CanadianSME Small Business Magazine - February 2024 Edition

ISSUE NO. 63

FEBRUARY 2024

CANADIANSME Empowering Canadian Small & Medium Businesses

EXCLUSIVE

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Navigating the Digital Shift: A Conversation with

Kira Taylor On Empowering Canadian SMEs Online

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Thinking of Increasing Prices to Boost Your Business’ Bottom Line?

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From Family Recipe to Market Leader:

The LS Cream Revolution PAGE: 56 Email Partner

32

Forging Success in

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

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Dear Esteemed Readers, It is with great honor and a profound sense of responsibility that we present to you the February edition of CanadianSME Small Business Magazine, a special issue dedicated to celebrating Black History Month in Canada under the uplifting theme for 2024: "Black Excellence: A Heritage to Celebrate; a Future to Build." This edition arrives at a time when reflection, celebration, and aspiration converge, marking a moment to acknowledge and honor the remarkable contributions, achievements, and resilience of Black Canadians.

Black History Month serves as a poignant reminder of the indelible impact that Black leaders, thinkers, and innovators have had—and continue to have—on our nation’s fabric. Their stories of perseverance, creativity, and leadership not only shape our past and enrich our present but also ignite the path toward a more inclusive and equitable future.

In alignment with our commitment to small and medium enterprises across Canada, this edition especially focuses on the theme of "Small Business Leadership, Black History Month," offering a lens through which to explore the intersection of Black excellence and entrepreneurship. We delve into the narratives of perseverance, the celebration of cultural heritage, and the collective endeavour to forge a future where every entrepreneur, regardless of background, can thrive.

Within these pages, you will find a carefully curated selection of stories, insights, and expert perspectives. From the digital transformation of Canadian small businesses to how platforms like Shoplazza are levelling the playing field for SMEs, our articles are designed to resonate with and inspire our entrepreneurial readers.

Noteworthy interviews with figures like Kira Taylor, Chris Lynes, and Tiffany Callender, among others, offer unique viewpoints on leadership, innovation, and the importance of fostering diversity within the entrepreneurial ecosystem. Moreover, our exclusive feature on Larissa Crawford, our Business Woman of the Month, highlights her exceptional journey of inspiring change and driving inclusivity.

This edition also brings to light special messages from industry leaders and dignitaries, echoing the theme of Black History Month and underscoring the collective commitment to celebrating and building upon the achievements of the Black community. These tributes and stories not only honour the past but also inspire ongoing dialogue and action toward an inclusive future.

Looking ahead, we are thrilled to announce the fifth edition of the CanadianSME Small Business Show 2024, focusing on "Embracing Digital Transformation for Small Businesses." Scheduled for June 24, 2024, at the Metro Toronto Convention Centre, this event promises to be a pivotal moment for SMEs ready to embark on a digital transformation journey. Don't miss out on this chance to transform your business in the digital age. Secure your spot now at www.smeexpo.ca In closing, we extend our deepest gratitude to you, our readers, for your continued support and engagement. As we celebrate Black excellence this month, let us also renew our commitment to fostering an environment where diversity is not just recognized but cherished and where every contribution is valued.

We invite you to dive into this issue, engage with our content, and subscribe at www.canadiansme.ca for a continuous stream of enriching insights. Here's to a future brimming with innovation, resilience, and endless possibilities.

Warmest regards, SK

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

Editor & Publisher Shaik Khaleeluddin (SK) Creative Design Cmarketing Inc Client Manager Maheen Bari Social Media Cmarketing Inc Sales Kristina Konstenko Photography Deposit Photos, Cmarketing Inc. Web Cmarketing Inc

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IN THIS ISSUE CanadianSME Small Business Magazine

18 Navigating the Digital Shift: A Conversation with

Kira Taylor On Empowering Canadian SMEs Online Digital Marketing and Channel Specialist at CIRA

73

Shaping the Future of Startups and Venture Capital at DMZ

71

Challenges that SME Owners Face and How to Address Them with Numbers

59

Nkechi Nwafor-Robinson: A Trailblazer in Business Leadership and Woman Empowerment

52

Key Financial Metrics for Business Owners

61

Beyond Makeup: The Holistic Beauty Experience at Cassandra Campbell's Studio

64

Understanding the Quest for Leadership Excellence: The Extraordinary Trajectory of Alex Ihama

IN THIS ISSUE Canadiansme Small Business Magazine

45 How Shoplazza Helps SMEs Compete in Today's Market

14

Thinking of Increasing Prices to Boost Your Business’ Bottom Line? Ask Yourself 3 Questions

Celebrating Black Excellence

28

The Honourable

Rechie Valdez

Minister of Small Business

27

IN THIS ISSUE Canadiansme Small Business Magazine

21

50

Corporate Traveller's Leap into the Future with

Business Woman of the Month -

48

29

Canadians on TikTok:

Advancing Black Entrepreneurship:

Chris Lynes

The French-speaking Community

Larissa Crawford

RBC's Strategic Support for Inclusive Growth

56 From Family Recipe to Market Leader:

The LS Cream Revolution

66 With Canada’s aging population, the health of our economy hinges on recruiting a new generation into entrepreneurship

IN THIS ISSUE Canadiansme Small Business Magazine

42

77

Stacy’s Rise Project Impact:

Perspectives by Manjit Minhas

Blending Art and Compassion:

The Success Story of Ladies Love Units

24 39

Tiffany Callender's Blueprint for Black Economic Empowerment in Canada

36 The True Potential of Small Business Owners

Tackle the Challenges of Hybrid Cloud Security

February is a month of celebrations as it not only ushers in winter’s embrace but also serves as the canvas to paint the vibrant stories of resilience, transformation, and rich cultural heritage of our nation. Observed and jubilated annually in February, Black History Month commemorates the legacy of the black people and their communities in Canada.

Needless to say, the black community has not only built our national foundations of diversity and liberty but also made our nation proud with its positive and worthwhile contributions in every sector.

This is why, as a token of respect, the CanadianSME Business Magazine has decided to extend our gratitude and appreciation to the black business community in honour of their relentless efforts to make this country a stable and progressive economy. Reflecting the diverse array of Black experiences in Canada, the theme for 2024, "Black Excellence: A Heritage to Celebrate; a Future to Build," strikes a chord.

12 - CanadianSME - February 2024

Ancestral Diversity Reflecting Immigration Waves: Canada takes pride in its diverse Black population, which consists of 1.5 million individuals from a mosaic of over 300 different ethnic or cultural backgrounds. This community has a wealth of history deeply rooted in the country, with a significant 40.9% of its members considering Canada as their main country of birth. The

narrative, though, surpasses the constraints of time, as the Black population encompasses a rich tapestry of ancestral diversity. The community reflects the variegated waves of immigration that have shaped Canada, with members tracing their roots back decades or arriving as recent immigrants.

It is worth mentioning that a considerable portion of the Black population, specifically 32.6%, originates from Africa. Nigeria, Ethiopia, and the Democratic Republic of the Congo have made significant contributions to this population. Furthermore, a significant portion of individuals, approximately 21.0%, trace their roots back to the Caribbean and Bermuda, with notable contributions from countries such as Jamaica and Haiti.

So, immigration continues to play a vital role in driving this growth, as 23.7% of individuals have arrived between 2016 and 2021, showcasing a vibrant and everchanging community.

Black History Month

The Black Community's Rising Diversity: The complex web of Black Canadian identity is laid bare by the census, which highlights a broad spectrum of Black experiences. A complex combination of ethnic and cultural roots is shown by Black Canadians, who have played a key role in defining the nation's legacy. Among Black people, 25.6% identify as belonging

to more than one racial or cultural group; examples of such groups are "African (no further clarification)," "Jamaican," "Haitian," and even "Canadian."

The religious and linguistic variations within this group add another layer of complexity. The most common native languages were English

February is also a time to reflect on the struggles that Black Canadians have endured throughout our history, their contributions and what we can learn as a nation. Although the month represents tenacity, creativity, and resolve, it also calls for a resolve to eliminate economic inequality. Better data disaggregation in initiatives like the 2021 Census by Statistics Canada is a step in the right

(58.9%) and French (21.6%), out of more than 450 recorded. The Black Canadian population is religiously varied, with 25.9% identifying as Christians, 18.1% as Catholics, 11.9% as Muslims, 8.0% as Pentecostals,

direction toward a fuller understanding

and 18.0% as not religious. This diverse array of identities showcases a complex community and adds to Canada's rich cultural tapestry.

is the goal of joint endeavours with

of these events. A comprehensive story of Canada's many demographic groupings federal, provincial, and territorial counterparts.

Finally, Black History Month in Canada is more than just a time to reflect on

the past; it's a rallying cry for change.

It encourages Canadians to learn from their past, revel in the here and now, and work together to create a future

where diversity is valued and celebrated. In the spirit of "Black Excellence: A Heritage to Celebrate; a

Image courtesy - canva

Challenging Socioeconomic Disparities: As we mark Black History Month, Canada must acknowledge the complex socioeconomic situation that Black Canadians face. This can be easily done using census data as a prism to observe disparities according to generation, gender, and place of birth.

Statistics Canada's research highlights the significance of recognizing these differences, which allows for more educated discussions around inclusion and equal opportunity.

13 - CanadianSME - February 2024

Future to Build, " let February bring us all together in contemplation, learning, and togetherness so that we can contribute to building a Canada that values and celebrates its rich diversity.

Discover CanadianSME Business Magazine's essential insights for startups and established businesses. Subscribe today for important information. Follow @canadian_sme on X for updates. Join our active community of business enthusiasts as we strive for success!

Image courtesy - istockphoto

Thinking of Increasing Prices to Boost Your Business’ Bottom Line?

Ask Yourself 3 Questions

By Diane Amato According to the latest BOC Quarterly Outlook Survey, sales growth continues to be a challenge for businesses. “Roughly half of businesses said that their pricing practices are not yet back to normal,” the survey reads. “On balance, firms are still planning to make larger and more frequent price increases than they did before the COVID-19 pandemic. But they expect to raise their selling prices at a slower rate than in the past 12 months as the pace of increases in their input costs slows.”

So, is it time for you to revisit your pricing?

14 - CanadianSME - February 2024

Remember, the price you set for your products or services should be high enough for you to make a profit but realistic enough to encourage people to buy. It’s not as simple as adding a margin to your costs or charging what the competition charges. That may not be enough to cover your overhead. And, more and more often, reports of customers feeling “enough is enough” when it comes to price increases suggest a delicate tipping point is upon us.

This is why an important first step is to calculate a baseline pricing window and then determine what your next move might be.

Small Business Finance

How to calculate your baseline pricing To price your products and services accurately, there are a number of steps to take.

1. Come up with an overhead and profit amount First, work out the cost of your overhead. These are fixed costs you must pay out every month, regardless of your level of sales, such as your lease or mortgage payments, wages and salaries, power and other utilities, the salary you’re drawing from your business, and inventory (to name a few). Then, add what profit you’d like for the year to come up with overhead plus profit amount.

2. Choose a pricing option Three main pricing options can help you determine your baseline price:

Cost-plus-pricing: This is where you calculate all the costs involved in producing your product or service, add a margin and determine how much

Image courtesy - Deposit Photos

you can produce. Does this price cover overhead and profit?

Hourly rate: If your business is Retail margin: If you re-sell products as a retailer

service-based and you charge per

or wholesaler, add a margin to your inventory as a

hour, it’s much simpler, as you won’t

percentage of what you paid.

have physical costs of materials or inventory. If you charge $100 an

Markup: Markup is different than margin. Your

hour, then dividing this into

markup is where you might buy an item for $100

overhead gives you the number of

and re-sell it in your store for $150 for a markup of

hours you need to charge clients

50%. To calculate your margin, you divide the

each year. In this case, 2,000

markup profit of $50 by the sale price of $150. In

billable hours at $100/hour could

this case, your margin is 33% ($50 divided by

achieve $200,000 in income

$150). When you know your margin, you can use it

($200,000 divided by $100/hour).

to work out your sales target to cover overhead.

Remember, most professionals

Say your annual overhead is $200,000. Divide your

typically work more than the

33% margin into your $200,000 overhead, and

number of hours that can be billed

you’ll get a sales target of $606,000.

to a client (i.e., revenue), so set realistic forecasts by looking at your billing history.

15 - CanadianSME - February 2024

Small Business Finance 3. Compare your prices against the competition Deciding what you want to charge doesn’t always mean you can go ahead and set your price. Your industry likely has a current market price, and it may be difficult to justify charging twice as much (or half as much, for that matter) for a similar product or service as your competitors.

It’s important to research the current price structure of your industry and gain an understanding of which businesses are seen as offering the best value and what customers expect to pay – and then determine where you want to be positioned across the price range.

Here are some ideas: Abandon a one-price-fits-all approach. Consider surcharges and fees for rushed delivery or less-than-minimum order quantities Adjust your product design: Tweak materials, packages or

product features in response to elevated costs while maintaining the functionality and quality your customers expect If you haven’t launched an

online store, start selling your products/services digitally to

Three questions to ask yourself before raising your prices If you’re still considering revisiting your pricing strategy after taking these steps, ask yourself these three questions before changing any price tags.

1

Have you exhausted your options to increase sales at your current prices?

There are a number of ways to generate revenue — and chances are, they’re not all currently in play. Is there more you can do to boost revenue without boosting prices — and, in turn, generate more profit?

Image courtesy - Deposit Photos

16 - CanadianSME - February 2024

reach a larger audience If you are online, increase traffic via digital tools and advertising Consider franchising Think about charging customers a monthly fee to access your product or services online

FREE DOWNLOAD: Evaluating Your Options to Increase Sales (rbcroyalbank.com)

Small Business Finance

2

Can you differentiate your business beyond price?

Consumer studies repeatedly show how buyers will switch brands following bad customer service — and how stellar customer experience generates loyalty and fans.

Can your company lean into service to differentiate itself? You may be able to gain more customers — and earn more revenue — without increasing prices.

3

What is the opportunity cost of increasing prices versus keeping them level?

Raising prices across the board amid inflation may damage customer relationships. Understanding how your customers might react to a price increase is vital when considering one. For instance, are your customers particularly pricesensitive? Are they dealing with inflationary prices in other areas of their lives? Are they likely to buy elsewhere if you raise your prices?

Can you provide new services above and beyond what the competition offers or offer added value to elevate the overall customer experience?

Some ideas include: Personalize your marketing efforts and customer interactions to connect with customers emotionally

Make it easy to do business with you — establish a flexible return policy and fast delivery Provide expertise/thought leadership to your customers

Prioritize environmental and social responsibility. From charitable donations to sustainable packaging to community programs, make it known how you’re giving back

If you do increase your prices, consider the following tips: Communicate clearly to customers when new prices are in effect Give them plenty of notice before prices go up For loyal customers, consider quantity discounts

before increasing prices across the board Consider telling them why. If your materials have increased 20%, share that with customers so they understand where this move is coming from

Bottom line Tip: Revisit your business plan before you increase prices. Try the free RBC Business Plan Builder

Getting your pricing right is integral to the ongoing health and resilience of your business. But it is tricky — especially if your own costs are going up and your profits are taking a hit. Before increasing your prices, be sure you consider your other options as well as your customer impact so you can maintain both relationships and sales.

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

17 - CanadianSME - February 2024

Navigating the Digital Shift: A Conversation with

Kira Taylor On Empowering Canadian SMEs Online In our latest feature, we sat down with Kira Taylor of the Canadian Internet Registration Authority (CIRA) to discuss the digital frontier for Canadian SMEs. With a focus on the importance of a dedicated website over social media reliance, Kira offers actionable advice for businesses looking to solidify their online presence. Her insights into the .CA domain's role in enhancing credibility and visibility online are invaluable for entrepreneurs navigating the digital landscape.

Join us for a deep dive into making strategic domain choices and the impact of digital decisions on business success in Canada.

Image courtesy - canva

How has working at CIRA

Kira Taylor Digital Marketing and Channel Specialist at CIRA

Kira Taylor is the Digital Marketing and Channel Specialist at CIRA - The Canadian Internet Registration Authority. She oversees content, digital marketing and channel strategies to help Canadian business owners make the right domain choice for their business website so they can find success online.

18 - CanadianSME - February 2024

At CIRA, we are here to help

influenced your perspectives on Canada's digital landscape?

Canadian business owners make the right domain choice for their business website so

During my time at CIRA, I have witnessed tremendous growth in Canada’s domain industry. What started as a small country code top-level domain (ccTLD) operator, CIRA now has over 3.3 million .CA domains under management. I saw first-hand how many small businesses shifted online during the pandemic to reach their customers.

they can find success online.

And yet, a quarter of Canadian SME’s still don’t have a website today, according to research from the Strategic Counsel.

There is still a need to support small business owners who are navigating the process of launching their business and its online presence.

In your experience, why do many businesses initially focus on building social media profiles rather than developing their own website?

