Bow Valley College provides a step up for entrepreneurs

By Miriam Ostermann, Associate Editor

A recent survey revealed Strathmore and area to consist of large mature business communities, creating a gap for start-ups. As a result, Bow Valley College is expanding its influence beyond its classrooms with the launch of its Strathmore Campus Entrepreneur Centre – the first of its kind.
The research surveyed 200 businesses in Strathmore and Chestermere, where 62 per cent of businesses were deemed mature – at five years of age to 25 years and above. In comparison, the area only had 21 per cent of businesses in the start-up phase – zero to three years – and 14 per cent in the growth phase from three to five years. Only three per cent of businesses were currently in the succession phase, where a business may be shutting down or handed off.
Those who participated in the survey said a shortage of skilled workers, media and marketing, and the cost of goods and operations posed challenges to the entrepreneurs.
The findings aided in the creation of the incubator space for local entrepreneurs, located in the 4,500 sq. ft. Strathmore Bow Valley College campus. The learning hub provides up-and-coming businessmen and women from Strathmore, Chestermere, Siksika Nation and surrounding communities with tools to grow their business with advice from experts and mentors, and offering classes, networking and mentorships.
“Because of the business community being predominately mature, there’s a lack of these start ups coming underneath. As the mature businesses move into succession and move closer and closer to that stage, then there needs to be more filling that gap,” said Jennifer Neufeld, project officer for Bow Valley College Strathmore Entrepreneur Centre.
“That’s why we were looking at creating this entrepreneur centre and providing these resource for start ups and people who are in the growth phase as well.”
The Strathmore location is one of Bow Valley College’s seven campuses but the first to offer such an initiative, allowing residents to access a drop-in option to try co-working, co-learning and networking.
“Many respondents want business-focused workshops and certifications that complement their years of business experience,” said Cara Dore, regional manager for Bow Valley College campuses in Strathmore and Airdrie.
“Specifically, they want to see courses and mentorship in planning, managing people, bookkeeping, social media and networking. We’re here to walk them through the process with education and first-hand knowledge brokers who have already taken the plunge.”
The entrepreneur centre is expected to open on Sept. 11 at 10 a.m. during the inauguration of the Bow Valley College Strathmore campus. For more information visit bowvalleycollege.ca/Strathmore.