Inflation, supply chain security and keeping talent are a few problems facing local small business owners, according to the incoming CEO of the Sarnia-Lambton Business Development Corporation (SLBDC).
Sarah Reaume is taking over the role from the retiring Don Anderson at the end of March.
Reaume, the former CEO of Habitat for Humanity Sarnia Lambton for just over nine years, said every challenge, economic or otherwise, brings inherent opportunity.
"The SLBDC's mandate is to offer support to small business owners and by doing so, I think create permanent, long-term employment opportunities. And we know that when we do that and those opportunities are created, the downstream effects of them are significant and they impact really every business sector."
Reaume said while there are many challenges that local businesses are facing, there are a few that stand out.
"Certainly inflation and the current economic downturn would have to be at the forefront of every businesses' concern no matter the size, and scrupulous cashflow and financial management is more important now than ever. Then again, depending on your business, there's still a degree of challenge in supply chain security."
Reaume also thinks it's more difficult than ever to keep talent, especially in a community like Sarnia-Lambton that's so reliant on trade-based talent.
Reaume said her knowledge of the Sarnia-Lambton community will definitely benefit and impact her success in her new role.
"During my tenure with Habitat, I had the privilege and opportunity of working with business, industry, community organizations, other NPOs, with municipalities and city and county government at all levels, and while I have lived and worked around the world, Sarnia-Lambton is my home."
Don Anderson SLBDC General Mgr (Photo via BDC website)
Anderson was SLBDC's general manager for the past 13 years. He talked about why he's stepping away from the role.
"It's one of those things that I think it's a good time given where the corporation is and certainly on a personal level it's an opportunity to do a number of things that we want to do because we're only each allotted so many rotations around the sun and we're coming to the tail-end of the that for me," he said. "Certainly we're looking at travel, more time with family, a few little projects and maybe a little bit more in-depth hobbying things."
Anderson said he certainly worked with a great team during his time with the organization.
"Looking at the opportunity to work with businesses in the community and see some businesses start up and move forward successfully and through that time we were able to provide financial support to almost 350 businesses."
Anderson said they also worked with almost 2,600 businesses in terms of counselling and other supports.
He added that he's excited to see Reaume coming into the role.
"She knows the community well, she's a proven leader and I think she'll be a terrific leader for the group."
- With files from Natalia Vega and Josh Boyce