It’s easy to understand the appeal of social media for small businesses and entrepreneurs as its free and easy to use… and the allure of going viral is tempting for most. However, it’s important that social media isn’t your business’s only online presence. When establishing your business, a website is essential to your digital success and should be one of the first steps you take.

Exclusive Interview

Image courtesy - canva

Can you discuss why businesses should not rely exclusively on social media platforms for their online presence?

Here are just a few of the reasons why it’s not recommended for businesses to solely rely on social media.

You don’t control or own the platform: Not owning a platform means that you are at the whims of social media giants. If your only digital

presence is on social, it becomes difficult to pivot when things like new community rules pop up.

Having your website with a custom domain, like.CA, gives you the control and flexibility that you need to run your business, your way.

It's harder for customers to find your business: If your web presence is limited to social platforms, your business’s digital reach is restricted only to those who are on social media. It’s also harder for customers to find your business when searching on Google. Owning a website makes your business accessible to the entire world with no restrictions.

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It’s a single point of failure: If your social media platform experiences an outage, then your business will go offline

indefinitely. Additionally, only having your business on one type of platform puts it at certain security risks. Your account could get hacked and you

could get locked out. Having a website, alongside other platforms, means that even if your website is down, your business is never offline.

In your opinion, how crucial is it for small businesses or startups to establish a website from the outset?

Business owners should build a website for the credibility factor it signals to your customers.

According to CIRA’s recent Factbook survey, 60% of Canadian internet users agree that a website makes a business look more credible. Overall, a website is a great way to make a good first impression on your customers.

As well, having a website and the right top-level domain (TLD) will help your business be discoverable online. Search engines are where most of your customers are doing their research.

If one of your potential customers tries to look up your business or product online and you’re not there, they will find your competition. So, it is very important to go where your customers are.

Exclusive Interview With the substantial number of .CA domains under CIRA's management, what impact do you

What key advice would you offer to entrepreneurs who are considering launching a website for their

believe this has had on the digital landscape and economy in Canada?

business?

CIRA plays a crucial role in managing .CA as a key public resource, ensuring a secure, stable, and accessible digital presence nationwide. Over the years, .CA has also become well-known by Canadians as the online symbol for Canada.

Canadians know that when they see a .CA website, it is owned by a Canadian individual or business.

85% of Canadians prefer to be on a .CA domain rather than a .com when supporting local businesses, so the value of branding your website Canadian has never been higher.

A common misconception about launching a business is that you need a fancy website. My advice: a website doesn’t need to be fancy or expensive for it to serve your business. Sometimes having a simply designed website that features all the key information about your business, like a Contact Us page, is all you need. Sure, having an appealing website is great, but it’s useless if it doesn’t include the information your customers need.

Focus on the quality of the website content first and worry about the design later. Just ensure the content your customers need is easy to find and read on your website.

And remember, even if you are not ready to build a website, you should still register your domain name.

Think of it as protection for your brand, it prevents others and competitors from scooping up your name. .CA domains on average cost about $20 a year, so it’s a relatively small investment to make to protect your brand.

The growth of .CA has also had a massive impact on the digital landscape in Canada. .CA gives back more than $1 million every year through the Net Good by CIRA program to support Canada’s internet. This program funds projects, communities and policies that make the internet better for all Canadians.

Image courtesy - canva

To learn more about what you can do with a .CA domain and its benefits for your business website, check out CIRA’s helpful resources. Want to see if your domain name is available? Use our domain search tool today at choose.ca!

20 - CanadianSME - February 2024

Corporate Traveller's Leap into the Future with

President, Corporate Traveller In a compelling interview with CanadianSME Small Business Magazine, Chris Lynes, President of Corporate Traveller, delved into the evolving landscape of corporate travel. With over two decades of experience, Chris emphasized the importance of adapting to industry changes and enhancing customer experience.

He highlighted the innovative use of their digital platform, Melon, to personalize and streamline the travel booking process. Chris also addressed common travel booking errors and their financial implications, stressing the importance of flexibility and detailed planning. Looking forward, he predicted a focus on "bleisure" travel and wellness in corporate policies, and discussed Corporate Traveller's commitment to sustainable travel practices.

Additionally, Chris touched on the integration of AI in travel management, foreseeing a future where technology enhances the efficiency and enjoyment of corporate travel.

Chris Lynes, Managing Director of Flight Centre Travel Group Canada—one of the world’s largest travel companies, including its flagship business travel management division, Corporate Traveller—offers a rich background with over two decades of leadership in the travel sector and a record of fostering consistent annual growth surpassing 15 per cent.

Renowned for his innovative, strategic, and collaborative leadership style, Lynes has been pivotal to the successes of the group. With a deep commitment to diversity and customer-focused service, he promises to steer Corporate Traveller on a continued path of excellence. Attuned to the dynamic shifts within the industry, Lynes is poised to elevate the Canadian company to new heights.

With over 20 years of experience at Corporate Traveller, you've witnessed significant changes in the industry. How do you see the role of Corporate Traveller evolving to address the current challenges, such as the 'January Blues' and inefficiencies in travel bookings, to continue delivering amazing customer experiences?

With over two decades of experience in the industry, there have been many significant changes over the years, and Corporate Traveller has consistently had to learn how to adapt. Corporate Traveller continues to evolve our digital platforms with a primary focus on customer experience.

We recognize that personalization is key, whether our clients choose to leverage the expertise of our travel consultants or use our proprietary online booking tool, Melon. In the past, online booking tools have been extremely rigid and bland; however, Melon stands out. We have modernized the booking flow to engage travellers as they plan their trips, and our team ensures that the travel experience itself is just as straightforward as the booking process.

Image courtesy - Corporate Traveller

In the post-pandemic landscape, travel consultants have become more relevant than ever, especially among business travellers. A notable shift has occurred from 'Do-It-Yourself' in-house arrangements to relying on experts who not only

reclaim your time but also alleviate the stress associated with what can be a lengthy and challenging process.

A frequently overlooked detail with serious consequences is the misalignment of travel elements such as flights and hotels can leave travellers stranded or cause missed connections, leading to unexpected additional expenses and safety risks in new cities.

Considering that over 55% of businesses experience

These errors can severely strain a business's finances, especially when

financial losses from travel booking mistakes, could you share insights into the most typical errors made during this process? Additionally, how do these mistakes impact

and rising costs.

the overall financial health of companies, particularly under the strain of increased loan costs and economic uncertainties?

A common mistake we often see is travellers or companies opting for airfares that are more likely to incur higher fees or ones lacking flexibility for changes. Customers often share with me that they never expected a meeting to change or an event to be cancelled - but things happen. Travellers find themselves bound by non-refundable and non-changeable airfares, causing them to purchase new tickets without the benefit of advance purchase rates. These fares can be very expensive and will add up quickly, resulting in substantial financial losses for businesses. Corporate travel is changed approximately 35 percent of the time, and as such, understanding the different restrictions or inclusions are important factors in determining what fares to select.

Similarly, a significant 22% of companies overspend by booking too close to the travel date, missing out on better rates as costs invariably spike due to increased demand.

managing costs becomes more challenging due to economic uncertainty

You have a unique perspective on the trends shaping business travel. What are your key predictions for 2024, particularly in terms of global recruitment, commuting, the rise of bleisure travel, and the integration of wellness considerations in travel policies?

The return to travel in 2023 broke the norm. Prior to the pandemic, most business travel revolved around sales and professional services. In the postpandemic world, we saw a shift to internal business meetings, sales kickoffs, and meetings and events. However, in 2024, we are seeing a slowdown in events to start the year, coupled with a return to individual travel and outbound meetings.

Exclusive Interview The significance of remote work persists as companies refine their in-office versus remote policies. Notably, "bleisure" travel and personal wellness have emerged as integral components of business success. Many companies are increasingly recognizing the importance of incorporating travel perks into their corporate programs, not only as a means of retention but also to enhance the overall happiness and well-being of employees.

At Corporate Traveller, we offer our staff travel incentives and perks, such as our President's Club, which awards our top-performing employees with one-of-a-kind trips. For instance, this January, our President's Club enjoyed a trip to Reykjavik, Iceland.

Sustainability is becoming increasingly important in corporate travel. How is Corporate Traveller responding to this shift, and what strategies do you recommend businesses adopt to support sustainable travel practices effectively?

As sustainability becomes increasingly important, Corporate Traveller is actively responding to this shift with strategic measures to encourage and support responsible travel practices. Our online booking platform, Melon, uses a badging system that highlights and

prioritizes responsible travel options. This feature provides travellers with clear information upfront, empowering them to make informed decisions aligned with sustainable practices. Rather than solely focusing on offsetting travel impact after the fact, we believe in the

importance of informing travellers in advance so they can proactively choose eco-friendly options.

Additionally, we recommend businesses adopt consistent messaging that supports individual company policies, enabling organizations to effectively work towards and achieve their environmental goals.

Image courtesy - Corporate Traveller

Flight Centre’s new AI Center of Excellence marks a significant shift towards integrating AI in travel management. How do you envision this blend of technology and personal assistance enhancing the travel experience for corporate clients, especially in dealing with travel disruptions and enhancing customer service?

In business travel, I think we’ll see rapid enhancements in customer experience, in particular with predictive analytics for disruptions. Some airlines are

beginning to lead the charge with

AI and rebooking capabilities. For instance, the system can identify misconnections and automatically

suggest alternatives for the traveller to accept, even while they are still in transit on the originally booked itinerary.

AI will also allow for more personalization as it will become a virtual assistant that will help plan travel. By pulling previous booking behaviours and patterns, the AI

system analyzes and tailors options presented to the traveller, creating a more individualized and efficient booking experience. As more bookings are input into the AI-driven system, users will notice a refined selection, streamlining the process and making it a simple and enjoyable aspect of business travel.

Tackle the Challenges of

Hybrid Cloud Security Make your journey to the cloud safer and more secure Strong cybersecurity, privacy and trust practices are imperative to protecting your business and people from online threats and risks.

According to Cisco’s 2023 Global Networking Trends Report, 41% of

respondents said that securing user access to cloud-based applications is a top priority. This means most organizations will be tasked with managing and securing a hybrid cloud environment.

What is hybrid cloud security?

Before internet and cloud services came into being, cybersecurity involved

protecting on-premises systems and data centres.

Hybrid cloud security encompasses on-premises,

cloud services and everything in between.

The hybrid cloud lets you manage workloads between your premises and the public cloud. But it also brings

complex security issues.

Image courtesy - CDW

What is a hybrid cloud?

Many businesses are seeking the benefits of cloud services, including Infrastructure as a Service (IaaS) and Software as a Service (SaaS). Some of the most well-known public cloud services include Microsoft Azure, Google Cloud, and Amazon Web Services (AWS). Public cloud providers secure the infrastructure while customers must secure data and workloads themselves.

Private clouds are maintained on-premises, with the data available only to authorized users. You can rely on a technology partner to provide your private cloud or build and manage it with your own IT team and data centre.

Companies have been shifting workloads and apps from their data centres to multicloud environments. For various reasons — complexity, regulations, staffing issues — many are using the hybrid cloud. The Cisco report found 92% of IT leaders use more than one public cloud.

24 - CanadianSME - February 2024

Top security risks of hybrid cloud Traffic to the cloud, into the cloud, and across clouds must be secured and encrypted. When networking models differ across clouds it can be difficult to create secure connections.

When different cloud infrastructures are connected, real-time threat detection systems can sometimes produce false alarms.

Cloud Technology

In addition to network-related vulnerabilities, SaaS apps can create risk when users fall prey to phishing scams or experience frustration with authentication.

This can lead them to employ workarounds that make it harder to keep systems secure.

Image courtesy - CDW

Hybrid cloud security architecture elements

How Meraki can help secure your hybrid cloud

Many organizations look to a unified Secure Access Service Edge (SASE) solution to provide seamless IT management. Or

Meraki’s cloud platform is robust yet simple to use. It can scale to fit the

The essentials of hybrid cloud security architecture include

With Meraki, you can move at “the speed

solution must also be able to receive real-time proactive threat updates. This will help keep your network, data and users secure while freeing your IT team from tracking issues manually.

seamless and secure yet easy to deploy and manage.

they might choose cloud-managed access with enforcement via a virtual firewall appliance.

cloud-based security services such as a secure web gateway, cloud-delivered and virtual firewalls, DNS-layer security, traffic visibility and analytics, and data loss prevention. The security

Best practices for hybrid cloud security As you secure your hybrid cloud, choose a platform that can easily adapt to market changes. You may want to consider platform that allows a choice between on-premises and cloud security functions — whichever is right for your environment.

You’ll also want to streamline your environment. Look for solutions that allow you to manage everything through one dashboard rather than multiple interfaces. You’ll want to see the overall health of each network and solve issues before they become critical.

Consider the skills needed to implement, configure and manage the security solution. You’ll reduce costs and human error when you choose technology that’s easy to use and does not require specialized training.

25 - CanadianSME - February 2024

needs of businesses, supporting small businesses with even a handful of users.

of cloud,” automatically responding to new threats in minutes. You’ll be able to deliver exceptional experiences that are

Cisco security technologies are delivered and updated through the cloud automatically. As new updates become available, they deploy them to all customers, so you don’t have to think about upgrades or downtime.

Benefit from hybrid cloud security today No matter where you are in your cloud journey, the Meraki platform can manage and secure your network from campus or branch to data centre and multicloud.

Celebrating Black Excellence Black History Month offers us a unique opportunity to honor the excellence of Black leaders, thinkers, and innovators whose efforts and sacrifices have significantly contributed to the fabric of Canadian society.

In our February edition, we are privileged to present special messages from distinguished dignitaries in honor of Black History Month in Canada. This year's

theme, "Black Excellence: A Heritage to Celebrate; a Future to Build," encapsulates a call to action for all Canadians to recognize and celebrate the monumental contributions of Black leaders and communities

throughout our history. It is a time to reflect on the enduring legacy of Black Canadians, whose remarkable achievements have been instrumental in shaping the diverse, strong, and free society we cherish today.

Join us as we pay homage to the unparalleled contributions of the Black community to our national identity, which continue to inspire and drive change across Canada. Through these special messages from our dignitaries, let's recommit ourselves to the work of building a future that upholds the values of diversity, equity, and mutual respect. Celebrate with us, learn from our shared history, and take part in shaping a more inclusive future for all Canadians.

Image courtesy - canva

Moreover, this edition aims to do more than just commemorate past triumphs; it seeks to ignite a conversation about the future. We are reminded of the ongoing journey towards creating a more inclusive and equitable Canada, where the contributions of the Black community are recognized not just during Black History Month but integrated into the collective consciousness of our nation year-round.

During this Black History Month, and every month, I would like to take this opportunity to celebrate the contributions and achievements of Black entrepreneurs across Canada.

Beyond the incredible products and services you are offering as small business owners, you also build on the foundation of vibrant culture for each and every one of your communities.

The pandemic presented a lot of challenges for small businesses and highlighted and exacerbated the barriers that Black entrepreneurs face across the country. So in 2020, our government committed $265 million to create Canada’s first ever Black Entrepreneurship Program. This program is a partnership between our government, Black-led business organizations, and financial institutions to break down

centuries-old historical and systemic barriers that Black Canadians have faced and help thousands of Black-owned businesses and entrepreneurs get access to the support and The Honourable Rechie Valdez was elected as the Member of Parliament for Mississauga-Streetsville in 2021. She is a mother of two, wife, Canadian entrepreneur, television personality, and community advocate. She is the first Filipino-Canadian woman elected as a Member of Parliament and appointed to Cabinet.

Before politics, Minister Valdez owned and operated a small bakery business and was the host of a TV show that shares the stories of entrepreneurs, creators and artists. Prior to that, she worked in corporate banking for 15 years. Born and raised in Zambia, Minister Valdez immigrated to Canada with her family in 1989.

capital they need to thrive.

We know that when we build a more inclusive economy, we are building a stronger economy. Through the Black

Entrepreneurship Program, our government is proud to have supported more than 9,000 Black entrepreneurs, as well as over $45 million in loans to support Black-owned businesses start up and scale up. Ultimately, however, it’s Black business owners who deserve the real celebration. By continuing to share your lived experience and wisdom, you are laying the foundation for sustained economic growth of Black entrepreneurs across the country for years to come.

I look forward to meeting with more of you and learning your stories throughout this year, and I want to thank you for the work you are doing day in and day out.

The Honourable Rechie Valdez Minister of Small Business

Advancing Black Entrepreneurship: RBC's Strategic Support for Inclusive Growth Being a small business owner comes with its fair share of challenges, but for Black entrepreneurs, these challenges are often compounded due to the persisting systemic biases that limit their access to education, funding opportunities, mentors and professional networks. Recognizing these inequalities and addressing barriers that impede the success of Black-owned businesses, is an important step towards levelling the playing field and creating an ecosystem where all entrepreneurs can thrive.

