The recurring theme that we hear in Estevan is the need to diversify the economy.
Most people know that we don’t have a choice any longer.
We know that Units 4 and 5 are going to come offline eventually, whether it’s this year or in a few years. Their time is winding down, and even if there were to be a change in the federal government later this year, it wouldn’t delay the end for Units 4 and 5.
It might be impossible to be truly prepared for that day when those two units are shuttered, but at least Estevan can be as close to ready as possible.
One of the ideas that has been brought forward is that of a business incubator. For those who aren’t familiar with the concept, they might have been a little confused about it when it was included as one of the planks in the city’s new business recruitment and retention plan released last year.
The city talked about it being a place for mentorship of new entrepreneurs, which is great, but the how and the why seemed a little fuzzy to many, unless you were familiar with incubators in other communities, such as Regina and Saskatoon.
Now we’re starting to find out how this will work and how it will be beneficial for Estevan.
We’re learning that it will be a place where you’ll find numerous aspiring entrepreneurs and growing businesses together under one roof. For a business that’s starting out, where they maybe don’t have the money to afford to own their own space, or rent an expensive commercial area, this is invaluable.
Business owners are always happy to trim overhead costs, especially in the start-up phase.
And it should be beneficial to have all of these aspiring entrepreneurs together under one roof.
We’re finding out that this incubator will be for those who have ambition. It’s for those who want to see their businesses grow and make an impact on the community.
As expected, this will be an area where these entrepreneurs can gain mentorship from those who have achieved success in the business world. It will be an opportunity for those who have experienced success to impart their wisdom.
There are still details to be worked out, but the sooner this incubator, this Launchbox, as it’s called, is up and running, the better.
We’ve all dreamed of being entrepreneurs at some point, of owning our own business, of being our own boss, of creating a service that the public wants. It’s the Canadian dream. It’s why programs such as the entrepreneurship class at the Estevan Comprehensive School are so popular with students.
But it’s not easy to start a business. It’s even more difficult to succeed in business. The more we offer for businesses to succeed, the better off this region will be.
And the more businesses succeed, the greater diversity we’ll have in our community.
The city is entering somewhat untested waters when it comes to the incubator. It has proven to be successful in larger markets, but it’s relatively unprecedented in smaller communities like Estevan. There isn’t a blueprint to follow. Other communities will instead look at what Estevan did right, and where improvements will be needed.
We don’t know if this will be successful or not. Maybe it’s one of those concepts that’s best left to the larger cities. Maybe there won’t be enough occupants in the long-term to make it sustainable.
But it’s worth taking that shot, giving a place for upstart entrepreneurs to work and learn together, and gain that valuable experience and mentorship.
And if Estevan gets some entrepreneurs who can gain that valuable experience that helps them move forward with their entrepreneurial dreams, then nobody can characterize this as a failure.
