SMARTstart in Canmore

The Cause

The idea is to run the SMARTstart Program here in Canmore. This program is eight months long and comprised of four tiers, each designed to provide new entrepreneurs with foundational teachings. The first tier consists of in-person & online classes. These sessions are based on topics crucial to starting any business. Leading these sessions are local experts in the field for the topics being covered that week.

These sessions are accompanied by the program’s second tier, online training. This is done through the GoForth Institute. SMARTstart utilizes the Institute’s “100 Essential Small Business Skills Program” which was created by over 200 Canadian entrepreneurs. This comprehensive online training program was developed by listening to advice from these entrepreneurs. Specifically, they asked what skills made the difference between business success and failure for them during start-up and growth.

The third tier to this program is mentorship. New entrepreneurs will be paired with successful, experienced local business owners who will provide a safe space to ask questions, test ideas, and find solutions tailored to their specific business challenges. The mentorship component offers invaluable support during the early stages of building a business, helping participants gain confidence and direction as they grow their ventures

The Fourth Tier is focused on building your network and support systems through peer-to-peer networking events that help build skills, capacity and how to present yourself in a networking session.

Below is an excerpt from the SMARTstart website:

Small business plays a very important role in our local economy. In most Canadian cities, 99% of businesses are small businesses. But the reality is, running a business can be tough. Studies show only 35% of new businesses survive in the first five years.

That’s where the SMARTstart program can play an important role.

It’s proven. Business owners with education in entrepreneurship, or previous entrepreneur experience, have an 80–90% chance of success with a new start up business.

SMARTstart was designed by a group of local partners who understand small business. Its purpose is to provide real-world business skills, access to tailor-made advice and create a support network to increase the chance of new businesses surviving those first crucial years.

Who Will it Benefit?

SMARTstart provides the most significant benefits to the entrepreneurs who participate in the program. These entrepreneurs are either just building their business idea or have been operating their business for up to three years. Helping these individuals by providing essential skills training, tools, expert advice, mentorship and networking. The program supports entrepreneurs during some of the most precarious periods of their startup journeys. These resources help participants build resilience, enabling them to overcome common challenges such as financial strain, market shifts, and operational difficulties.

While entrepreneurs may benefit the most from the SMARTstart program, the positive impact extends throughout the community. By empowering local businesses, SMARTstart fuels job creation, providing employment opportunities for residents. These new businesses introduce valuable products and services, enhancing the quality of life for locals and addressing previously unmet needs. This, in turn, boosts economic activity and diversifies the local economy.

A more diverse economy is key to protecting the community from external market fluctuations. SMARTstart helps to foster this economic diversity, making the community more resilient to downturns. As these businesses grow, they attract visitors and boost tourism, further contributing to our local economy. A vibrant business environment can also draw new residents who are attracted by job opportunities and the overall quality of life, strengthening the community’s economic base. The ripple effect of helping grow these businesses will lead to broader community benefits, ensuring a thriving and sustainable future.

In addition to economic benefits, SMARTstart fosters a culture of innovation and entrepreneurship. This not only encourages local talent but also positions the community as a hub for creativity and growth. By investing in local entrepreneurs, SMARTstart contributes to the long-term sustainability and vitality of the entire community.