Wayne Griffith

Vice President Business & Professional Services, Commercial Banking Group, Royal Bank of Canada

Wayne is an accomplished leader with over 20 years of experience in the financial services sector where he has held a number of senior management positions in Canada and the Caribbean.

In his capacity as Vice President Commercial Banking, he is responsible for the leadership and performance of a senior account management team in the business & professional services industry serving the greater Toronto region.

He served as RBC’s executive champion for the Black Cultural Markets from 2015-2020 including leadership of the Black History Month Student Essay Competition which provided over a hundred scholarships for students.

Originally from Montreal, Wayne’s career journey has included stops in Ottawa, the Cayman Islands and now Toronto. In his spare time he enjoys mentoring, community initiatives and playing tennis.

Today’s entrepreneurs need more than just capital and sound money management; they need holistic solutions that will help them overcome obstacles in their day-to-day and long-term scaling journey. While there’s no “one size fits all” solution - access to

education, mentorship and ongoing entrepreneurship resources are critical in building the foundations business owners need to strategically maximize their capital investments in the long run.

Given this, RBC’s Black Entrepreneur Program is focused on supporting entrepreneurs across every stage of their entrepreneurial journey with that holistic approach in mind. In addition to the

equitable and inclusive financing solutions offered through the Black Entrepreneur Startup Program in partnership with Futurpreneur and RBC’s Black Entrepreneur Business Loan, our advisors provide educational community workshops, business planning resources, peer networking and mentorship connections and advice to help clients strengthen their business foundations and manage their finances more prudently.

Since the inception of this program, we’re proud to have provided capital support to more than 400 Black entrepreneurs in Canada, and our network of dedicated RBC Champions has connected with thousands of Black entrepreneurs in communities across the country to support their business planning education and funding journey to set them up for success. But we know there’s more to do, and that is why we’re continuing to foster an inclusive entrepreneurial journey for Black business owners through advice events, sponsorships and community engagements.

The RBC Black Entrepreneur Program is one of the many meaningful steps we’ve taken to ensure Black entrepreneurs have access to the critical resources they need to achieve their full potential. In doing so, we stand to gain valuable insights, perspectives and market innovations that can help drive Canada’s economic prosperity, while creating more inclusive and vibrant communities where diverse businesses and entrepreneurs operate.

Building a Culture of Anti-Racism:

Together, Let's Empower Black Professionals As leaders within the business community, it’s our responsibility

to create inclusive environments where everyone can thrive. We must not only condemn acts of racism but also address the systemic barriers that contribute to inequality. This requires listening, accountability and most importantly action. We are all in an incredible position of power to implement change and policy within our organizations.

We are entrusted to ensure our companies succeed and providing more opportunities to qualified Black candidates not only helps individuals thrive but your business thrive as well.

Unique talent and diverse thinking enable a stronger culture leading to better performance.

At HP, the entire company is dedicated to fostering a culture that actively works against racism. We champion diversity and inclusion, both internally and externally.

We strive to challenge inequality on a global scale by fostering a diverse pipeline to recruit Black/African American professionals, aiming to double the number of Black/African American executives at HP by 2025, and partnering with diverse suppliers like RLA Engineering to enhance Black representation throughout our supply chain.

At HP Canada, we proudly collaborated with the Coalition of Innovation Leaders Against Racism (CILAR) to develop a talent

We also understand the importance of mentorship, especially for entrepreneurs

Professionals in their careers. We identified actionable measures that I encourage you to practice in your leadership roles.

conscious effort to cultivate a diverse network of mentees and contacts.

playbook that helps organizations of all sizes across all sectors advance equality in the workplace and help advance Black

and business owners facing structural barriers. As allies, let us make a

Begin by assessing your inclusive talent acquisition and talent development processes to ensure the talent pipeline is diverse

Conversations, empathy, kindness and accountability are crucial in this journey.

career journey. Leaders should check their unconscious bias and hold themselves accountable.

thrives. Together, we can make a difference.

when recruiting or promoting for a role. Provide anti-racism and anti-oppression performance management and succession planning to ensure employees feel supported throughout their

Let us reaffirm our commitment to eradicating racism and creating a workplace where Black empowerment

Mary Ann Yule

President and CEO, HP Canada Mary Ann Yule is the President and CEO of HP Canada. With more than 20 years of experience, she is a trailblazer in innovative personal systems and printing technologies, including 3D printing, digital manufacturing, and related services and solutions. Since joining HP Canada in 2016, her proven track record of driving results continues to deliver breakthrough market outcomes across HP’s portfolio and credited with establishing HP as the most sustainable technology company in Canada1 as well as one of Canada’s Best Diversity Employers.

Mary Ann holds a Kellogg-Schulich Executive MBA from the Schulich School of Business in Toronto, attended Ryerson University, and holds numerous professional accreditations, including Six Sigma Executive Champion. She is a highly sought-after speaker on positive disruption driven by technology megatrends like 3D printing, sustainable impact, diversity, and inclusion.

Andria Barrett

Founder of The Diversity Agency Speaker, Facilitator & Consultant,

The Diversity Agency

One of my favourite quotes is “Don't sit down and wait for the opportunities to come. Get up and make them.” by Madam C.J. Walker. She was the first female self-made millionaire in North America and dominated in the hair care industry. Not only was she very successful, but she also used her position and wealth to advocate for her community.

Don’t wait for the opportunities to come to you.

There’s no playbook, handbook or step-by-step guide to

Andria Barrett is the Founder of The Diversity Agency and is an awardwinning Entrepreneur. The Diversity Agency provides speaking, training and consulting services to business owners & non-profit organizations. Andria is also a Co-Founder of The Banker Ladies Council where her focus is on helping womenled entrepreneurs through mutual aid.

doing what we do. Every day is different & can be unpredictable. One day you’re second-guessing yourself and the next you’re making record sales. You started a business for a reason, but don’t wait for the opportunities to come to you.

February is one of my favourite months because there’s a

spotlight on the phenomenal contributions made by Black Canadians. Although our stories & triumphs should be recognized year-round, this is when all Canadians take a moment to reflect and educate themselves on the

She serves as a board member of the Culinary Tourism Alliance, Help A Girl Out (HAGO) and has been appointed as a

contributions Black people have made in our country.

member of Humber College’s Program Advisory Committee (PAC). She is also an Activator with SheEO/Coralus.

Black entrepreneurs and in particular, Black Women Entrepreneurs are on the rise and making waves in a myriad of industries right across the country. As we continue to break down barriers and innovate, I’m encouraged by the incredible business stories and the impact that Black women and their businesses are having on their families, communities, economy and our country.

Andria is a member of the Anti-Racism Advisory Committee with the Peel Regional Police & and a popular Judge for awards including the Canadian SME Awards & Canadian Mortgage Awards.

She also leads the SheaMoisture DreamFund Grant program awarding $50,000 to Black female entrepreneurs in Canada yearly.

Black Women Entrepreneurs - Follow your instincts, aim high, dream big, believe in yourself and connect with other entrepreneurs to network and to lean on.

Forging Success in

I genuinely respect anyone who transforms a dream into a tangible business. Entrepreneurship is not for the faint of heart, especially for Black small business owners as we typically have to navigate more obstacles than our counterparts.

In retrospect, I’ve realized that the journey is just as important as the final destination, and we shouldn’t be afraid to celebrate our wins and relish the memories we make during the process.

Kensington Grey was established in 2019, before the pandemic, but our company exponentially grew in the height of COVID-19 and the Black Lives Matter movement. Those experiences taught me it’s important to find support within the Black community and allies to gain knowledge that propelled our business forward. I was grateful for how Kensington Grey’s network galvanized and changed the trajectory of our generation’s contributions to the civil rights movement.

I’d also recommend other small business owners take a moment to stop and dwell on their journey beyond dreaming about that big exit. While the process is challenging, I often think of words from Ari Emanuel, an Endeavor Talent Agency founding member, WME

Shannae Ingleton Smith President and CEO, Kensington Grey Kensington Grey President, CEO and Co-Founder, Shannae Ingleton Smith, is a creator, strategist, and multihyphenate entrepreneur conquering the media space. With a background in sales managing a multimilliondollar portfolio for Rogers Communications, one of Canada’s largest media conglomerates, she eventually set her sights on social media. Ingleton Smith has built an agency that represents 90+ creators in the beauty, fashion, and lifestyle spaces and has expanded the agency’s global footprint across Canada and the United States.

CEO and entrepreneur I admire, “Know when you’re on the field.

And know when you’re not.” Business owners should learn when to focus on the business and when to check in on their family, spouse, children, and even themselves. We have to remember to enjoy life with people who matter the most to us along the way to building successful businesses.

Also, you must constantly innovate and take risks if you want to stay ahead of the curve. That means hiring people who are smarter than you— investing in new technologies and starting strategic partnerships. In hindsight, I’ve realized that our openness to innovation and change has often saved our business from heading down the wrong path.

Lastly, as a small business owner, you can be nimble, this is a strength and trusts your intuition to lead you where you need to be, even if it scares you. Frankly, if your dreams don’t scare you, they aren’t big enough. I believe in you!

Daring to Dream: Scaling Black Entrepreneurship in Canada Last year, in this same column, my message to Black entrepreneurs was to DARE: DARE to ask questions and ask for help; DARE to apply for loans, grants and to dive into your numbers to come up with a clear coherent ask; DARE to dream about “impossible” goals for your business.

Mona-Lisa Prosper

This year, I want us to keep that same daring energy going, with

Director, Black Entrepreneurs, Futurpreneur

a focus on that last point; dreaming about “impossible” goals for your business and aiming for growth!

Mona-Lisa is the Director of

Black businesses currently make up about 2.1% of Canadian businesses and even if I trust that that percentage will steadily increase in the coming years, I am afraid micro-entrepreneurship

Futurpreneur’s Black Entrepreneur Startup Program. A lawyer by trade, she also holds an MBA degree and has gained experience in entrepreneurship, human resources as well as economic development.

Very involved in her community, she sits on the investment committee of Boann Social Impact, was the president of the Jeune Chambre de Commerce des Femmes du Québec from 2020 to 2022 and continues to sit on multiple other boards. A proud ambassador of the importance of inclusive governance, she is also involved with different organizations promoting DE&I. With a strong penchant for media and communications, she is a collaborator on the show “Zone Économie” on RDI, hosted Futurpreneur’s very first podcast, Startup + Prosper, and was a guest blogger for the Journal Les Affaires where she highlighted BIPOC entrepreneurs in her French blog called “Diversité Prospère”.

will continue to be prevalent. There’s nothing wrong with owning and operating a small business, don’t get me wrong, but there needs to be a certain level of scalability.

Is your great idea still answering the need you initially identified?

How can you get to that next level? In what horizon of time do you see yourself being able to generate enough to pay yourself properly and eventually hire? It might not be sustainable to operate solo in the long term! You have to be willing to face the facts, make the proper adjustments and keep going! That is how you achieve continued success.

Three years ago, clear data was compiled highlighting the barriers faced by Black entrepreneurs in Canada. In response to that, many organizations made it their mission to tackle these issues and change the Canadian entrepreneurial landscape.

While nothing is perfect, we are in a much better place today, with different sources of financing targeted specifically to Black entrepreneurs, mentorship programs, networking events etc. It’s time for us to build strong businesses that will last!

Dream big, take the proper steps, use the resources and make it happen!!

We’ve come a long way already. Let’s continue to change the narrative around entrepreneurship in our communities so that future generations can thrive!

Realm:

An Entrepreneurial Journey

When I embarked on content creation for realm, my goal

was to produce videos that were authentic and aligned with content I enjoyed consuming. Through experimentation with various video styles, I found my niche.

The journey truly took flight when my first ASMR video went viral. Leveraging other TikTok features, I engaged with my audience through LIVE sessions—packing orders, making

Danielle Johnson Founder of realm & 2024 #BlackTikTok Visionary Voice

Realm was born out of a quarantine passion project & outlet to release stress and discover my creativity. Candles have always been a key part of my self-care routine, but I discovered that a lot of the candles were mixed with harmful chemicals and weren’t made with sustainable resources, so I decided to create a line of candles that are 100% vegan, eco-friendly and most importantly, aesthetically pleasing. From the jars to the packaging, all of the materials used are sustainable, renewable and/or recyclable.

candles, and building a global community. This community has been instrumental in expanding my business beyond my wildest expectations thanks to their ongoing support.

Navigating entrepreneurship as a Black woman brought its share of challenges, yet, the countless positive comments, especially from other Black women inspired by my journey, overshadow these instances. The honor of being recognized on the 2024 #BlackTikTok Visionary Voices list is incredibly uplifting and demonstrates TikTok's dedication to celebrating diversity and amplifying the voices of marginalized groups The acknowledgment is not just personal triumph but a symbol of a broader shift, with more Black individuals venturing into entrepreneurship, promising a bright future.

For those contemplating their entrepreneurial journey, my advice is simple: Just start! There's never a perfect moment, and mistakes are inevitable—I've certainly made my fair share. Each mistake presents an opportunity to learn and grow. The more you learn, the more you flourish, and the sooner you'll thrive.

Dear esteemed entrepreneurs and visionaries, As we embrace Black History Month, a time to celebrate resilience, triumphs, and contributions, I'm compelled to share a message of empowerment that transcends boundaries and ignites the spirit of every entrepreneur and visionary.

Esther Youte is a force to be reckoned with in the business world, the living, breathing definition of expertise in management and human resources. As CEO and co-founder of 0rijin Village, she's a fierce advocate for Black entrepreneurs in Canada, sparking change through the UniteProsper platform, services, and events A Passionate Advocate for Empowering Underserved Communities Esther's commitment to empowering underserved communities is evident in her work. She launched the Entrepreneurship Center in 2006, which has helped over 100 female entrepreneurs achieve their goals annually. Esther's dedication to diversity and exceptional success stories is a true reflection of her unwavering passion.

A Trailblazer in Advocacy and Leadership Her accomplishments speak for themselves, but her path to success is paved with even more milestones. From serving on the Steering Committee for the Quebec Black Entrepreneurship Hub (QBEKH) to becoming a member of the Comité consultatif régional des fournisseurs du Bureau des petites et moyennes entreprises du Canada, she's a true advocate for change.

Charting New Paths and Inspiring Change In her pursuit of excellence, Esther Youte not only breaks through corporate ceilings but also creates paths for others to follow.

She embodies the spirit of innovation, the essence of community, and the unwavering belief that success knows no boundaries.

In a world propelled by purpose and results, the journey to success demands more than just dreams; it requires unwavering

dedication, hard work, and a passion that refuses to be confined.

As multi-passionate individuals, we often find ourselves navigating a landscape that expects us to fit into predefined boxes, stifling our dreams and aspirations. But what if I told you that within the chaos lies an opportunity to break free and transform your dreams into a reality?

I've walked the path you tread—frustrated, and searching for clarity. This journey led me to a profound realization: success is not a solitary pursuit; it's a collaborative effort. Black History

Month is not just a celebration of the past, but a reminder that we are architects of the future.

Let this be a call to action, a rallying cry to empower our

communities economically and socially. As entrepreneurs and small business owners, we possess the power to address chronic economic disparities through innovation and collaboration. Let's

unite, thrive, and build sustainable models of prosperity that cater to the specific issues affecting our socio-economic landscape.

Your passions and dreams transcend societal expectations; embrace your uniqueness, for within it lies the key to success. As we commemorate Black History Month, let's inspire each other to defy expectations, break through barriers, and create destinies that redefine success on our terms.

In this spirit, I introduce you to 0rijin Village—a movement dedicated to the economic development of Afro-descendant communities. As we celebrate Black History Month, let us unite, thrive, and build sustainable models of prosperity. 0rijin Village stands as a testament to the power of innovation and collaboration, addressing economic inequalities with new technologies and initiatives.

With passion and purpose,

Esther Youte

Co-Founder & CEO - 0rijin Village

There's incredible power and potential within each small business owner. Your dedication, hard work, and entrepreneurial spirit make a difference in our communities and economy.

You hold a unique vision that sets you apart.

Your business is a reflection of your dreams and aspirations. Embrace that vision and let it guide you through the ups and downs of entrepreneurship. Remember, you can shape your destiny and create something truly remarkable.

However, always remember that business thrives in collaboration. Surround yourself with a supportive

network of fellow small business owners, mentors, and professionals who can offer guidance and advice.

Collaboration is vital to success in today's competitive landscape. Reach out to others in your industry, attend networking events, and explore partnerships to help you expand your reach and achieve your goals. Obsidi.com, North America's largest job board and networking platform for Black professionals and allies, is an excellent way to unlock some of those opportunities.

Now, whichever way you choose to secure those community support systems is up to you. But in a rapidly changing world, staying ahead of the curve is crucial. Embrace innovation and be willing to adapt to new technologies and trends. Keep an eye on the market and be open to new ideas and strategies. The ability to evolve and embrace will set any successful small business apart.

