Featured Business
SheaMoisture Dream Fund – Empowering female entrepreneurs to make choices and have a greater say in their financial lives
Published
1 year agoon
BY SIMONE J. SMITH
It all started in 1912 when a widowed mother of four started selling Shea Butter, African Black Soap and her homemade hair and skin preparations all over the countryside. At the age of 19, Sofi Tucker began her entrepreneurial experience, uncertain of what was to come, but with a determination that to this day is admired by anyone who knows of her legacy.
She became known as a healer who shared the power of shea and African Black Soap, and years later handed down her recipes to grandson Richelieu Dennis, who founded SheaMoisture and incorporated her wisdom into the brand’s hair and skin care innovations.
We now know SheaMoisture as a premier luxury hair and skin care line with a range of natural hair care products designed to tame curls, restore hydration levels, improve hair texture and leave hair looking and feeling healthy.
Some of their bestselling products include the SheaMoisture Coconut and Hibiscus to enhance curls, Raw Shea Butter to add essential moisture into dry and dehydrated hair, Jamaican Black Castor Oil to strengthen the hair and restore its natural state, and Superfruit Complex 10 to help restore color vibrancy and protect sensitized hair. Each of these products are infused with a blend of active botanicals and natural ingredients including shea butter, coconut oil, mango seed butter and silk proteins. It also has a range of bath and body products designed for soothing, hydrating, illuminating and energizing the skin.
In honor of Sofi Tucker (Grandmother of SheaMoisture) and in support of her entrepreneurial legacy, SheaMoisture Canada continues its dedicated support to help empower Black communities across Canada.
In 2021, SheaMoisture launched the Salon Relief Fund to help female business owners survive the challenging tides brought on by the COVID-19 pandemic. The pandemic exacerbated the significant wealth gap between black people and white people in Canada, a phenomenon not unique to Canada but observed in many other countries. The wealth gap is a result of historical and systemic factors that have contributed to economic disparities among different racial and ethnic groups.
Canada, like many other countries, has a history of systemic racism, including policies and practices that have disadvantaged black communities. Discrimination in areas such as housing, employment, entrepreneurship and education, which has limited opportunities for wealth accumulation for black Canadians for generations. Unequal access to quality education has hindered economic mobility and limited career prospects for black Canadians, further exacerbating the wealth gap.
With an impressive $10,000 grant, generous salon gift baskets and educational workshops, SheaMoisture’s newest initiative Dream Fund is providing Black female-owned businesses with the tools, workshops, financial aid, and visibility they need to thrive.
I had the opportunity to sit down and talk to Maureen Kitheka – Brand Lead for SheaMoisture. Speaking with her gave me some fantastic insight on the power of this initiative, and how impactful it has been even though it is only in its second year.
“We have existed for four years in Canada. What was clear was that despite the fact that America and Canada are different, our intentions remain the same; we want to serve the underserved community. One of our main questions was, how do we elevate our communities through wealth creation?
It is about building generational wealth. It is figuring out in our business model, how every sale we make will be invested into the community. This is how the brand is being launched into other markets.
When we talked to Black entrepreneurs, they provided insightful feedback that we were able to use to craft a program that was targeted to smaller businesses. In 2022, we launched the Dream Fund. There was a lot of research that was put into this initiative, and we said that if we are going to do it, we have to do it and talk about it, not just to build the brand, but for the community to know.
We want to expand the program, not just give them grants to walk away, but provide coaching for six months. One thing that was important to us was getting the community involved, and we did this by having them help pick the winners. We put together a panel of eight Black entrepreneurs and we had them help decide from our 300 hundred applicants.
I want to note that we are proud of the fact that last year we only had 60 applicants. We wanted to engage more entrepreneurs, so we put paid media behind it, we used social media, all because we wanted people to be aware. It was about getting the word out. We asked the community to vote via social media. It was about having the community speak. The community owns this decision; they picked the winners.
The beautiful thing about entrepreneurship is resilience. When someone starts a business, it is their bread and butter. When we were picking our winners, we looked beyond what is obvious, and focused on what the businesses were thinking about the community. We did some investigation, research to see how community oriented they were.
Winners last year were asked to choose from a series of workshops; because they had to choose, we can’t tell how much value it added. What is clear to us this year is that it is not a monolith. There are different aspects of business that the entrepreneurs want to dive into, so we are going to tailor the winner’s packages to their needs.
Once we announce the winners, we celebrate them, learn their business needs and by September 15th, we can start their personalized sessions.”
