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

  1. 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.
  2. While government programs to assist small businesses are available and plentiful, the application process can be very daunting and time–consuming.
  3. 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:

  • Facebook – Jason Pereira’s Facebook
  • LinkedIn – Jason Pereira’s LinkedIn
  • Woodgate.com – Sponsor
  • FintechImpact.co – Website for Fintech Impact
  • jasonpereira.ca – Jason Pereira’s Website
  • Export.magnet.today – Suggested Website for Magnet
  • Magnet.today – Main Website for Magnet

Transcript

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