Patti Durand sees the power of small business. As an entrepreneur herself and working as a Small Business Advisor with Scotiabank, she wants to give people support as they start their own entrepreneurial endeavors.
Durand wanted the many small businesses in Humboldt to be recognized.
“It’s something that we really want to draw attention in our community...it’s something we want to spend a lot of time on to provide really good advice.”
Since definitions can vary between government definitions to financial definitions, it can be hard to define who qualifies as a small business.
“There’s a perception out there that we’re talking about Mom and Pop hot dog stands or little tiny do-it-yourself fix it shops, that kind of thing. Small business encompasses a huge range of business.”
There is some big numbers in terms of how Durand and Scotiabank define small business. Lending up to $2 million in the agricultural sector still makes them a small business, says Durand.
It’s important for people to realize what these small businesses generate, says Durand, she cannot fathom the dollar amount. Breaking it down, when all the employees wages are paid out and they spend that money in the community, it can add up.
“Humboldt is a hub and those small businesses is part of what draws it. The diversity of what we offer here and what is generated has multiple spin offs.”
From home business to trades to manufacturing businesses, “Humboldt and surrounding area is so entrepreneurial.” Says Durand and she sees the number of small businesses starting up in the Humboldt area. Through the Information Services publication, she sees that number of businesses that start up. She sends them welcoming letters to each one and she says she has seen only one week where there isn’t as least one.
“For a community and an area of our size, to have that rate of business establishment is exceptional. We are comparable to communities like Prince Albert.”
That entrepreneurial spirit and energy of Humboldt is something that everyone should know about, says Durand
“Everybody should know what kind of opportunities are being generated here.”
It’s difficult as a new business starting out, says Durand. There are a lot of expenses and really challenging.
Durand says she directs new business owners to resources outside the realm of a bank.
“While people have expectations that their traditional financing is through the bank, there are other venues and avenues to be taken.”
Funding, business plan writing support, business coaching can be found outside Durand’s office, she says.
“If you walk through my door, I’m going to connect you to the right people, whether it’s within the Scotiabank system or outside of that.”
Many of these resources fit a variety of needs, says Durand. From starting a business and expanding a business to selling a business and retiring, there are lots of resources out there.
“There are number of different organizations that are really well geared and are there as a resource, recognizing the difficulty when someone is trying to open a new business.”
Durand says, this entrepreneurial spirit in Humboldt is one people want to follow and you do not have to find success on your own.
Even with her branch being situated in Humboldt, Durand says she covers all communities within a 30 minute radius.
“When you’re starting a new business, it’s such an exciting time personally and if I can help them celebrate that and let them know I care to hear about it, hearing businesses stories is the best part of my job.”
Small Business Resources care of Patti Durand:
Sagehill Community Futures - www.sagehill.ca
Futurpreneur - www.futurpreneur.ca
Square One - www.squareonesask.ca
Women’s Entrepreneurs of Saskatchewan Inc. - www.womenentrepreneurs.sk.ca
