning. Researchers from Amii and the University of Alberta have produced major breakthroughs in the field of AI, including solving the game of checkers and achieving expert-level play at heads-up nolimit Texas hold’em.

Additionally, many of our alumni go on to lead research labs and continue to advance the field of AI in industry and academia. For example, David Silver, a graduate from the University of Alberta (who studied under Amii Fellows) has gone on to lead the AlphaGo team and achieved significant results in developing an AI Go-playing program.

Q6. Is it the best time for governments and businesses to invest in Artificial Intelligence?

Now is the time to invest in growing AI and machine learning capacity – both at an ecosystem-wide level and within organizations. These technologies are already generating vast economic value, supporting business growth, and powering competitive advantages across sectors.

Government and companies that seek to be early adopters will gain the first benefits of AI and will set the pace for future investments in this area.

On the other side of that equation, companies that are slow to adopt AI will see competitors begin to pull ahead due to their own AI adoption efforts. There is a carrotand-stick approach to AI adoption: the carrot is the massive economic value and business opportunity of AI; the stick is the reality that if your business isn’t investing in this space, you’ll likely be left behind by competitors who are.

Amii’s expertise - https://www.amii.ca/research/expertise/ 58 - CanadianSME - February 2022

Q7. How can businesses implement AI strategies and foster professional development, ensuring competitive advantages with loads of opportunities?

The first step is to realize that every organization can gain benefits from AI. There’s a misconception in the business community that you need sophisticated data collection capabilities and largescale analytics teams in order to gain value from AI. You may not need PhDlevel graduates to start working on growing your business in-house AI capabilities.

The business also needs to adjust its expectations around AI. Many companies try to identify ways AI can solve the biggest, most pressing issue they’re facing in their business – and it’s great to think about the transformational potential of the technology. It’s also a great way to stall your AI adoption efforts due to a lack of the desired outcome if you’re just starting out.

For businesses looking to get started on developing and implementing an AI strategy, there are organizations like Amii that offer support and guidance to businesses across the full spectrum of AI adoption. Whether you’re just starting to explore use cases in your business or you already have significant AI capabilities, there are myriad resources available to support your business on that journey.

Industry Solutions offered by Amii - https://www.amii.ca/industry-solutions/ Amii’s impact report - https://impact.amii.ca/

Young Entrepreneur Of The Year

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Ransomware:

securing your first & last lines of defence Ransomware is a rapidly growing threat for Canadian businesses, with a devastating impact.

It is insidious, quietly penetrating an

organization’s network to halt business-

critical operations or threaten to release sensitive information in exchange for

currency, causing downtime, reputational harm, and money.

Since the onset of the pandemic, when more

businesses moved to more vulnerable remote and hybrid models, the problem exploded: more than 235 ransomware attacks were reported in Canada in 2021.

Ransomware is rapidly becoming a question of when, not if, which is why a multi-layered approach with secure first and last lines of

defense will provide the strongest protection.

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The First Line of Defence – Preventing the Breach Security management for a hybrid workforce

requires rigorous end-to-end management and

monitoring from experienced IT professionals. Your

first line of defense is your endpoints – workers and their devices.

Small Business Remote device management, anti-malware

protection, and two-factor authentication are critical elements of a secure first line. However, from

and in the cloud, preventing it from moving deeper into your network.

phishing emails to unsecured Wi-Fi, there are myriad

When ransomware detects an attack, an

ransomware. This should be addressed with regular

can be triggered to shut down the

ways employees can unwittingly open the gates to cybersecurity awareness training and established security best practices.

alert is raised instantly and a response

endpoint under attack (Windows, Mac, and Linux), halting the spread instantly.

Managing the first line of defense for a hybrid

workforce is complex, putting great demand on the IT team which can lead to small cracks in the

defense. We recommend running an IT Health Check to ensure this doesn’t happen.

Ransomware is often highly sophisticated and very

sneaky – according to IBM, in 2020 it took companies an average of 228 days to detect a breach. Some strains of ransomware can even disable your

antivirus, compromising your first line of defence

Breathe Easy with Complete Ransomware Protection Your business’s defense strategy needs to include business continuity and disaster recovery with a “Last Line of Defence”

solution that enables automatic alerting, shutdown response, and quick recovery.

The Last Line of Defence – Stopping It in Its Tracks So, what happens if ransomware bypasses the

endpoint protections in your first line of defence?

Ransomware is designed to rapidly spread from

device to device, seeking out pathways to penetrate further into your central systems and take control of business-critical assets. Secure firewalls, data

encryption, and VPN authentication protocols should be put in place to deter further penetration. In the event a breach does happen, your business is

counting on immediate detection and response to mitigate further damage.

Ricoh’s Cyber Security Practice provides a

revolutionary “Last Line of Defence” to ransomware and our RansomCare, an automated solution that stops a ransomware outbreak in its tracks.

From a central server installation, RansomCare

detects ransomware attacks by looking into the

heuristics of the data files stored on your network 62 - CanadianSME - February 2022

Ricoh Canada’s IT Security Solutions keep your teams secure, connected, and productive so you’re ready to thrive – not just survive – in today’s marketplace.

Learn more about how we’re helping organizations protect their IT today, while planning for tomorrow.

ARE YOU A BOSS, OR A LEADER?

By Rick Moore CEPA, CEO at ActionCOACH Canada, Author

Fortunately, the person given this task was a

person rooted in a sense of morality and fair treatment. He had a clear understanding of leadership. He needed to show that he

cared, was fair, and that he was up to the task he had been given.

What did he do? What would you do?

This true story and the way in which it was handled is a great example of being a

leader versus merely being a boss. Here is what happened:

Leadership

The new manager starts Day 1 with a task given to him by the CEO. “I need you to fire the lowest 10 producers”

Making the task more difficult, he was actually

instructed to fire the 11th lowest thru to the 2nd

lowest. The lowest producer was not to be let go as he was the son of a friend of the CEO’s.

What a way to start a new job. How to do this and have any respect from the remaining staff was a huge challenge.

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He could have done as instructed, called in the 11th to 2nd lowest producers and told them to pack up their desks. That would

have left 10 people and their family's with the prospect of unemployment and hardship.

Bad feelings and damage to reputation in a case like this are commonplace. The

chances of wrongful dismissal suits were

also a concern. Could they claim they should not have been fired when a person far more

under-performing than them was allowed to remain? The fact the low producing persons father was a friend of the CEO was not a secret to the employees.

Small Business This is what the new manager did do. He realized that there

The remaining people, at the firm

circumstances of the person he was told to retain, however, he

him as a leader and someone they

was little he could do about the relationship and

did ask the CEO to use whatever influences he could to repair the performance of this individual. That done, he then got

busy. He called around to other firms in the industry, focusing on smaller firms and those that were new. He asked if they would be interested in filling some desks with some fine

people. He shared the production numbers and explained that

he now was managing, respected

could trust, and rely on, to do right by them. The manager and the

firm gained credibility and respect from the employees and the industry.

given some changes his firm was in the process of making, these individuals were no longer a good fit within the

compensation model being adopted. These newer and smaller operations were very interested. It was an excellent way for

them to bring in a new group of qualified salespeople. They were eager to take him up on this opportunity.

The result? He was able to call each of these people into his office, explain the situation and tell them that he had found each of them a place to move their practice. Their client

accounts would be readily transferable to the new firm and in

effect, they would move to a compensation structure that was

much higher than what they had currently. My recollection was

that 7 of the 10 people took him up on this proposal. Any sense of ill-feeling and potential for legal action was avoided.

Leadership at its finest is achieved with actions, not words. It only takes one person to act in this way for the rest of a company to want to do the same.

The list above makes some great observations on the differences.

HOW LOW-CODE APP DEVELOPMENT CAN HELP BUSINESSES

OVERCOME PERSONNEL AND REVENUE LIMITATIONS

By Chandrashekar LSP

Tackling digital transformation with a

Evangelist Zoho Canada

personnel and revenue deficit

The push for business digital transformation began

Before we dive into the solution to these

the pandemic and the numerous logistical and

that have contributed to this deficit.

years ago - and the need has been exacerbated by operational issues brought with it - but many are still trying to modernize their business operations with digital tools. There are many digital tools

available, but many of them do not meet the needs of specific industries or verticals and too few of

them allow for customization; leaving businesses to develop their own apps with their own resources.

