Quebec, Thursday February 8, 2024 – When it is unveiled in January 2023, the assistance program for entrepreneurs in difficulty Entrepreneurial Perseverance, creation of Think Tank in entrepreneurship, an NPO founded by businesswoman Nathaly Riverin, planned to support around forty people for its first year. Less than 8 months after its launch, 80 entrepreneurs had already been welcomed by the program. In total, in 2023, more than 500 business people used the program's helpline to seek advice and support. The numbers don't lie: the needs are more pressing than ever. It is therefore with great humility and a larger cohort of professionals and specialists ready to help that the program confirms additional funding, which will double the program's capacity for 2024.
« I would like the program to no longer have a reason to exist. Unfortunately, the reality is that the needs are so great that Entrepreneurial Perseverance is not enough to meet the demand. ". It is in these words that Nathaly Riverin, founder of Entrepreneurial Perseverance, CEO of Rouge Canari and Think Tank in entrepreneurship, also recognized as one of the founders of theBeauce Entrepreneurship School.
« Our primary mission is to speak to people in distress who call us. Listening, references, tools, we help them as best we can but our intention is to support them over a year with the Perseverance program », adds Nathaly Riverin. The good news is that thanks to this new financial assistance, Nathaly and her team will be able to welcome 100 more people over the coming months!
« The success and recognition of our business people are among the priorities of the Quebec Entrepreneurship Plan. With initiatives like the Entrepreneurial Perseverance program, we give entrepreneurs the means to face challenges and innovate in their field. », Says Christopher Skeete, Minister for the Economy, Minister responsible for the Fight against Racism and Minister responsible for the Laval region.
THE IMPORTANCE OF THE PROGRAM
For a perseverer who wishes to remain anonymous, the impact of the program is clear: “ Entrepreneurial Perseverance saved my life. If Nathaly and her team had not been there for me, I would not be here today ". The program is important at this point. The latest monthly statistical report from the Office of the Superintendent of Bankruptcy (OSB), which dates from October 2023, shows that 2629 Quebec companies declared bankruptcy or presented a proposal to creditors in 2023. Quebec is far ahead of its closest rival ( Ontario) with 1169. This represents nearly 60% of the country's bankruptcies, while the population of Quebec represents 22%. Unsurprisingly, it is the catering and construction industries that are most affected. “ There are solutions from different angles, but entrepreneurs are slow to open their books and ask for help », Says Nathaly Riverin. “ Quebec entrepreneurship is in decline. We must support or retrain our experienced entrepreneurs » she adds.
THE UNFORTUNATE PERFECT GUESS
The increase in interest rates in recent months has also made the situation worse. Entrepreneurs, no longer able to repay the loans they took out in order to reinvest after the pandemic, want to get back on their feet. “ All of these factors combined lead to the perfect juncture for the downfall of many businesses. People who call us are anxious and exhausted », adds Nathaly Riverin. It is obvious today that a program such as Entrepreneurial Perseverance is essential. No such program existed a year ago. The popularity of Perseverance demonstrates beyond any doubt that the needs are great and that if Quebec wants to stay in the race, it must help its entrepreneurs. “ We're not just saving businesses from closure. We help people who are often going through the most difficult times of their lives. They experience loneliness, shame, anxiety and extreme fatigue. We advise them, equip them with practical training, help them regain their motivation and identify concrete actions to put forward. We don't just make plans, we are in action mode », adds Nathaly.
TURNKEY SUPPORT
Addressing entrepreneurs across Quebec, Entrepreneurial Perseverance is open to companies of all sizes and from all sectors of activity, which are going through financial difficulties or whose physical and mental health of people is affected. Through the program, entrepreneurs benefit from a range of services, including 10 coaching sessions for non-judgmental listening and personalization of the program, 50 hours of training to be better equipped and find solutions quickly applicable to the challenges facing the business, privileged access to the expertise of a seasoned entrepreneur among our ten great perseverers including Martin Cousineau (Lobe), Jean Laflamme (South Shore), Nadia Bourgeois (ORÄ Partenaires), Evan Price (Auberge Saint-Antoine) , André Morneau (Groupe Morneau), or Dominic Gagnon (Connect and Go), to a cohort of entrepreneurs who experience the same challenges, with whom to share and to a team made up of people with remarkable experience, generous and with a desire common to help. Specialized professional services are also available to help weather the storm.
ABOUT ENTREPRENEURIAL PERSEVERANCE
Entrepreneurial Perseverance is an initiative that aims to create more businesses in the province. This measure arises from the PQE and more precisely from measure 4 of this plan, which is to “improve the offer of training adapted to the needs of entrepreneurs”. Several partners are associated with the program in addition to the Ministry of the Economy, Innovation and Energy, including the MNP, the Fondation Famille Lemaire, the École d'Entrepreneurship de Beauce (EEB) and Rouge Canari.