I am happy to announce that we have the names of the winners:
IncluSV Beauty Solutions
IncluSV Beauty Solutions is a Black owned Beauty Supply and Natural Hair Services store located in Windsor, Ontario since August 2020. It is a one stop shop with a variety of products, stylists, and barbers.
Their mission is to provide a transformative experience for women, men, and children by empowering them to embrace natural hair styles. They are dedicated to breaking down barriers and normalizing natural hairstyles as professional choices.
By celebrating the beauty of diverse hair textures and promoting inclusivity, they strive to redefine beauty standards and create a world where everyone can feel proud and empowered in their natural hair.
RÓUN Beauty
RÓUN Beauty is an early-stage bio-cleantech company that is creating Canada’s first plant-based braiding hair extensions for Black and afro textured-hair women.
Established in January 2023, RÓUN Beauty was born out of a frustration with the hidden costs of synthetic braiding hair, scalp irritation from exposure to harsh chemicals and plastic waste as these products end up in landfill after use.
Currently in the final stages of product development, RÓUN Beauty is on a mission to provide women with the gift they deserve; biodegradable and nontoxic hair extensions that help them look great, increase comfort and eliminate environmental harm.
Hello Hair
There comes a time in every girl’s life when they inherit the responsibility of washing, detangling and styling their own hair. Without the correct education, tools and resources, this transition can be painful, and a hit to one’s self-esteem.
Hello Hair, a children’s consumer brand, is on a mission to rewrite the Black hair experience and support the next generation through visual representation, education and showcasing the importance of self-love through hair care and self-acceptance.
Gyallivant
Gyallivant’s mission is to provide innovative services, products, and events, and transformative spaces where Black women can play, explore, and embrace their wellness journeys through entertainment, recreation, and therapy in a holistic and culturally relevant way.
They are dedicated to empowering Black women and offering them a comprehensive platform for growth and self-discovery. Their transformative spaces serve as safe havens, fostering mental, emotional, and physical well-being. With a blend of entertainment, recreation, and therapy, we strive to encourage holistic healing. Their community celebrates the diversity and richness of Black heritage, creating a space that thrives on positivity, empowerment, and personal transformation.
Arbre
Arbre is a sustainable sun care brand on a mission to develop innovative and inclusive sun protection products. Their debut product, Spruce, is a tinted powder dry shampoo with SPF 20. It’s specifically formulated to provide optimal sun protection to the scalp without making your hair greasy. It contains reef-safe ingredients and comes in recyclable and sustainable packaging.
Their goal is to develop sunscreen products that will work for everybody, by creating a range of sun protection products. Arbre is also focused on raising awareness for the importance of wearing sunscreen in preventing skin cancer.
Entrepreneurs bring new perspectives, ideas, and skills to the table. By encouraging and supporting their ventures, we tap into a pool of untapped talent, which can lead to increased innovation, productivity, and economic growth. SheaMoisture is on the cutting edge of entrepreneurial support providing opportunities to build successful businesses and gain economic independence, empowering female entrepreneurs to make choices and have a greater say in their financial lives.
We, as humans are guaranteed certain things in life: stressors, taxes, bills and death are the first thoughts that pop to mind. It is not uncommon that many people find a hard time dealing with these daily life stressors, and at times will find themselves losing control over their lives. Simone Jennifer Smith’s great passion is using the gifts that have been given to her, to help educate her clients on how to live meaningful lives. The Hear to Help Team consists of powerfully motivated individuals, who like Simone, see that there is a need in this world; a need for real connection. As the founder and Director of Hear 2 Help, Simone leads a team that goes out into the community day to day, servicing families with their educational, legal and mental health needs.Her dedication shows in her Toronto Caribbean newspaper articles, and in her role as a host on the TCN TV Network.
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Featured Business
Turn your entrepreneurial dreams into reality with RBC’s Black Entrepreneur Startup Program
Published
5 months agoon
June 24, 2024BY SIMONE J. SMITH
The courage to pursue a passion and turn it into a business can be daunting, especially during times of global uncertainty. Yet, this is exactly what Tarila Morrone, the founder of Heart of Gems, decided to do. Her journey began with an Etsy shop specializing in party supplies, which thrived until the COVID-19 pandemic struck, drastically reducing social gatherings.
Instead of succumbing to the fear and uncertainty, Tarila embraced the opportunity for deeper connection with her children during the lockdown. She realized the profound importance of this bonding time, which sparked the idea for Heart of Gems. Her new venture is dedicated to helping modern parents with busy schedules foster stronger connections with their children and promote self-love.
