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Town talks business with RABC

It was all about business as the Town of Bonnyville council learned more about the role of the Rural Alberta Business Centre (RABC).

It was all about business as the Town of Bonnyville council learned more about the role of the Rural Alberta Business Centre (RABC).

Small business advisor for the RABC in Cold Lake, Kathryn Hotte made a presentation to council during their March 27 meeting to outline the successes of their various programs and how the group can assist the town.

“Even though we’re in Cold Lake, we are part of the Alberta HUB region so we don’t just support Cold Lake. We support the whole Alberta HUB region, including Bonnyville,” said Hotte.

Started in 2012 as a pilot program, the Cold Lake organization is one of four RABCs in the province that continued following the pilot. With their managing partner, Alberta HUB, the local office has grown over the years. In 2017, they facilitated 90 one-on-one client consultations and saw 428 participants at workshops and events.

“We basically provide advice and information to start-up businesses or existing businesses. Whether you’re looking at expanding or growing, or if you’re struggling, we can help you at any stage of the lifecycle of that business,” explained Hotte. “Where we stop is when it comes to the money. We don’t give out any money, we’re not a financial institution, just simply advice and information.”

For entrepreneurs, the RABC provides one-on-one counselling to get them off the ground. The service is free of charge, and sees the clients participate in an approximately hour-long session with Hotte where they’ll receive a start-up kit to ensure they have everything in order.

“One of the things I tell people is just because it’s a great idea, and we have a lot of fantastic ideas come through the doors, but is there a need? That’s where market research comes into play. Our partnership is with Business Link in Edmonton and they have a questionnaire that I go through with them.”

The RABC has proven its worth in the area, helping a variety of ideas come to reality over the past six years. Local businesses such as Calm Waters Colouring and Joly’s Fine Cuisine, among many others, got their start through the program.

“Everything from dog grooming, to a buffalo ranch, to live bait, to jumping fitness; you name it, it’s probably come through the door. We have a lot of very interesting entrepreneurs in this area. I always say to my clients, ‘are you ready for this? Because if you’re ready we can take it to the limit,’” expressed Hotte.

In addition to assisting entrepreneurs, the RABC also offers a number of workshops throughout the year, including their popular Wisdom and Opportunities for Women (WOW) events, and have partnered on the Biz Kids program.

One of the more recent projects is the business incubator in Cold Lake.

“Rental space was very expensive back in 2013, for a simple office you were looking at $1,500 to $2,000. A lot of these clients I first saw were sayi

ng ‘I can’t afford it,’ so that’s where the business incubator idea came up,” Hotte said.
With $45,000 in funding over three years from the City of Cold Lake, and a space to operate out of, the incubator was open for business in September 2015.

Starting at $400 per month, entrepreneurs will get an office space, access to internet, equipment, reception services, use of a meeting area, one-on-one coaching with Hotte, and access to RABC workshops. A number of local service providers are also offering free help to businesses within the incubator in order to help get them going.

Businesses are able to operate out of the incubator space for a maximum period of one-year, before they’re required to find an office space of their own.

There have already been a number of success stories coming out of the business incubator. Blue Sun Healing increased their retail sales by 300 per cent thanks to the program, Cindy Couture Photography has seen sales triple and doubled their clients, and Supporting Wellness and Growth was able to increase their revenue by 65 per cent and form a partnership with the FCSS.

Hotte suggested it’s a program that Bonnyville may want to consider looking into.

“We support the whole region and, potentially, an incubator is a great opportunity for you guys to take on. We would be there to help get you going,” she told council.

After Coun. Chad Colbourne expressed interest in what it would take to get an incubator going in Bonnyville, Hotte explained it’s really up to the town on how much they want to put into it.

“We have a little bit of funds to kind of get it out there and help you guys set it up. Of course, I’ll come out and do it and we don’t charge you for my time, that’s part of the program. It’s just a matter of the town needs to support it in some way, shape, or form... It’s up to the town to come up with whatever funding they can and then I’d come in and help you set it up.”

She added there is already an existing business who would be willing to partner on an incubator should it be something the town ever considers.

“There was a business in town that mentioned it to me, and I’m not allowed to say who they are, but they’re right on the main strip. They have the potential opportunity to rent out space to businesses if there’s an opportunity to do a business incubator.”

Moving forward, Hotte said the Cold Lake RABC is looking at doing more outreach to other communities in the region, expanding their WOW program, and exploring additional opportunities for the incubator such as acceleration and facilitating mastermind groups for existing businesses.

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