Lekan Olawoye,

Founder & CEO, Black Professionals in Tech Network Inc. Lekan Olawoye is the founder and CEO of Black Professionals in Tech Network (BPTN), North America. largest Black tech and business community. Lekan was named one of Canada. Top 40 Under 40 in 2021 for his indelible mark as a global Black tech ecosystem thought leader. With a mandate to disrupt the network gap facing Black professionals, Lekan created the BFUTR Global Tech Summit, North America. largest Black professional summit. In February 2022, Lekan and his team also launched Obsidi ®, an all-in-one networking platform for Black professionals to access more opportunities and level up their careers. As an experienced executive in the private, public, and non-profit spaces, Lekan’s thought leadership and work are focused on critical business guidance and fostering meaningful diversity, changing the future of work for Black tech professionals across the globe.

Empowering Progress:

BBPA's Vision for Black Excellence and Entrepreneurial Growth Happy Black History Month! At the BBPA we remain optimistic and are thrilled with the promise and potential of our community, even amidst the lingering uncertainty being experienced by our businesses.

We are steadfast in our commitment to bridging economic gaps, providing access to capital, and fostering networks. That’s why our programs have proven extremely successful, filled with success stories. In our Future Forward (Young Professionals) over 1535 participated; BAIDS, funded by the FedDev, provided support services to over 600 Black-owned businesses and utilized the professional services of more than 25 Black-owned service providers; BACEL Training Program empowered 563 entrepreneurs; Black Men in Business engaged 368 participants, and our 2023 Networking Event at the Globe and Mail Centre featured 20 businesses and 150 participants.

The National Scholarship Program has donated more than $6 million to over 3500 students since its inception in 1986. Additionally, the Black Business Christmas Marketplace showcased 20 entrepreneurs, offering purposeful Christmas shopping experiences.

Our 4th Annual National RiseUp Women+ Pitch competition is underway. This event showcases the potential of Black women

entrepreneurs, and with help from generous donors, demonstrates our commitment to supporting entrepreneurial dreams. In 2023, RiseUp received 1700+ applicants with ten women each receiving $10K and another fourteen receiving $2K grants.

Our 42nd Annual Harry Jerome Awards takes place on April 27th at the Beanfield Centre; a celebration of Black Excellence honoring 12 remarkable Black Canadians.

Join us for our virtual programs taking place on Saturdays Community Space, a financial literacy program promoting generational wealth; on Wednesday's Ask A Professional, which spotlights community members, and BAIDS Thursdays offer insights for thriving entrepreneurs.

On February 16th, in partnership with the Globe and Mail, we present a special Black History Month panel discussion, "Enduring and Thriving despite Adversity - Race in Canada" blending in-person and virtual interaction at the Globe and Mail Centre.

As we begin a new era for the BBPA, we remain grateful for your generous support and engagement; it is your dedication that fuels our passion to continue to break barriers and achieve lasting change.

For more information, please contact us at info@bbpa.org

Frances E. Delsol

Vice President of Operations, National Partnerships, Outreach and Procurement at(BBPA) Frances E. Delsol is the Vice President of Operations, National Partnerships, Outreach and Procurement at the Business and Professional Association (BBPA). The organization is Canada’s leader in supporting the business, entrepreneurial, professional, and overall social and economic development needs of the Black community.

Frances brings extensive insight and management competence from her experience as a corporate manager.

She was a Senior Procurement and Supply Chain manager at Bell Canada. She earned trade accreditations in both the US and Canada and helped to enact and deliver best-in-class procurement strategies at Bell. Her activities included industry representation as the Media Relations Officer in Canada for the Institute of Supply Management (US). She also served as a Public Relations Officer for the Durham Purchasing Management Association of Canada.

As a community advocate, she has served in several capacities. She was the founding President of the Council of Caribbean Associations Canada (CCAC). She is also a Community Influencer, working with the Canadian Armed Forces to help build bridges into all of Canada’s communities.

Staying True: The Power of Authenticity and Purpose I am honored to be featured in this insightful magazine that empowers, guides, and highlights the hard work of entrepreneurs. As a Black woman, I know that I am very privileged to be able to create, build, and exceed expectations in a world that is not always fair to my people. One of my favourite quotes that has always helped shape my business endeavours is the one by Cyril Ramaphosa: 'No action is too small when it comes to changing the world… I’m inspired every time I meet an entrepreneur who is succeeding against all odds.' This sentence represents me to my core. I've always been pushing and striving for more to help and guide my community, ultimately aiming to sustain a change in our lives and society.

Carla Beauvais

Co-Founder of Fondation Dynastie

Nowadays, diversity and inclusion seem to be the ultimate goal of all businesses when it comes to their values, employee hiring, and client

Carla Beauvais is a social

address my message to all social entrepreneurs; I know it is extremely demanding, and there is a cost to helping elevate what is in the shadows—

with awareness, respectful dialogue, the creation of an inclusive climate,

strategies, but it wasn't quite this popular just a few years back. I want to

meaning people and ideas that don't fit the 'norm.' But it is oh so important because it creates a voice and an environment for those who are oppressed and undervalued for unjust reasons. We all contribute to our country, and it is crucial to celebrate the plurality of points of view and backgrounds.

As we celebrate Black History Month this February, it is crucial to remember and get inspired by the women and men before me who paved the way,

allowing me to be who I am today and have the opportunity to be featured in this magazine! I always strive to meet their level of dedication, resilience,

and focus because I believe that those qualities are key to succeeding and maintaining a clear sense of self and sanity when challenges come our way. I believe that staying true to who we are and finding our mission in life is paramount to attracting the right people that will help us reach our goals and rise to the circumstances that matter.

Lastly, I would like to mention how mental health and self-care are so precious for our well-being. We can be so busy and ignited by so much passion that we forget to make time for ourselves. We sometimes feel that our need to rest can wait because the cause that we are fighting for is so much more important...

However, I have learned that putting myself first doesn't mean forgetting my purpose, but it allows me to be better equipped to push more boundaries. It's not an easy task... Trust me, I sometimes fail myself, but I know, it is essential and we all need to remind ourselves of the importance of self-care.

I salute all of you courageous leaders out there; let's keep the light going for a better future for the generations to come! Happy and Proud Black History Month !

entrepreneur, columnist, and consultant. Convinced that an equitable and inclusive society begins

and a willingness to take action, she is highly involved in several organizations and projects that share the same perspectives.

For over ten years and until recently, she orchestrated and coordinated the development and organization of Black History Month, whose programming highlights Quebecers from Black communities who contribute to the development of society.

In parallel, she co-founded Fondation Dynastie, which advocates for diversity and inclusion in the fields of arts, culture, and media. She then cofounded Orijin Village to provide technology solutions to businesses in black communities, enabling them to reach new market segments and bridge the digital divide.

She spent some time in Haiti coorganizing several events creating social and economic momentum in the country. She also co-founded Konsome Lokal, an organization that raises awareness about the role of buying locally in the country's future and the health of consumers.

Tiffany Callender's Blueprint for Black Economic Empowerment in Canada

In her interview with CanadianSME Small Business Magazine, Tiffany Callender, co-founder and CEO of FACE (Federation of African Canadian Economics), discussed the evolving landscape of Black entrepreneurship in Canada and the impact of FACE's initiatives. She highlighted the significant role of the Black Entrepreneurship Loan Fund in overcoming funding barriers, with over $25 million in loans disbursed to Black entrepreneurs. Beyond financial assistance, Tiffany emphasized FACE's commitment to empowering the Black business community through educational programs, collaborations for financial literacy, and business management training. Addressing the challenges of wealth creation among Canadians of African descent, Tiffany stressed the importance of building cultural competency among leaders and policymakers to understand the community's unique nuances. She advised aspiring Black entrepreneurs to focus on solid business planning, financial literacy, mentorship, resilience, and promoting their unique value propositions. With Black History Month raising awareness about Black economic empowerment, Tiffany envisioned a future with increased capital access, entrepreneurial education, and global competitiveness for Black-owned businesses in Canada, with FACE playing a crucial role in shaping this future.

39 - CanadianSME - February 2024

Co-founder and CEO, FACE

Tiffany, since co-founding FACE, how have you seen the landscape of Black entrepreneurship evolve in Canada? What specific impacts have FACE's initiatives, especially the Black Entrepreneurship Loan Fund, had on the community?

There has been an increasing awareness of the importance of diversity and inclusion in the entrepreneurial ecosystem. Various organizations, both government and private, have been working to support and promote Black entrepreneurs through mentorship programs, funding initiatives, and networking opportunities. Access to funding remains a significant challenge for many entrepreneurs but FACE's efforts, particularly through the Black Entrepreneurship Loan Fund, have played a crucial role in providing significant financial support to Black-owned businesses.

The approval and disbursement of over $25 million in loans to about 180 Black entrepreneurs in just two years reflect a

Exclusive Interview substantial contribution to overcoming the funding barriers faced by these businesses.

Beyond financial support, FACE has demonstrated a commitment to empowering the Black entrepreneurial community through educational programs.

Producing educational materials, organizing

In your journey with FACE, what have been some of the most significant challenges you've encountered in striving to accelerate wealth creation among Canadians of African descent, and how have you overcome them?

management are essential steps in building the skills and knowledge necessary for sustained business success. Our

decision-makers, and policymakers outside the Black community. The unique nuances, backgrounds, and histories of members within the Black community, many of whom are

webinars, and hosting events focused on financial literacy and business

collaboration with TD Canada Trust Bank to provide grants to businesses needing support in developing business plans and financial statements is a commendable effort. These elements are indeed crucial

documentation for accessing capital, and assisting businesses in this regard enhances their ability to plan and ensure continuity. FACE's holistic approach,

combining financial support with educational initiatives and collaborations, indicates a comprehensive strategy to foster the growth and sustainability of Black-owned businesses.

In the pursuit of accelerating wealth creation among Canadians of African descent, one of the most significant challenges encountered is the need to build cultural competency and awareness among business leaders,

first- or second-generation immigrants, present a distinct cultural context that requires a nuanced understanding.

Effective empowerment necessitates an appreciation for the diversity and richness within the Black community, emphasizing the importance of cultural awareness in fostering inclusive economic practices and policies. This challenge underscores the imperative of bridging cultural

gaps to create an environment that truly supports and empowers Canadians of African descent on their journey to wealth creation. In my engagement with business leaders and policymakers, I have continually advocated for cultural

competency and awareness to ensure that policies and programs are not only inclusive but also designed to be genuinely beneficial to Canadians of African descent with the hope of breaking down barriers and fostering an economic landscape that acknowledges respects and supports the unique cultural aspects of the Black Community.

What advice would you offer to aspiring Black entrepreneurs in Canada today? Based on your experience, what are the key factors that contribute to their success and sustainability in business?

For aspiring Black entrepreneurs in Canada, several key factors contribute to success and sustainability in business.

Here is some advice based on my experience:

Develop a Solid Business Plan - A well-thought-out business plan is essential. It serves as a roadmap, helping the entrepreneur define goals, target markets, and financial projections.

Financial Literacy - Understand the financial aspects of the business. Being financially literate allows the entrepreneur to make informed decisions, manage resources effectively, and navigate funding opportunities.

Image courtesy - canva

Image courtesy - canva

Seek Mentorship - Connect with experienced mentors who can

Looking ahead, what are your

provide guidance and share their insights. Learning from those who have navigated similar challenges can be invaluable.

aspirations for the future of Black economic empowerment in Canada? How do you envision

Resilience - Entrepreneurship comes with challenges. Develop resilience to overcome setbacks and learn from failures.

FACE's role in shaping this future?

Adaptability is key in the face of adversity.

In the future, I hope to see increased

Promote Your Unique Value Proposition - Clearly articulate what sets your business apart. Whether it's a unique product, service, or approach, emphasizing your value proposition is

funding mechanisms, loans, grants, and initiatives, contributing to the

crucial for attracting customers.

As we celebrate Black History Month, how do you perceive its importance in terms of raising awareness about and supporting Black economic empowerment in Canada?

Black History Month provides an opportunity to recognize and celebrate the achievements, talents, and contributions of Black individuals in various fields, including business and entrepreneurship throughout history. Acknowledging the historical achievements of the Black community fosters a sense of pride and resilience but it also creates role models that aspiring entrepreneurs can look up to and aspire to emulate. The increased visibility and representation during the Black History Month helps challenge stereotypes, promote diversity, foster empathy, and promote systemic change. It becomes a platform to discuss and address the economic disparities and challenges faced by the Black community, advocating for policies and initiatives that promote economic empowerment.

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access to capital for Black entrepreneurs through various

growth and sustainability of Blackowned businesses. I envision a future where there is widespread access to entrepreneurial education and support programs. These programs could include mentorship, training, and resources tailored to the needs of Black entrepreneurs. FACE will continue to promote financial education and support programs to ensure more black businesses are ready for funding while also providing the funds required to grow and sustain their businesses. I hope to see Black-owned businesses achieving global competitiveness, participating in international markets, and contributing to Canada's reputation as a diverse and inclusive hub for innovation and entrepreneurship.

Stacy’s Rise Project Impact: Perspectives by

Manjit Minhas Manjit Minhas, is a Canadian entrepreneur, television personality, and entrepreneur.

Co-Founder and CEO of Minhas Breweries & Distillery

Prominent Canadian entrepreneur

She is the co-founder and CEO of Minhas Breweries & Distillery, manufacturer of such beer brands as Boxer Lager & Pilsner and Mountain Crest Classic Lager.

Manjit has been the star of the CBC reality television series Dragons' Den since 2015.

and regular on CBC's Dragons' Den, Manjit Minhas, has recently given an interesting interview to CanadianSME Small Business Magazine. This discussion was

As a successful entrepreneur, you've seen firsthand the challenges

about women entrepreneurs and the obstacles in the entrepreneurial path.

venture capital funding, and how the Stacy’s Rise Project aims to address these challenges?

Given that only 4% of venture capital funding in Canada is allocated to women-owned businesses, the necessity for selffinancing becomes exceedingly clear. Manjit describes how Stacy's Rise Project is propelling a substantial change with the collaboration of Stacy's brand and PepsiCo Canada.

She also shed light on the project's impact, her experience in the beverage business, and the general funding concerns faced by women entrepreneurs in today's economy. Plus, besides enumerating the hurdles of women entrepreneurs, this discussion also covers the potential solutions and support networks, such as Stacy's Rise Project, that are crafting seamless ways to entrepreneurial growth and success.

faced by women in business. Can you discuss the unique obstacles that women entrepreneurs encounter, especially in securing

“Well, I'd like to say I was shocked to find that out of a million entrepreneurs in Canada, women-owned businesses only receive 4% of venture capital funding? But, unfortunately, I can't say that I am.

"That means self-funding is really the only option for Canadian women aspiring to own businesses, which is of course a huge barrier.

What are your options? I sold my car to finance my first company, but that's not an option for everyone. Do you dig into your savings to grow your businesses? Or maybe you choose to hold off starting a business altogether.

“That's why initiatives like the Stacy's Rise Project are so exciting.

Championed by the Stacy's brand, the project focuses on empowering and supporting women entrepreneurs to help them address these questions.

Each recipient receives a $25,000 grant but also a once-in-a-lifetime mentorship opportunity with PepsiCo Canada executives, who can help them with strategies to grow their business.

“The Stacy’s brand also fosters a community providing access to resources, mentorship, and networking opportunities that frankly aren't necessarily or as prevalent for women.

"AND the program offers grants to women-owned businesses to help them grow and succeed — I sure would have appreciated that when I was starting out!”

Interviews The Stacy’s Rise Project offers financial support and mentorship to female entrepreneurs. How do you believe this support will impact the recipients and contribute to their business success?

“I've heard previous winners of the Stacy’s Rise Project describe the funding as a ‘lifeline’. The program has allowed these incredible women to launch new products, expand distribution channels, and grow their

businesses. Not only has the grant opened new business opportunities, but it’s also enabled women to have a better work-life balance. For example, Kristyn (Carrier) from 7 Summits Snacks shared that she was able to use funding from the Stacy’s Rise Project to hire a new employee so she could take maternity leave! I mean, what an amazing gift at an incredibly important time for new mothers and families!

“The mentorship component of Stacy's Rise Project also helps women entrepreneurs navigate challenges, make informed decisions, and avoid common pitfalls. This

ultimately contributes to their long-term success by providing them with guidance, advice, and insights from experienced individuals.

“Not only does the project provide businesswomen with access to funding and knowledge, it also creates a supportive community of women entrepreneurs across Canada and the United States, fostering collaboration and shared experiences. This sense of community is a powerful motivator and source of encouragement, especially in industries where women are underrepresented. This helps to build a sense of comradery and connection.”

