Futurpreneur is a nonprofit that has fostered the entrepreneurial passions of Canada’s diverse startup founders ages 18-39. Futurpreneur has helped over 18,700 young entrepreneurs launch their small businesses and it is the only national non-profit organization that provides young aspiring entrepreneurs across Canada with the loan financing, mentorship and resources they need to start or buy a business. Pulse 2.0 interviewed Futurpreneur Regional Director Andrea Welling to learn more about the non-profit.
Andrea Welling’s Background
What is Andrea Welling’s background? Welling said:
“I was born near Calgary, Alberta, and moved to the UK when I was a young child. My formative years were spent in England and Scotland. My family traveled to many countries in Europe and Asia before I was 10 years old. I learned a great deal about people, cultures, and diversity. I also had to make friendships quickly and say goodbye many times. It gave me resilience through change and also a love for adventure.”
“My first degree was a BA in Political Science and Business from the University of Calgary followed by a move to Vancouver to focus on an MA in Women’s Studies from Simon Fraser University. My master’s thesis focused on food security and local economic development, as well as, women in business.”
“After completing my master’s degree, I was inspired to become an entrepreneur and co-founded Ladybug Organics Home Delivery Service. In the beginning, we only had an old VW van for deliveries and rented a barn from friends to run the business operations. Eventually, Ladybug Organics purchased a warehouse property and refrigerated vans, and hired a team to pack and deliver products. My business partner and I grew the business to $1 million in sales over five years and sold hundreds of local products.”
“I took a break from the delivery service to focus on motherhood. I became a personal trainer, women’s coach, and fitness instructor, launching a side hustle called MomCoach. It was a great part-time business that fit well with being a new parent.”
“Eventually, the kids grew older, and I shifted my focus to facilitation and adult education. For over seven years, I worked at the YMCA as an Adult Learning Manager, providing leadership for Employment Insurance (EI) Self Employment programs in Vancouver, the Sunshine Coast, and the Kootenays, as well as, employment programs for adults and youth.”
“In March 2019, I joined Futurpreneur as the Regional Director for BC. My experiences as an entrepreneur fuel my passion for supporting young entrepreneurs, which we do daily and every step of the way at Futurpreneur. I get the opportunity to help young entrepreneurs with any blind spots they may have, hopefully saving them time and money and streamlining their entrepreneurial journey.”
Main Goals
What does Futurpreneur do? What’s the organization’s main goal? Welling shared:
“Since 1996, Futurpreneur has fostered the entrepreneurial passions of Canada’s diverse startup founders ages 18-39. We are the only national non-profit organization that provides young aspiring entrepreneurs across Canada with the loan financing, mentorship, and resources they need to start, buy or grow a business.”
“Futurpreneur has supported more than 18,700 diverse and young entrepreneurs. We have been the backbone of more than 14,700 businesses launched across Canada and have provided over $219 million in loan financing alongside mentorship since inception.”
“Our purpose is to drive inclusive Canadian prosperity by fostering the success of young entrepreneurs in every part of the country.”
Favorite Memory
What has been your favorite memory working for the non-profit so far? Welling reflected:
“Karen Greve Young, Futurpreneur’s CEO, Micah Anshan, Senior Director Partnerships and myself were in Victoria visiting with Futurpreneur-supported entrepreneurs, recently. During our visits, we were able to go behind the scenes at Working Culture Bread and experience their strong team and supportive small business culture. They allowed us into the bakery and we watched them make their delicious breads and pastries. Plus, Co-founder Jessica Rivers was able to have her young child on her hip as she went through her workday and it was truly heart-warming to see how the team embraced her as a leader and mompreneur!”
Significant Milestones
What have been some of your nonprofit’s most significant milestones? Tell us how you’ve made a difference. Welling cited:
“Our milestones are reflective in our numbers. More than 14,700 businesses have been launched in every province and territory in Canada, and we have provided over $219 million in loan financing. We have helped a range of businesses with our diverse programs for entrepreneurs.”
