Small businesses play a critical role in Saskatchewan’s economy, but starting a new business often comes with major challenges such as understanding the market, creating a strong business plan, securing financing, obtaining the right licences, and managing early-stage risks. To help address these barriers, the Government of Canada has announced CAD 910,000 in funding through Prairies Economic Development Canada (PrairiesCan) for the Saskatoon Regional Economic Development Authority Inc. (SREDA). The investment will support entrepreneurs and startups through the SK Startup Institute, an initiative focused on helping new businesses get off the ground across Saskatchewan.
The SK Startup Institute has built a strong reputation for supporting entrepreneurs by offering personalised guidance, practical tools, and access to experienced advisors. Its services are designed to help individuals turn business ideas into viable and growing enterprises. With this new federal investment, the organisation will expand its early-stage entrepreneurship support over the next two years in Regina, Saskatoon, and communities across the province, ensuring that founders in both rural and urban areas can benefit from the programme.
The funded support will include one-on-one business advising, workshops, training sessions, and entrepreneurship-focused events. To make the services accessible to as many entrepreneurs as possible across different sectors and locations, delivery will take place through multiple channels, including in-person meetings, phone and video consultations, and online platforms. This flexible approach is intended to ensure that aspiring business owners throughout Saskatchewan can access the resources and mentorship they need regardless of where they are located.
Government officials said the investment is aimed at helping more people transform innovative ideas into real businesses while creating opportunities in communities across the province. They highlighted the importance of organisations like SREDA and the SK Startup Institute in strengthening the Prairie economy by equipping entrepreneurs with mentorship, connections, and practical support. The funding is also expected to help foster job creation, business growth, and broader economic resilience in Saskatchewan.
SREDA leadership welcomed the funding, noting that every successful business begins with someone willing to take a chance on an idea. The organisation emphasised that the investment will allow the SK Startup Institute to reach more founders across Saskatchewan and support businesses that contribute to local economic growth and employment. Entrepreneurs who have previously worked with the institute also described its role as highly valuable in navigating the uncertainty of the early business stages and building confidence through access to the right resources and guidance.
Based on past performance, the SK Startup Institute expects to continue assisting around 1,250 entrepreneurs each year across all sectors and carrying out more than 3,000 business support interactions annually. Over the next two years, the project is expected to train 1,200 participants, provide 6,000 business advisory services, and serve 2,500 different clients. The initiative is supported under PrairiesCan’s Regional Innovation Ecosystems Program, which invests in not-for-profit organisations to help businesses innovate, grow, and compete while strengthening inclusive regional economic ecosystems.