A new study from Zoho, which surveyed 800+ IT and

shortcomings, we must first outline the issues

Most notably, businesses across the country in industries of all kinds have recently been experiencing a major labor shortage with recent research showing that 64% of

businesses have found their growth limited by limited staff, which is leaving many without

the personnel they need to develop needed apps.

business leaders from various industries and

When you combine this issue with the limited

enterprise app development is their main focus. But

to manage due to economic issues brought

regions, found that 53% of IT professionals said that at the same time, only 25% of the respondents

stated that their business was building more than 10 apps every month.

So what can be done to improve capacity?

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revenue streams many businesses are forced on by the pandemic, it has created a major deficit for businesses and their IT teams.

Small Business According to Zoho’s study, 65% of respondents say that the major IT challenge for their business is a

combination of communication gaps, lack of priority for departmental needs, and slow app development and process turnaround.

Shortcutting the deficit with low-code app development

As businesses look to overcome the labour shortage - and a potentially limited revenue stream as well and empower themselves to build the apps their

business needs to thrive in the new normal, there exists one area of app development that can

shortcut these issues: low-code/no-code (LCNC) app development platforms.

Because platforms like these - including Zoho’s own Zoho Creator platform - do not require the deep technical skills of traditional app development,

businesses do not necessarily need to dedicate their IT team to tasks that can now be done by other

members of your team; freeing up your IT pros to handle more demanding tasks.

Additionally, LCNC also dramatically shortens app development time, which is an IT challenge

according to Zoho’s study which showed that nearly

50% of respondents say that accelerated application development is the main benefit of low-code platforms.

Survey respondents also indicated an appreciation

for a lack of complexity within LCNC platforms, with

Finding the right LCNC platform

52% of all respondents expressing that the lowered

for you

most to them.

If your business is among those facing a

Because of these benefits and a range of others,

business as usual on limited budgets, and

complexity of a lowcode platform is what appeals

many IT experts expect LCNC app development

platforms to explode in popularity. Zoho’s research backs this expectation with approximately 60% of

respondents expecting their organizations to invest in lowcode technology in the near future.

66 - CanadianSME - February 2022

labour shortage or trying to conduct

you’re struggling to create needed apps, take a look at LCNC app development

platforms. The many benefits they can

bring to your organization maybe the right step towards modernizing your business.

BREAK FREE OF THE SWIRL IMPEDING YOUR COMPANY’S GROWTH New Book By Growth and Strategy Expert Richard S. Hawkes Provides Playbook For Transformative Organizational Change

Richard S. Hawkes Author of NAVIGATE THE SWIRL

Too many people live with a gnawing feeling that their

In Part One, Framing the Conversation,

should run more smoothly, more purposefully, and more

teams to address three critical

team and indeed, their organization as a whole, could and effectively…But they are unable to actualize it amidst the

daily swirl,” contends business and strategy expert Richard S. Hawkes, CEO of Growth River. In his new book, NAVIGATE THE SWIRL: 7 Crucial Conversations For Business

Transformation (Wiley, April 19, 2022), Hawkes shares what he has learned guiding hundreds of organizations, large and small, on their growth journeys, and lays out a

playbook for leading transformative change, applicable at any stage of a company’s development.

At the heart of the author’s approach is the underlying

concept that teams and organizations are not machines in which leaders can swap people like parts; they will resist.

Growth cannot be achieved by replacing dysfunctional parts. “People are anything but predictable, and a

mechanistic outlook on business gives rise to leadership

approaches that are limited at best,” Hawkes explains. He carries this concept through the three interconnected

sections of the book, which – taken together – provide both context and a hands-on leadership toolkit.

67 - CanadianSME - February 2022

the author introduces new ways for

domains that must ultimately align for people to fully embrace and sustain

change: leadership and culture, roles and capabilities, and strategies and

customer experience. Then in Part Two, The Evolution of the Enterprise, he introduces the four stages of

organizational growth he has identified as common across all companies and industries, illustrating how each stage – from Independent Contributors to Directive Leadership to Distributed

Leadership to Leaders Leading Leaders – represents a greater capacity to manage complexity, enact

transformation, and respond to

changing conditions with agility.

Finally, in Part Three, The Seven Crucial Conversations, Hawkes

lays out how organizations can successfully navigate from each stage to the next. This requires a series of ongoing, intentional conversations that have the power to align, reimagine, and

consciously upgrade the “social system” in which teams work.

Ultimately, the Seven Conversations are a template for creating

and sustaining High Performing Teams, which Hawkes describes

as the “secret agents” of transformation. The Conversations are:

Specifying Roles and Capabilities

Individuals and teams, alike, have roles to play in moving the

organization forward. Clarifying roles to ensure that everyone

knows who is accountable for what, and what perspectives they

Activating Purpose

represent, is critical. Questions in this conversation include: Does

Great teams are animated by purpose. This first conversation

every key capability and concern in

willing and able to activate a shared team purpose? How will

advocate? Are the roles and

the team?

tensions leveraged?

involves such critical questions as: Does this team have a leader

the team’s purview have an owner

decisions be made in this team? What is the shared purpose of

responsibilities clear? Are creative

Driving Focus

Whereas Activating Purpose is all about the structure, format,

and shared vision, Driving Focus is about getting clarity around priorities, visualizing the team’s work together, and energizing around the goals of the team. This conversation deals with

questions including: Are team members focused on a shared

transformational journey? Is the destination clear? Have gaps and primary constraints been identified?

Streamlining Interdependencies

Teams are not freestanding. They exist in the larger organizational

social system, and must optimize cross-functional business

processes and pay attention to how they interact with multiple functions, teams, and

Shifting Mindset

Teams must learn to embrace their diversity of perspectives and transform them into a tremendous asset. This means creating agreements to support one another, be accountable, and be

coachable. This conversation involves questions such as: Are team members able to bring their best efforts to the team’s success? Are they accountable and coachable, giving and

receiving feedback? Do they resolve conflicts directly at the source?

68 - CanadianSME - February 2022

sometimes even multiple

businesses. It’s crucial to answer such questions as: What other

teams do we need to align with?

Are the points of interdependence within and across teams explicit?

Are shared processes and

handoffs efficient? Do rewards,

and incentives support working as a team?

Small Business Aligning Strategies

Change initiatives often start with strategy, but Hawkes argues that prior to strategy, the issues dealt with in the first five conversations must be hammered out. It is then time to focus on questions such as: Is there a strategy and a strategic planning process in place?

What is the role of the team in this process? Is the path towards competitive advantage clear?

Implementing Initiatives

“You don’t always know what’s around the bend in the river until you get there,” writes Hawkes. Conversation Seven is about achieving

laser focus on the quality and impact of the team’s initiatives. Do team members plan and manage programs and projects

effectively? Can the team forecast demand and budget their projects? Are there sufficient dashboards for measuring and tracking performance?

“The Swirl is an absorbing state of organizational inertia. There is

always another problem to solve, pain point to acknowledge, issue to fix, turf battle to win, drama to ameliorate, or political challenge to overcome. And in the midst of it all, we lose track of the future,” asserts Hawkes. NAVIGATE THE SWIRL provides the tools leaders

need to break free of the Swirl – whether their organization is facing good news, like a new market opportunity, or bad news, like

increased competitive pressures – and lays out a roadmap for wielding influence in the complex, adaptive social systems of today’s organizations.

ABOUT THE AUTHOR

Richard S. Hawkes, author of NAVIGATE THE SWIRL, is the Founder of

Growth River, an international consultancy that guides leaders and teams to create higher performance in businesses and

organizations. Hawkes helps companies identify and resolve

constraints to success. Clients include Edward Jones, GENEWIZ,

Hitachi, Pfizer, Johnson & Johnson, and Mars. He sees purposedriven, customer-focused, team-based, multi-stakeholder

businesses as the best bet for solving the world’s biggest problems.

Hawkes received a B.A. in Computer Science and German Literature from Hamilton College and an M.B.A. in Marketing and

Organizational Development from the University of WisconsinMadison. For more information, visit: www.growthriver.com 69 - CanadianSME - February 2022

Excellence in Data Privacy & Security

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Ransomware:

A Big Threat for Small Businesses You log in to work one day and discover your

Once its target is reached, the cybercriminal

they’ve been taken, hostage. Cybercriminals have

The average ransom payment in 2021 was

business’s most critical files are inaccessible –

infiltrated your network, and if you don’t pay up,

they’ll either destroy the files or release them on the dark web.