“We literally have something for everyone – just take a look at our website!”
“Some of our program highlights include:
– The Core Startup Program
– The Black Entrepreneur Startup Program;
– The Indigenous Entrepreneur Startup Program;
– The Side Hustle Program;
– My Canadian Startup (a newcomer entrepreneur initiative);
– The Ohpikiwin Series (for Indigenous individuals).”
Owners Wanted Workshops
We understand you recently ran the Owners Wanted workshops in Port Alberni and Cranbrook, tell us more about this. Welling pointed out:
“Yes, Futurpreneur recently hosted a series of free workshops called #OwnersWanted. These workshops are for current and aspiring business owners interested in buying or selling a small business. These workshops are purposely hosted in rural communities that have less than 20,000 people because we often find a great deal of interest in this topic within these communities.”
“We hope to educate and inspire young and aspiring entrepreneurs, who perhaps, under certain circumstances, wouldn’t necessarily consider buying a business. At Futurpreneur, we pride ourselves on making entrepreneurship as accessible as possible, especially within equity-deserving communities.”
“At #OwnersWanted, entrepreneurs learn how to:
– Find a viable business that may interest them;
– Approach and appeal to business owners;
– Put a deal together, practice negotiating and due diligence;
– Close the deal in a mock negotiation process;
– Structure and obtain the necessary funding; and
– Learn about Futurpreneur’s loan with mentorship offerings.”
Differentiation From Other Non-Profits
What differentiates Futurpreneur from others? Welling affirmed:
“In 1996, we started out as a start-up for start-ups. There was a massive gap in the Canadian financial marketplace, so Futurpreneur was born with the aim of providing financing with mentorship and business resources to young aspiring entrepreneurs interested in starting, buying or growing their own businesses.”
“I am proud that 42% of Futurpreneur-supported businesses are women-led, 15% have Black founders and 5% have Indigenous founders. We provide inclusive loan financing with one-on-one mentorship, resources and networking opportunities and create opportunities for young start-up founders to reach their goals and succeed on their entrepreneurial journeys.”
“Also, my colleagues across the country, from our diverse Board of Directors to our senior leadership team, and all levels of the organization, are truly trusted, passionate and experienced, when it comes to the world of entrepreneurship. We come from various industries, and many of us have been entrepreneurs ourselves, and we are incredibly committed to the success of our Futurpreneurs!”
Future Goals
What are some of your non-profits’ future goals? Welling emphasized:
“Futurpreneur’s goals include empowering more diverse young entrepreneurs in every province and territory to start, buy or grow their small businesses. The more we support, the better it is for the Canadian economy and this country’s prosperity.”
“When we offer access to loan financing with mentorship to young startup founders, we can change the trajectories of their businesses and their lives. They can then pay it forward for generations to come.”
“At Futurpreneur, we don’t believe in gatekeeping the entrepreneurial experience. We believe in inclusivity, community building and collaboration across the ecosystem. Through offerings like our Black Entrepreneur and Indigenous Entrepreneur Startup Programs, or our My Canadian Startup program, we can serve equity-deserving communities, empowering them towards their entrepreneurship goals and advancing our organizational goals.”
Additional Thoughts
Any other topics to discuss? Welling concluded:
“Buying small businesses is a huge opportunity for young entrepreneurs in BC and the rest of Canada. 76% of Canadian business owners are planning to exit their businesses over the next decade — and 54% say their biggest challenge is finding the right buyer.”
“I want to emphasize that you don’t have to start from scratch when buying a business. You don’t have to reinvent the wheel and create a business from the ground up. That’s where Futurpreneur, and our #OwnersWanted initiative comes in. We are equipped to help connect you with potential sellers, and empower you with information so you feel confident in making business decisions.”
“There is definitely a big opportunity for young entrepreneurs to get into business at the moment, and Futurpreneur can help you on this journey.”
“Learn more about our upcoming free #OwnersWanted workshops in BC. Visit: https://futurpreneur.ca/en/program/owners-wanted/.”
