BDC Bank of Canada hosted the Young Entrepreneur Awards gala in Ottawa on October 20th as part of the Small Business Week celebrations. Each of the Atlantic Provinces is the proud home of an outstanding up and coming small business owner who has made exceptional strides while facing the challenges of the global economic downturn.

Selected by a jury of their peers for their business panache and savvy, these four outstanding business leaders, all under the age of 35, are a Chinook winds in this cold economic climate.

All nominees were judged using the same criteria: the company's success and growth potential, innovation and community involvement. The panel also considers the company's export performance, the entrepreneur's age when the business was established, and any special challenges that were overcome.

The Atlantic Canadian winners are:

City Glass and Locks – Bathurst, NB

Owned by Allain Oulette since 2004, City Glass and Locks was able to grow their commercial sector of their business by 70% and from their humble Bathurst community (pop 3,424) are able to serve the needs of the entire province as well as contribute nearly $500,000 to the Bathurst economy.

Cycle Solutions – Corner Brook, NL

Opened seven years ago by Peter Ollerhead, Cycle Solutions is more then just a repair and retail cycling store. It hosts community cycling events and offers tourism packages to visit western Newfoundland. Also, a side venture-Brewed Awakening Coffee-that was meant to attract more business to the cycling store has also taken on a life of its own. In addition to being a cycling entrepreneur, Ollerhead is the only coffee roaster in the western region of the province.

Ollerheads business efforts were also praised by PM Stephen Harper at the gala, who said: “His hard work and entrepreneurial spirit is driving our country’s economic success and makes our future look promising. Now more than ever, Canada needs dynamic and forward-looking young business leaders to shape our future economic success”.

Taly Thai – Halifax, NS

This restaurant, a family run business started by three siblings, has been getting rave reviews since 2005. In its opening year, the restaurant was nominated in Where Magazine as one of the top ten best restaurants in Canada. The only maritime restaurant to make the list. The key to their business success was meticulous market research (they positioned their restaurant very close to Dalhousie University) and a fresh approach to Asian cooking that keep a loyal client base lining up every night. This triple threat family is branching out into the franchise business in the coming months.

UFIT – Charlottetown, PEI

Eireann Rigby stepped here way onto the podium with her innovative approach to group fitness classes. Islanders will show up in the 100s at more then 20 classes per week across the province. They show up because Rigby has built a community rather than just another a-typical gym class. Her open minded business concept has attracted clients from young children to their 70’s. Her passion to ignite positive and long-term change, in her clients and her community, has helped her business succeed.
ECC’s newsletter will endeavor to sit down with each of these up and coming business leaders to learn more about the secrets to their success. Stay tuned.