The experienced staff at Venture Niagara understands small business and the local marketplace. They provide important services to businesses and entrepreneurs that may include:
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Business advice, information and referrals |
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Assistance with business plans |
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Export support |
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Entrepreneurial training |
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Information on relevant federal and provincial programs and services |
Starting a small business can be a rewarding venture providing you have the proper information and tools to make the right decision. This website will provide entrepreneurs with the links to information and resources needed to make informed and educated choices in their business career paths.
A vast array of websites exist to help entrepreneurs with their business choices. We have selected a few useful links to help you in developing your business. The "Starting Your Own Business" section is divided into seven different parts:
Introduction to Business Startups
There are many reasons for wanting to start a business including the desire to make money, personal independence, escaping the stress of potential job loss or unemployment. While all these reasons may be good ones, the decision to start your own business must be based upon sound financial and business practices. Business startups may consume a major financial and time commitment, but without proper planning the potential for greater losses exists.
Links:
Starting a Business in Ontario
http://www.cbsc.org/
Sound Strategic Plan to Establishing Your Own Business
http://www.2.ontario-canada.com/English/business/StartBiz/intro.htm
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Determining Your Entrepreneurial Spirit
The decision to enter into business may have greater implications than any other decision made in a lifetime. Before determining the type of business, the name of business or the location of your business, entrepreneurs must evaluate themselves to determine if they have the capability and motivation to be self-employed.
Links:
http://www.wd.gc.ca/eng/tools/xindex.asp
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Writing a Business Plan
The Business Plan could be the single most important document in the life of your business. An initial business plan will provide an indication to banks of how much you require to start the business; to investors the amount of return they will receive; to employees and partners the future plans of the business and to yourself a guide to evaluate your operations.
A business plan should accurately depict potential revenues and expenses, yet be flexible enough to incorporate unexpected changes or future updates.
Links:
What is a Business Plan and What Should it Contain?
http://strategis.ic.gc.ca/sc_x/engdoc/starting_business.html?guides=e_sta
Developing an Effective Business Plan
http://www.us.deloitte.com/growth/guidebooks/default.htm
How to Prepare a Business Plan Using the "Business Start-up Assistant"
http://bsa.cbsc.org/gol/bsa/interface.nsf/engdoc/0.html
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Financing Methods
Many people require financial assistance prior to beginning their business. Whether the assistance is from family or friends, a financial institution or an investor, the following section will describe the level of detail that lenders require from applicants.
Links:
Strategis Canada
http://strategis.ic.gc.ca/sc_mangb/sources/engdoc/homepage.html
Bank of Montreal
http://www.bmo.com/business/business.html
CIBC
http://www.cibc.com
Toronto Dominion Bank
http://www.tdcommercialbanking.com/financing.jsp
ScotiaBank
http://www.scotiabank.com/cda/eventdetail/0,1605,LIDen_SID43,00.html
Royal Bank of Canada
http://www.royalbank.com/sme/index.html
Business Development Bank of Canada
http://www.bdc.ca/
Canadian Venture Capital Association
http://www.cvca.ca
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Regulation and Taxation
Regulations and taxation policies change frequently thus it is important to note that the information found in this section, while accurate at the time of preparation, may become obsolete over time. It is the responsibility of the entrepreneur to research any changes to the regulations and taxation policies.
Links:
Taxation
http://www.2.ontario-canada.com/English/business/StartBiz/chapter5.htm
Municipal Licenses Corporation of the City of Welland
411 East Main Street Welland, Ontario L3B 3X4
905-735-1700
http://www.city.welland.on.ca
Municipal Licenses Corporation of the City of Thorold
P.O. Box 1044, Thorold, Ontario L2V 4A7
905-227-6613
http://www.thorold.com
Municipal Licenses Town of Pelham
20 Pelham Town Square, Fonthill ON L0S 1EO
905-892-2607
http://www.town.pelham.on.ca/
Canada Customs and Revenue Agency GST Office
32 Church Street St. Catharines, Ontario L2R 3B6
(905)688-3523 or 1-800-959-5525
http://www.ccra-adrc.gc.ca/
Ministry of Agriculture, Food and Rural Affairs
http://www.gov.on.ca/OMAFRA/english/rural/index.html
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Labour Legislation
The information contained in this section may change as policies and legislation changes. To receive the most up to date information we strongly recommend that you visit the local Ministry of Labour office located at the address found below.
Individuals just starting a business should be aware of the following labour legislation to determine if it applies to you: Employment Standards Act, Minimum Wage, Vacation Pay, Source Deductions, Worker’s Compensation and Occupational Health and Safety.
Links:
Ontario Ministry of Labour
http://www.gov.on.ca/LAB/main.htm
Workplace Safety and Insurance Board
http://www.wsib.on.ca
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Marketing and Promotions
Market or customer research includes analyzing the demographics of your customer base and determining whether this population will consume or purchase your goods or services. In some cases, thorough market and customer research, while requiring an upfront financial commitment, could save people more money in the long run. The statistics found in a market research report will give a clear indication of the potential success of the business.
A strategy for marketing and promotions, while necessary for a good business plan, usually occurs as the final step in the business preparation.
Links:
Marketing Plan
http://strategis.ic.gc.ca/SSG/be00135e.html
Marketing Your Business
http://www.sb.gov.bc.ca/smallbus/workshop/pppp.html
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