October 19 - 25 is Small Business Week in Canada. For any business owner, the ability to adapt is key to both survival and success. This is especially true in today’s world—from managing cash flow to finding skilled workers to staying on top of tariff developments, the challenges are constant and evolving.

To gain a firsthand perspective on the ups and downs of running a business in the current economic environment, as well as how small business owners are looking to the future, we spoke with Dean Ransom, ATB client and owner of Alberta Sound Framing, a residential construction company in Edmonton.

A double-edged sword 

Alberta has been experiencing a veritable population boom, adding over half a million new residents over the last three years. This has presented both opportunities and challenges for Dean’s framing business. The influx of people has created more demand for new housing and, in turn, more business for Alberta Sound Framing. The growth also attracted a lot more tradespeople to the province, which has allowed Dean to find the workers he needs.

That larger pool of tradespeople, however, has also meant more competition. And, with tariffs and a slower pace of population growth now in play, there is less work to go around.  

The right tool for the job

Like every savvy business owner, Dean is always looking for ways to improve and stay ahead of the competition by investing in new equipment and taking advantage of the latest tech.

Dean recently invested in a roto telehandler—a machine that functions as both a forklift and a crane—to boost productivity on the job site (see the photo below). While it was a major expense, he views it as an investment in the future of his business.

Dean is also looking into opportunities like leveraging AI to speed up the use of construction drawings by reducing the amount of information that has to be inputted manually.

A strong foundation 

A strong foundation is critical in construction and the same is true when starting a business. Dean was motivated to start his company because he enjoys building and working with wood. Being passionate about, and enjoying what you do, makes navigating the challenges more manageable.

When asked about the most important lesson he's learned as a business owner, Dean didn’t hesitate: treat people well. Whether it’s his staff, clients, or others in the industry, a good reputation is key to future business, and your ability to attract and retain employees. Dean highlighted the ongoing challenge of retaining good staff, and knowing the right time to let go of those who aren't a good fit.

Building for the future

Looking ahead, Dean is focused on doubling the size of his business to help "smooth out the ups and downs.” At the same time, Dean has learned that it’s a careful balance; having scaled too quickly in the past, growth must be sustainable.

His advice for young people is to consider getting into the trades, where skilled workers will be in high demand as more and more older workers retire. 

Ultimately, Dean stresses that rolling with the punches (to the tune of Bryan Adams) and navigating all that entrepreneurship throws at you is easier when you treat people well, and are proud of the work you do. In the end, no matter your business, success will always depend on “good employees and good customers."

On behalf of The Twenty-Four team and ATB, we’d like to thank Dean for taking the time to share his insight on the challenges, and opportunities, facing entrepreneurs in Alberta today.

You can access expert advice for entrepreneurs and learn more about ATB’s small business services here.

Answer to the previous trivia question: Liquid propane boils (from liquid to vapour) at -42 °C.

Today’s trivia question: According to the latest report from the Canadian Federation of Independent Business (CFIB), what were the top two concerns cited by Canadian small business owners in September?