Determined to elevate her business, Tarila delved into research and discovered a program designed to aid entrepreneurs, which allowed her to secure the necessary funding to propel herself and her business forward.
Tarila is one of many individuals who has taken their business to the next level with the support of RBC’s Black Entrepreneur Program – launched in 2020 with a $100 million commitment. RBC dedicated significant time to thoroughly understand the unique business needs of Black entrepreneurs, which enabled them to develop the following programs tailored to support their growth and success, and has two different solutions:
The Black Entrepreneur Startup Program (BESP)
In partnership with Futurpreneur, they committed $40 million through the BESP to offer: small business loans, mentorship, and business resources to Black entrepreneurs aged 18-39.
The RBC Black Entrepreneur Business Loan (BEBL)
Launched in late 2021, the BEBL provides eligible Black entrepreneurs at all stages of their business journey with loans of up to $250,000.
They have successfully provided $14.5 million in loans (approved and/or disbursed) through BEBL and BESP to over 400 businesses since the inception of the Black Entrepreneur Program in 2020.
In addition to BEBL, RBC also continues to serve the entrepreneur community, including Black entrepreneurs, through its full suite of eligible products and services, including the government-backed Canadian Small Business Financing Loans (CSBFL).
In 2021, they invested $1 million in BKR Capital (formerly known as Black Innovation Capital), a venture capital fund that supports the growth of pre-seed and seed- stage Canadian technology businesses led by Black entrepreneurs. Initially targeted at $10 million, the fund had a successful final close with over $18 million in capital commitments in 2022 and is actively building its portfolio.
It is one thing to read about a fantastic opportunity, and it is another thing to hear about it from someone who has found a way to elevate their business by utilizing RBC’s programs. I had a chance to speak with Tarila, and she shared with me the story of her entrepreneurial evolution.
“The idea for Hearts of Gems came about during the pandemic. I knew that it would be helpful to other parents because it had helped me. I had an infant and a toddler, and I had started a party supply business, but the pandemic slowed that business down, and it was an opportunity to zone in and connect with my children.”
“When I decided to pivot, I went on Google to see what was available, and I stumbled across Futurpreneur, and I was then introduced to the Black Entrepreneur Program. I was nervous at first, because it seemed like it was going to be a lengthy, vigorous process.”
“Once I got started, my anxiety let up; I was pleased with the amount of support that I was provided with. The one thing that I learned throughout this process is that entrepreneurship is not meant to be done alone.”
“The financial support helped me obtain the things I needed to get my business going. The saying is true that you need money to make money. I needed people to help me realize my vision, and strategically execute it, and they provided mentorship throughout the duration of the program and after. This allowed me to navigate some of the challenging aspects of entrepreneurship, and a bonus; for the first year, you are paying interest only on the loan, and this allows time for your business to grow, without the weight of burdening payments on your mind.”
Tarila’s story is a testament to the resilience and creativity that can emerge in challenging times, inspiring others to follow their passions and create something meaningful, even amidst uncertainty. With the help of the Black Entrepreneur Startup Program, Tarila’s dreams became a reality, and if you are ready to take that leap, consider exploring RBC’s Black Entrepreneur Program.
Visit rbc.com/blackentrepreneur and turn your entrepreneurial dreams into reality.
Featured Business
Nervous about your English Proficiency Test; Worry no more! Introducing Pearson|PTE English Language Tests
Published
6 months agoon
May 23, 2024BY SIMONE J. SMITH
“Why is this so hard? I’ve studied, I’ve practiced… but what if I fail? What will happen to my family? The test is next week. If I don’t pass, I don’t know what I’ll do. Everyone says it’s really hard, and I can’t afford to fail…”
Canada is a land of opportunity, a place where dreams can come true. For many new immigrants, becoming a permanent resident, or Canadian citizen is a significant milestone in their journey. It can be a long, and paper laden process that includes medical examinations, background and security checks, proof of funds, educational credential assessments, biometrics, citizenship tests, the interview and of course.
The English Proficiency Test! This is one aspect of this journey that does cause a high level of stress. Naturally, taking a language test in another country, especially after a long hiatus from any form of testing, can be an intensely overwhelming experience. The unfamiliar environment, coupled with the pressure of demonstrating proficiency in a foreign language, can amplify anxiety. Additionally, the absence of recent test-taking practice may lead to self-doubt and apprehension, making the overall experience particularly daunting.
Of course! The test can be daunting, but what if we told you that there was a way for you to effectively, and efficiently prepare; a platform offering practice tests that simulate the actual English Proficiency Test required for Canadian permanent residency, or citizenship?
