Social enterprise initiative adds significant business service training for local entrepreneurs in rural islands and surrounding coastal communities.
K’ómoks Territory, Courtenay, B.C, October 2, 2024 – Rising Tide Business Services, led by the Rural Islands Economic Partnership, is set to expand its shared services for entrepreneurs across British Columbia’s rural islands and northern Vancouver Island. This initiative, moving forward with an investment by Island Coastal Economic Trust through its Capital and Innovation Program, will enhance services for start-ups and small businesses in the region.
Rising Tide Business Services is a unique and tested social enterprise. It debuted three years ago, offering affordable and professional digital marketing services tailored to start-ups and small businesses. Having successfully delivered marketing support to more than 70 clients, the organization now plans to scale up and develop into a self-sustaining social enterprise by offering a collection of business services that keep pace with changing technology. Bookkeeping services, the most requested need, will be the first new addition to their offerings.
The fee-for-service model is designed with a break-even price point, allowing for discounts on professional services of nearly 50% compared to standard contractor or agency fees. This model empowers entrepreneurs by providing them access to professional services, while enabling them to reinvest the savings into growing their businesses. The impact will be quantified through the number of businesses requesting the available services. Further impact measures will be collected through client surveys, allowing Rising Tide Business Services to demonstrate how their clients reinvested savings into their businesses and the local workforce.
The project began in August 2024. Beginning steps include identifying regional economic development associations and chambers of commerce to support marketing the services, developing an onboarding toolkit, and promoting the new bookkeeping skills and training support service. Rising Tide Business Services plans to onboard its first bookkeeping clients in October, helping business owners streamline workflows and increase efficiency with training and access to the latest accounting tools.
Rural Islands Economic Partnership serves rural island communities and rural, remote coastal communities. Rising Tide Business Services works across the same region, providing essential business support to entrepreneurs, and rural communities on northern Vancouver Island, including Port Hardy, Port McNeill, Port Alice, and Ka:’yu:’k’t’h’/Che:k’tles7et’h’.
Learn more about the project and its services on the Rising Tide Businesses Website.
Island Coastal Economic Trust is investing $25,000, in partnership with the Rural Islands Economic Partnership, towards a total budget of $50,000 through the Trust’s Capital and Innovation Program for its focus on Innovation and Technology.
Quotes
“The launch of our bookkeeping services is building on Rising Tide’s success supporting the rural business needs of micro and small business across BC’s rural island and remote coastal communities. First launched in 2021 with the successful delivery of digital marketing services and solutions. RIEP’s Rising Tide Business Services will now be able to leverage this success with the addition of bookkeeping to our continuum of services. We are committed to providing scalable solutions that address the specific needs of start-ups and small businesses at an affordable price point.” – Francine Carlin, Executive Director, Rural Islands Economic Partnership.
“We’re investing with the Rural Islands Economic Partnership to commercialize their social enterprise business model, bringing their management consulting services to entrepreneurs and small businesses across the coast.” – Brodie Guy, CEO, Island Coastal Economic Trust.
Media Contacts
Jeff Bartlett
Communications and Impact Manager
Island Coastal Economic Trust
jeff@islandcoastaltrust.ca
250-871-7797
Francine Carlin
Board Chair and President
Rural Islands Economic Partnerships
chair@ruralislandspartnership.ca
250-653-4025
