Steady business is like still water, though it has depth, it doesn’t take you places. To achieve greater heights, you need to take the proverbial leap of faith. Business expansion can be quite tasking, especially when it comes to figuring out finance, consumer behavior, chalking out an expansion plan and many other details. How convenient would it be if someone could help you out in these business activities without burning a hole in your pocket? To answer that, here are Alberta’s best resources for your business’ growth.
The Canadian Youth Business Foundation is an organisation which supports budding entrepreneurs in their maiden ventures and also business owners who are looking to expand their current business. The CYBF offers a specific Expansion program which caters to established business owners who want to expand their business to greater heights. The only limiting factor is age of the applicant which should be between 18-39 years. Entrepreneurs with a minimum stable operational period of 36 to 60 months are eligible for this program. The amount offered by CYBF to eligible ventures is $10,000 and also an additional $30,000 may be sanctioned by Business Development Bank of Canada.
The Business Link
The Business Link is a not-for-profit organisation, jointly supported by the federal as well as provincial governments, aimed at helping first-time entrepreneurs with business advice and support to succeed. Most services offered at The Business Link are free of cost but marginal fees might be charged for enhanced services. Personal service is a priority at the Business Link with a panel of business specialists waiting at your service, helping you out with the nitty gritties of your business plan. Researching consumer behaviour had never been easier with the repository of information ranging from books, periodicals, tapes, directories, buyers guides, statistics, demographics and online subscription databases available at the Business Link offices. They also offer quick business sessions conducted by industry experts for the uninitiated at pocket friendly costs. Also, Business Link events are a good way to expand your business network. For expatriate entrepreneurs, The Business Link staff is well equipped to handle queries in various languages other than French and English. Their offices are located in Edmonton and Calgary.
The Canada Small Business Financing Program
Canada Small Business Financing program is a loan scheme by the government of Canada in support of small businesses with the help of financial institutions. Only start-ups and small businesses in Canada with gross annual revenues of $5 million or less can apply for the loan. Also, agriculture based business, not-for-profit organisations, charitable organisations and religious organisations are not eligible for this scheme. Under this scheme, you can finance 90% of your expansion plans including costs of buying new equipment, renovation of business place or buying a building for commercial purpose. The application process is very easy; you need to submit your business plan directly to a chartered bank or credit union or caisse populaire, which takes the call on your loan approval.
Edmonton is booming with opportunities, and with all the above resources and tools at your disposal, why wait to stretch your wings?Original Source