Entrepreneurial Mindset For Government

What can government do to foster a dynamic, innovative, entrepreneurial mindset?

This was the question raised by the Honourable Diane Ablonczy, Federal Minister of State (Small Business and Tourism) at a February 27 roundtable, hosted by The Centre for Entrepreneurship and Family Enterprise (CEFE) at the University of Alberta School of Business.

Participants – key stakeholders in economic development – had no difficulty in responding to Ablonczy.

Professor Lloyd Steier, Director for CEFE (pictured with Ablonczy), noted that “One of the greatest predictors of an entrepreneurial mindset, is having a parent who is entrepreneurial.  We need to recognize and support the role that family enterprise plays in entrepreneurial innovation and job creation.”

Participants also suggested government:

• Help small and medium-sized businesses achieve greater productivity by eliminating inter-provincial regulations, particularly in areas of transportation and trade certifications
• Recognize how important it is for start-ups to get that first big sale and encourage government and large Canadian companies to set aside a small percentage of their purchasing power to support early stage companies
• Keep free trade doors open
• Continue to support university programs that encourage technological commercialization, couple solutions to real world problems, and provide access to business mentoring
• Promote the use of tax free savings accounts as means of investing in start-ups since the return on these accounts will never be taxed and could potentially yield dramatic results.

Ablonczy said a recent demographic study predicts significantly fewer people will be entering the workforce in the near future. Though currently masked by the market downturn, problems of finding and retaining skilled workers will affect any entrepreneurship strategy. She encouraged participants to engage in planning for this reality.

Roundtable participants were:

• Bob Carwell, Edmonton Economic Development Corporation
• John Cormier, Picomole Instruments
• Shauna Feth, Creating Pathways for Entrepreneurial Families
• Pamela Freeman, TEC Edmonton
• Ron Gilbertson, Edmonton Economic Development Corporation
• Peter Jaskiewicz, University of Alberta
• Michael Lounsbury, University of Alberta
• Peter Pellatt, University of Alberta
• Lee Ready, Ready Engineering
• Steve Slupsky, Scanimetrics
• Rodney Schneck, University of Alberta