Financing options can range from personal financing, from family and friends, to loans from traditional Financial Institutions or organizations like Community Futures, BDC etc. (listed below), Angel investors to Crowdfunding options. Each one having their pros and cons. Take the time to understand what each financing option entails, interest rates, eligibility, etc. and determine what might be the best option for you and your business.
- 5C’s of Lending
- Funding a business
- Guide to Business Grants
- Grants, Contributions & Financial Assistance
- Loan calculator
- Community Futures ECA
- Business Development Bank of Canada (BDC)
- Alberta Women Entrepreneurs (AWE)
- AFSC Commercial & Farm Loan Program
- Apeetogosan (Métis) Development Inc.
- ATB BoostR
*all funding options will require a full business plan. For help developing your plan Contact Us
- Entrepreneurial potential self-assessment
- 4 steps to starting your business in Canada
- Start or Buy a Business
- Business Evaluation Checklist
- Canada Business Network
- Resources for the Entrepreneur
- Alberta Government Small Business Resources
- The Business Link
- Corporations Canada
- Alberta business permits & licenses information using BizPal
- Business Insurance
- Importing and Exporting
- Employers Guide to Employment Rules
- Worker’s Compensation Board Alberta (WCB)
- Canada Revenue Agency – Payroll
- Occupational Health and Safety Tool Kit
- Do you own a business that could be franchised?
The fact is, that a business plan is so much more. It’s a tool for understanding how your business is put together. How it functions as a whole. It forces you to review everything at once. You will end up spotting opportunities, connections, pitfalls, regulations, trends etc. you otherwise would have possibly missed. It connects the dots and pulls together the whole picture of how your business will run and be profitable. You’ll consider things like your value proposition, target market, marketing assumptions, operations plan, staffing plan, cash flow and so much more.
It is often described as a roadmap or GPS for your business.
The business plan is a dynamic document that helps you evaluate your business. It is a valuable tool for any stage of business.
Before deciding to skip this planning phase whether you are starting a business or are an existing business, consider all the implications and what they mean for your future success.
Tips for writing your plan
- Be clear and concise
- Avoid legalese, be yourself!
- Keep it professional
- Be realistic (with your research, competitors, your forecast, your costs etc.) it will only harm you if you are not!
- Do not be overly ambitious – you should be able to justify any assumptions or projections
- Be flexible in strategy and prepared to adapt to changes in your plan
- Do not hide risks, negatives, pitfalls – address them and tell how you will overcome them
- Do not mask financial difficulties, you and your lender need to be aware of difficult times, seasons etc. the ups and downs of all businesses
- Be prepared for scrutiny, constructive feedback
- Business Plan Template & User Guide
- Sample Business Plans
- Marketing Plan Template
*Have questions or need help with developing your business plan Contact Us.