Scotiabank News Release ************************* Scotiabank has taken to the highway with its Small Business Banking initiative and will visit North Bay on July 4th, 2008 as part of a five month cross-country tour to deliver Scotiabank’s Small Busin
Scotiabank has taken to the highway with its Small Business Banking initiative and will visit North Bay on July 4th, 2008 as part of a five month cross-country tour to deliver Scotiabank’s Small Business Banking tools, experts and services to small businesses who want to ‘Get Growing’. It’s all part of the Bank’s ‘Get Growing to a Million’ campaign to help small business owners identify strategies to grow their businesses.
“We’re on more than a road trip,” said Kyle McNamara, Managing Director of Small Business Banking, Scotiabank. “We’re on a mission to help Canadian small business owners grow to the next level. Small business is clearly an important factor in the North Bay economy and we are looking forward to meeting and working with these small business owners and understanding their unique business concerns and opportunities.”
According to The Ministry of Small Business and Entrepreneurship, small and medium-sized enterprises are the driver of Ontario’s economy, representing 99 per cent of all businesses and contributing over $250 billion in economic activity in this province. More than half of Ontarians work in this sector, says the Ministry, and these businesses create the majority of new jobs.
“Ontario’s small and medium-sized businesses are the engine of our economy. They drive innovation, investment and job creation in every part of the province,” said Minister of Small Business and Entrepreneurship, Harinder S. Takhar. “Ontario’s economy is strong and vibrant because of the hard work and dedication of our entrepreneurs.”
According to the City of North Bay’s Office of Economic Development, 97 per cent of privately owned North Bay businesses are small and medium size enterprises (SMEs) with approximately 600 new SMEs registering their businesses annually. There is a steady increase in SME start up and expansions in North Bay, with the most prevalent growth segment being the young entrepreneur. The increase in young entrepreneurship can be attributed to the heightened awareness and access to support programs such as the Northern Ontario Heritage Fund Corporation, the Canadian Youth Business Foundation and Summer Co. Young entrepreneur start ups now account for 2 per cent of SME growth.
While in North Bay on July 4th the Scotiabank ‘Get Growing to a Million’ RV will be parked at the Chamber of Commerce located at 1375 Seymour from 9:30 a.m. until 2:30 p.m. The RV will be open for interested local small business owners, local elected representatives and media. Scotiabank Small Business advisors will be on hand.
“The ‘Get Growing to a Million’ campaign builds on Scotiabank’s existing foundation of delivering expert advice, information and services that help small business owners improve their bottom line,” said Gilles Paquette, Scotiabank Manager, Small Business. “Our advisors are ready to work with small business owners in North Bay to help them grow to the next level – whether it’s their first million or their next million in revenue. We have the tools, advice and expertise to help them get there.”
In addition to the cross-country tour, the Scotiabank ‘Get Growing to a Million’ campaign includes a new Scotiabank Small Business website, www.getgrowingforbusiness.com, and an online challenge offering $50,000 in cash prizes, all aimed at helping Canadian small business owners get to the next level of success in their businesses.
The touring RV will make dozens of stops across the country to give local small business owners an opportunity to “test drive” these Small Business tools, visit the new ‘Get Growing for business’ website, as well as discuss their growth plans with a Scotiabank Small Business advisor.
“Our experience with growing small businesses suggests the most successful small business owners are those who have effectively planned their business concept, from market research and human resources planning to cash flow forecasts,” said David Wilton, Director, Small Business Banking for Scotiabank. “Our Small Business advisors have unique business planning and financial diagnostic and check-up tools to offer. We have also made a number of these resources available on our new ‘Get Growing for business’ website, available 24/7 for the convenience of small business owners. In addition, because we are so confident in the potential of these tools, we are bringing them directly to small business owners in communities across the country,” he concluded.
The ‘Get Growing for business’ website serves as an important vehicle to deliver Scotiabank’s Small Business resources. Designed as an interactive on-line community the site offers small business owners a place to: • participate in discussion forums focusing on current economic and business themes and their impact on small business; • ask an online Small Business advisor a question; • network with other small business owners identified by business segment and; • access tools, including Blueprint for BusinessTM Check-up tool , ScotiaPlan Writer for businessTM`Planning tool, Scotia Starting Line for businessTM Check-up tool, and its newest, Get Growing for business Sales and MarketingTM tool.
In the spirit of encouraging and spotlighting entrepreneurialism, the new website will feature ‘The Get Growing to a Million’ contest. Website visitors are invited to submit a written or video entry explaining how $20,000 would help them get their business to the next level. There’s a chance to win a grand prize of $20,000 or one of six regional prizes of $5,000.
“The ‘Get Growing to a Million’ tour, website, and tools have combined elements that can help significantly increase opportunities for small businesses. We are looking forward to taking them out to local communities and showing owners how we can make them work for their businesses,” said McNamara.