Ransomware is a very real threat to Canadian

locks everything down and demands ransom. $200,000 CAD. However, when you consider

adding the cost of downtime and recovery on

top of this, it can end up costing businesses an average $2.3M CAD.

businesses. According to the Canadian Centre for Cyber Security, in the first six months of 2021, over 65 percent of Canadian victims were small and medium-sized organizations.

The Supply Chain: it’s not always about you Cybercriminals target small and mid-sized

businesses for two primary reasons: they tend to

How Ransomware Works

have weaker security, and they can provide

As a business manager, you’re likely already

Sophisticated ransomware operations will

familiar with the concept of ransomware and the

devastating impact it can have on organizations of any size.

access to more lucrative targets – their clients. sometimes attack companies’ supply chain

vendors, exploiting their access to the target company’s systems and information.

Typically picked up when someone clicks a

In July 2021, close to 1,500 companies worldwide

phishing email, ransomware will spread through a

remote management platform Kaseya;

malicious link or downloads an attachment in a

user’s device in a matter of seconds, making its way through the network to locate sensitive or business-critical information.

71 - CanadianSME - February 2022

were affected by a ransomware attack on

cybercriminals used Kaseya to get to several of

their MSP clients, paralyzing them and their own

customer base. Experts estimate more than 1,000 businesses were affected.

Small Business With the global rise of supply chain attacks, more companies

Ransomware is insidious, entering your

party vendors. If your organization’s cyber security isn’t up to

learning your systems, searching

are requiring comprehensive security audits of all their thirdtheir standards, you could lose out on business.

network stealthily and taking its time, through files, and even monitoring employee communications. Like a sophisticated bank heist,

cybercriminals take the time to gather

information to ensure a swift, effective

blow. In fact, a 2020 IBM study showed that the average time for an

organization to even detect a breach

is 207 days, and often not until it’s too

late and ransom has been demanded.

Stop Ransomware in its Tracks Ensure your organization is protected from ransomware and other cyber

threats with enterprise-level security

Take Ransomware Protection to the Next Level Since the onset of the pandemic, cyberattacks have

increased by 600%. Organizations with remote or hybrid workforces are at a higher risk of cyberattacks since IT

management becomes more complex when employees and devices are distributed for remote work.

Endpoint Protection Secure endpoint security is critical for preventing the initial breach, particularly with a remote or hybrid

workforce. Device security, best practice management, and employee training are all essential for protecting your front line. However, you can’t rely on endpoint security alone.

Detection and Containment If a worker’s device becomes compromised, your

organization requires immediate containment to mitigate further damage.

When a laptop or tablet is infected by ransomware, it

begins to rapidly encrypt files on the device, spreading to other devices on the network, seeking paths into your centralized systems and data.

that doesn’t break the budget.

Ricoh’s RansomCare is a cloud-based, scalable solution that detects

ransomware encryption and stops it in its tracks – even when the malware has bypassed all your endpoint

protection and other security tools.

Multi-alerting services ensure that

your IT team is immediately aware and equipped to respond. It is a vital element of your overall defense

strategy, providing critical security

defense for a small portion of your available security budget.

Evolve your security, reduce the risk of loss, and rest easy knowing that your organization and your clients are fully protected. Read our free eBook to learn more about

ransomware, containment, and isolation.

RETHINKING RECRUITMENT for small businesses during the labour shortage Dave Adams Vice President, Business Development, Medavie Blue Cross

Small businesses drive Canada’s economy and are at the very heart of our communities. In the face of

unprecedented adversity, they have shown incredible

resolve, made sacrifices, and have persevered through

lockdowns, only to now struggle through a worsening labor shortage. Employee recruitment is integral to the success

of any business and with fewer resources at their disposal, the labor shortage certainly looms larger for small businesses.

As economic activity continues to ramp up, small

businesses have an opportunity to recalibrate their

recruitment strategy and focus on how they can identify

and attract the right people. As employers, they can tap

into the talent pool of people who are ready and available to work, but perhaps are seeking a change. Today’s

workforce is shaped by employees who are looking for

greater flexibility and choice, better work-life balance, and

who want to work for a company with values that align with their own.

The growth of remote work is not slowing down anytime soon. Businesses are realizing this and tailoring job

positions to this new reality while offering competitive

wages and appealing incentives to attract new employees.

Whether it’s a work from anywhere or hybrid model, greater access to mental health resources, or increased paid sick leave, Canadian business owners must be proactive and adaptive with the types of benefits they offer.

Small Business It is important to understand what motivates

each person and how to best support the needs of Canada’s diverse workforce. From a total

rewards perspective, benefits that were once

thought of as nice-to-haves — optional benefits and personal wellness or health spending

accounts — are now becoming a standard part of a broader, more flexible approach to plan design.

At Medavie Blue Cross, as we adapt to the

evolving needs of employees, we have worked

with our clients and their advisors to modify plans to better align with the new realities caused by

the pandemic. Medavie is always looking at ways to reimagine benefit plans and offer solutions

that best reflect the current needs of Canada’s workforce. Benefits for Small Business offers a

cost-effective way for small business owners to protect the health and wellbeing of their

employees. The plan is designed to pool claims together, lowering the impact of high claims activity and containing costs over time.

As organizations transform and modernize, they should never lose sight of how they can

accommodate their employees and foster a

healthy working environment. Recruiting is largely based on culture fit, so this is especially

significant for small businesses where colleagues

Medavie recognizes and appreciates the role small businesses play in our economy. We

understand the challenges they are faced with every day and we know business owners and entrepreneurs are working longer and harder

than ever. They deserve to have the right team supporting them. We are here to provide them with options that are flexible and affordable while ensuring they meet the needs of their employees.

can feel like a family.

As a trusted health solutions partner, we want our team to feel valued and that we champion a healthy environment that allows everyone to have a voice and bring their true selves to work.

Fostering a culture that promotes openness, understanding and flexibility are key as we navigate this shifting workforce.

We are already seeing signs that small

businesses can and will bounce back. There is

no doubt in my mind they will once again be a beacon of productivity and prosperity for this country, leading us forward in our postpandemic recovery.

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EIGHT QUESTIONS BUSINESS OWNERS SHOULD ASK IN 2022 There’ve been lots of disruptions over the past two years. Workplace trends expert Rick Grimaldi says you should do a quick new year’s audit to see if your company is keeping up.

By Rick Grimaldi Workplace trends expert and the author of FLEX For business owners, the past couple of years have been

incredibly stressful and chaotic. If you’re like many, you’ve

been on autopilot and in survival mode. In fact, you’ve been

so busy trying to keep the doors open that you haven’t had a moment to pause and ask yourself, Does what we’re doing make sense for the way the marketplace is now?

76 - CanadianSME - February 2022

Workplace trends expert Rick Grimaldi has a suggestion: Before 2022 gets

any older, set aside some time to work on your business instead of in your business.

“There have been so many changes

since the pandemic started nearly two years ago,” says Grimaldi, the author of FLEX: A Leader’s Guide to Staying

Nimble and Mastering Transformative Change in the American Workplace

(Wiley, 2021, ISBN: 978-1-119-79510-0, $28.00). “Really, it’s a completely

different world right now. Now is a

good time to ask yourself what you might need to change based on evolving conditions.”

Small Business Here are just a few questions you might ask yourself:

Are we as flexible as we could be in how, when, and where people work?

Millennials and Gen Zers in particular value work/life

Does our workforce match our current business needs?

For example, do you need more service

integration. As much as possible, accommodate them. If it works for the position, allow fully remote, hybrid, and

flexible arrangements. In light of the Great Resignation,

it’s vital to give employees a work life that works for them.

staff to accommodate new customer

behaviours? Do you need to rethink their duties? We’ve all experienced service

snags at restaurants that are struggling to handle both dine-in and take-out

customers with too few employees (or

with a staff who are assigned the wrong tasks). Is something similar happening at your company?

Are we making employee well-being a priority?

Mental health issues can no longer be in the closet when so many have moved past stress and into trauma

territory. Psychological well-being impacts not just

engagement, but also productivity, performance, and

every aspect of culture. Keep an eye on this issue as you design benefits, career tracks, and work arrangements.

And destigmatize mental health issues. It has to be okay

Do we need new hiring practices given the diminished talent pool?

to ask for help.

