TORONTO, March 4 /CNW/ - Scotiabank, in partnership with the Canadian Federation of Independent Business (CFIB), have launched the Small Business Big Impact Challenge, which shines a spotlight on small business owners who are positively impacting their communities in the areas of employment, innovative products and services, as well as leadership.

"At Scotiabank, we recognize that small businesses play a vital role in building strong communities. Much more than just a place to purchase food or to get a car serviced, they contribute in ways which make our communities better places to live, for each one of us," said Islay McGlynn, Managing Director and Head, Scotiabank Small Business. "With the Small Business Big Impact Challenge, we want to recognize and reward small business owners who have made an impact on their community by going above and beyond to meet not only the needs of their customers and employees, but the community at large."

"Small businesses are small in name only," commented Aron Gampel, Deputy Chief Economist, Scotiabank. "Small businesses are the backbone of the Canadian economy, providing big support to the nation's G7-leading performance. Small businesses are not only big generators of jobs in goods and services throughout the country, but they are also big contributors to the investments and exports that are important drivers of growth."

To qualify for the Small Business Big Impact Challenge, entrants must demonstrate how their business has made a difference in the community where they live and work in one of the following three categories:

• Providing Employment: Implementing employment practices that reflect and support community needs as well as employment opportunities.
• Offering Products or Services: Creating new industries or ways of doing business, or offering unique products or services that benefit their community.
• Demonstrating Leadership: Taking a leadership role in initiatives for their community that ultimately makes it a better place to live and work.

"Beyond their indispensable role as job creators and innovators all across Canada, small businesses start as the heart and soul of their neighbourhoods and have a hugely positive impact on community prosperity and identity," enthused CFIB president, Catherine Swift. "In conjunction with CFIB's 40^th anniversary and during 2011, the federally designated Year of the Entrepreneur, we are delighted to be partnering with Scotiabank in support of those small business owners who stand out amongst an already outstanding group of peers."  

For more information on the Challenge visit www.getgrowingforbusiness.com/challenge. The challenge ends on April 30, 2011. All Canadians are encouraged to visit the website as everyone can vote for their favourite small business.

The top 15 entries, five in each category, will be presented and evaluated by the Expert Small Business Judging Panel, which will then select the three finalists to be awarded $10,000 each. The Expert Small Business Judging Panel consists of:

• Islay McGlynn, Director and Head Small Business, Scotiabank;
• Kaz Flinn, Vice-President Corporate Social Responsibility, Scotiabank;
• Catherine Swift, CEO, CFIB;
• Tom Sloan, Vice President Small Business and Commercial Markets, Export Development Canada; and
• Greig Clark, PROFIT Magazine columnist, and founder of College Pro Painters.

About Scotiabank

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $526 billion (as at October 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

About the Canadian Federation of Independent Business (CFIB)

As Canada's largest association of small- and medium-sized businesses, CFIB is Powered by Entrepreneurs™. Established in 1971, CFIB takes direction from more than 108,000 members in every sector nationwide, giving independent business a strong and influential voice at all levels of government and helping to grow the economy. www.cfib-fcei.ca.