From Banking to Building: Ian Tolliver's Work in Breaking Ground and Barriers
Ian Tolliver, President of Tolliver International
Ian Tolliver has a dream. He wants to see his name displayed proudly across a building he constructs. It wasn't a sudden decision; it was a dream that began as a humble cornerstone in his childhood and has been under construction for decades. “It was a dream that I had when I was like four or five or something like that. When I saw my name on a building, I didn't know what it was, but I could remember it, as if I had the dream last year. So, I just thought the construction was going to be the final thing, but I just had to go through a number of steps to get there.”
He first started out in computer science as a student before eventually transitioning to the banking sector some years later. It was while working as loans officer that he came to understand the potential the construction industry has for wealth creation. “…when I was at the bank, I seeing started large construction loans for like, you know, $30-$40 million, $60 million and saying… something like maybe I'm in the wrong industry.” His unique skills and vantage point as a commercial construction loan analyst gave him the insight needed to take the leap into the construction industry and to eventually start his own company.
As the President of Tolliver International, the first Black cost consulting and quantity surveying firm in Canada, Ian isn't merely a project manager; he's the chief engineer of financial precision. Here, he puts his talent with numbers to use, deftly managing tenders, deciphering subcontractor bids, and navigating the intricate maze of budgets and cost control.
Ian's story is important, not just because highlights great personal achievement and ambition, but also because it underscores the 'concrete ceilings' and lack of diversity present in the skilled trades industry. The conspicuous absence of leaders, managers, or owners who resembled him in the construction industry fueled his determination to carve a path of his own. Tolliver International isn't just a business; it's a symbol of hope and opportunity for people of color in a landscape where they have traditionally been underrepresented.
Career Options in Construction
Ian's perspective sheds light on a significant gap in awareness within the Black community when it comes to the diverse career possibilities within the construction industry. There has been a prevailing perception that construction serves as a secondary option, a fallback if university plans veer off course. This notion has led to a lack of exposure to the multifaceted nature of the industry. In reality, the construction sector offers a myriad of pathways with a demand for skilled trade talents, as well as those proficient with numbers. “It's not really taught a lot in the communities. I didn't really know that this was an actual career, but as time went on, I kind of found out about it later on in life. So, I think if they're taught younger, that you might be good with your hands, but you might not want to be a carpenter—you might not want to be electrician, but you know you're good with numbers or you' re more introverted and you're really good with budgeting and so costing and quantity surveying would be an avenue for you. But that's not really taught, especially in the Black community. It's like construction is a second. Like, if the university thing doesn't work out, then, it's like a fall back. But people are not realizing that it can be a first option.”
Furthermore, as Ian rightly observes, the industry's managerial and cost consulting facets remain a predominantly uncharted territory for Black individuals. While they may be better represented in the physical execution of projects, there is a marked absence in the decision-making and strategic roles. This imbalance highlights the pressing need for comprehensive and inclusive practices throughout the entire industry pipeline – from training to hiring and retention.
It was for this reason Ian launched the Ontario Black Contractors Association (OBCA). This Association serves the pivotal role of advocacy for the rights and interests of Black contractors across Ontario as well as a resource for education, enlightening contractors about navigating contracts and enabling them to confidently bid on substantial government projects. Additionally, their impact extends far beyond advocacy; they also push for collaboration and partnerships among Black contractors in order to collectively undertake larger projects.
Furthermore, Ian's vision extends beyond the borders of Ontario, aiming to replicate this blueprint in Nova Scotia and ultimately, across all provinces. This expansion promises to echo the call for representation and inclusion throughout Canada, ushering in a new era of opportunity and empowerment for Black contractors, and reshaping the construction industry into a more diverse and equitable landscape.
Access to Financing: Under Construction
Ian Tolliver's unique vantage point, stemming from his background in the banking sector, has undoubtedly provided him with valuable insights and connections that have propelled his endeavors. However, it's crucial to acknowledge that not everyone possesses such a fortunate springboard into the world of entrepreneurship, especially in an industry like construction. Ian himself recognizes the disparity in access to resources, citing the challenges faced by many Black-owned companies when trying to secure grants meant for their community.
Although steps have been taken to increase Black entrepreneurs' access to financing, one of the major stumbling blocks Ian points out is the cumbersome paperwork and bureaucratic hurdles that often deter Black entrepreneurs from accessing these grants. To address this issue, Ian advocates for a more streamlined and accessible application process. “So I think making it easier and having people who are entrepreneurs for instance, who are making the decisions on who gets the money, I think, [be]cause a lot of the decisions are made from people who are not even entrepreneurs themselves. They work for a nine to five.”
The House of Cards
The construction industry, with its colossal sums allocated for developments, holds an undeniable allure for those with aspirations of financial success. It presents a promising avenue for wealth generation, particularly for Black entrepreneurs who are eager to seize opportunities in a rapidly changing landscape. As Canada experiences an influx of immigrants, the demand for housing continues to soar, amplifying the industry's potential as a wealth generator.
However, a significant challenge looms on the horizon. Many Black entrepreneurs encounter barriers when attempting to secure financing from traditional banking institutions. This financial roadblock compels them to explore alternative sources, often resorting to lenders who impose exorbitant interest rates. In the best-case scenarios, these high-interest loans erode a substantial portion of the profits that developers could otherwise have reaped from their projects.
In the worst-case scenarios, the financial stakes become a house of cards. Rising interest rates compound the problem, pushing developers into a precarious situation. They often use their developments as collateral for these loans, putting their hard-earned projects on the line. Tragically, some developers, unable to anticipate or cope with these escalating interest rates, ultimately lose their developments, rendering what should be a thriving sector into a risky endeavor, particularly for Black entrepreneurs, who have historically struggled to secure financing for their entrepreneurial endeavors. It is for this reason, Ian emphasizes the importance of distinguishing between loans and grants. While loans may be readily available through traditional financial institutions, grants offer a lifeline to those who may not have the means to repay loans. Therefore, he calls for a more strategic approach in crafting financial assistance programs to ensure that they align with the diverse needs of the Black community.
Fortunately, for Ian, his unique background in banking and construction loans along with the support of his wife who is a prosecutor, has given him the network necessary to bootstrap his operations. Acknowledging the Divine hand that has guided his journey, Ian credits his success so far to his determination, his wife, his faith and God. “…not everyone can do that… I just thank God I’ve been blessed over the years to be able to do that.” Nevertheless, Ian has sights on higher heights and broader horizons. He wants to go beyond cost consulting and quantity surveying and venture into developing. Furthermore, Ian stated that he named Tolliver International with the intention of going global.
Ian Tolliver stands not only as a symbol of individual accomplishment but also as a call to action, a beacon of hope for a more inclusive and equitable future within the construction industry. His story reminds us that, with the right support and determination, even the most challenging of landscapes can be reshaped into a place where dreams can be built, one brick at a time.