Introducing, Pearson|PTE English Language Tests the world-leading provider of English language tests recognized worldwide by universities, colleges, governments, and professional bodies. Trusted by 3,500+ universities and colleges globally, their ambition is to support test takers every step of the way for a true worry-free experience.
At Pearson, their purpose is simple: to add life to a lifetime of learning. They believe that every learning opportunity is a chance for a personal breakthrough. That is why their 18,000 employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. They are the world’s leading learning company, serving customers in 200 countries with: digital content, assessments, qualifications, and data.
PTE Core was created in response to Canadian economic migration needs. It is already recognized by more than 97% of universities and 95% of colleges in Canada. the UK, Australian and New Zealand governments also accept PTE tests for all visa applications, and PTE Academic is also accepted by 100% of Australian, New Zealand and Irish Universities and 99% of UK universities.
With an increased focus on supporting Canada’s economic resurgence and post-pandemic growth, IRCC is increasing its Levels Plan to further address the growing demand for the coming years. With high demand in Canada for professionals in areas such as: nursing, engineering and web development, the approval of PTE Core arrives at a good time for test takers and opens new opportunities for Pearson.
“I am grateful to PTE for providing such an intellectual test. It was easy to prepare and understand the format. The training and support also helped a lot in explaining methods.” Syeda, Malaysia
Currently, they are offering a free taster test as well as an online guided practice test for test takers to familiarize themselves with the test experience and to optimize their preparation time and improve their skills. In addition, test takers have access to a ton of resources like the PTE Core Handbook to support their test taker journey.
PTE Core is a new addition to the Pearson Test of English portfolio, sharing many of the unique characteristics of PTE Academic. It is relevant for the vocational test taker, and designed with a real-life, non-academic focus. It was created to meet Canada’s specific migration needs and the IRCC’s language proficiency requirements but could be used to assess the English proficiency of vocational test takers in any country.
Approved last year by Immigration Refugees and Citizenship Canada (IRCC), PTE Core can now be taken to provide proof of English language efficiency for the purposes of permanent economic immigration to Canadian citizenship. Some other great benefits include:
- It meets the Canadian Government’s requirements based on migration needs
- It tests four key English language skills: speaking, listening, reading, and writing
- It enables people to be themselves in English – it has a vocational and real-life focus
- They use a unique combination of AI scoring and human expertise that reduces the risk of bias
- PTE Core test takers will enjoy the same features as PTE Academic test takers.
- The test can be booked online 24 hours in advance, is computer based and taken in a test center
- Results are usually within 48 hours
- Accepted for visa applications to Australia, Canada, New Zealand, and the UK
PTE Core uses similar item types to PTE Academic, but focuses on general English, making it more relevant for test takers. Test questions were developed with detailed specifications and field tested to ensure reliability and validity. Below is what you can expect as a test taker:
- Part 1: Speaking & Writing (This section will test your speaking and writing skills in around 50 minutes)
- Part 2: Reading (This section will test your reading skills in around 30 minutes)
- Part 3: Listening (This section will test your listening skills in around 30 minutes)
Pearson’s vision: to be the world’s leading destination for people committed to building and improving their English proficiency, and with 1.5 billion people currently learning English, there is a big opportunity to grow across the globe.
Gio Giovannelli, President of the English Language Learning division at Pearson, shares, “We are excited to roll out PTE Core to test takers across the world. It was designed to test real life language skills and allows test takers to showcase their proficiency and be themselves in English. Whether people are looking to work, study or migrate to Canada, there’s a Pearson English language proficiency test that suits their requirements.”
Support and preparation can make all the difference. Don’t hesitate to seek the help you need. Start your journey today. Visit https://www.pearsonpte.com/ to learn more.
Prepare with confidence. Achieve your dreams. Welcome to Canada!
Featured Business
The Silent Hero: Why every business needs a good bookkeeper Nuages Consulting Inc, Chartered Professional Accountants, Certified Public Accountants
Published
6 months agoon
May 21, 2024BY SIMONE J. SMITH
“I received a call, and the client started crying. She had a business, her bookkeeping and taxes were everywhere, and she was feeling overwhelmed. She only used Excel, and she wanted to save money.”
“I can do what you want me to do, but that won’t help you. How about we offer you something that will help you out.”
In the fast-paced world of business, where attention is often drawn to flashy marketing campaigns and innovative products, there exists a silent hero that operates behind the scenes, largely unnoticed yet indispensable to the success of any enterprise or small business. Meet Nuages Consulting Inc, Chartered Professional Accountants, Certified Public Accountants – the unsung guardian of financial integrity and stability.
