One of Canada’s national telecommunications company TELUS and The Globe and Mail have announced that the Small Business Challenge is back and accepting entries from Canadian entrepreneurs and small business owners.
The challenge is an annual contest that attracts thousands of small business owners from across Canada. Entrepreneurs are asked to submit the biggest challenge they face in their business and also propose an innovative solution to the hurdle. The winning entry is awarded $100,000.
TELUS’s Vice President of Small Business Solutions, Suzanne Trusdale, said that small business owners are creating jobs and contributing to the country’s economic growth. She said that TELUS is extremely enthusiastic about supporting Canadian entrepreneurs and helping small business owners succeed. She added that the Small Business Challenge helps small businesses conquer their biggest obstacles and spurs their growth.
The Small Business Challenge attracted more than 3,300 entries in 2015. The panel of judges awarded the top prize to AquaMobile. The Toronto-based firm uses a web-based platform to connect local accredited swim instructors with prospective clients. Since winning the Small Business Challenge, AquaMobile has doubled its revenues and become the largest on-demand and at-home swim instruction company in North America.
BC-based Vancouver Island Salt Co. won the challenge in 2014. The company is one of the first commercial harvesters and makers of artisanal sea salt in Canada and is a huge supporter of sustainable business. Vancouver Island Salt Co. used its prize money to increase the size of its staff and double its artisanal sea salt production. Today, the company distributes its salt across North America and is now entering the Asian market.
In addition to the grand prize of $100,000, the Small Business Challenge also has prizes for four runners-up, who will each receive $10,000 and a TELUS technology pack of $2,000. The three most promising start-ups will receive mentoring and marketing services from Agency 59, which is Small Business Solutions’ advertising and design agency. This mentoring and marketing is worth $5,000. There are several more prizes in store for small business owners who participate and win in the Small Business Challenge.
There are many similarities between the Master of Business Administration program offered by UCW and the Small Business Challenge. The UCW MBA program places a lot of emphasis on entrepreneurship and ensures that its MBA graduates turn into effective leaders in their workplace. The MBA program equips graduates to overcome the most challenging business scenarios by applying innovative yet practical solutions. This allows MBA graduates to make informed decisions to help their organizations succeed in a competitive business environment.