Given your extensive experience in the beverage industry, what kind of mentorship and guidance do you plan to provide to the awardees of the Stacy’s Rise Project? What are key lessons from your journey that you'd like to share with them?

"I've always found the best lessons come from within.

It's easy to get caught up in looking at other companies but comparing ourselves to, say, a multinational conglomerate is pointless if the customers we have are not fully satisfied. Always be examining the customer experience and ensuring are you delivering value to your clients. Only then can you think about someone else's share of the market."

With the current economic climate and rising living costs, what advice would you give to women looking to start a side hustle or a small business? How can they navigate these economic uncertainties effectively?

"Sure, we certainly feel our share of pressure when it comes to rising costs across the board and the general economic climate but it's true small

business owners may feel those shifts more acutely. A core piece of advice I can offer is for new entrepreneurs to view their size as a positive and not assume that size equals stability – it does not.

“As a small business, you can be nimble and pivot in creative ways large organizations cannot. There

are now routes to market I never could have dreamed of and opportunities we cannot afford to gamble on pursuing. Being small and independent is your strength, not an impediment.”

How do you envision the future of women's entrepreneurship in Canada? What changes or developments would you like to see in the coming years to further support and empower female business owners?

“It's clear we need to educate the venture capital community firms on addressing gender bias in

funding decisions and increase access to funding in general. Specialized funding initiatives, such as the Stacy's Rise Project, are a start — and commitments by financial institutions to support women-founded businesses are imperative to make starting a business more accessible.

“I’m also a huge advocate for mentorship – that’s why I was delighted to get involved in the Stacy’s Rise Project as it offers life-changing mentorship opportunities to grant recipients! I’d like to see more diverse mentorship programmes that connect women entrepreneurs with experienced mentors in their industries. Doing this will help women founders broaden their professional network and access more business opportunities.

“If we focus on these changes, we can work towards creating a more inclusive and supportive ecosystem for women entrepreneurs, fostering economic growth, innovation, and diversity in the business landscape.”

How

Shoplazza

Helps SMEs Compete in Today's Market

By Randin Kinsbruner, CEO of Shoplazza

Shoplazza has become a significant player in the Ecommerce SaaS sector, catering to direct-to-

Shoplazza's platform is especially beneficial for established brands looking to migrate their

multilayered business strategies and impactful ways of utilizing technology, helping brands fast-track

businesses to seamlessly import products, comments, blogs, and more. The platform

consumer (DTC) brands and B2C E-commerce businesses. Our platform accommodates

their entry into the global market. By supporting a diverse range of customers selling various products like wellness accessories and tech, Shoplazza

demonstrates its adaptability and relevance across sectors. Notably, the platform powers over 360,000 online stores in more than 150 countries, showcasing its widespread impact and the trust it has earned from businesses globally.

A key aspect of Shoplazza's offerings is the integration of AI generative content creators, which are transformative for merchants in showcasing their products and brands at a significantly lower cost.

This AI-driven tool allows for the automatic generation of high-quality, engaging content, including product descriptions, marketing copy, and graphics, tailored to the merchant's specific needs.

This not only streamlines the content creation process but also optimizes it for SEO, enhancing online visibility at a fraction of the typical cost.

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business model into the digital economy. Our free migration tool simplifies this process, allowing

includes a comprehensive suite of tools including a website builder, ERP, CMS, and marketing tools, all accessible through a user-friendly interface

that doesn’t require coding skills. This approach not only caters to experienced business owners but also makes it an excellent choice for beginners, providing a centralized dashboard and resources like free stock photos to enhance site aesthetics.

With the addition of AI and O2O (Online-toOffline) strategies, Shoplazza is committed to leveling the playing field for SMEs in the competitive digital landscape, ensuring that they have access to the same advanced tools and technologies as larger competitors.

E-commerce Insights on Balancing AI Tools with Human Touch in SME Sales & Marketing

Shoplazza's Approach to Democratizing Commerce for SMEs

That’s such an important question. Shoplazza plays a

That’s essentially one of our core values.

holistic approach, combined with Iong's expertise in SAAS platforms and E-commerce, underlines

online business, thereby solidifying their global presence.

pivotal role in supporting SMEs within the E-commerce sector, providing insights into the prevailing challenges and opportunities in this dynamic landscape. The platform's key account director, Simon Iong, emphasizes Shoplazza's commitment to assisting SMEs in navigating through these challenges and seizing lucrative opportunities. The platform offers unique selling propositions, features, and solutions specifically tailored to SMEs, backed by examples of successful collaborations and partnerships. This

Shoplazza’s focus on driving global growth and nurturing business relationships.

At the CanadianSME Summit, Shoplazza highlighted the transformative role of AI in the E-commerce industry, emphasizing efficiency, personalization, and user-friendliness. The event featured a panel discussion on "Future-Proofing SME Sales: Balancing AI Tools with Human Touch", exploring the critical balance of employing advanced AI tools while preserving the human element in SME sales strategies.

This topic is especially relevant as AI becomes increasingly integral in business operations, and Shoplazza’s participation in such discussions demonstrates their commitment to evolving alongside these technological advancements, ensuring that SMEs can effectively navigate the E-commerce landscape.

Image courtesy - canva

Shoplazza's mission is to empower businesses of all sizes to confidently navigate the E-commerce landscape. The platform's comprehensive solution encompasses everything from storefront design to payment processing. This approach is particularly beneficial for SMEs, especially those lacking a technical background. By offering a user-friendly platform that doesn't require advanced coding or design skills, Shoplazza enables even those without technical expertise to establish and grow their

The challenge for many SMEs lies in transitioning from traditional business models to structured Ecommerce models, a process that demands substantial investment in technology, marketing,

and customer service. Despite these challenges, the E-commerce environment offers immense opportunities, such as reaching a global audience, operating 24/7, and leveraging data and analytics. Shoplazza plays a crucial role in helping SMEs capitalize on these opportunities by providing them with the necessary tools and support, thereby ensuring their success in the online marketplace.

Success Stories Demonstrating Shoplazza's Impact on SMEs Shoplazza's extensive network includes collaborations with over 500 partners, which is a fundamental aspect of supporting SMEs in their Ecommerce journey. These partnerships with entities like Google, Meta, TikTok, PayPal, and Stripe have revolutionized the SME experience. For instance, the partnership with Google offers SMEs advanced analytics and advertising tools, enhancing their understanding of consumer behavior, optimizing marketing strategies, and amplifying online visibility and reach. The integration with buy now, pay later services like Klarna also plays a significant role in supporting SMEs by providing additional payment options, making purchases more accessible and boosting sales.

E-commerce Inline with our commitment to support SMEs, Shoplazza offers a comprehensive platform that simplifies setting up, managing, and growing an online store. Equipped with AI-powered tools, the platform enhances various aspects of Ecommerce operations from inventory management to customer service. In addition to these features, Shoplazza aids small businesses in expanding their reach with integrated marketing and SEO tools designed to increase online visibility and attract a larger audience.

This focus on broadening the customer base is critical for business growth and showcases

Shoplazza's dedication to aiding SMEs in their Ecommerce endeavors.

Future Opportunities and Challenges for SMEs in Commerce We are very excited about our future in this evolving space. Looking ahead, the E-commerce landscape presents both significant opportunities and challenges for SMEs. The sector's dynamic nature requires businesses to constantly adapt to evolving consumer behaviors and technological advancements.

Shoplazza ‘s comprehensive and robust platform is well-positioned to help SMEs navigate these changes.

The platform's focus on global expansion, powered by collaborations with major tech companies, provides SMEs with the tools and resources they need to thrive

in the competitive online marketplace. These partnerships, coupled with Shoplazza's commitment to

Balancing AI-Driven Solutions and Human Support for SMEs Creating the right balance is, of course, critical.

As part of our commitment to SMEs, Shoplazza

ensures that while offering advanced technology, the human aspect of business is not overlooked.

The platform's AI-powered features streamline operations and enable efficient inventory

management and customer service. However, Shoplazza recognizes the importance of human interaction and customer support, ensuring that

SMEs have access to personalized guidance and assistance. This balance between technological advancement and human touch is central to Shoplazza's ethos and is crucial in maintaining the trust and loyalty of small business owners.

The CanadianSME Summit provided an ideal platform for Shoplazza to demonstrate its approach to this balance. The event's panel discussion, “Future-Proofing SME Sales: Balancing AI Tools with Human Touch”, offered valuable insights into how SMEs can effectively integrate AI tools while maintaining the irreplaceable human element in their sales strategies. This discussion is a testament to Shoplazza's understanding of the modern business landscape, where technology and personal touch must coexist to ensure the success and growth of SMEs in the ever-evolving E-commerce domain.

innovation, make it a reliable ally for SMEs facing the future challenges of E-commerce.

The future for SMEs in E-commerce is not just about leveraging technology; it's about understanding and

adapting to market trends and consumer preferences.

Shoplazza’s focus on AI-powered tools and integrated marketing solutions, is poised to assist SMEs in these areas. The platform's ability to help businesses

expand their reach, coupled with our emphasis on user-friendliness and accessibility, ensures that SMEs can capitalize on emerging opportunities while

overcoming potential challenges. This forward-looking approach underlines Shoplazza's role as a key facilitator in the growth and sustainability of SMEs in the ever-changing E-commerce landscape.

Randin Kinsbruner is a seasoned senior executive with 25 years in global brand building, particularly in the sports apparel and lifestyle industries. Known for leading teams to drive revenue and profit in competitive markets, Randin combines an entrepreneurial spirit with strong networking skills. With extensive experience in cross-organizational management and a deep understanding of global pop culture, Randin is currently the CEO of Shoplazza in the US.

Canadians on TikTok:

The French-speaking Community

By Erinn Piller, Head of Global Business Marketing, TikTok Canada

With over 1 Billion people from around the world coming to TikTok each month to be entertained, it's clear that content on TikTok has emerged as a global mosaic where diverse communities connect at scale as they learn, laugh, or discover something new. With content that spans beauty, fashion, food, and everything in between, culture starts on TikTok and opens doors for new brands to be discovered or deeper connections to be made. For marketers and brands, TikTok is a place to engage with consumers in unique, authentic ways while building lasting connections.

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Most French-speaking Canadians on TikTok live in the 1 province of Quebec, and according to Statistics Canada, 85% of Quebec residents speak French at 3 home regularly.

How do you build affinity and drive

impact within this distinct community in Canada? To help clients authentically engage and forge deeper connections with French-speaking Canadians on TikTok, we wanted to understand the community as consumers, the shared experiences they value, and

how they seek to connect with brands. So we teamed up with Legér, Canada's largest research firm to dig deeper into the French-speaking Canadian community on the platform and sought to better understand them.

Here are a few key takeaways...

First, let's talk about "Joie de Vivre." The Frenchspeaking Canadian audience on TikTok favours experience-based content on the platform - think travel, wellness and food. 68% prioritize products that 1 1 bring them joy in the moment and 59% are even willing to pay a premium for quality. French-speaking Canadians on TikTok are 1.6x more likely to agree that 1 living in the moment is a priority, than Englishspeaking Canadians. There's an opportunity to strengthen impact by highlighting how a brand's product can bring value and enrich life.

Social Media Second, relatability is key to success.

While language is a crucial factor to consider, with 81% claiming they are more loyal to brands that advertise in French², French-speaking Canadians on TikTok also value other aspects that reflect their culture and identity. For instance, 49% agree that entertaining and humourous content speaks to

Third, connection drives consideration. French-speaking Canadians have a distinct culture, so it stands to reason that brands can really lean into the community to drive results. In fact, over 80% of French-speaking Canadians on the platform agree that they want to see more ads with local creators², and a majority prefer when brands have campaigns or partnerships customized for them. Interestingly, the research found that French-speaking Canadian audiences on TikTok root their purchases in social proof and communal experiences. For

nuance.

on TikTok and brands.

them the most and 86% want to see cultural references in ads they can relate to. So, there's a great opportunity here for brands to stand out when they lean into authentic and relatable content, such as localizing ads with French content and cultural

instance, 61% rely on recommendations from their inner circles before making purchase decisions. This emphasis on social proof affirms the need for brands to truly lean in, expand their range, reach these inner circles and foster better connections with them to deliver entertainment value. The takeaway: Working with local creators who are entertaining and relatable is key to bridging the gap between French-speaking Canadians

Ultimately, the opportunity is immense. The French-speaking Canadian community on TikTok is one of endless creativity and engagement. For brands, this is the time to not just explore a deeper connection but an invitation to truly unlock the vast potential by diving right into the research and leading the way. You can explore more of our findings here.

Source 1: TikTok Marketing Science FrenchCanadians Study 2023, conducted by Léger Source 2: TikTok Marketing Science NA Best Practices for Multilingual Campaigns Study (Canada Results) 2023, conducted by NRG Source 3:

https://www150.statcan.gc.ca/n1/dailyquotidien/220817/dq220817a-eng.htm Image courtesy - canva

Business Woman of the Month

Larissa Crawford Founder of Future Ancestors Services

A Journey of Intersectional Impact:

Larissa Crawford

Larissa Crawford is a remarkable figure in the realm of social entrepreneurship and advocacy, embodying the essence of transformative change. Larissa possesses a rich and diverse identity, drawing from her Métis and Jamaican ancestry, which she passes onto her 7year-old daughter, Zyra. She excels in various roles, including being a restorative circle keeper and an acclaimed ribbon skirt artist. However, her true impact lies in her leadership of Future Ancestors Services, a youth-led social enterprise that is reshaping the concepts of equity, climate justice, and anti-racism.

Future Ancestors Services: Building on Ancestral Accountability and Climate Justice The anti-racism and ancestral responsibility concept is central to Larissa Crawford's worldview. More than a mere consultant, Future Ancestors Services represents a sea change. Larissa runs a diverse business that provides a range of services, including training, consultancy, speaking engagements, and research,

50 - CanadianSME - February 2024

via intergenerational, disability, and queer staff. Their dedication to decolonized and Indigenized practices is what distinguishes them. Constantly challenging established norms, they reimagine the connections between climate justice and diversity, equality, and inclusion.

Unparalleled Insight: Larissa's One-of-a-Kind Triumph Larissa's viewpoint is shaped by her life experiences as a young mother, a survivor, an Indigenous and Black woman, and someone with a handicap related to chronic pain. These aspects give her a distinct perspective, which she uses to question established narratives and provide a voice to the voiceless. With her unwavering support for these voices, Future Ancestors Services has become a centre for true inclusion and representation, going beyond simple symbolism.

Business Woman of the Month The Impact and Acknowledgment of Larissa's Trailblazing Role Larissa has received numerous accolades that speak to the significant impact she has made.

These include the York University One to Watch Alumni Award and Top 30 Under 30 Alumni, Pollution Probe Equity in Sustainability Award, recognition in Complex Canada's 20 Creators Who Will Shape the Next 20 Years of The Culture, and being named one of Women of Influence’s Top 25. These honours highlight the extent of her influence and accomplishments. Her talent for connecting corporations with the communities she truly cares about is evident through her notable partnerships with global businesses like Merrell, Nike, and The Body Shop.

Larissa Crawford has made it a priority to foster inclusive spaces where diverse narratives can thrive. Through her efforts, she transforms Future Ancestors Services into a platform for driving social change, going beyond mere consultation and challenging the systems that uphold inequality. Her work demonstrates a unique perspective on business that integrates activism, empathy, and strategic thinking.

This new generation of entrepreneurs is driven by more than just financial gain; they are committed to creating a meaningful and long-lasting influence on society.

Larissa Crawford's ability to inspire others and drive inclusive change sets her apart as more than just an entrepreneur. Her visionary approach promises a lasting impact that will resonate for years to come.

Larissa's explorations of anti-racism, ancestral responsibility, and climate justice are leaving a lasting impact on the world. She is not only making a difference in the present but also sowing the seeds for a future where the stories of all individuals are acknowledged and appreciated.

Check out the official website here to learn more about Larissa’s services and ongoing projects.

Discover the invaluable insights that CanadianSME Magazine provides to both startups and established businesses in Canada. Subscribe now here to gain access to essential knowledge. To stay updated, follow us on Twitter at @canadian_sme. Come and be a part of our vibrant community of business enthusiasts as we embark on a journey toward achieving success!

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Embarking on the dynamic journey of small business management demands a keen understanding and strategic use of financial metrics. In this ever-evolving business landscape, these metrics act as beacons, navigating entrepreneurs through complexities, much like a lighthouse guides ships through treacherous waters. This article explores the intricate world of financial metrics for small businesses, emphasizing how informed decision-making is the cornerstone of enduring success.

Financial Metrics: Why are they necessary?

1

Revenue

Revenue, more specifically, sales revenue, is a key performance metric that indicates the amount of income generated from the sales of goods or services. Apart from being a key metric for financial health, when analyzed against costs, sales revenue provides a panoramic view of the firm's profitability and paves the way for

precise strategic decision-making and resource utilization. Furthermore, thriving sales revenue equates to a prospering firm that acts as a point of attraction for investors. Essentially, sales revenue is paramount in guiding a business to reach sustained growth and success.

