Questions to Ask Yourself:
Here are some things to consider before contacting SEDC:
- What product or service are you looking to sell?
- Have you identified or researched your market?
- Who are your customers?
- Who are your competitors?
- What start-up costs (registration & licensing, building, equipment, supplies, etc.) do you expect?
- Have you considered what form your business would best operate under? (ie: sole proprietorship, limited partnership, corporation)
- What financing may be needed? Do you need help with funding?
- Do you have equity (cash or in-kind) to contribute to the business?
- Are you going to develop a sales & marketing plan?
- Have you projected your production costs?
- What Federal or Provincial regulations affect your business? (environmental, health, safety, etc.)
These are only some of the questions which need to be investigated when looking at starting a new business.
Business Advisory Services
- Assistance in Business Plan Preparation and Review
- General Business Information & Demographics
- Government Programs & Training re: Business Management
- Export Readiness Information
- Assistance in negotiating loan packages with other lending institutions
- Assistance with registering your business
(by appointment; fee is $60 - so bring a credit card as we don't handle cash; Visa, Master Card and American Express accepted)
- Assistance with business name search (fee of $8.00 applies - with credit card as above.)
- Funding is available which will create new jobs or maintain existing jobs.
- Term loans up to $250,000 will be considered for the purchase of equipment, leasehold improvements, inventory and operating capital.
- Interest rates based on business proposal and risk.
- Loans in the form of term, equity and guarantee may be approved by the Board of Directors.
- No Grants or Forgiveable Loans.
Loan requests are assessed on the basis of:
- Business plan viability
- Management expertise (ie: Qualifications - experience, ability, etc.)
- Job creation/maintenance and average cost per job created/maintained
- Owner Equity (typically 25% of total project)
- Security (ie: Property, Assets, 3rd Party Guarantee, etc.)
- Program criteria