Local Startups and Young Entrepreneurs of Edmonton

Small businesses and leaders are thriving, despite their stressful lifestyle and tumultuous economy.

Coworking spaces and collaboration allows entrepreneurs to enjoy their work in a quiet space.

While scrolling through Instagram in today’s competitive world, it seems like everyone (including an older lady who sells mouse poop) can be an entrepreneur with the help of online business. Despite the recession which occurred a few years ago, Edmonton (Alberta’s capital) has seen a recent rise in small and local businesses. Yet, entrepreneurs in the 1940s and 50s did not bask in the same sort of success as today’s business starters.

"Ideally, even a 17 year old could open up a website to showcase their brilliant idea and build a following."

Many of these entrepreneurs were born into a world where entrepreneurship was perceived as a mysterious ability that few naturally showcased. In the 1950s, “entrepreneurial education” emerged in universities, which made the idea of starting a business more accessible to the public. The typical entrepreneur was a suited, white male that was lucky enough to be taught entrepreneurship and utilize their extroversion to charm anyone. They mostly lived in financially-viable locations and based their businesses within their region. Of course, these are broad generalizations, but it certainly paints an interesting picture in your head.

The Evolution of Entrepreneurship:

The depiction of an entrepreneur has changed drastically over the years with the invention of new media, such as the Internet. Ideally, even a 17 year old could open up a website to showcase their brilliant idea and build a following. Although that isn’t entirely realistic in every scenario, access to information on startups and how to market your products online are galore. Therefore, many young people crave the idea of starting your own business from scratch, believing that they can become business-savvy without having magical genes. Furthermore, diversity in the pool of leading entrepreneurs has increased. For instance, “there were 950,000 self-employed women in Canada in 2012, accounting for 35.6% of all self-employed persons”. The diversity increase is also the result of minorities and much younger people pursuing an entrepreneurial lifestyle, compared to the 50's.

Thanks to sites like Kickstarter and networking opportunities available through the Internet, the prospects of funding are higher. Even delivery rates have grown to be more efficient through online sites like Amazon, and the idea of some tech/ virtual products (such as the infamous fitness guide) not needing a warehouse has made production simpler. Furthermore, an interest in ethical and sustainable business that values the environment and its people is something that many modern businesses are striving for. The ease of opening up your laptop and having a business meeting with someone who lives on the other side of the world is also a cool invention that brings countries together.

The Reality of the Lifestyle

Entrepreneurs might face stressful situations and self-doubt.

Despite the shiny allure of having a luxurious lifestyle built from your own money while rocking elite status, an entrepreneur's lifestyle can often be stressful. Many businesses that seem to be an overnight success, have actually attempted like 60 times before their breakthrough. Each of these attempts probably involved crazy work hours, sometimes not having much of a social life, and going through many downs that might stem from outside events.

An important thing to realize about an entrepreneurs’ lifestyle is that everyone has a different set of rules to live by, despite many sources slapping labels on how true entrepreneurs live. According to Forbes, many entrepreneurs start early and begin to lay foundations for the day while others are sleeping. This is coupled with soul-enriching activities like journalling, stretching, and reading. In contrast, others may start the day with emails and coffee, then move on to attending meetings and marketing their products/ services, and finish by tucking their kids into bed. Essentially, every entrepreneur's path is different, but all of them are usually difficult.

Due to technology, the idea of work-life balance becomes hazy, since some entrepreneurs might answer their emails while they are at a family dinner. Some entrepreneurs might also have to wear hundreds of different hats, and juggle many different parts of the project simultaneously. And these are just some of the things that are usually mentioned in online sources, when walking in the shoes of an entrepreneur would provide a different experience. Yet, these drawbacks are coupled with many silver-linings; the ability to create your own schedule, having creative control over your ideas, eating the fruits of independent labour, and making a difference in your own way.

Outside of lifestyle struggles, many external economic and societal challenges might also emerge as entrepreneurs blaze their own trails. For instance, some emerging companies might need to patch up their reputation after a PR scandal. While others may face the difficulty of ensuring that every legal action (including liability, contracts, and employee agreements) are done correctly. Balancing low costs while making products and services with the least impact on the environment and the most benefit to their employees & customers can also bring challenges, along with rewards. The threat of emerging competition, tax spikes, loss of sales through misguided marketing, and the tendency of some employees to transfer jobs more frequently could also be concerns for startups.

In Edmonton specifically, many small businesses face “the worst provincial recession in decades and face minimum wage increases, carbon taxes and continuous increases in property taxes”. Small ventures in Alberta also state that the “carbon tax increases their production costs, and adds pressure to decrease salaries.” In contrast, the minimum wage increase to $15 is contributing to businesses needing more cash flow to support their employees. Thus, in order to lighten the mood around some concerns that entrepreneurs face, this blog focuses on success stories and interesting lifestyles in Edmonton’s growing entrepreneurial field!

Edmonton's Finest Leaders and Businesses

Wilfred's and Doughnut Party will surely delight your senses!

Despite the avalanche of unpleasant circumstances that could be looming around the corner for every startup, many businesses are staying optimistic. In fact, Edmonton is made up of 95% small businesses. Here are the top three that seemed interesting to me:

1) Wilfred’s Restaurant- Located in the heart of downtown Edmonton, this beautiful space combines the old with the new. Wilfred’s offers a warm buzz of belonging as you sip coffee and indulge on interesting dishes like brown butter roasted beets with your beloved friends and family.

2) Ritchie Market- This community hub was Founded by Paul Mark and Greg Zeschuck in order to bring local business back into the area. Every guest gets an open invitation to see the behind-the-scenes action of a coffee shop, brewery, restaurant, and butcher’s shop all in the same space!

3) Msichana- This ethical business designs bold patterned fashion pieces in Edmonton, and produces them in Africa. The production transfer allows Ugandan women to gain confidence, and steady employment with benefits.

Also, check out these three entrepreneurs and leaders based in Edmonton:

1) Greg Zeschuck- After training to be a medical doctor, and launching several video games under BioWare, this leader now owns Blind Enthusiasm, The Monolith (both breweries) and Biera (a brewpub). Tweet him if you want to know more about his ventures!

2) Simon Underwood- Him and his business partner Matthew Garrett began selling vegan donuts in Edmonton’s farmers market as a side hustle to teaching. This small venture later evolved into Doughnut Party, which is a donut shop subleased with Duchess Bakery. Not only do they sell out within hours every day, they also keep a humble attitude in spite of their business success.

3) Marnie Ashcroft- Founder of Glow Juicery, this leader does not mess around when it comes to pushing barriers and breaking into the healthy juice market. Her all-natural, body healing bottles of magic are already available in 11 locations across Canada since the first store opened in 2012. Connect with her on LinkedIn if you want to bask in her success.

To top off a heaping list of Edmonton’s startup and entrepreneur gems, check out this list of 10 Vietnamese Edmonton Entrepreneurs on Linda Hoang’s blog.