In this episode of Financial Planning for Canadian Business Owners, Jason Pereira, award–winning financial planner, university lecturer, and writer, interviews Mark Patterson, Executive Director of Magnet. Magnet is a social innovation platform out of Ryerson University that helps small businesses navigate talent markets and find support to reach their goals!
Episode Highlights:
- 0:56 – Mark Patterson introduces Magnet.
- 2:46 – What observations inspired the creation of Magnet?
- 6:36 – Jason discusses the reality of government programs.
- 7:22 – How long has Magnet been helping small businesses?
- 9:11 – Mark dives into the talent piece of building a business.
- 11:36 – What are the options available for export businesses?
- 13:50 – How many programs is Magnet currently compiling?
- 16:50 – Mark and Jason discuss the removal of barriers to resources that are already available.
- 20:06 – Are there any large–scale examples of companies that have exploded with Magnet’s help?
- 21:40 – Mark discusses the importance of finding support programs during the pandemic.
- 22:27 – What does Magnet’s onboarding process look like for clients?
3 Key Points
- Magnet recognizes the difficulties of building a business and helps connect businesses with talent and support to break through the barriers of small–business growth.
- While government programs to assist small businesses are available and plentiful, the application process can be very daunting and time–consuming.
- Larger and medium–sized businesses have internal departments that are focused on capitalizing on the programs.
Tweetable Quotes:
- “The government has many many many programs...the challenge was actually small businesses navigating those.” – Mark Patterson
- “At the end of the day, we all win if our small businesses are able to succeed and we can remove some of these barriers that they face to grow.” – Mark Patterson
- “It’s necessarily putting more money into the system, we need to remove the barriers that make it hard for small business to access what’s already available.” – Mark Patterson
Resources Mentioned:
Transcript
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