? With the talent shortage at a 10-year high, it may be time to rethink how you recruit, how much you pay, what

incentives you offer, and so forth. It’s

challenging to find good people now,

but it can be done. You might need to think creatively, but you MUST ensure

you’re a more attractive employer than competitors.

Are we putting metrics ahead of engagement?

We’ve long known employee

engagement matters. Still, the unspoken “but” has always been that metrics

(especially performance and financial ones) matter more. Be sure you’re

putting engagement at the center of everything—which means doing

What are we doing to move past DEI and create REAL belonging?

employees feel cared about and

We know diversity, equity, and inclusion matter. But don’t

belonging, and that it’s safe to speak up

expert Tristan Higgins calls metaclusivity. Find ways to

everything possible to make sure listened to, that they feel a sense of when something is wrong.

77 - CanadianSME - February 2022

just use DEI as a buzzword. Instead, work toward what DEI cultivate a true sense of belonging.

Small Business Is it time to rethink our vendors and partners?

The past two years have forced companies to walk a tightrope between worker safety and

individual rights/preferences around returning

to the office, vaccine mandates, etc. Beyond the pandemic, there are legal issues to navigate

around gig workers and employment status, DEI and sexual harassment practices, and so forth.

How you handle these complex issues has a

huge impact on your culture. Don’t skimp in this area.

“The start of a new year is a good time to think about what you’re doing right, what you could do better, and what needs a total overhaul,”

says Grimaldi. “It’s easy to get so buried in the day-to-day grind that we overlook huge

problems. Getting intentional about auditing

yourself and setting aside a little time to flex as needed can change everything about your future.”

About Rick Grimaldi: Rick Grimaldi is a workplace trends expert and

Rick is an internationally recognized writer

Nimble and Mastering Transformative Change

selected through a peer-review process as

the author of FLEX: A Leader’s Guide to Staying in the American Workplace. Rick’s unique

perspective comes from his diverse career in high-ranking public service positions, as human resources and labor relations

professional for an international hi-tech

company, and presently in private practice as a partner with Fisher Phillips, LLP, one of

America’s preeminent management-side

labor and employment law firms. Day to day,

Rick works with companies to help them adapt to the ever-changing business environment, achieve their workplace goals, and become better employers.

78- CanadianSME - February 2022

and keynote speaker and has been

one of The Best Lawyers in America© in three of the last four years.

For more information, please visit www.rickgrimaldi.com.

About the Book: FLEX: A Leader’s Guide to Staying Nimble

and Mastering Transformative Change in

the American Workplace (Wiley, 2021, ISBN: 978-1-119-79510-0, $28.00) is available from major online booksellers.

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4 WAYS BUSINESS OWNERS UNKNOWINGLY DRAIN THEIR MONTHLY BUDGET Nathan Liao, Founder, CMA Exam Academy

As an entrepreneur, you likely have

a set monthly budget that consists

of all of the overhead costs needed to keep your enterprise running

smoothly. For example, your budget may include payroll for employees and freelancers, payments for

internet service and cloud-based

for office space, etc. It is paramount

Not Regularly Comparing the Budget to Actual Expenses and Revenue

budget in order to maximize your

Oftentimes, business owners don’t maintain a steadfast

spend way too much money in a

budget to actual overhead costs and revenue made each

project management software, rent that you stick to this monthly

business’s financial health — if you month, it can really hurt your company’s overall profits.

Have you lately been going over

your business’s monthly budget and

you’re not sure why? Do you want to prevent possible future financial

struggles? In my experience as the

discipline when it comes to comparing their company’s

month. Whether they’re scrambling to meet project deadlines or rushing to answer urgent emails from clients and

employees, their focus is always pulled in so many directions, causing this necessary accounting task to constantly be

pushed to the back burner. Don’t make this mistake! It is vital that you take the time to regularly compare your budget to your actual expenses and revenue.

CEO & founder of CMA Exam

Why is this? Well, it’s because it is easy to completely forget

Accountant exam review program,

you stopped using months ago), which will really eat away at

Academy, a Certified Management I’ve discovered a number of

common ways that business owners unknowingly drain their enterprises’ monthly budgets. Here are just a

few of these mistakes to prevent in order to optimize your company’s

financial standing and boost your overall business success.

80 - CanadianSME - February 2022

about recurring expenses (like subscriptions to the software

the budget. You may also be totally unaware that the monthly fees for internet, utilities, manufacturing and other

operational costs may have increased, which could hurt your bottom line. Therefore, stay disciplined by scheduling a day every month to review your financial statements. Then you can compare budget versus actual expenses, cut

unnecessary costs, and make operational changes to ensure you don’t overspend.

Small Business Not Pushing Big, Nonessential Expenditures to Later Months with New Budget Cycles This is a major mistake that so many business

owners commit. They will get excited to upgrade

their computer, spend thousands of dollars on a new software platform, pay a developer a ton of money to revamp their business website and make other large-but-nonessential expenditures right away.

Don’t also commit this big blunder — it would be in your business’s best interest to always check if a large expenditure is within the current month’s

budget, or if it should be pushed to a later month with a new budget cycle.

You can check with your accountant on this, or

simply do the aforementioned step and compare

your actual expenses to your budget to see if there

is enough budget to make the big expenditure during the current month. However, if the expense is

essential to keep your business running — for

example, if the equipment you use to manufacture

products stopped working and must be replaced —

then you can make the big purchase right away and adjust the next month’s budget to make up for overspending during the current month.

Pursuing New Projects That Weren’t Budgeted For How many times have you discovered exciting new

marketing strategies, expansion opportunities, sales tactics, and customer service initiatives that you immediately wanted to implement into your own

company? A lot of business owners will get amped

up about a new project and then make the mistake of pursuing it without considering how it affects

other elements of their monthly budget. Even though

the project wasn’t budgeted for, they will spend cash in capital expenditures to get it moving forward. This is not a smart move to make in your own enterprise.

81 - CanadianSME - February 2022

If you make the hasty decision to pursue the brand new project or capital expenditure, you will be taking cash away from other items in your budget that were already

accounted for. For example, the money you spend on a new customer service initiative can lower the amount of capital that you can put towards your monthly digital

marketing strategy or print advertising

campaign. This can then mean a possible drop in sales for that month. That said,

always think about how one purchase would affect another one in your budget.

Confusing Net Profit with Available Cash

To Wrap It All Up

As a certified management accountant, I’ve seen

In order to keep your business running

considering the profit in their Profit & Loss

monthly budget. Avoid unknowingly draining

many business owners make the mistake of

Statement as the basis for how much available “cash” they had in their bank. They would then

erroneously make major business decisions based on this figure alone. However, it is so important

that all business owners know that net profit does not equal the amount of cash in the bank that is available to spend.

Since cash is typically an organization’s most

critical and liquid resource, it has a tremendous effect on liquidity, financial flexibility, and operating capacity. FASB ASC Topic 230,

Statement of Cash Flows (formerly SFAS No. 95),

smoothly, it is crucial to set and abide by a

your monthly budget by comparing it to your actual expenses and revenue. Also, if the

current month’s budget doesn’t allow for it, push a big, nonessential expenditure to a

later month with a new budget cycle. You can also ensure you don’t unknowingly drain your

budget by researching how pursuing a brand

new project would affect other initiatives that were already budgeted for. Finally, put

together a thorough cash flow statement to always stay on top of how much cash is actually available to make purchases.

states that a statement of cash flows “must report

Nathan Liao is the founder of CMA Exam

net change in cash from its operating, financing,

Accountant exam review program. As a CMA

on a company’s cash inflows, cash outflows, and and investing activities during the accounting

period, in a manner that reconciles the beginning and ending cash balances.”

So readers of the cash flow statement can

ascertain if the company has generated enough cash (not just net income) to meet all of its

obligations. The Statement of Cash Flows (SCF) is the report that contains the inflows and outflows of cash during a specified period of time.

82 - CanadianSME - February 2022

Academy, a top Certified Management

and CMA coach, Nathan mentors accounting and finance professionals in over 80

countries to earn their CMA certification in as little as 8 months. The unique review

framework in CMA Exam Academy has proven to be the key to his students’ outstanding

success in attaining their dream of earning the Certified Management Accountant

certification. www.cmaexamacademy.com

Lawrence Krimker The Most Accomplished Business Leader in North America Lawrence Krimker has become one of North America’s most accomplished business leaders. As Chief Executive Officer of Simply Group, he has managed to revolutionize the residential and commercial energy sector, successfully disrupting and transforming an industry that had grown complacent. Through strategic acquisitions, innovative business tactics, and the creation of a specialty financing model that has made high-efficiency energy appliances more affordable for homeowners and businesses, Lawrence has amassed over $1.45 billion in assets for his companies and has helped hundreds of thousands of Canadians reduce their carbon footprint.