In the dynamic landscape of entrepreneurship, it’s easy to overlook the crucial role that a good bookkeeper plays. They are the backbone of our financial operations, ensuring that every dollar is accounted for, every transaction is recorded accurately, and every decision is grounded in reliable data.
Beyond the mundane task of number-crunching, a skilled bookkeeper serves as a strategic partner, offering valuable insights and guiding prudent financial decisions. From budgeting and forecasting to tax compliance and financial analysis, their expertise is indispensable in navigating the complex terrain of business finance.
To think; the smallest financial oversight can have far-reaching consequences, and this is why the value of a proficient bookkeeper cannot be overstated. They are the guardians of fiscal responsibility, ensuring that the financial health of your business remains robust and resilient in the face of uncertainty.
“Having a good bookkeeper onboard provides businesses with the clarity and transparency they need to steer the ship in the right direction,” shares Gloria Kapuku, CPA and founder at Nuages Consulting Inc, Chartered Professional Accountants, Certified Public Accountants. “These reports enable us to identify trends, spot potential risks, and capitalize on opportunities for growth.”
“We have a meeting first; during our meeting we let you explain your system. I need to understand you. I then share our process and let them see how things could be. People are resistant, so we take things slowly.”
The full bookkeeping system involves the systematic: recording, organizing, and summarizing of financial transactions within a business. It begins with the initial entry of transactions such as: sales, purchases, payroll, and expenses into the accounting system. Subsequently, these entries are categorized and posted to appropriate accounts, ensuring accuracy and compliance with accounting principles.
Throughout the cycle, reconciliations are conducted to match records and identify discrepancies, followed by the preparation of financial statements, including: the balance sheet, income statement, and cash flow statement. Lastly, the cycle culminates in closing entries, ensuring that revenue and expense accounts are reset for the next accounting period. Overall, full-cycle bookkeeping provides a comprehensive overview of an organization’s financial health, facilitating informed decision-making and regulatory compliance.
“One of the first things that I tell my clients,” Gloria shares, “Is let’s set up proper procedure. We set up a step-by-step plan and enforce the workflow. We meet every month to ensure you are staying on course. Then we meet every three months, and then we do a yearly check -in.”
Incredibly, Nuages Consulting Inc, Chartered Professional Accountants, Certified Public Accountants have fantastic resources on their website including Mentorship and Coaching Services that will help you achieve your personal, business, or career goals. Their goal is to introduce you to new ways of thinking, challenging your limiting assumptions, sharing valuable life lessons, and much more.
They have your bookkeeping basics, a DIY in how to keep your books and records clean. Topics of discussion include:
- Why is bookkeeping important?
- Best way and software for bookkeeping
- Important activities in bookkeeping
- How to master bookkeeping
Bookkeeping practices
- Mix or separate personal and business income and purchases?
- What are internal controls?
- Bank transactions, electronic or paper format?
- What is bank reconciliation?
- What are financial reports?
- What are records?
- Excel worksheet or accounting system?
- Tax forms.
- Accountants, CPAs, and tax professionals/planning
The team also does a deep dive into the numbers – financial statements and balancing the books. They also have a Bookkeeping – Advance Mentoring and Coaching Sessions (10-15 hours) where they explore different types of bookkeeping accounts, what they are, what they do, and how to book them. These sessions include:
- Accounting Basics
- Debits and Credits
- Chart of Accounts
- Bookkeeping
- Accounting Equation
- Accounting Principles
- Financial Accounting
- Adjusting Entries
- Financial Statements
- Balance Sheet
- Working Capital and Liquidity
- Income Statement
- Bank Reconciliation
- Accounts Receivable and Bad Debts Expense
- Accounts Payable
- Inventory and Cost of Goods Sold
- Depreciation
- Payroll Accounting
- Stockholders’ Equity
- Nonprofit Accounting
Ready to get started? You can book a 15-minute free consultation for any of the topics below:
- “Ask us anything” service provides a free consultation where you can ask us about tax, accounting, bookkeeping, incorporating and more.
- Book a 15-minute scheduling call with us to discuss which mentorship and coaching is appropriate for you!
- Tax preparation, where the focus is on operating your business and personal affairs, knowing that your tax needs are being fully met.
So, the next time you glance over the balance sheet, or pore over financial statements, remember the silent hero who works tirelessly behind the scenes – Nuages Consulting Inc, Chartered Professional Accountants, Certified Public Accountants, whose meticulous attention to detail and unwavering dedication keep the wheels of your business turning smoothly.
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