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Every business starts with an idea, but not every idea turns into a successful business. Turning your idea into a success story takes dedicated planning and research – who are your customers going to be? Are you going to have a storefront or sell online only? What are your costs? There are a lot of questions to answer before you can even open your doors. Our business advisors have the knowledge and skills you can rely on for help in making your business dream a reality.

Steps to consider:

Research and validate your business idea

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Determine where there’s opportunity to turn your idea into a successful business

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Gather information about potential customers, competition, and economic conditions in the area you plan on launching your business

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Will you be different from what’s already out there? What's your competitive advantage? How will you stand out? 

Write a business plan

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This is your roadmap to success. It’s the document that allows you to outline your structure as well as your operational, marketing, and growth plans

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Highlight your strengths, weaknesses, opportunities, and threats (SWOT)

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Use our Commercial or Agriculture Business Plan templates to get started

Determine start-up costs and working capital

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Start-up costs are one-time costs such as security, utility deposits, licenses, permits, and equipment

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Working capital is money needed to keep your business running and manage fluctuations in cash flow

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Explore funding options. There are investor groups and other sources of loans to start a business

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Include business location in your costs – whether you’re in a physical location or online there will be associated costs to consider

Canadian Small Business Financing Loans

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The Canadian Small Business Financing Program is a collaboration between the Government of Canada and financial institutions

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Helps new businesses get started

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Allows established firms to make improvements and expand

Business loans

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Term loans

Ideal for purchasing, installing or modernizing business equipment and other fixed assets

Cost-effective loans that can support your business growth plans

Decide on a pricing strategy

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Determine the specific pricing strategy you will need to use to cultivate success

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Consider what your total costs are and what your customers are willing to pay

Start your business right

Our business advisors can help with several aspects of starting a business. From securing start up costs to managing the day-to-day finances, we have the know-how you need to build a business from the ground up.