Simply Group provides innovative financing solutions for residential, commercial, and industrial projects throughout Canada. This interview features Lawrence Krimker, CEO, of Simply Group. Lawrence Krimker has become one of North America’s most accomplished business leaders. As he has managed to revolutionize the residential and commercial energy sector, successfully disrupting and transforming an industry that had grown

Homeowners are also expected to invest in more permanent home-office

solutions, “side-hustle” spaces and flex spaces, that can adapt to the family’s ever-changing work and learn from home needs. Minor improvement

projects are also expected to center

around technology and functionality, like adding or relocating new fast-charging

outlets and upgrading other smart home technologies.

complacent. Simply Group was born from Lawrence’s vision to change the way Canadians think about home comfort. In this exclusive Q/A Lawrences discusses what sets Simply Group apart from other companies in the same industry and shares the main aspects that have contributed to the company’s growing success. In this interview, he also describes his entrepreneurship journey and how innovation played a role in it.

What made you launch Simply Group? What was your motivation behind founding it?

When I launched Simply Group in 2013, the industry was stagnant. I wanted to

bring innovation and creative solutions to the way Canadians thought about home comfort, especially regarding

What are some of the top home improvement projects you predict for this year?

sustainability and efficiency. Our

services quickly expanded however, as

we recognized new gaps in the market, specifically surrounding financing.

The pandemic has been a long haul, and as Canadians

Despite the desire to invest in their

increasingly valuable. Sanctuary spaces like kitchens,

improvement were a hurdle, and

dominate the home improvement market this year.

the restrictions of our major banks. We

spend another winter indoors, privacy is becoming

homes, the price tags of home

bedrooms, and bathrooms are expected to continue to

Canadians were being underserved by

83 - CanadianSME - February 2022

are now proud to be Canada’s non-bank

Small Business consumer lender of choice, making improvements

urgency of investing in sustainability hit close

accessible and affordable for everyday Canadians.

architecture is expected to take off, create

like high-efficiency energy equipment more

The COVID-19 pandemic left no industry unscathed. How has the home-improvement industry responded to the pandemic and what other factors are driving change in the industry?

to home. This year, functional landscape flood and fire barriers, as well as restore proper drainage systems in urban environments.

The home-improvement industry has been quite

What are the major things that Simply Group exclusively focuses on when it comes to revolutionizing the home improvement financing industry?

approximately a 30 percent increase in home

We are making sustainable home

of 2021, compared to the first, indicating that

Many Canadians don’t have the disposable

renovation projects.

improvement products. We have innovative

As Canadians spent more time at home, they zeroed

flexibility to help Canadians upgrade to

became acutely aware of the areas that needed

cost-effective way. In fact, we were first to

like home offices, gyms, and improved air-filtration

solution that offers Canadians greater

and is expected to continue this year. In fact, one

is also at the heart of everything we do. We

percent reported that they already have or would

drive exceptional application approval rates

year.

reduce wait times.

resilient to the pandemic. In fact, we saw

renovation loan applications in the second quarter

modernization affordable and accessible.

Canadians are continuing to invest in home

income to invest in high-efficiency home financing solutions that offer repayment

in on what they really wanted out of their homes and

energy-efficient solutions in a responsible,

some TLC. The pandemic also created new needs,

market with a 240-month amortization

systems for safety. This has kept the industry busy

flexibility and affordability. Customer service

survey of Canadian homeowners found that 55

have developed a robust infrastructure to

like to do a home improvement project in the next

and streamline the application process to

This year, Canada’s highly competitive real estate market is expected to impact the industry as well.

Many Canadians find themselves priced out of

buying a new home, and investing in improving their current one, instead. In fact, 58 percent of surveyed Canadian homeowners reported renovating to

improve their quality of life, rather than for resale purposes. This includes outfitting homes with

accessibility and safety features like roll-in showers, grab bars, and non-slip flooring. This is largely

driven by the baby boomer generation and the

increasing popularity of multi-generational homes.

The Climate Crisis is also propelling the industry forward. After a series of natural disasters in

Western Canada this year, the importance and

84 - CanadianSME - February 2022

Small Business Could you please illustrate the term "sustainable systems and products”?

What, according to you, is "ecofriendly" home improvement?

Our “sustainable systems” are where our financing solutions and energy-efficient

products meet. We have created a system that enables Canadians to purchase

environmentally sustainable home comfort equipment and upgrades, while sustaining healthy finances, by providing flexible and affordable loans.

Eco-friendly home improvement is about maximizing energy efficiency by using the most up-to-date technology. This includes windows, doors, roofing, kitchens, HVAC, and more. Generally, these upgrades come with steeper price tags – and that’s where we come in. We offer greater affordability to Canadians through innovative payment options.

Addressing the climate crisis requires a collective effort, with contributions small and large in every home. For many people, the barrier to going

green is the sacrifices to routine or lifestyle that might come with it. Making your home more

energy-efficient allows homeowners to make an

impact without having to make many changes to their lives. We have over 500,000 customers across Canada who have adopted our

sustainable solutions, collectively reducing tens of millions of lbs. of Carbon Dioxide emissions per year. We are optimistic that this number will continue to grow each year.

Q7. Is the future ‘green’? What are your thoughts?

I strongly believe that the future is green. More

and more Canadians, many of them adolescents

and young adults, are lobbying for the long-term health of our air, water, and soil, and are keenly aware of the state of the earth, with greater

media coverage. In order to help save ourselves and our planet, we need to do our part by

changing the way we live our everyday lives.

Investing in green home systems that increase

Could you please share your views regarding the significance of highefficiency products in people’s homes and solutions to curb carbon footprint?

energy efficiency and reduce carbon footprints makes going green easier. At Simply Group, we

make sustainable home improvement affordable, so more Canadians can contribute to a greener planet.

IS YOUR SMALL BUSINESS LOOKING FOR A BIG TRANSFORMATION IN 2022?

It takes a village to transform your business.

5 steps to start your planning today!

As business owners or managers, continuous workflow

assessment and improving on your workplace solutions are important components of your planning.

The pandemic, along with its struggles, disruptions, and

accelerated forces, inspired what are now revolutionary changes for many businesses, while navigating through

many challenges. Thriving in the new normal, semi-forced digital alterations and the re-evolving economy required

By Ritu Kohli-Sethi Managing Partner @ GTEC

86 - CanadianSME - February 2022

businesses to reimagine their processes, operational costs, and internal workflow expectations while maintaining their customer relationships.

Small Business Making a shift in how we conduct our business is a huge undertaking not only financially but also

emotionally for everyone. The words ‘remote’ and

Step 1 – Segment your business into key areas

‘virtual’ sound ideal to saving costs but between

Get in front of a whiteboard or take pen to

solutions, and managing staff. Not only as a business

segment your business into buckets. This

deciding on the ideal workspace space, technology owner or manager, are you adapting to a new

environment, but also managing the emotions and dilemmas of your staff. It can become very overwhelming very quickly.

During the pandemic, our customers were patient with us and understood. As the months went by a new

paper and create some categories to help will help you identify and understand the gaps in each area. For example:

1. Workflow from sales to service 2. People vs. tasks vs. departments in your

normal set in. Online meetings and virtually

business

business.

3. Your current or future technology

environment again, as a business, will we pivot again?

4. Products or services that require

negotiating deals was accepted way of conducting But, as the world slowly resumes to an in-person

If we don’t continue to evaluate and respond to the

modifications vs new products or services.

changing business environment and the needs of our customers, we can get left behind.

So what do you do, when you know your business must undergo a transformation to survive? How do you

begin, gather information and figure out your starting point?

When you begin to fill in each bucket with what you do today and add in what you

need to start or modify, it will help you gain a perspective of what changes need to happen both strategically and with

operations. This will be different for each business but generically speaking, the

Here are 5 steps to help you identify and reestablish a plan for your long-term business goals.

You can bring in the right consultant or expertise to

help you at any time or work with one of your key staff members. You don’t have to do this alone.

above points are fairly typical to most businesses.

Step 2 – Flag the areas you feel need improvement or change.