Financial metrics are key performance indicators of a business, and they convey much more than

just numbers. This gold mine of data enables you to evaluate your business' standing against its goals periodically. Understanding financial metrics helps in early detection of aberrations;

this gives you the luxury of time to fix them before the ripples reach your profits. It empowers your business not just to survive, but to thrive and evolve continually, ensuring financial prudence.

What are some basic metrics relevant for businesses?

It is easy to get confused when looking at the number of financial metrics that one can track.

Focusing on metrics irrelevant to your goals results in misinterpretation of your business trajectory. To steer clear of this pitfall, it is imperative to focus only on the metrics that truly matter. Listed below are five key performance metrics that will help gauge your business health.

52 - CanadianSME - February 2024 Image courtesy - canva

Small Business Finance

2

Net Profit Margin

Net profit margin provides indication about the profitability of an organization and is calculated as a percentage using earnings after tax, dividing it by net revenue, and multiplying by 100. Net profit margin ratio acts as a key metric in offering insights about the organization's cost management and how to further extract profits from business operations. In general, positive and growing net profit margin figures signal a strong financial position while a negative or declining figure

reflect a call to take a closer look at the firm's financial health. The gross profit margin ratio is similar to the net profit margin but overlooks interest, taxes, &

other expenses, which makes the net profit margin a better metric to evaluate profitability.

Image courtesy - canva

3

Cash Flow

A healthy cash flow is both a necessity and a continuous hurdle for many businesses. Understanding cash flow is key to measure both current cash inflows and outflows, and to forecast future cash positions.The balance of cash flows could be disrupted by various factors such as unanticipated expenses, overdue bills, and unstable revenue. The cash flow statement calls attention to businesses' cash sources as well as helping them stay compliant with reporting

standards. Having firm governance over effective cash management is key to handle day-to-day demands and capitalizing on opportunities for expansion.

4

Budget vs Actuals

A budget vs. actuals report helps business owners ascertain whether the business has met, exceeded, or fallen below the projected expenses set out for the financial year and if there are any inaccuracies in the reported figures. This metric aids in specifically

understanding which expense category may have played a key role in meeting or exceeding the set target. Furthermore, it gives business owners wiggle room to judge if further funding is to be sourced to balance out any extra spending.

Small Business Finance

Conclusion: As the business landscape undergoes constant transformation, it is vital to focus on key financial metrics that aid in triumphing over obstacles. These provide a comprehensive view of the company's financial health, enabling informed decision-making and strategic planning.

Now that you are aware of the importance of financial metrics, it is also imperative to understand that a comprehensive accounting solution would be your best ally in this regard, as it streamlines the process of collecting, organizing, and analysing financial data.

Modern accounting solutions not

only automate routine accounting tasks, reducing the likelihood of

errors, but also generate detailed reports and forecasts, facilitating a deeper understanding of your business performance in real-time and also enabling you to forecast the future.

Image courtesy - canva

5

Current Ratio or Working Capital Ratio

The current ratio is one of the key liquidity ratios that aid businesses in gauging their solvency and ability to meet current obligations. The current ratio measures current assets against current liabilities. Current assets are those that can be converted into cash within a year's time period, including inventory, shortterm investments, accounts receivables, cash, etc. While current liabilities are any payments to be settled within the next year including short-term debt, accounts payables, accrued expenses, income taxes etc. What is the benchmark for a good current ratio depends on the industry. In general, having a ratio between 1 and 3 is said to be ideal, but depending on the industry and the business model, the ratio may differ.

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Zoho Books is a comprehensive and user-friendly solution that addresses the unique challenges faced by entrepreneurs, providing a solid foundation for financial success.

Trusted by thousands of businesses and CPAs from diverse industries across the globe, Zoho Books simplifies endto-end accounting and bookkeeping, ensuring compliance, providing federal & provincial tax returns, offering realtime insights, facilitating secure collaboration, and enabling growth.

Myriam Jean-Baptiste and Stevens Charles, Co-Founders of LS cream

Image courtesy - LS cream

From Family Recipe to Market Leader:

The LS Cream Revolution In their enlightening interview with CanadianSME Small Business Magazine, Myriam Jean-Baptiste and Stevens Charles, co-founders of LS Cream, detailed their journey in creating a unique cream liqueur inspired by their Haitian heritage.

Originating from the traditional Haitian recipe of cremas, LS Cream was born from familial customs and infused with flavors like cinnamon, vanilla, coconut, and nutmeg. Adapting this ancestral concoction into a commercial product posed challenges, particularly in modifying its density and shelf life to suit broader consumer preferences and comply with regulations. The duo's strategic approach in introducing LS Cream to the US market as the first Black-owned cream liqueur brand involved leveraging social media and forging key industry partnerships. Their commitment to their Haitian roots is further reflected in their partnership with Hope for Haiti, underlining their dedication to social responsibility. This innovative venture, bolstered by critical support like the FACE loan, highlights their passion and ingenuity in bringing a taste of Haiti to the global stage.

Could you share with us the story behind the inception of LS Cream Liqueur and how your Haitian heritage played a pivotal role in its creation?

Myriam: LS Cream is inspired by an ancestral recipe from Haiti called cremas, a delicious concoction of notes of cinnamon, vanilla, coconut and nutmeg made with high proof rum and condensed milk. We grew up with our grandmothers, our aunts and our moms whipping up batches of cremas every holiday to share with family and friends. A few years ago, while at a family function, we saw a bottle of cremas on the table and thought to ourselves: ‘’what if we took the taste of cremas and put it in the form of a traditional cream liqueur, one that could be found on the shelf next to the other brands that we all know of, ready to drink for everyone to enjoy’’.

We decided to take Stevens’s late grandmother’s recipe as the base of our research into making what is now known as LS Cream. ‘’LS’’ is a mix of Stevens’s initial and his grandmother’s initial as an homage to her.

Interviews

Stevens: It wasn’t more of a challenge than knowing from the get-

The second aspect we wanted to improve on was the fact that while cremas is delicious, there was an unpleasant finish in mouth coming from the residues left from the sugar and spices mixed into the recipe.

Since cremas is hand-mixed making,

necessary alcohol regulations applied both in Canada and the US. To put it in context, one of the first thing that we did after having the idea was to ask my aunt to come to our house so we could do

the sugar are sometimes left on the glass. The third and final aspect was the shelf life. Cremas being a cream

What challenges did you face in capturing the authentic taste of cremas, as inspired by Stevens' late grandmother's recipe, and transforming it into a commercial liqueur product? How did you ensure the balance between staying true to the traditional recipe and appealing to a broader market?

go that we wouldn’t be able to commercialize traditional homemade cremas in its current state as it wouldn’t pass the

a batch of cremas from scratch using my grandmother’s recipe.

She had left it on a handwritten note in a ziploc bag that my family took out whenever they wanted to do cremas. This is where I saw for the first time and reallly paid attention to how much it cost to gather all the ingredients and how long it took in the kitchen to do

a small batch of cremas. Because we consumed cremas almost all our lives we already had an idea of how we would proceed to make it more appealing for everyone to enjoy, whether Haitian or not. There were 3 things that we wanted to improve on. First was

the high density or thickness of the drink itself which is the result of the condensed milk mixed with the coconut milk. We knew that to make it appealing to restaurants and bars, it had to be more liquid in order to be easily used in cocktails and other recipes.

it impossible for it to be a homogeneous drink and residues of

drink made with various dairy product had a very short shelf life

even if refrigerated. From there, we decided to bring this batch to a friend from university who was

having a birthday party at his house.

Myriam and I were the only black people there and we took the bottle of cremas, which we had poured in

an empty vodka bottle. We put the bottle in the same bucket as the wine and the rest of the alcohol and started observing people taste it.

Clearly the guests could see that it

was homemade with it being a cream drink in a known brand vodka

bottle. The drink was a hit, they loved it! When we asked the guests (that had now become our small focus

group) about what they thought of tasting cremas for the first time, they all confirmed what we had predicted by doing this exercise. They all said that it was the best cream they’d ever tasted but they would prefer it to be less dense or thick making it easier to consume and they would like it to have less spice and sugar residue which left them with an unpleasant finish in the mouth while drinking. That’s why we decided that we wanted LS Cream to become the evolution of traditional cremas.

Creating a product with all natural ingredients, gluten free, low in lactose and with a shelf life superior to other cream liqueurs in the market, all while keeping the taste of cremas.

Image courtesy - LS cream

Interviews LS Cream has expanded into the US market, which is a significant milestone. What were the strategies you employed to introduce and establish LS Cream in a new market, especially as the first Black-owned cream* liqueur brand?

Stevens: We went and looked for investors and partners connected in the liquor industry. We were able to get the attention of Kenny Burns and Fawn Weaver and they both became investors of LS Cream. With their help it became easier for us to be in the conversation as they we’re able to point us in the right direction and also get us in the right rooms. However, our main driver remains our social media presence which has grown organically since its creation. We’re able to stay connected with distributors, retailers and consumers at the same time, making the conversation about LS Cream relevant 365 days of the year.

Image courtesy - LS cream

Myriam: The Liquor industry is known to be very gated, and there’s not a lot of people in the industry that look like us. It is mainly a white middle-aged men occupied space. This is why when we

Looking ahead, what are your future

brand at a high level and be prepared to be challenged. We keep participating in Wine and spirits competitions so we have

to further grow your brand and its impact?

attend major industry conventions, we make sure to represent the

medals validating the quality and taste of the product on top of consumer appreciation. I remember when we learned that we had been awarded the Gold medal for the taste and the quality of LS, without having one bottle sold on the shelves yet. This award proved to us that LS Cream had what it took to be a

successful brand in the category and that we also had the ‘’approval’’ of the industry. We then realized that relationships

were very important and started to build them by showing up,

doing the work, and sharing the journey with our customers through our social media platforms. These initiatives garnered the attention of important players in the industry which led us to our first seed investment.

Your partnership with Hope For Haiti to fund water filtration systems is a notable aspect of your brand's commitment to social responsibility. Why is this cause important to you and how your organization plan to continue its efforts in supporting Haitian communities?

We always say that without Haiti, without our Haitian culture, there would not be any LS Cream Liqueur. We owe everything to our homeland and our heritage. When we first got introduced to Hope for Haiti, we immediately felt the connection with their team and their mission to help communities in Haiti. The fit between us was immediate and we want to continue doing everything we can to support this amazing organization. We plan to continue our partnership through fundraising events, sponsorships, sharing proceeds from sales and more.

goals for LS Cream? Are there any new initiatives, flavors, or expansions you are currently planning or envisioning

We are working to get into Ontario and other Canadian provinces as well as

additional US markets. Can’t share too many details yet, but let’s say we might be planning other flavors and formats ;-) …

Receiving a loan from FACE has been a significant part of your journey.

Could you tell us more about how this support has impacted the development and growth of LS Cream? What were some of the key ways in which this funding helped you overcome challenges and achieve your business goals?

The FACE loan came right on time. We were in our growth phase and needed capital to pursue our momentum. The load helped us finance our production and marketing initiatives necessary to support our plans. The FACE loan contributed in our success to quintuple our sales at a time where traditional financing was challenging to obtain.

A Trailblazer in Business

Leadership and Woman Empowerment Within the ever-changing domain of information technology, Nkechi Nwafor-Robinson distinguishes herself not only by virtue of her more than two decades of professional experience but also by virtue of her diverse entrepreneurial endeavours and

Nkechi is in charge of the technical infrastructure of EDC, including its operations, support, maintenance, and modernization, in her role as VP of Technology Operations & Services and Cloud Transformation. Her leadership is marked

positions in prominent organizations and ascending to the ranks of authorship, podcast hosting, and motivational speaking, Nkechi has traversed a path

thinking and growth within the team.

the profound impact that transcends the confines of the business sector. Through assuming critical

by a combination of technical expertise and a strong commitment to fostering innovative

marked by fortitude and empowerment.

This article shines a light on Nkechi Nwafor-Robinson, highlighting her exceptional accomplishments and unwavering dedication to empowering individuals via her company, Empowered in My Skin (EIMS) Inc.

An Innovation Pioneer in the Fields of Information Technology and Leadership: The trajectory of Nkechi's career attests to her unwavering commitment to excellence. She has made an indelible influence on the IT industry via her career progression through top positions at illustrious companies, including IBM, Rogers Communications, TD Bank Group, and, most recently, Export Development Canada (EDC).

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Image courtesy - Nkechi Nwafor-Robinson

Women Empowerment

Beyond The Boardroom: Accolades for Milestones Achieved Nkechi stands out due to her complex persona. She is well-known not just in the business sector but also as a professional bodybuilder; in fact, she was named one of Inside Fitness's Hot & Fit Top 100 for 2021. Even when she's not training weights, Nkechi's inspiring demeanour

and positive attitude captivate everyone she meets. Her capacity to inspire and encourage is shown by her viral "You Matter" speech, which reached millions on sites like Goalcast. Her impact goes well beyond the typical sphere of influence, demonstrating that leadership has the potential to have a beneficial impact in a variety of circumstances.

A Personal Leadership Development Catalyst: Empowered in My Skin Empowered in My Skin (EIMS) Inc., which Nkechi founded in November 2014, embodies her dedication to helping people achieve their maximum potential. Personal leadership development is the main objective of this

grassroots organization, which hosts networking events, seminars, mentorship, coaching, and motivational presentations. Nkechi's commitment to making a difference goes beyond words; she is an active member of the community, actively participating in projects that promote development and leadership. The "Empowered in My Skin" podcast, presented by Nkechi, is an extension of this aim, giving a forum for debates that inspire and motivate.

Leadership is much more than just holding a position of authority, as Nkechi Nwafor-Robinson's story shows. Her dedication to self-improvement and emancipation complements her achievements in the information technology field. By launching Empowered in My Skin, she has given people a voice that goes beyond platitudes and helps them improve themselves. Leadership has the capacity to change lives, as Nkechi's narrative shows. However, empowerment is a process, not an endpoint; it is a means to an end—the realization of one's full potential.

Discover more about leadership and black women's entrepreneurship tactics through Nkechi’s podcasts and the services of her organization. Visit her official website here.

Discover CanadianSME Business Magazine's essential insights for startups and established businesses. Subscribe today for important information. Follow @canadian_sme on X for updates. Join our active community of business enthusiasts as we strive for success!

Image courtesy - Nkechi Nwafor-Robinson

Beyond Makeup: The Holistic Beauty Experience at

Cassandra Campbell's Studio Cassandra Campbell Owner, Cassandra Campbell Beauty + SKYN FACTORY

In a recent interview with CanadianSME Small Business Magazine, Cassandra Campbell shared the inspiration behind Cassandra Campbell Beauty + SKYN FACTORY, emphasizing the importance of creating a space dedicated to education, premium products, and a personalized experience.

Cassandra highlighted her desire to transform her studio into a sanctuary for self-care, leveraging her past negative experiences with service providers to shape a welcoming environment where clients feel valued and empowered. By integrating skin-focused makeup artistry with her expertise as a master esthetician, she aims to offer a holistic beauty experience that enhances clients' natural beauty while educating them on skincare and makeup. Cassandra's approach is deeply rooted in the belief that beauty and self-care practices should boost confidence and selfesteem, making her studio not just a place for physical enhancement but also a haven for emotional upliftment.

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Image courtesy - Beauty + SKYN FACTORY

Can you share with us what motivated you to open Cassandra Campbell Beauty + SKYN FACTORY and how your past experiences have shaped this venture?

I was motivated to open my studio space because I wanted to create a space where I could cultivate an environment centered on education, premium products, and delivering a personalized, high-touch experience.

Being able to meticulously craft an immersive experience is important to me. As the saying goes, people may not remember what you did or said, but they will always remember how you made them feel. My goal is to ensure that my clients feel truly heard, empowered, and ready to conquer the world after each session with me. The intention behind the studio was to create a sanctuary that provided solace from life's various challenges, by beinga space to unwind, "let down your hair," and understand that the time spent here is dedicated to self-care and is exclusively for them . It's a moment to selflessly be intentional about putting their well-being first and unapologetically prioritize themselves.

Interviews I share the philosophy that makeup can cover pigmentation and minor imperfections, but it cannot hide major texture or change your skin type. With this understanding, my mission is to celebrate and elevate the skin we are in. The makeup looks I create aim to reflect how we feel within – polished, glamorous, and unapologetically ourselves. This approach aligns with the broader goal of promoting positive and inclusive beauty practices, ensuring that my clients leave not only looking stunning but also feeling confident and comfortable.

As an award-winning makeup artist and master esthetician, how do you blend your expertise in makeup artistry with esthetic services to provide a holistic beauty experience at your studio?

