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
  Read more …

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.

ECommerce has opened a whole new world for small businesses when it comes to selling their products and services. While eCommerce may fit your business model, and you may be able to reach customers across the globe, it creates a lot of competition for your business. It's estimated that there are 12 - 24 million eCommerce websites worldwide. This means that you not only need to be found within a crowd, but you also need to prove that your product is the best option. 

It is important to plan ahead and get a leg up on your competitors for your eCommerce business to be successful. So, to get that necessary head start, here are 5 things you should know before getting started with eCommerce.

Read the article here: https://www.canada.ca/en/prairies-economic-development/campaigns/success-stories/alberta/rural-businesses-support-community-futures-covid-19-pandemic.html

Check out the success video here: https://www.youtube.com/watch?v=Ewv1ir5avyI

As part of the Canada Digital Adoption Program, the Government of Canada has partnered with Business Link and Digital Main Street to deliver the Grow Your Business Online grant to small businesses across Alberta.

Eligible businesses will receive a micro-grant of up to $2,400 to help with costs related to adopting e-commerce, with support provided from a network of E-commerce Advisors. The Grow Your Business Online Grant will provide small businesses in Canada with $1.4 Billion in grants. Please note, the grant is administered by Business Link and is not administered by Digital Main Street.