The key here is to identify the bottlenecks that are hindering our growth. They can present themselves in the form of

technology, specific roles, misaligned

attitudes, inefficient tasks & processes, etc.

Write specific questions that you want

answers or insights into, such as what new

technology can make my day easier, which of my departments can go remote, what

products or services are key to my business.

87 - CanadianSME - February 2022

Small Business This is also the time to think more focused about your wishlist. This could be new staff, new

services, new technology or change in workflow.

This helps one to establish a direction.

Step 5 – Evaluate the information and feedback you have received

Can you identify the critical areas that need to address immediately? Are there any

Step 3 – Connect with your key staff, front line

This is an important step that involves input from others to ensure you are aligned with your team on the change in trajectory. Your core team can

immediately tell you what’s working vs what’s no

longer working. Engaging them from the onset of

commonalities, key trends, consistent answers?

Compare your feedback from your staff and vendor partners to the information you

collected about the current workflow. This will immediately help you determine whether you

are on point with your observations and aligned with your team.

this undertaking is vital to bringing about change.

A tip here is to start with a survey or small team meetings with your staff. Be clear on the

objective, stay focused in obtaining answers to

your questions, be a good listener and take lots of notes. Just make sure that any meetings don’t

lose focus and turn into a complaining session.

“If everyone is moving forward together, then success takes care of itself.”

- Henry Ford The above steps are a great way to revisit your strategy, bring about the right changes, and

most importantly plan financially for growing your business.

For many of the challenges, there is probably a business technology app that can make

workflows more manageable. Or perhaps, hiring people with new skill sets is the answer. Before undertaking any of these, ensure you have a

plan in place and whatever new additions you bring on, whether people, process, or

technology, do make sure it aligns with your

plan, can be incorporated within your process

within a set time frame, and most importantly,

train your staff to not only adapt to the change but adopt the change.

Step 4. Connect with your key vendor partners

My biggest recommendation here will be to not be afraid to bring in the right expertise –

Your vendor partners can give you great insights

whether new or from within the company who

industry. They more often than not, are observing

micro strategy to tackle the immediate needs

can even suggest the latest technology out there

consultants or staff members who are solely

casual lunch meeting can lead to great

business owners making the right shift at the

placing too much pressure on your business.

progressive organization also attracts great

into similar businesses or competitors in your

can offer a new perspective as well as the

many different trends in your specific niche and

of your organization. Investing in organizational

that might be better suited to your business. A

focused on your operations is instrumental to

suggestions on how you can change without

right time at their pace. Furthermore, a

86 - CanadianSME - February 2022

talent and hiring opportunities.

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RESOLUTIONS TO

ROCKET-FUEL SMALL BUSINESSES IN 2022

You may have missed many of the goals you have set for your business in 2021, a turbulent year, with many of the same

challenges as the year 2020. The ongoing pandemic has significantly upended the online business world and has gone

through several twists and turns to get through this unprecedented situation.

Your business probably started and

ended in one year with very different

Supercharge Your Small Business with These Resolutions in 2022 These solutions will help you think about how you can

renew your business functioning this year. Think carefully about what everyday common problems you would like

to solve and how you can develop better habits to make them a reality. Also, consider the large projects that will have the greatest impact on your business.

challenges, goals, and experiences. We know that this was a tough year

especially for small business owners.

Now, you're looking forward to the "new

normal," so please give yourself a pat on the back for coming this far. It wasn't ideal to do business during the

pandemic, but you made it through the

rest of the year. But now is the best time

to make the past a thing of the past (yes, let the past year be the distant past).

We are heading towards 2022 with

tremendous success, starting with a few smart business goals for your small

business. So what are you going to do in the new year? Don't know which resolution to put on the list?

90 - CanadianSME - February 2022

Fresh Market Research

The Post-Covid world is in stark contrast to the Pre-

Covid world. In this time of uncertainty, businesses must realize that what previously worked will not succeed in the present. Analyzing the market research trends for

2022 by the end of the year and adding them to the New Year's budget is an essential decision for businesses to follow.

Newmarket research is essential for organizations to

make data-driven decisions, giving you a clear view of

the landscape and informing you of the ever-changing behavior of your target market. The market is more customer-centric than ever. By preparing for new

market research, you can stay up to date on changing buying patterns and decisions, helping you familiarize yourself with their preferences and requirements, and ultimately save you a lot.

Small Business Bear-Hug the Hybrid Work Model

With the changes in the post-coronavirus era, businesses

Look for Automation Opportunities

will witness tremendous growth in hybrid operating models.

Technology is making our lives easier

combining the benefits of a physical environment with the

full potential for business? Find areas

companies have already implemented hybrid work models

automated. There is software that can

This working model celebrates the best of both worlds by

every day, but are we unlocking our

gift of a virtual world. In recent months, high-end

of your business that can be easily

to optimize employee productivity.

make processes like invoicing,

The hybrid operating model allows businesses to scale

service, accounting, sales, and more,

location. However, many companies still follow the outdated

no longer need to worry about. This

make this hybrid work model effective for employees will be

manual errors, but also frees up time

inventory management, customer

simultaneously to thousands of participants, regardless of

an automatic phenomenon that you

operating model. There is no doubt that exploring ways to

not only reduces the chance of

a great value proposition for small businesses in 2022.

on your and your staff’s schedule for

Stay Connected with Your Clients

other important tasks.

Build a Website

One of Rhonda's effective rules is "It's cheaper to retain an

If your business doesn't have a

Communicate directly with clients on a regular basis. While

developing it. A good business

existing customer instead of finding a new one."

spending a lot of time on social media is easy, it may not

be the best way to develop relationships. Send newsletters, write letters to key customers, make phone calls, and invite important clients to dinner.

website, it’s high time to invest in website can do wonders for audience growth sales, brand awareness and

customer service. Even if you don't sell products on an eCommerce website, a robust business website should at

least allow new customers to find you Embrace Web Conferencing

If there was one 'winner' of the pandemic, it was web

conferencing. Of course, this concept has been around for years, but only recently has most of us come to rely on it

through search engines, share your work stories, and provide contact

information to anyone you want to work with.

and deny the possibility of face-to-face meetings. Anyway,

this is where we will be in the future, and any science fiction writer will say that the plague has pushed us there faster.

Conclusion

Change is inevitable, and those who

Dealing with web conferencing was not easy. Some weird

can adapt, stay in the game for a long

cleaning the little space behind you, and making sure the

inevitable change. It’s constantly

of us, video conferencing using Zoom, Skype, or the

Learn how to adapt to a fast-

90s.

into your small business plans.

virtual meeting etiquette, technical issues, desperately

time. The business circle is full of

cat filter isn't on. But we survived and thrived, and for most

evolving and highly unpredictable.

platform of your choice is as natural as an email from the

changing world by infusing new ideas

For more such insights on small businesses in Canada, subscribe to our monthly CanadianSME Small Business Magazine.

Major Tech Trends That Will Reshape the Business World in 2022 As part of your business’ digital marketing strategy, you can no longer ignore these technology

trends. Not only do they attract thousands of digital leads and

increase revenue, but also they are measurable, giving you an amazing view into your

customer base. Let’s see what’s in store for us this year.

Personalization via Email Marketing Automation Another pandemic year has passed. We welcome another year of recovery and hope. 2021 saw many tech trends accelerating in

response to the world of “living with Covid”. If anything has been proven over the past two years, the world must quickly adapt to the new reality. In 2021, businesses emphasized operational dexterity more than ever before.

Many people and businesses have adjusted over the years, and those who have not been shaken by the challenges of the past year have become stronger mainly thanks to cutting-edge

technological innovations. The market disruption caused by

Covid and the widespread adoption of hybrid operating models has accelerated this process.

As employers, employees, and entrepreneurs switch to the

Internet, these changes have created unprecedented demand for rapidly changing technology solutions. With high stakes in 2021

and current technology trends, anyone interested in technology knows how quickly modern tools can become obsolete. So

naturally, staying up to date on last year's latest tech trends doesn't hurt. Unlike the 2021 trends, which focused solely on

addressing the epidemic, this time strategic and innovative developments stand out on the list of emerging technology trends. These technology solutions are geared towards

digitization, growth, and efficiency, redefining and reshaping the way we live, work, and interact.

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Every business owner or

marketer knows that email

marketing is an important part

of a digital marketing strategy.

What has changed is that personalization of email

marketing has become the key

to customer acquisition and/or ongoing shopping. Marketing

automation technology allows

you to email your customers a variety of emails they'll like,

based on past email openings, purchases, or clicks.