Image courtesy - Beauty + SKYN FACTORY

My past experiences with service providers, specifically

negative ones, that fell short of my expectations played a pivotal role in shaping my vision for how I wanted my clients to be treated. Drawing from those experiences, I aimed to establish a warm and welcoming environment where clients feel safe and valued. The negative encounters highlighted the importance of creating a space that not only offers quality services but also prioritizes the emotional well-being of individuals, ensuring they leave with a positive and empowering experience.

Your studio offers unique treatments like the Skin-focused makeup artistry for weddings, photoshoots, and special events. What inspired you to introduce these innovative services, and how do they reflect your approach to beauty and self-care?

My inspiration for offering Skin-focused makeup artistry is rooted in the belief that makeup is only as good as the skin it's on. I firmly believe that taking care of your skin, your largest organ, is crucial for a seamless makeup application. The intention behind my work is twofold: makeup should enhance how you feel as much as how you look. By prioritizing skincare, we can achieve a smoother makeup application, requiring less product.

At my studio, I am able to seamlessly blend the two disciplines, creating a

unique and personalized approach for my clients. As a master esthetician, I incorporate skincare practices into my

makeup artistry sessions. This includes personalized skincare consultations to understand my clients' unique skin concerns and needs. By addressing

these concerns, I can create a flawless canvas for makeup application, ensuring that the final look not only looks stunning but also feels comfortable on the skin.

I view makeup as an extension of skincare, and vice versa, I believe makeup should enhance natural beauty while allowing individuality to shine through. The synergy between makeup artistry and esthetics allows me to provide a comprehensive beauty experience. In essence, my studio is a haven where clients can receive expert makeup services tailored to their unique features while simultaneously addressing and improving the health of their skin.

Interviews Education seems to be a key component of your studio's philosophy. How do you incorporate educational elements into your services, and why do you believe it's important for clients to be informed about beauty and skincare?

In a world where self-proclaimed "experts" flood social media with beauty advice, my commitment is to cut through the noise and offer clear, concise information that empowers my clients without overwhelming them. I understand that the beauty industry can be daunting, with a plethora of products and conflicting advice, making it challenging for individuals to make informed choices.

Creating an empowering environment for clients is a central theme at Cassandra Campbell Beauty + SKYN FACTORY. Can you elaborate on how the studio's environment and services contribute to boosting clients' confidence and self-esteem?

Absolutely, at Cassandra Campbell Beauty + SKYN FACTORY, my dedication to boosting confidence and self-esteem stems from meeting my clients where they are on their

unique journeys. In a world that often presents an unrealistic standard of "perfect people," I

My educational approach involves breaking down

recognize the prevalent issue of negative selftalk that many individuals grapple with. It's disheartening to witness the toll it takes on self-

knowledge, focusing on key principles and individualized recommendations. I offer guidance on how to discern quality products from trends, helping

I aspire to be more than just a makeup artist and esthetician; I aim to be an unbiased listening ear and an encouraging personal

importance of ingredient awareness, I can empower clients to make informed decisions about the products they incorporate into their beauty routines.

expectations, sometimes it becomes essential to have a supportive presence that sees individuals for who they truly are.

complex information into easy-to-digest nuggets.

During consultations, I simplify skincare and makeup

clients make choices that align with their unique skin needs and personal preferences. By emphasizing the

esteem.

cheerleader for my clients. I understand all too well that in a world filled with pressures and

This approach woven in with personalized consultations,

My goal is to create a supportive and educational atmosphere where clients feel comfortable asking questions and seeking clarification. Whether discussing the benefits of specific skincare ingredients or demystifying makeup techniques, I strive to ensure that every piece of information is accessible and relevant.

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education, transparency and positive reinforcement is a key differentiating factor at my beauty studio. By the end of each visit, I want my clients to leave not just with enhanced beauty but with a renewed sense of confidence that extends well beyond the studio walls.

Running a successful business entity has a prerequisite of able and astute business acumen and leadership. It is indispensable not just to employ and devise effective strategies for scaling up but also to manage risks efficiently. Plus, in the

Promoting a Diverse and Inclusive Framework:

man who stands as a beacon of transformative leadership – is none other than Alex Ihama.

Originally from Nigeria, Alex has expertly integrated

Executive Director. He uses extensive and transformational training programs to foster

current context of global business strategy, executive coaching, and inclusive diversity, one

a wide range of his skills as a global strategist, executive coach, highly sought-after speaker, and prolific author. His role as the Executive Director of the Canadian Congress on Inclusive Diversity & Workplace Equity highlights his dedication to cultivating fair and diverse corporate cultures.

To explore the extraordinary journey of this highly skilled individual whose impact extends beyond boundaries, read on.

One of Alex's primary responsibilities is leading the Canadian Congress on Inclusive Diversity & Workplace Equity in his capacity as

diverse, inclusive, and equitable business cultures in response to the critical need to

fight racism and prejudice. His knowledge and experience include a wide range of sectors, including businesses, universities, government agencies, and communities. Alex's work reflects a dedication to removing obstacles and creating pathways to a more inclusive

future by cultivating an atmosphere that goes across religious, cultural, racial, and socioeconomic lines.

Crafting a Global Influence: Alex Ihama has been an ardent advocate for social justice throughout his career, which has taken him from the halls of the Royal Bank and the Bank of Montreal to the global arena. In 1999, Alex began a profession that would eventually cover many countries and tackle men's mental health issues head-on. He is an expert in global strategy and brings a rare combination of knowledge to the table, drawing on decades of studies in philosophy, psychology, physiology, and spirituality to present a more complete picture of effective leadership and personal growth. What’s more, Alex makes a lasting impression on CEOs, legislators, pastors, academics, and professionals from all walks of life via his speaking engagements, training sessions, coaching programs, and consulting services.

Image Courtesy: Nosakhare Alex Ihama

Inspiration

Exemplifying Leadership via Literatrary Works: Alex's influence transcends his significant roles and permeates the domain of literature. He has authored "Welcome to Greatness: A Wakeup Call for Your Journey En Route to Fulfillment" and "The Mystique of Leadership: How to Become an Exceptional Leader." "Welcome to Greatness" is a treasure

trove of knowledge, providing inspiring anecdotes and methods for achieving achievement that inspire introspection, determination, and development. A handbook for future leaders, "The Mystique of Leadership" draws on real-life anecdotes and case studies to provide theoretical background and actionable advice. For people who are currently in leadership roles or looking to take their careers to the next level, these books are must-reads to help them grow

To learn more about Alex’s ongoing projects and services, visit his official website here.

personally and professionally.

Discover CanadianSME Business Magazine's essential insights for startups and established businesses. Subscribe today for important information. Follow @canadian_sme on X for updates. Join our active community of business enthusiasts as we strive for success!

My name is Alex Ihama and since 1999, I have gradually worked my way through many industries and arms of the governments to become one of Canada’s foremost speakers, coaches & consultants. For two decades, I have being helping Fortune 500 companies to achieve innovation leadership, strategic management, the transformation of culture and strengthening of competitive advantage through an inclusive diversity and workplace equity strategy, framework & roadmap.

image courtesy: Nosakhare Alex Ihama

With Canada’s aging population, the health of our economy hinges on recruiting a new generation into entrepreneurship

I love shopping local, but lately I’m troubled by a frightening trend: three quarters of my favourite

neighbourhood haunts are at risk of disappearing if we don’t recruit more young Canadians into entrepreneurship.

Over the next decade, 76% of small business owners in Canada will retire. The impact of these businesses can’t be overstated. Small businesses make up 98%

of Canadian employers, contributing 10.7 million jobs to the economy and making our communities vibrant. Their impact also extends globally—small

and medium businesses are responsible for over half of our country’s GDP.

The strength of our economy depends on how well

we can support retiring owners’ transitions out of the workforce while ensuring that there’s a new generation of business leaders ready to take up the torch.

Image courtesy - Futurpreneur

Karen Greve Young, CEO, Futurpreneur

To be sure, this so-called “succession tsunami” will ripple waves of change across Canada’s Main Streets. Some businesses will shutter, and in doing so, they will make way for new businesses to emerge.

Many others will change hands, inviting a new crop of business owners to contribute fresh capital and ideas for their growth and transformation.

The good news? We’re seeing that Gen-Z and millennials alike are increasingly interested in pursuing business ownership.

It’s a win-win situation, as long as we support the transition.

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Image courtesy - Futurpreneur

Here’s what it will take: The “side hustle” trend has re-

Emphasize acquisitions This generational changeover amounts to a $2 trillion opportunity for

the incoming generation of aspiring entrepreneurs who may have never previously thought of buying a business.

emerged with a new level of sophistication and maturity.

My organization is receiving and approving more applications from entrepreneurs who are

Acquisition enables new owners to contribute their own ideas and creativity, but involves a lot less trial and error than launching a business from scratch.

Meanwhile, financing can be more accessible for businesses with a proven track record.

Encouragingly, we’re seeing more programs tailored to supporting these transitions, including Futurpreneur’s new Owners Wanted initiative which helps young entrepreneurs explore the world of business acquisition and learn about funding options.

launching successful businesses alongside fulltime employment. I’m optimistic that this trend will help to reignite Canada’s entrepreneurial community, allowing business owners to test

Strengthen side hustles

the market and begin generating revenue before

Many younger entrepreneurs are rejecting the notion that they need to choose between staying in their day job and launching their dream business.

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potentially giving up job security.

Economy

Deliver accessible financing Rising costs and high inflation mean that —like everything—the cost of building or acquiring a business has gone up, too.

Loans that require equity to borrow against or a revenue track-record can be prohibitive barriers for many young founders, especially those from equitydeserving communities. Now, more than

Pass on critical expertise via mentorship The business owners who are retiring today have so much vital experience to offer the next generation.

ever, it’s vital that entrepreneurs have access to loans that take into account other indicators of repayment, like the

Having access to this experience by working with a

credit history of the owner.

that every founder we support gets matched with a

strength of the business plan and the

committed mentor can influence a new entrepreneur’s chance of success. It’s why my organization ensures mentor as well as financing. In fact, one survey found that 70 percent of small businesses that received mentorship survived more than five years— double the survival rate of non-mentored businesses.

In another survey, 92 percent of small business owners agreed that mentors have a direct impact on growth and survival. That’s because mentors can help new founders avoid costly mistakes and can offer mentees clarity on tricky strategic decisions, among other things.

My organization provides noncollateralized loans to young

entrepreneurs, and we’ve seen great success in offering accessible credit requirements to support entrepreneurs who would often not qualify for a business loan from a traditional lender.

Of the entrepreneurs we work with, 21 per cent say that they wouldn’t have been able to start a business without Futurpreneur’s support, while another 61 per cent say they would have had to move slower to launch their business, or would have sacrificed growth. These results demonstrate that accessible financing support is critical to ensuring that entrepreneurship is viable for the next generation.

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I believe Canada’s entrepreneurial support network—from lenders, to incubators, to educational institutions—is wellequipped to support the next generation of business owners.

Ensuring that this incoming generation is ready to answer the call will be the difference between growing Canada’s global competitiveness and thriving Main Streets across the country, or seeing a critical part of our economy decline. I know which outcome I’m hoping will prevail.

Karen Greve Young is the CEO of Futurpreneur, a national nonprofit dedicated to supporting entrepreneurs ages 18-39 with loan financing, mentorship and business resources.

B2B Marketplaces - Changing The Course of B2B eCommerce

By Jill Button,

President & CEO, ProcurePro Consulting

According to the 2023 B2B Marketplace 500 Report, by Digital Commerce360, “There’s never been a digital phenomenon that’s changed the course of B2B ecommerce faster than B2B marketplaces.

Sales on B2B marketplaces are growing annually nearly six times faster than all B2B ecommerce sales.”

Led by explosion of online buying caused by the pandemic, the traditional model of business to business (B2B) buying has forever been changed. No longer are B2B buyers content to sit in their

corporate office meeting in person with salespeople. According to a Gartner Survey, 83% of B2B Buyers prefer ordering or paying through digital commerce.

Most entrepreneurs, lacking the funding to hire full-time resources, must rely upon third party suppliers to help them run and grow their business.

Several years ago, when searching for suppliers to help with my website and lead generation, I spent countless hours and thousands of dollars with less-than-optimal results. As a procurement expert with over 35 years of experience, I knew there had to be a better way. Seeing a shift to online buying caused by the Pandemic, I saw my opportunity to launch the marketplace I had been dreaming of to help small and medium business entrepreneurs save precious time and money.

ProcureHub, is transforming the way business does business! A onestop-shop for B2B services, ProcureHub was launched in June 2023 at the SME Expo. Buyers can easily search for suppliers using our enhanced search and filter functions, find and compare services, read customer reviews, broadcast a request for proposal (RFP), connect with preverified suppliers, then checkout out online, quickly and securely.

For suppliers, ProcureHub is a great way to list and sell their services to a wide range of verified customers without having to build their own expensive eCommerce site. Suppliers can also access and respond to RFP’s and get connected to customers who are ready to buy. With no upfront fees, Suppliers don't pay until they’ve made a sale.

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Image courtesy - canva

My vision is to create a thriving ecosystem that provides entrepreneurs with access to essential services, including Accounting, IT, HR, Recruiting, Marketing, Legal, Telecom, Banking, Software and more.

The list of services will grow and expand overtime as we scale across Canada, the US and globally.

E-commerce

Top benefits of B2B Services Marketplaces for SMB Businesses:

1-

Increased access to a wide range of services: users can access a diverse selection of services from various providers all in one place, saving time and effort spent on searching for suppliers.

8- leverage the marketplace’s network of

2-

Cost savings: B2B services marketplaces promote competitive pricing and allow users to compare quotes from different suppliers enabling cost savings by finding the best value-for-money

9- into the same resources and capabilities

services.

3-

Time efficiency: users can streamline their procurement process. They can quickly find,

evaluate, and select suppliers without the need for exhaustive research and negotiations.

Access to specialized expertise: Users can suppliers to access specialized expertise and niche services that may be otherwise challenging to find.

Increased competitiveness: Users can tap as larger enterprises. This levels the playing field and enhances their competitiveness within the market.

10- marketplaces facilitate networking and

Networking and collaboration: B2B services collaboration among SMB users fostering business growth and expansion.

4- offer reviews, ratings, and feedback enable users Enhanced transparency and trust: Marketplaces to leverage this information to make informed decisions and choose reliable suppliers.

5-

Quality assurance: B2B services marketplaces quality control ensure suppliers meet essential

6-

Simplified vendor management: Instead of managing multiple suppliers, users can consolidate suppliers within the marketplace simplifying administrative tasks, like invoicing, contract management, and communication.

7-

standards reducing the risk of partnering with subpar providers and ensuring users receive high-quality services.

Scalability and flexibility: B2B services marketplaces offer a scalable solution, allowing businesses to easily find and onboard new service providers to accommodate their evolving requirements.

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Image courtesy - canva

B2B service marketplaces will play a critical role in the global economy by fostering efficient, transparent, and convenient connections between businesses. Such platforms streamline procurement processes, reduce costs, and save time, allowing businesses to focus on what’s critical, running and growing their business. To learn more about ProcureHub’s B2B Services Marketplace visit www.ProcureHub.ca.

Challenges that SME Owners Face and How to Address Them with Numbers SMEs are strong contributors to the Canadian economy. As of December 2021, there were 1.42 million Canadian SMEs, employing 81.1% of the total private labour force. Overall SMEs 1 contributed 50.4% to gross domestic GDP in 2019 .

Despite their prominence, SMEs face many

challenges, illustrated by the fact that between 2015 and 2019, 101,324 SMEs were created, and 90,151 SMEs disappeared annually on average. In this article we will focus on some of the most common challenges that SMEs owners face and how they can be overcome with quantitative

It is important to make use of financial software (e.g., QuickBooks Online, FreshBooks, Xero) to automate and streamline bookkeeping and accounting processes to have a current view of payables and receivables. That kind of visibility into financials will allow owners to keep budgeting to date, will provide visibility on reducing costs by

either negotiating better terms with suppliers or cutting back on unnecessary costs, and will provide more insight on efficient ways of doing business.

analysis.

Managing Finances and Funds Nothing can hold back a business more than

cashflow issues. SMEs tend to be more vulnerable than larger companies, especially if unable to pay employees and vendors, due to delayed client payments. There are several ways owners can monitor finances to ensure they have the necessary funds to run the business.

Start by creating a budget to plan for growth and monitor your financials. This could be built in Excel and include a monthly plan, forecasting income and expenses one year forward. Make sure to compare the budget forecasts against actual financials on a regular basis to stay on track.

[1] Statistics Canada, “Key Small Business Statistics 2022”, https://isedisde.canada.ca/site/sme-research-statistics/en/key-small-businessstatistics/key-small-business-statistics-2022

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Financing for smbs

One extra step in monitoring your cashflow is creating a 13-week cashflow model, forecasting cash receipts less disbursements on a weekly basis for 13-weeks ahead to ensure that the cash collected from your customers is enough to cover your expenses, such as payroll, materials, subscriptions, rent, etc.

