Small Is Beautiful: The ‘Secret Sauce’ To Successful Businesses In Atlantic Canada
Fredericton–While Atlantic Canada is known for its smaller provinces, some business leaders say that might be the “secret sauce” to operating a successful business.
During a public policy conference held at the University of New Brunswick on June 14, three panelists discussed the secret to business success in Atlantic Canada.
One of the panelists, Laurel Broten, the president and CEO of Nova Scotia Business Inc. (NSBI), the province’s business development agency, said the secret sauce of Atlantic Canada is that people have close contact with decision-makers.
Broten, a former provincial cabinet minister in Ontario, said it’s easier for her to get decision-makers in a room now that she’s the president and CEO of NSBI. She said the opportunity to have these connections could be a result of the smaller size of the Atlantic provinces and while they might have the desire to grow, they need to hold onto this because it’s an advantage.
“We can get the decision-makers in a room, that there is a common purpose, that there is a goal to build a strong community to create the jobs of tomorrow and people will take time to come and meet with somebody who might actually be their competitor to tell them ‘I actually think the ecosystem would be stronger if you came here,” she said.
Mark McAllister, the CEO of VeroSource Solutions and creator of the MyHealthNB online platform, said Atlantic Canada is strong for building networks that have a deeper level of trust. He said he’s been able to know all the people in his size business from the networking he did.
“We’ve been very fortunate to be able to hire a lot of people who have moved here, as well, and I’ve seen them build into the mesh of the community, which has been really encouraging,” said McAllister.
McAllister said he’s also seen people come to the Atlantic provinces for some of the top funding agencies that are offered and people starting companies can get the support they might not get in other areas of the country or the world.
Terry Malley, the president and CEO of Malley Industries, a manufacturer of specialty vehicles, said the circle is small in Atlantic Canada and networking is easier compared to other areas of the country. He said not only is being a part of a network easier but also making networks.
“Even if I just wanted to call [Broten], I could get a hold of [Broten] or the premier even. It’s a little different if you’re in Ontario or Quebec or something like that. I think we do have that smaller scale,” he said.
Malley said the Atlantic provinces are more inclusive as well. Malley Industries employs around 20 percent immigrants and he said they add to the culture of the company.
Broten said Atlantic Canada needs to work at getting the best and smartest people to move here, focusing on H1 visa holders, migrants and getting university graduates to stay as well.
“We have to make [Atlantic Canada] an inclusive, welcoming place because we need every bit of talent to be able to work in our businesses and to feel included and want to be here,” said Broten.
Jessica Saulnier is a summer intern for Huddle. Send her your story tips: [email protected].