Studies found out that 90% of marketers see the future of email marketing as

personalized, and most

customers see branded email interactions as personalized.

Don't be afraid to have a private conversation with your customers.

Small Business Generative Artificial Intelligence

Cloud Native Platform The modern office enterprise is

Generative AI is one of the most powerful artificial intelligence

giving way to hybrid and remote organizations. As a result, data

infrastructure must adapt to the

technologies on the market. It

includes a set of machine learning techniques that learn about

content or objects from data and use that knowledge to create

geographically dispersed nature

account for nearly 10% of entire

data generated, up from less than 1% today. This disruptive

wide variety of activities such as accelerating drug development,

coding, and targeted marketing.

Nevertheless, industry analysts

have warned that it can also be used to scam, spread political

disinformation, and create fake personal data.

current mobile application

development trend as well.

The cloud-based platform can flexible and scalable IT services at a more affordable price. It is

predicted that 75% of distributed network companies will outpace

their competitors by 25% in 2023.

Meanwhile, forecasts suggest

that CNP will support 95% of all

advantage of cloud computing and its benefits, using cloud

Digital financial innovations like cryptocurrencies and central

bank-backed digital currencies (CBDCs) will improve cross-

border payments and increase

financial inclusion. Amid growing interest in online payment

purchasing decisions.

the Internet of Things as it about how consumers

engage in the purchasing process. It also includes

post-collection analysis of data from a psychological perspective such as Big Data, CDP or BI to the

Internet of Things and

various Internet sources.

Overall, this new technology aims to help businesses

improve user engagement

and customer experience in more meaningful ways.

digital initiatives by this year.

Organizations can take full

Digital Finance

preferences, and make

provides more information

provide organizations with

technology can be used for a

interactions, know customer

decentralized infrastructure and

This coordination requires

many digital work and the

It is stated that generated AI will

to enhance customer

In a sense, IoT is relevant to

cloud. So it is very useful for

products.

analysis and data collection

of current and future workplaces.

services and is best served in the

entirely new, more realistic

power of IoB through

platforms to get flexible and scalable IT services at lower prices.

Internet of Behaviors (IoB)

Wrapping Up Given the current pace of

innovation and change, it is just and necessary to keep up-to-date with the latest technological trends.

Businesses large and small must embrace these new changes in the global

channels and cryptocurrencies,

As the world's digitalization

technology landscape.

are increasingly evaluating the

depend more and more on

platforms and tools at your

their success. One important

innovate to overcome the

the number of countries

(Internet Behavior). This provides

facing consumers,

consumers switch to digital

behavior. To stay competitive

So, which of these robust IT

arise, businesses can harness the

the biggest impact in 2022?

central banks around the world

increases, businesses continue to

Then, with the right

potential of digital currencies.

information and data as keys to

disposal, you need to

During the coronavirus pandemic,

aspect of consumer data is IoB

ever-changing challenges

developing CBDCs has surged as

useful insight into consumer

industries, and businesses.

payments.

and overcome challenges that

trends do you think will have

For more such amazing content, do not forget to subscribe to our monthly CanadianSME Small Business Magazine.

10 SMALL BUSINESS IDEAS TO START THIS YEAR (2022) 2021 had a significant portion of problems, the

All these coaching and training-based business

Fortunately, this “new normal” world has made us

effectively.

COVID-19 pandemic, nationwide lockdown, etc.

believe that we can make huge profits with minimal resources. But, the New Year is finally here, and it's

the beginning of a new life and the perfect time to

models can be implemented at home, cost-

Web Designer

launch your small business.

Today, almost every company has a website.

As things go online and technology becomes more

a website for a product or service. As a result,

the point is, you can only be a successful

popular.

in advance. You may not yet know what your small

As an entrepreneur, you need computer and

working to make a profit and build your empire. So,

you don't require a big investment. Online web

popular, you have endless revenue opportunities. But entrepreneur by foreseeing the needs of the market

Because of this, every business strives to create web design is becoming more and more

business might look like, but someone else is already

web design training from a training institute, so

don't miss out.

designing training is also available. If you know how to build a website, you can contact a new

or existing business in your area to determine if

Small Business Ideas That You Should Be Aware of in 2022 Here are 10 of the top small business ideas penned for you to start in 2022.

Online Courses & Coaching Sharing your knowledge or experience has never

been easier via online course platforms. If you are passionate about something or a subject matter

expert, you can turn it into a sizable income. Small business owners can provide online coaching

classes to students and build a community to offer

assistance while building their own online coaching business. You can also create a Facebook page or

podcast to reach out to people searching for online coaching courses.

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they want to build a website or if their website needs modification.

Handicrafts If your business has the creativity to use this

platform, you can start producing handicrafts.

The handicraft business requires very little

capital. If you don't want to be involved in the manufacturing process, you can buy and sell when it's unavailable.

Used for home and office decoration, these handicrafts are sold at exorbitant prices in

lavish showrooms. These stores sell them at good prices because they are bought from

local producers. You can sell these directly to buyers at a more affordable price, ensuring customer retention and profits.

Small Business Mobile App Development We all know that the demand for mobile

phones is growing rapidly, just like mobile

applications. The app development industry has tremendous potential. You should have technical knowledge about all the tools

involved in the development, understand

subject, such as travel, you can share your

experiences and blog about it. After you publish your

blog, all that's left is a battle of likes and reposts. The more people read your blog, the more money you make.

3D Printing

your clients’ needs, and design their

3D printing has become so popular in recent times

developing, make sure it serves the purpose

you are thinking about digital printing and have

applications accordingly. Also, before of your potential users.

Network Marketing To establish yourself in network marketing

with a small investment, you need to build relationships with reputable brands that

that it has replaced prototype printing technology. If considerable knowledge in this field, 3D printing can benefit your career. Buying a 3D printing machine requires an investment, and choosing a small machine doesn't require a lot of investment.

Stock Market

offer high-quality products. If you want to

If you are good at speculation and economics, you

which products are in high demand on

this is different from other types of business as it

search for a brand, you can always see

can get your hands on the stock market. However,

Google.

comes with a lot of risks but can be a quick way to

Most people these days are very conscious

a good understanding of how the stock market works,

about their health, nutrition, cosmetics and

make money. If you are willing to take risks and have you can try your luck.

skin care products. You can step up your marketing game and reach out to

distributors who are already in the field.

Grow and expand your business by

promoting your products to family and friends and creating a website to do business online.

Fashion Designing

Courier Services If you want to start a small courier company, you

can contact other brands that are already acting as courier providers. In Canada, the need for courier

services has emerged with the launch of numerous online shopping apps every day. This is a low

investment business as long as you partner with other brands and keep your stake as a partner.

The fashion and apparel industry is an

uncomplicated industry where you can build

The Bottom Line

suburban city, this is an advantage because

There are numerous low-investment business

current trends. This way you can become a

huge investment in a small business may not be

investing too much money.

standards. After evaluating and analyzing these

your career. Also, if you live in an urban or you have the opportunity to catch on to

opportunities you can consider to start a business. A

trendsetter and run this industry without

enough if your strengths and skills don't match your

Blogger You can consider this career as it has ample opportunities in Canada for fashion

bloggers, travel bloggers, food bloggers,

travel bloggers, music bloggers, etc. If you have extensive knowledge of a specific

aspects, you should choose the business you want to run. It is recommended that you familiarize yourself

with all legal and licensing procedures before diving into the pool.

For more such information on small businesses in Canada, subscribe to our monthly CanadianSME Small Business Magazine.

HOTTEST MOBILE RETAIL TRENDS You Can’t Overlook in 2022 Today, users prefer to shop online than ever before.

According to Statista, eCommerce retail revenue in Canada has surged to over CAD 44 million dollars

this year, and this number is expected to grow over

the coming years. These high numbers say sales are growing, but it doesn't tell us what users are using when it comes to shopping online.

While shopping on desktops or laptops is a popular choice among users, mobile shopping continues to gain popularity. 56% of Canadians said they have

bought something over the web with a mobile device in the past one year. Canada currently has 33.7

Stores are individual showcases for businesses

over the previous year, helping us to better

customize the look of their store with images,

million mobile Internet users, a significant increase understand how the COVID-19 pandemic has made many people use mobile devices as a reliable and convenient way to shop.

