[ THE KEY TO YOUR SUCCESS ]
EEYOU ECONOMIC GROUP
Community Futures Development Corporation Inc.
(EEG/CFDC Inc.)
The following links will take you to web sites that offer business development information and services specific to Aboriginal businesses.
Aboriginal Business Service Network
The Aboriginal Business Service Network provides a single point of acccess to information on government programs, services and regulation for start-up Aboriginal entrepreneurs and existing businesses on topics such as business planning, starting a business, marketing, funding, exporting and much more.
Canadian Executive Service Organization (CESO)
The Canadian Executive Service Organization (CESO) is a unique volunteer-based, not-for-profit development agency. CESO provides economic development expertise to Aboriginal and non-Aboriginal Canadians.
First Nations of Quebec and Labrador Economic Development Commission (FNQLEDC)
The FNQLEDC is an organization which shares knowledge and recognizes the access to “quality information” as an essential condition to make a decision in the best interest of the community. The Commission devotes its efforts to the support, training and promotion of its members, and to the socio-economic development of the First Nations of Quebec and Labrador insofar as the actions meet the needs of the members.
The following link will take you to a web site that offers loans and grants to Aboriginals in Canada as well as offering some business services.
Aboriginal Business Canada
The federal government recognizes the unique contributions that Aboriginal businesses are making to Canada's economy. That is why the government operates, within Industry Canada, the Aboriginal Business Canada program-to provide business services and support to Indian, Inuit and Métis people.
Aboriginal Business Canada targets small businesses, in particular, and is increasing its emphasis on supporting proposals which involve the expansion of domestic and export markets, Aboriginal tourism, technology adoption and enhancement, and youth entrepreneurship. Both financial and non-financial assistance are available.
Business Development Bank of Canada (BDC):
Aboriginal Business Develoment Program (ABDP)
The Aboriginal Business Development Program is intended to maximize Aboriginal people's participation in the economy through business development. The program provides support to Aboriginal entrepreneurs for a range of activities including business planning, start-up, expansion and/or marketing.
BDC E-Spirit
E-Spirit is a national Aboriginal youth business plan competition sponsored by BDC for Aboriginal youth in grades 10 to 12. Each year over 500 Aboriginal students across Canada participate. Since 2001, E-Spirit has introduced over 5,000 students to entrepreneurship. BDC contributes over $300,000 per year to the competition.
Often when people think about becoming an entrepreneur they think about the good things that go along with owning your own business. Things like, being your own boss, making a lot of money, taking time off without having to answer to anybody. Although yes, these can be some of the perks of going into business for yourself often the reality of owning your own business is a lot of hard work and the 'perks' are sometimes long in coming. When you own your own business, you may not have to ask to take a day off but in many cases, it is likely you won't have the time anyway! Just keep in mind that owning your own business has its pros and cons, its ups and its downs, all of which should be carefully considered before taking the leap into the world of 'entrepreneurship.'
Downloads
EEG_entrepreneurial_assessment_test.pdf
This document is designed to give you some insight as to whether or not you have the characteristics and personality traits generally associated with entrepreneurs.
Links
For more information on becoming an entrepreneur including additional on-line assessment tools visit the following web sites:
Check out the Monster Tools, Quizzez and Career Advice
Check out the 'help & how to' section and how to grow your own business
The more you know about business planning, the better off you will be. Take the time to visit a number of different sites that focus on business planning. As you browse the Internet, you will begin to see that although different sites have different approaches and different outlooks, the basdic information is the same. The more you read the more you will begin to develop your own opinions and formulate your own ideas on the steps you need to take for planning and operating your business.
The following links will take you to web sites that offer business development information and, in some cases, financial support services to all businesses.
Business Owners Toolkit (CCH)
This site offers a wide range of useful and well organized information about business planning including advice for those of you already in business. Lots of helpful hints on marketing and finances. Please note, this site is geared for an American audience so information about taxes and legal issues should be used as reference only as the tax laws and legal structures for businesses operating in Canada differ.
Business Resources and Financial Assistance
IDEASME
The IDEASME Program provides a wide range of information and consulting services to small and medium-sized enterprises in Quebec. It also provides financial assistance for projects that promote:
- innovation, research and development, and design
- market and export development; and
- entrepreneurship and a better business climate
In each of these areas, the program provides information and guidance, promotes small business growth and exports, facilitates access to flexible financing and supports strategic "catalyst" projects in response to regional or sector needs.
Writing a business plan is a critical first step in the business planning process. A business plan will help you crystallise and focus ideas as well as identify your priorities. A primary goal of any business plan is to set out the strategy and action plan for your business for the next one to three years. In essence, a business plan forces you to think ahead and acknowledge the possible pitfalls that you may encounter during both the planning and operational stages of your business.
What's in a Business Plan?
A business plan follows this basic structure:
- Executive Summary - summarizes your overall business plan by highlighting the key points in two pages or less
- Company Summary - a clear description of your company, ownership, and history
- Products and/or Services - a descriptoin of your products and/or services and how they stand out from competitive products and services
- Market Analysis - a summary of your typical customers, competition, market size, and expected market growth
- Strategy and Implementation - a description of how you will sell your product, how you will put your plan into action, and the goals and objectives of your business over a given period of time (usually three year)
- Management Summary - background on the management team, their experiences, and work related accomplishments
- Financial Plan - key financials statements including sales forecast, cash flow, and profit and loss
This document is designed as an outline for writing your business plan. If you follow this outline, your completed business plan is sure to contain all of the information required by EEG as well as other financial institutions.
Legal Structure
One of the decisions you will have to make fairly early in your business planning is how to set up the legal structure of your business. There are advantages and disadvantages to each of these set ups. What you are looking for is the legal structure that works best for your business and personal needs. Following is a brief description of four common legal structures.
Sole Proprietorship
A business owned and operated by one person.
Partnership
An association of two or more people who agree to share in the profits and losses of a business venture. Each partner makes a financial contribution which can include money or property, a professional contribution which can include work or expertise, or both.
Limited (Partnership)
A form of partnership that consists of one or more general partners, who actively engage in the business, and one of more special partners, who are not liable for the debts of the partnership beyond their initial financial contribution.
Cooperative Business
Cooperative businesses are formed to support a group of people who do similar work and use similar products and services. They are owned by the people they serve, and they support the joint goals of the people who own them, (who might have trouble succeeding if they used only their own means). Cooperatives provide a community-based approach to business and shared resources.
Downloads
This document is a list of Advantages and Disadvantages of the different legal forms of business.
Links
To find out more about the different legal forms of business visit the following web sites:
Writing a business plan
Comparison of Different Legal Structures
Business and Legal Structure
Marketing
In order for EEG to consider your request for a loan, a business plan must be submitted along with your loan application form. An extremely important component of your business plan is the marketing section.
Every business owner, whether your business is small or large, needs to know the market potential for the product or service being sold. Launching a new business without first identifying your target market and conducting some basic market research is a very risky thing to do. Some of the key questions you will need to address in the marketing section of your business plan are:
- Who are my customers and potential customers?
- What kind of people are they?
- Where do they live?
- Can and will they buy?
- How can I reach them?
- Am I offering the kinds of goods or services they want?
- Are my prices competitive?
- Who are my competitors?
Links
For more information about market research and how to conduct market research visit the following web sites.
Small business Planner and Market Research
How to Conduct Market Research
12 Poplar Street, Waswanipi, QC, J0Y 3C0
Phone: 819-753-2560
Fax: 819-753-2568
Email us:
Cree Outfitting and
Tourism Association
First Nations Quebec
Business Network
Reseau SADC-CAE
National Aboriginal Capital Corporations Association
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