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New Entrepreneurs Rising to the Challenge: Overcoming Hurdles in Small Business Ownership

Celebrating Small Business Week

From October 21 to 25, communities will come together to acknowledge and celebrate Small Business Week, a critical period dedicated to supporting local ventures that play an integral role in the fabric of the Saanich Peninsula. Morgan Shaw, the executive director of Sidney Business Improvement Association (BIA), emphasizes the importance of these enterprises, asserting that they are "vital" to the local community.

"When you traverse our streets, it’s the small boutiques, unique cafes, and talented local artisans that contribute significantly to Sidney’s charming, friendly atmosphere. These businesses infuse character into our community, making Sidney a beloved destination for both residents and visitors," Shaw noted.

Growth in Local Business Landscape

In the last year alone, Sidney has welcomed more than 24 new small businesses, according to Shaw. One notable addition is Smor Scandinavian Bakery, founded by Leah Hayward. After feeling burnt out from her previous career, Hayward discovered her passion for baking and decided to turn it into a thriving business when she opened the bakery in July.

Challenges Faced by New Business Owners

Despite her enthusiasm, Hayward has encountered significant challenges in the early months of her business journey, primarily due to her lack of prior experience in business management. "I underestimated the level of work and the number of hours that owning a small business truly involves. Balancing the immense workload while enjoying the community’s excitement and support has been a daunting task," she reflected.

In addition to the learning curve, Hayward has struggled with finding experienced staff and managing high labor costs. However, she shared, "I’ve been fortunate to find employees who may lack experience but possess a fantastic attitude and a genuine willingness to learn."

Hayward highlights the difference between merely dreaming about a business and actually making it a reality. For those on the fence about starting their own ventures, her encouragement is simple: "I’d say go for it. It’s the best method to learn about yourself, your strengths, and your weaknesses so you can work on them."

Fig caption: Morgan Shaw of Sidney BIA noted that businesses report increased foot traffic. Harry Corro/Peninsula News Review

Valuable Support for Entrepreneurs

To navigate these challenges, Hayward found that one of the "best resources" available is the Futurepreneur program, a free initiative supported by the Government of Canada that caters specifically to entrepreneurs without existing business experience.

"I’m under 40, so I accessed both funding and various business idea development training sessions through the Futurepreneur program," she explained. "Securing startup capital was a game-changer for my business, and I truly value the program’s resources."

In addition to programs like Futurepreneur, the Sidney BIA provides numerous forms of support including marketing assistance, business promotion, networking opportunities, and educational workshops. They actively collaborate with local government and other organizations to ensure that businesses can access the tools they need to succeed.

Hayward also believes that forging strong community connections is essential for small business survival. "The success of a business like mine hinges on the quality of the relationships I can cultivate within the community," she commented. Fortunately, Hayward feels fortunate to be part of a community that has "enthusiastically embraced" her and her bakery.

Positive Signs for Local Economic Growth

Shaw, from the Sidney BIA, has observed that the association has been receiving "plenty of positive feedback from business owners and customers" via surveys and evaluations conducted alongside their business development program, which is operated in partnership with the Town of Sidney.

"We’re witnessing increased foot traffic, robust sales, and a steady influx of repeat visitors—all positive indicators for local economic growth. The truth is, Sidney is on the rise," she said.

A Flourishing Small Business Scene

The past year has not only seen the rise of Smor Scandinavian Bakery but also an array of new businesses taking root in Sidney, including:

• Jacks On The Water
• Dot. NATURALS
• Waypoint Insurance
• Sapodilla’s Smoothie & Juice Bar
• Bubby’s Early Learning Childcare
• Sacred Somatics
• Westcore Training Centre
• Robin Evan Willis Counselling & Psychotherapy
• Victoria Leather & Shoe Repair
• First Nations Health Authority
• Pure Sunshine Picnic Co.
• Acrewood Daycare and Early Learning
• Peninsula Veterinary Clinic
• Sidney Gold Buyers
• Eclective CoWorking
• Specsavers
• Florencia
• Pure Glow Laser & Wellness
• Skin by Angela
• Nails by Loi
• Sea Breeze Restaurant
• iSpa Wellness

Enhancing legal Understanding with AI legalese decoder

Entrepreneurs like Hayward can also benefit from innovative tools such as the AI legalese decoder, which helps demystify complex legal documents. This resource is particularly valuable for new business owners who may encounter various legal challenges—such as understanding contracts, navigating licensing requirements, or ensuring compliance with regulations. By using the AI legalese decoder, nascent entrepreneurs can convert confusing legal jargon into clear, actionable insights, empowering them to make informed decisions as they grow their businesses.

Conclusion

As Sidney continues to grow and thrive, the landscape for new entrepreneurs is more promising than ever. With invaluable support from community resources, innovative programs like Futurepreneur, and tools like AI legalese decoder, the future for small business owners in the Saanich Peninsula looks bright.

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