Educate, Encourage, and Support

By Mary Whitrow

IN 2018, the UPEI Faculty of Business launched the Grant Thornton – UPEI Entrepreneurial Playground, an initiative in partnership with Grant Thornton which aims to educate, encourage, and support entrepreneurs at UPEI through classroom seminars, mentorship, and networking opportunities. Matthew Pauley, Director of the Grant Thornton – UPEI Entrepreneurial Playground, has been facilitating these initiatives in partnership with Ryan Innis, Chartered Professional Accountant and Principal with Grant Thornton Charlottetown. I had the chance to sit down with Ryan to discuss the progress that has been made on the Playground in its first year of existence. just accounting advice, we are business advisors, focusing on the whole individual or business to help them with whatever they need. (L-R) Bruce Donaldson, Iker Zulbaran, Chris Gallant, Myrtle Jenkins-Smith, Kathy O’Rourke, Ryan Innis, Rudolf Al Aswad, Jurgen Krause, UPEI President Alaa Abd-El-Aziz.

Why has Grant Thornton Charlottetown committed to supporting entrepreneurship at UPEI in this way? We want to support growth in the Island economy. We are seeing the global trend of changing workplaces, economies, and industries, and changes in the way people live. Many people are going out on their own, trying to create opportunities for themselves in PEI. At Grant Thornton, we see our role in this process as one of helping future entrepreneurs and business people to build their business from the ground up; to get it right the first time. The University is the perfect place to carry out this mission. Why is it so important to help entrepreneurs at the earliest stages of their entrepreneurship journey? It’s so much easier to grow a successful business if you start with a strong base. Getting it right the first time can mean fewer headaches down the road and an easier path to profitability. Many people attempt a DIY approach with their startup because the cost of professional help can be prohibitive. We wanted to break down that barrier a bit so that we can help these entrepreneurs succeed in the long run. Much of the help I provide is based on the knowledge that comes with experience. Helping them realize their inputs must not exceed their outputs, finding their breakeven point, and getting to a business model that works financially. We are giving more than What impact have you seen in the past year from your work with the Grant Thornton – UPEI Entrepreneurial Playground? Speaking to a whole class was valuable because I could connect with so many students and help them understand what to do and where to go when they have an idea. I also met with three students individually through the semester, who came forward after participating in the seminars, all at different stages of their business plan. The fact that three people came forward for help after hearing me speak showed me that the Playground is making an impact on these students, and helping them take the next steps in their entrepreneurship journey. We are pleased with the progress the Playground has made and we are excited to continue and grow our support over the next years. Any words of wisdom for those thinking of diving into the world of entrepreneurship? I want new entrepreneurs to know that you don’t need a million dollars to start a business; you just need your own time in most cases. Many of the new entrepreneurs we see have ideas that centre on solving old problems in new ways, but your idea doesn’t have to be the next Uber. Anyone can be an entrepreneur if they are willing to work hard and be clever about their business.