(Red Deer) On December 11, a group of eager presenters and stakeholders gathered via Zoom to watch final ‘pitches’ from Catalyst Incubator learners and ask questions to challenge their assumptions.

CAEP (Central Alberta Economic Partnership) is excited to offer the second workshop in our Business Support Network series to help employers attract, recruit, retain, and build strong teams.

The Catalyst Incubator, funded through the Central Alberta Innovation Network (CARIN) and provided by Community Futures Central Alberta, are proud to announce both Fall and Winter dates for its unique, cohort-based program helping to foster new ideas, make critical connections, and help start-up businesses and entrepreneurs in Central Alberta. The Catalyst Incubator focuses on supporting start-ups in manufacturing, agriculture, technology, energy innovation, and more.

Community Futures Central Alberta is seeking enthusiastic and dedicated individuals to join our Board of Directors!

As a Board member, you will have the opportunity to make a positive impact on the economic development of Central Alberta. Community Futures Central Alberta provides loans, business training, and support services to entrepreneurs and small business owners in our communities. We are looking for individuals who are committed to helping local businesses thrive and grow.

Small business loans can be the key if you're dreaming of starting your own business or expanding your current operations. But navigating the lending process can be overwhelming, and it's essential to understand what lenders are looking for before you apply. 

That's where the 5 Cs of lending come in - character, capacity, capital, collateral, and conditions. These five factors can make or break your eligibility for funding. We’ll explore each component in detail, providing essential information and tips to simplify the loan application process and increase your chances of approval. 

Whether you're a seasoned entrepreneur or just starting, this guide will help you navigate the lending process with confidence and ease.

Running a small business can be a life-changing experience, providing personal fulfillment and financial security. This is especially true for people with disabilities, who face additional challenges in finding work and carrying out daily tasks. There are approximately 6.2 million people with disabilities in Canada, and many want to become small business owners to build a sustainable future for themselves.

People with disabilities can benefit from owning a business in various ways, including schedule and workload flexibility, the ability to choose their clients, and the opportunity to leave a legacy. Also, entrepreneurship allows these individuals to become self-sufficient, make meaningful connections with others, and give back to the community.

With new businesses popping up and old ones being restored, it’s safe to say the entrepreneurial spirit is alive and well here in Alberta. One demographic, in particular, demonstrates a strong desire to enter the world of entrepreneurship – youth.

Studies have shown that over the past ten years, the number of individuals involved in entrepreneurial endeavours grew by 50%, with young entrepreneurs (age 18-34) representing a healthy chunk of that number. The global events over the past few years have many young people re-evaluating what their idea of success is, and how they plan to get there. The pandemic shone a light on a lot of flaws in the long-standing “9-5” system and has inspired many youths to want to work for themselves.

Unfortunately, women entrepreneurs do not have access to capital and the same resources as male-led businesses. For example, startups created by women receive much less funding than men from investors. A big reason for this is that there can be biases these women have to face when they meet with venture capitalists.

Women also face challenges, such as:

• Many industries are not women-friendly
• They lack social and institutional support
• And with fewer women business owners, they can’t access professional networks
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The Indigenous economy is continuing to grow rapidly. Indigenous entrepreneurs are creating businesses at nine times the rate of non-Indigenous Canadians. However, even with their projected growth, according to the National Aboriginal Capital Corporations Association (NACCA), Indigenous entrepreneurs face challenges that other businesses don’t.

Many Indigenous entrepreneurs come from lower-income situations, limiting their ability to build the equity needed to invest in a business. Also, many Indigenous communities aren’t equipped with the basic infrastructure to support businesses, such as reliable internet and working spaces.