Using technology to scale business for small and medium-sized enterprises
From Oct. 8 to 12, 2024, the Friends of Africa Summit took place at the Westin Harbour Castle, in Toronto, Ont. Featuring virtual and in-person events, the summit brought together more than 300 attendees, including government officials, chamber of commerce representatives, non-profits, and small and medium-sized enterprises (SMEs). The event, sponsored by the Diversity Institute (DI), consisted of panel discussions, an entrepreneurial marketplace and interactive workshops. This year’s theme, Building Sustainable Futures: Scaling Solutions for Business Ecosystems, highlighted key strategies for sustainable growth.
On Oct. 12, Sabine Soumare, executive director of the Diversity Institute’s Women Entrepreneurship Knowledge Hub (external link) , participated in the Black business roundtable discussion titled Building and Sustaining Community Networks for Entrepreneurial Success. Moderated by Cassandra Dorrington, president and CEO of the Canadian Aboriginal and Minority Supplier Council, the panel explored specialized programs like the Women’s Entrepreneurship Hub, a partnership between Scadding Court Community Centre and DI; networking initiatives and the specific needs of Black entrepreneurs. Other panellists included Tiffany Callender, co-founder and CEO of the Federation of African Canadian Economics; Odoi Yemoh, chair of the Ghanaian Canadian Chamber of Commerce; and Clement Esene, co-founder and executive director of the BIPOC Foundation.
During the panel discussion, Soumare highlighted that Black women, despite being one of the fastest-growing entrepreneurial groups globally, face significant barriers that others do not encounter on the same scale. Pointing to WEKH research, she said that Black women receive far less venture capital funding (external link) than White women and Black men and emphasized the important role that data plays in creating change. “Collecting, analyzing and disseminating data on the unique needs of Black entrepreneurs is the foundation of our work. It ensures we understand the gaps and address the issues,” she said.
Dorrington then asked panellists about the role of collaboration. Soumare emphasized the importance of knowledge-sharing and how it can open doors to new opportunities that might not be accessible individually. “Collaboration is a key driver for growth,” she said. She pointed to the Black African and Caribbean Entrepreneurship Leadership Program (BACEL), created in partnership with the Black Business and Professional Association and the Future Skills Centre. The program aimed to reduce barriers for Black entrepreneurs by offering comprehensive support and was delivered to more than 550 participants, most of whom provided positive feedback. “Pooling resources and creating networks not only enhance business success but also drive sustainable growth within the Black entrepreneurial community,” Soumare said.
Wendy Cukier, founder and director of the Diversity Institute and academic research director of the Future Skills Centre (external link) , then led a discussion on technology innovation and entrepreneurship titled Building a Digital Presence: Essentials for Small Business Success. Cukier introduced the panel: John Nelson, director of the Innovation Hub at Carleton University; Cheryl Bedard, partner at InCritical Solutions and CFO of Mimi AllSource Purifications; Deborah Walker, senior business analyst at BMO; and Jonah Chininga, CEO and co-founder of Woveo.
After introducing the panel, Cukier noted how the COVID-19 pandemic accelerated digital transformation, revealing that in Canada, the number of companies offering online products and services tripled between 2012 and 2021. A strong online presence, she said, can drive revenue growth by enabling direct customer communication and easier access to global markets. Diversity Institute research has shown that SMEs, despite accounting for the majority of private-sector jobs, face challenges due to labour and skills shortages and limited access to expertise and resources for upskilling, which hinder growth and innovation. Yet, with Canada’s evolving workforce (external link) , inclusive upskilling and employer-driven strategies are essential for companies’ growth.
Many SMEs lack resources for digital transformation, she said, and while the Canada Digital Adoption Program (CDAP) supports this transition, for example, its reach is limited. A significant barrier, she noted, is that stream 2 of the CDAP requires annual revenues of at least $500,000, which disqualifies many companies. Statistics Canada data reveals that 72% of Black-owned SMEs generate less than this threshold, limiting access for equity-deserving businesses.
She also spoke about the growing impact of artificial intelligence (AI), and considerations entrepreneurs and businesses should take into account when implementing it. She highlighted the potential of AI to reinforce biases when built on historical data and cautioned against the use of free AI platforms, which can lead to errors and intellectual property risks. Nevertheless, she noted that AI offers opportunities for scaling business by streamlining processes—but needs to be implemented ethically and with guidance, and employees trained in its use
Cukier advocated for additional resources, such as mentorship, networking and digital transformation workshops tailored for equity-deserving entrepreneurs. For example, Skills Bridge is a learning management system offering SMEs customized training on various skills, including digital and EDI training. The program has so far engaged 55 chambers of commerce, 861 SMEs and 691 employees in its courses. MindFrame Connect, with Dalhousie University, Globalive and I-Inc, has defined mentorship competencies and served more than 6,000 mentors, mentees and entrepreneurs with workshops and supports. She also stressed the importance of using disaggregated data to understand different groups' specific needs, like those of Indigenous Peoples, which can inform equitable policy adjustments.
Cukier then moderated the panellists’ discussion addressing challenges in establishing a digital presence, barriers to technology adoption and how technology has boosted organizational performance. She took questions and provided closing remarks where she summarized the themes of the discussion. She emphasized the critical need to provide evidence-based tools and support to strengthen the skills and employment ecosystem to meet the needs of employers and Canadians, now and into the future.