Consider outsourcing certain financial tasks, such as tax returns preparation or budgeting and modelling, to experts who can help you navigate complex financial regulations and procedures.

Balancing Growth and Quality Closing a large client is a big win for an SME, but growth often comes with pain, and it can become difficult to manage the new client’s needs. One way to monitor growth for the business owner, is to define and keep track of their key performance indicators (KPIs) and their benchmarks values, and to make sure KPIs are maintained within reasonable limits. Some examples are making sure that there is enough capacity to do the work, that every project

or job can be executed with reasonable profit margins, that the inventory and required skills are in

Finding New Customers

place. All these metrics can be organized in an Excel or Power BI reporting dashboard.

It is important to create a robust and sustainable sales process that would bring both stability and

growth to your SME. A customer relationship management (CRM) software is an essential tool for managing customer data: to store customer information, to identify leads, to manage marketing campaigns. Some important items to track using a CRM is a count of won and lost opportunities in the month, as well as a sales

funnel to provide visibility into potential new deals, their win probability, and their size. The CRM can also help manage ongoing customer relationships, by keeping track of customer satisfaction or returning customers.

Image courtesy - canva

Sapling Financial Consultants is a boutique consultancy helping business owners and executives to make financial decisions with clarity and confidence by building professional financial models, data analytics and KPIs dashboarding, and due diligence services tailored to their business.

Shaping the Future of Startups and Venture Capital at DMZ In her interview with CanadianSME Small Business Magazine, Emily Smiley, the Director of Partnerships and Investor Relations at DMZ, shared her insights and strategies for navigating the challenging landscape of venture capital and startup development. With a focus on adapting to market trends and the economic climate, Emily underscored DMZ's commitment to strategic partnerships and sustainability in startups, emphasizing the importance of resilience and practicality in business models. She highlighted

As a passionate advocate of the Canadian entrepreneurship ecosystem, Emily has spent a great deal of time throughout her career advising entrepreneurs on early-stage business ideation. She has led business development campaigns and supported fundraising planning and execution in early-stage SaaS startups.

Emily brings a diverse range of experiences in high growth startups, corporate sector and public sector organizations. Emily studied at Queen’s University.

DMZ's unique approach to supporting diverse founders, providing tailored mentorship and resources to underrepresented entrepreneurs. Emily also discussed DMZ's initiatives to address the disproportionate allocation of venture capital to diverse-led startups, including inclusive support ecosystems and transparent success metrics.

Passionate about fostering a vibrant innovation ecosystem, she aspires to expand DMZ's global impact, prioritize diversity and inclusion, and build a holistic support system for entrepreneurs tackling real-world problems.

As the Director of Partnerships & Investor Relations, Emily is responsible for the development and execution of DMZ’s startup programs. Additionally, Emily connects startup founders with funders where she sees potential opportunities, helps startups with fundraising strategies, and works with investors in the DMZ network as well as connecting with new investors interested in the DMZ. Emily joined the DMZ team in 2017.

Emily Smiley

Director of Partnerships & Investor Relations, DMZ

73 - CanadianSME - February 2024 Image courtesy - DMZ

Interviews Given the significant downturn in global venture capital funding in 2023, as reported by Crunchbase, how has this affected DMZ's approach to securing and managing partnerships and investments?

DMZ has historically adjusted our approach to partnerships, investments and startups broadly based on the state of the ecosystem.

Our team is proactive in staying informed about market trends, economic forecasts and the evolving needs of startups and investors.

While it is certainly true that global venture capital funding in 2023 declined, it was not too different from pre-pandemic years. With this in mind, we’ve been able to blend old and new strategies in our approach:

With early-stage funding experiencing a dramatic decline of over 40% year over year, what specific initiatives or programs has DMZ implemented to support early-stage entrepreneurs, particularly in this challenging financial climate?

DMZ is working to create the next generation of camel startups companies that are resilient,

resourceful and balanced above all else.

Image courtesy - canva

Strategic partnerships: Developing deeper, more strategic and diverse relationships with corporations and groups that align with our mission and our founders. This allows us to explore the potential for more meaningful collaborations with our startups to drive innovation.

Sustainability: Prioritizing startups developing sustainable and resilient solutions that address essential needs or have long-term viability. Startups need to be agile and respond to market conditions — a vital skill in the changing tides of technology.

Practicality: Coaching our founders to focus on achieving tangible milestones and demonstrating traction rather than the previously popular startup advice of “growth at all costs.”

Investment readiness: Providing additional support to help our startups with fundraising readiness. This includes helping them refine their business models, articulate their value propositions and develop compelling pitches to attract potential investors.

We’re supporting our startups to live by a strong value proposition, which means working with them to refine their products and solutions to serve their end users better. A core pillar of DMZ programming is to ensure founders prioritize quality and focus. By giving founders the resources, one-on-one support and mentorship to grow with intention and not get caught up in startup hype, they are set up for success and can thrive through uncertainty.

We are intentional and strategic about the resources and programs that we offer our network of founders. We have doubled down on initiatives designed to ensure founders are set up to succeed during turbulent times. This includes:

Interviews DMZ Connect: A program that fosters collaboration between our corporate partners and startups to spark opportunities for pilot projects and partnerships.

Fundraising support and financial management tactics: Support with fundraising strategies, pitching, curated introductions to DMZ’s network of investors and financial management.

Grant support: Support identifying startup grants and subsidies and grant submissions with experienced subject-matter experts.

We're encouraging founders to be selective in what they

Our portfolio at DMZ is one of many success stories of the value created by diverse founders. Businesses founded by women deliver more than twice as much per dollar invested than those founded by men, making them better investments for financial backers.

Plus, we know that diverse founding teams

create better business outcomes for investors, resulting in 30% higher multiples of invested capital for investors.

Our team provides curated fundraising

support for diverse founders to help them navigate the common barriers, unconscious biases, and pitfalls they face.

do. Cut out distractions and be intentional in the events they attend, establish a strong rapport with partners and investors and cut back costs to show a healthier burn rate, focusing on metrics that matter most.

A recent BDC report highlights the lack of diversity at senior levels in the private asset industry and the low percentage of venture firms owned by women, Indigenous people, and visible minorities. In your role, how are you addressing these diversity challenges within DMZ and the broader venture capital ecosystem?

‘Equity over Everything’ — one of our founding values at DMZ, recognizes that not all founders begin at the same starting level. We don’t provide every founder with the same level of support, we provide them with the right support.

DMZ provides additional streams of programming to underserved founders, including Black and women entrepreneurs. This means they receive additional opportunities and specialized support like grant funding, mentorship opportunities, a peer network, exclusive events and connections to investors dedicated to supporting underrepresented entrepreneurs – on top of the standard programming all DMZ founders get.

DMZ engages and advocates within the venture capital ecosystem on the benefits of investing in and supporting diverse founders. While our investor network is broad to help all of our startups connect with best-fit investors, we dig in deep to cultivate relationships with firms already aware of the valuable opportunity presented to them in funding diverse founders.

Image courtesy - canva

Diverse founders routinely underrepresent their projections and approach fundraising from a more risk-averse position. Our additional coaching and support and ability to connect diverse founders with a network of investors we know understand their potential help us to support our founders in driving better outcomes.

Interviews Considering that diverse-led startups in Canada and the U.S. are receiving a disproportionately small fraction of venture capital funding, what steps is DMZ taking to ensure these startups gain better access to funding and support? How do you measure the success of these initiatives?

As someone passionate about fostering a vibrant and inclusive innovation ecosystem, what are your aspirations for DMZ in the upcoming years, especially in the context of empowering entrepreneurs and innovators to solve real-world problems?

In addressing the disproportionate allocation of venture capital funding to diverse-led startups in

My aspirations for DMZ are centred around fostering a dynamic ecosystem that cultivates creativity,

Canada and the U.S., DMZ has implemented strategic initiatives to foster a more equitable and inclusive entrepreneurial ecosystem.

Step 1: Inclusive Support Ecosystem

resilience and sustainable solutions. I believe DMZ will continue to catalyze positive change, empowering entrepreneurs to tackle real-world problems and contribute to a more sustainable and inclusive future in this ever-changing world.

DMZ has proactively cultivated partnerships with

Global impact:

corporations, government entities and philanthropic organizations committed to promoting diversity in entrepreneurship. This multifaceted approach ensures that diverse-led startups gain access to funding and benefit from a comprehensive support network, including mentorship, resources, and opportunities typically reserved for a more privileged few.

Expand our reach to support entrepreneurs and innovators further worldwide, fostering a global network of problem-solvers in collaboration with international partners, governments, and organizations to address pressing global challenges.

Diversity and inclusion:

Step 2: Tailored Mentorship Programs Recognizing the crucial role of mentorship in startup success, DMZ has instituted specialized mentorship programs explicitly designed for diverse founders.

These programs guide in refining business models,

articulating value propositions, navigating the intricacies of fundraising, and addressing the unique challenges underrepresented entrepreneurs face.

Diversity is at the heart of our program design, from ensuring diverse representation in our selection committees, recruitment, onboarding and delivery to help founders overcome barriers.

Step 3: Transparent Success Metrics To assess the effectiveness of these initiatives, DMZ relies on transparent and tangible success metrics.

Beyond financial benchmarks, the organization tracks the growth and accomplishments of startups within its programs. Metrics include monitoring not only the amount of funding secured but also the development of sustainable business models, job creation and the overall impact of the startups within their respective industries. DMZ utilizes this information to assess the overall growth of the companies as well as the impact they create.

Prioritize diversity and inclusion within our community and our programs at all levels and in all areas, ensuring that a broad range of perspectives contributes to the future of innovation.

Technology for good: Cultivate founders and companies with ambitions to build globally scalable companies that consider the benefits of social impact in critical areas that directly address real-world problems.

Holistic support ecosystem: Provide comprehensive anywhere-anytime global support to founders everywhere. Going beyond today’s startup offerings, enhancing mentorship, funding, legal guidance, etc., in collaboration with industry experts and professionals to offer specialized knowledge tailored to each entrepreneur's needs.

Ecosystem building: Forge a network of strategic partnerships with investors, governments, and corporations to facilitate knowledge transfer, pilot projects, and investment opportunities to ensure tomorrow’s greatest innovations.

Image courtesy - Ladies Love Units

to innovate in the medical wig industry and extend their reach to cancer treatment centers, continuing their mission of providing high-quality, personalized hair solutions and bringing hope to those facing hair loss.

Your personal journey and partnership are both inspiring and unique. How have your individual backgrounds in

Kevin and Willie, Co-Founders of Ladies Love Units

Blending Art and Compassion: The Success Story of

Ladies Love Units

In their interview with CanadianSME Small Business Magazine, Kevin and Willie, the co-founders of Ladies Love Units, shared their inspiring journey and the unique fusion of their backgrounds in cosmetology and interior design that has contributed to their brand’s success. Willie’s early experiences with doll hairstyling laid the groundwork for his cosmetology career, while Kevin's understanding of color theory greatly influences their custom color services. Their combined talents and shared passion led to the creation of Ladies Love Units, a business venture deeply rooted in their artistic pursuits and desire to impact lives positively. They described the emotional journey of creating the first wig for Kevin’s sister, a pivotal moment that shaped their company's ethos of empowerment and compassion. Ladies Love Units is renowned for its custom, handcrafted wigs, tailored to each client's unique needs, especially those undergoing medical treatments. The support from a FACE loan enabled them to expand their business, establishing a flagship store and gaining legitimacy in their field. Looking forward, they aspire.

77 - CanadianSME - February 2024

cosmetology and interior design contributed to the success and distinctive approach of Ladies Love Units?

Our journey toward success has been subtly shaped by the

unique tapestry of our backgrounds. In the tender years of childhood, Willie's innocent play with dolls unknowingly laid the foundation for his illustrious cosmetology career. His delicate hands, meticulously cutting the

long tresses or transforming straight hair into playful curls, were early manifestations of a passion that would later become the cornerstone of our artistic endeavors at LLU. Similarly, Kevin's profound understanding of colour theory emerged as a hidden gem, an invaluable skill seamlessly transferred into the vibrant tapestry of custom colour services that define our offerings at LLU today. His comprehension of hues and tones, once an unassuming asset, now contributes to the kaleidoscopic beauty we bring to our clientele.

Interviews When we embarked on the journey of Ladies Love Units, it was not merely a business venture; it was an extension of our souls. LLU became the embodiment of our shared passion, an ode to the desire to carve out better lives for ourselves and those we touch with our craft.

Individually, we stand as formidable forces, each possessing unique strengths and talents. However, it is in our partnership, fueled by a shared vision and an unwavering commitment to excellence, that we find unparalleled proficiency. The symphony of our talents harmonizes to create an orchestra of success, where each note contributes to the grandeur of Ladies Love Units.

Our journey has been more than a business endeavor; it has been a testament to the power of collaboration, resilience, and the pursuit of excellence. The success of Ladies Love Units is not just a reflection of our individual achievements but a testament to the magic that happens when two hearts beat in unison toward a common goal. Our partnership, forged in the fires of ambition

Image courtesy - Ladies Love Units

and fueled by the desire to excel together, is the driving force behind the triumphs that have adorned the path of Ladies Love Units.

deeply moving. What were the emotions and challenges you faced while creating the first wig for Kevin’s sister, and how

Image courtesy - Ladies Love Units

The origin story of Ladies Love Units is

this experience shaped the ethos and vision of your company?

The genesis of Ladies Love Units was a heartfelt response to a poignant moment

in our lives—a testament to love and an ardent desire to empower our sister during her challenging times. Simultaneously, Kevin and I found ourselves standing at life's crossroads. Dissatisfied with the monotony of a purposeless job, Kevin would often find solace in tears while sitting at his desk, cognizant of my twin sister's battle against illness. It was a stark realization that life demanded more.

In a courageous leap, we relinquished the unfulfilling job and birthed LLU. Witnessing our sister's pure joy and newfound confidence became a transformative moment, igniting a profound sense of duty within us. This duty surpassed familial ties, urging us to share our artistic gifts with the world—one custom unit at a time. The smiles that consistently grace the end of our appointments echo stories of triumph over adversity, serving as a heartfelt reminder to persevere and never abandon our dreams.

Interviews Ladies Love Units is known for its handcrafted, one-of-a-kind wigs. Could you elaborate on the process of creating these custom units, particularly how you ensure they meet the specific needs and preferences of each client, including those undergoing medical treatments?

Looking forward, what are your long-term goals for Ladies Love Units? Are there any new initiatives, product innovations, or expansions you are planning to further enhance your mission of providing high-quality, customized hair solutions?

Every handcrafted unit at LLU is a testament to our personalized approach, born from a meticulous

In the tapestry of 2024, we envision weaving profound changes into the fabric of the medical wig

consultation with our team—whether in person or virtually. This intimate session delves into the intricacies of our clients' lives, allowing us to tailor a unit that seamlessly integrates with their unique requirements. The client's lifestyle becomes a guiding force, influencing the type of unit we bring to life—be it a removable one for nightly ease or a securely affixed one for those who prefer continuity.

In our bespoke creations, the client wields the power to dictate every aspect—length, density, texture, and color—ensuring that each unit is a

singular masterpiece. For those grappling with hair loss due to medical treatments, our compassionate recommendation often aligns with recreating a unit mirroring their original hair. This not only restores confidence and pride but also infuses a newfound

industry. A heartfelt commitment propels our mission—to illuminate the path for those grappling with hair loss, revealing alternative avenues beyond conventional choices. It's a narrative that transcends mere business aspirations; it's about kindling hope and awareness. Our resolve is to initiate the groundwork, becoming storytellers of resilience, sharing the tale of our medical glue-less

units. With unwavering purpose, we aspire to extend our reach to a sacred space—a new LLU haven within the compassionate walls of a cancer treatment center. It's not just about expanding a business; it's about extending a hand, offering solace, and reshaping the narrative for those

navigating the challenging journey of medical hair loss.

vitality, offering hope and an extra dose of resilience during challenging times.

With profound gratitude as beneficiaries of a loan from FACE, we've turned dreams once deemed impossible into tangible realities. The pinnacle of our achievements materialized with the establishment of our flagship store, LLU&Co. From a humble 150 sq/ft room, we now proudly own the entire store, a testament to our journey of growth.

The FACE loan not only facilitated transformative renovations, breathing new life into a location stagnant for 15 years, but it also bestowed upon us a sense of legitimacy. No longer do people or prospective clients question our worth; instead, they recognize and respect the ground we stand on, affirming the impact of FACE's invaluable support.

Image courtesy - Ladies Love Units

As recipients of a loan from FACE, how has this support influenced the growth and development of Ladies Love Units? What were the pivotal ways in which this funding helped you in expanding your product range and services?

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