Thus, mobile technology has drastically transformed the way we live today. Since smartphones are

on Facebook and Instagram. Merchants can

banners, buttons, and colors, as well as create a collection of featured products. The same-

store can be accessed on both Instagram and Facebook, so once set up, sellers can reach a broad global audience on both platforms.

always at hand and seem to direct our daily habits,

Facebook is serving more brands directly

the term ‘shopping’ pops up. Accordingly, the

of Facebook's commitment to creating a

it has become the most trusted partner whenever mCommerce trend is also evolving. Consumer

shopping behaviour has changed dramatically in

recent years and mCommerce will continue to grow in the future.

through its stores than ever before. This is part tailored shopping experience for users in the store section of the app and is expected to become more visible to users in the near future.

eCommerce store owners should be aware of the

Merging the social media reach with the

using Shopify or another online selling platform, you

commerce provides a natural way to explore

latest mobile commerce trends. Whether you're

can't ignore mobile users. This is what inspired us to pen this guide. We researched and analyzed the latest mobile retail trends in the eCommerce industry and narrowed it down for you.

Trend #1: Social Commerce Social media is constantly on the rise. Users strive to stay connected and informed every day, and for businesses exploring ways to engage their

customers, social media is making it easier than ever to reach consumers.

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advantages of online shopping, social

new products and brands and products by

using social media sites to promote, buy, and

sell products and through apps that customers already use.

Trend #2: Omnichannel Marketing Omnichannel marketing, which enables

multiple shopping methods, empowers brands by providing shoppers with a consistent

shopping experience across devices and channels.

Small Business As more people shop through social media, it's

With steady advances in technology, augmented

marketing activities their customers are already

consumers with a real mobile shopping experience

important for brands to concentrate on the investing their time on.

Omnichannel marketing allows advertisers to

join the gap between retail and online shopping, providing users more freedom. At the forefront of modern commerce, the prime aim of

omnichannel marketing is to provide users an

opportunity to meet their needs wherever they shop. From apps to direct purchases,

omnichannel marketing allows users to interact with brands their way, with one convenient approach.

To be successful in omnichannel marketing,

brands must reflect the message and branding

used across their marketing channels to ensure a consistent brand identity. When in-store

marketing is different from online awareness, it can be difficult for consumers to build trust in

your business. Being consistent across channels helps build brand loyalty, brand awareness, and monetize multiple streams.

reality is set to transform commerce by providing and empowering them to make confident

purchasing decisions. The Augmented Reality

industry is projected to reach $35 billion by 2025.

Trend #4: Mobile Chatbots Chatbots have been around for years. You have

probably communicated with chatbots for a lot of

reasons. In fact, some of you may already be using

chatbot technology on eCommerce websites. This is one of the best ways to serve customers and is

growing in popularity. Despite the fact that chatbots have become a part of life, they have not yet fully penetrated the world of mobile. Most applications

on the store today don't use chatbots, but that will grow in 2022.

Consider all the benefits of a chatbot. You are likely benefitting from them if you’re using bots on your

website. You can easily transfer all the advantages

of utilizing chatbots on the web to your application.

So it's only a matter of time before online retail

store owners start introducing chatbots to their

Trend #3: Augmented Reality Augmented reality has been a hot topic in the

tech industry for quite some time. The use cases for this disruptive technology are endless.

Mobile shopping apps are already starting to

use AR to enhance users’ shopping experience.

For example, a company that sells furniture

online uses augmented reality to show how a

product would look in a customer's home. This allows people to pick a colour and make sure

mobile apps.

54% of people say they will always choose chatbots over human agents if they can save time. It's not uncommon for shoppers to need help with their

online shopping. If you’ve got an eCommerce site, you already know. Resolving questions or issues

quickly can save a lot of money as well as enhance the customer experience. By 2022, mobile chatbots

will be used more than ever to simplify eCommerce.

Chatbots for eCommerce will continue to be popular in the future.

that the item actually fits in the right space.

AR for online shopping is much simpler than

alternatives. Without these mCommerce apps,

users will have to purchase with trial and error,

which is far from ideal. The last thing users want to do is buy a table or sofa online, and find that the sofa or table isn't suitable for their room or kitchen. You certainly don’t want that, right?

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Summing Up Moving forward, mCommerce will continue to play a significant role in retail and eCommerce, and every brand should plan accordingly. Keeping up to date

with the latest mCommerce strategies will help your business succeed in 2022 and beyond.

Top 10

Part-Time Business Ideas in 2022 If you are planning to start a business in 2022, it is

dedication and focus on fashion. You can use

COVID-19 pandemic has dramatically changed the

Poshmark to sell unwanted clothing and then

very important to consider the new standards. The

way people buy products and services. Opening up a retail business or restaurant may have been a good

idea in the past, but you may want to reconsider that thought until you know how next year will end.

e-commerce websites such as Mercari and go to your own resale site.

Online Teaching

Instead of a more traditional business, think of a

The need for online education has opened up

No matter what, you need to have a solid business

is an online venture, you can choose subjects

business that can support the way people live today. plan. However, as a solution to this, we’ve jotted this informative blog to let you know about the most

lucrative part-time business ideas that are going to boom in 2022. Get started!

Innovative Part-Time Business Ideas Consulting Consulting can be a lucrative option if you have

knowledge and passion for a specific subject (e.g. social media, business, leadership, marketing,

human resources, etc.). You can start a consulting

business on your own, then grow your business over time and hire other consultants.

Online Reselling People with a passion for clothing and/or selling

may consider beginning an online reseller business.

You can start as a side job and grow into a fullfledged resale business while it takes time and 98 - CanadianSME - February 2022

opportunities for entrepreneurs. Because this and teach courses that are familiar to you,

regardless of your location. If you do not have advanced knowledge on a particular subject, consider teaching English as a foreign

language to international students online.

Online Bookkeeping Just like education, today technology allows many accounting services to be performed over the web. If you're a bookkeeper or an accountant looking for the autonomy and

freedom to run your own business, harness

the power of modern technology to open your own online accounting or bookkeeping service.

Medical Courier Service If you have good time management skills

and a reliable vehicle, consider starting your own courier service, especially a medical courier service.

Small Business The driver will be responsible for transporting medical supplies such as laboratory

samples, equipment, and prescription drugs.

You can start your own courier business or hire another driver to work.

Virtual Assistant One of the most promising and successful part-time business ideas is to offer virtual

Owning a Food Truck

assistant services. From large corporations to

Now that indoor dining is limited in many places,

running their day-to-day business. You can

food trucks. Food vans come in all shapes and sizes

some weight off their shoulders. Of course,

favorite food style on the road and sell your favorite

into answering emails, making appointments,

a job, but you'll find yourself in a field you're

tasks.

meet people with similar interests.

individual businesses, everyone needs help

budding restaurants can achieve more success with

use your superior organizational skills to share

and offer a variety of snacks and meals. Take your

you get paid for the effort and time you invest

dishes right to hungry customers. Of course you'll get

and performing several other administrative

passionate about, and you'll have the opportunity to

Transcription Service If you can type quickly and have a good ear, transcription services will give you the flexibility to work from home. Medical

transcription services are in particular need due to the proliferation of dictation speech recognition technology in healthcare

providers. If you don't want to start all the

tasks at once, or if you have a daily routine that you want to keep, you can handle as

many transcription assignments as you want.

Freelance Content Writing If you are a natural word master with some marketing knowledge, you can easily

establish yourself as a freelance content

writer. Freelance content writing is a great

business because you can work as long as you have an internet connection. It's a

business you can do from the comfort of your home or, if you're traveling. You can even

Rideshare Driving If starting your own business sounds risky and

difficult, you can always use your car to be your

perfect travel companion. The responsibility and overhead of running the company rests on the

passenger sharing service, so you can work as long as you want. Ride-sharing apps like Uber make it

possible for people to start a low-cost side job that is more than willing to take people to their destination with some occasional friendly conversation on the way.

Wrapping Up No one knows everything. So, don't choose a part-

time job just because it seems the best fit for your chosen lifestyle. It should fit you like a suit. And no matter which part-time business you choose, all

businesses in Canada follow the same rules and

regulations, be it large or small, full-time or parttime. Just make sure you know the entire process before taking your next business opportunity.

work full-time as a freelancer if you build a

large enough network and get referrals from satisfied customers.

To know more about small businesses in Canada, do not forget to subscribe to our monthly CanadianSME Small Business magazine.

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