The Future of Canadian Business: Key Takeaways from CB’s 2024 Evolution Summit

The Canadian Business (CB) Evolution Summit returned on October 21, bringing together top business minds to address the pivotal question: Is Canada still the best place to build a business? Hosted at King West’s Luma venue atop the TIFF Lightbox in Toronto, this multi-day event offered a platform for forward-thinking discussions on Canadian micro-business, Indigenous entrepreneurship and the evolving importance of brand trust.

Night One — Building Resilience for Micro-Entrepreneurs

The first night of the CB Evolution Summit was dedicated to empowering micro-entrepreneurs. Sponsored by Wave and Amazon Web Services (AWS), the event featured insightful discussions and expert panels. 

Attendees also experienced a live taping of CB’s coming-soon podcast, The Moment. Hosts Jason Maghanoy, publisher of CB, and Fatima Zaidi, founder and CEO of Quill, engaged in a compelling conversation with Marie Chevrier, the former CEO of Sampler, exploring the journey of her company’s rise and eventual closure.

Key Takeaways:

• Chevrier stressed the importance of resilience over perfection in navigating the ups and downs of entrepreneurship. “If we can master the art of rebounding, each next business becomes stronger and smarter.” 
• Nadine Woods, founder of the body inclusive intimate apparel brand Mayana Genevière, emphasized the power of community in building a strong, resilient business.
• Anishinaabe entrepreneur Chelsee Pettit and Wave's Zahir Khoja highlighted the crucial importance of cash flow management for small businesses.
• AWS's Dan Stark discussed technology as a catalyst, particularly AI and digital tools, in helping small businesses streamline operations and stay competitive: “Technology isn’t optional anymore. The pandemic has proven that without it, businesses can’t compete.”

Night Two — Indigenous Entrepreneurship and Brand Trust

The second night of the summit focused on Indigenous entrepreneurship, technology's role in business and the importance of brand trust.

Key Takeaways:

• Bobbie Racette, CEO of Virtual Gurus, shared her inspiring journey as an Indigenous woman in tech, emphasizing the importance of perseverance and purpose. Sasha Krstic, President of Mastercard Canada, noted Mastercard’s dedication to Indigenous prosperity: “We can’t grow Canada’s economy without including the Indigenous economy. Empowering Indigenous businesses isn’t just a goal—it’s essential to our national success.”
• Panelists from Mastercard, BMO and Microsoft Canada discussed the role of technology in building and maintaining brand trust. Sara Cappe, president of the Harris Poll Canada, observed that Canadians tend to scrutinize homegrown companies more critically, noting, “Trust is earned every day, and for Canadian companies, the bar is set higher. Canadians expect authenticity and integrity from brands that call Canada home.” 

Both evenings concluded with lively networking sessions, where attendees exchanged ideas and inspiration over drinks and bites, fostering a sense of community that is essential to Canada's evolving business landscape.

Read more about what transpired at the events on CanadianBusiness.com.

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