As communities across central and eastern Alberta undergo an economic shift away from coal-fired power generation, the role of small business is at the forefront of building new opportunities and managing the recovery.

The transition is part of a Federal initiative to phase out coal-fired electricity by 2030. In Alberta, this means that 12 of the 18 coal-fired power plants will either shift away from coal or shut down over the next decade.  "A very ancient quote says, 'The only constant in life; is change' ", says Doray Veno, Executive Director of the Hanna Learning Centre. "But once you make internal peace with this concept, the opportunities are endless."

This is my first opportunity to share with you my thoughts, dreams, challenges, and ambitions, and I hope you will share back yours with me.

While new to the Community Futures Network of Alberta, I have been ‘in the field’ guiding local Community Futures offices and programs in Western Canada for more than 30 years.

The past decade has been remarkable. From the depths of recession, shifts in historic resource industries and natural disasters, to record population growth and the entry of new industries, one thing has remained unchanged: our approach to rural economic development.

Breaking down the Essentials

Wendy Holloway specializes in facilitating transformation in human behaviour using techniques in Applied Neuro-science, which she says work exceptionally well for clients that struggle with varying disabilities.

By finding ways to increase a client’s confidence, Wendy tries at the same time increasing their effectiveness and productivity in business growth.

Building a business can mean different things to different people but according to her, the essential elements remain the same and can be tackled very simplistically while still accomplishing the intention of a business plan.

Purpose-driven entrepreneurs are the backbone of healthy, diversified communities.

Starting a small business in a rural community is a lifestyle choice and can provide you the opportunity to follow your passion and find freedom and flexibility. Up until now, women, Indigenous, and young entrepreneurs have been underrepresented in the Canadian small business community.

At Community Futures, we are working to change this by supporting and inspiring a new wave of entrepreneurs. We are not a bank, and we believe every small business, regardless of size or impact, should have access to our purpose-built financing and training options.

Do you have a business idea that has been burning in the back of your mind?

The time is right to join the thousands of Albertans following their passion and finding opportunity in a rural small business community.

Here's a rundown of the most common mistakes that can prove detrimental to new entrepreneurs, and some solutions to help you in your business planning venture:

The success of an entrepreneur comes from proper planning, persistence, and discipline. Are you ready to build your future and be part of a growing community of rural 'big thinkers'?

Timing is everything

Self-employment is leading Alberta job growth. According to this article, nearly 410,000 Albertans are now self-employed. That's an increase of 43,000 from a year and a half ago. The number of people working as employees, meanwhile, grew by just 7,000 over that same period.
Every day entrepreneurs are starting and growing great businesses in rural Alberta. Driven by a desire for more freedom and flexibility, they are carving out a solid financial future for themselves, their families and their communities.

Do you live in a rural community and have a viable business idea or want to expand your current business, but don’t know how to get funding? We can help!

Securing funding for a start-up or expansion can seem discouraging and daunting. Community Futures will help guide you through the process and become the successful entrepreneur we know you can be! There are many reasons why small businesses need funding such as start up costs, equipment, inventory, staffing, among many other expenses. Community Futures offers flexible and affordable small business loans for entrepreneurs in rural communities to help with those costs.

Don’t know where to start?

The first part of securing a loan is understanding the 5 C’s of lending. These are the elements that lenders consider when approached by a borrower.

A growing momentum is emerging in rural Alberta. Entrepreneurs from every region of the province are harnessing the power of purpose to energize their communities, lead their companies and to connect with new and emerging markets.

Diversification is crucial to the health of smaller communities

Entrepreneurship is growing in Alberta fueled, in part, by rural entrepreneurs who are accelerating change and growth in their communities.

Interest in small business ownership and entrepreneurial investment is on the rise, and as a network of developmental lenders, Community Futures Alberta is ready to keep pace.

Part two in a series exploring some of the complex issues and ideas facing our communities.

Guest Article by Ken Coates
Canada Research Chair in Regional Innovation

Technological Revolution

Rapid and sweeping technological change is upon us – and rural and small town Canada is not well-situated to capitalize on the opportunities and respond to the challenges.  The innovation economy is decidedly tipped to cities and urban areas, as is the overwhelming majority of the country’s scientific and technological research and development.  Rural and small town Canada is being left behind – seriously so – in the most significant transition in recent history.  Improvement in medical technologies have the potential to revolutionize rural health care, with comparable transformation possible in K-12 education as well.