a guide to becoming an entrepreneur in chatham …...what you would most love to be doing with your...
TRANSCRIPT
A GUIDE TO BECOMING
AN ENTREPRENEUR IN
CHATHAM-KENT
This Employment Ontario project is funded in part by the Government of Canada.
ACKNOWLEDGEMENTS
The Chatham-Kent Workforce Planning Board’s main role is to function as a broker of local research, disseminator of information, and facilitator of collaborative partnership development. The board’s intent is to identify needs and facilitate solutions to attract, train and retain a sustainable workforce through community partnerships. To learn more about the work that Chatham-Kent Workforce Planning Board is doing, please visit our website (www.ckworkforcedev.com).
The Chatham-Kent Workforce Planning Board would like to acknowledge the assistance of the following community partners.
The materials enclosed in this report were prepared by the Chatham-Kent Workforce Planning Board. Information collected for this report was gathered from various sources and considered to be reliable. We make no representation or guarantee expressed or implied as to its accuracy or completeness. The Chatham-Kent Workforce Planning Board assumes no responsibility or liability.
This Employment Ontario project is funded by the Ontario government. The views expressed in this document do not necessarily reflect those of Employment Ontario.
TABLE OF CONTENTS Entrepreneur Summary 4
Traits of an Entrepreneur 5
You Might Be an Entrepreneur If 6
Entrepreneur Quiz 7
Reasons to Start Your Own Business 8
Developing an Entrepreneurial Opportunity 10
Useful Websites 11
Community Futures Development Corporation of CK 13
The Ground Floor Centre for Innovation 18
Entrepreneur Forums 19
Video Guide to Becoming an Entrepreneur in CK 20
Successful Entrepreneur Stories 21
APPENDIX
Junior Achievement 26
A Guide to Starting a Small Business in Chatham-Kent 28
ENTREPRENEUR SUMMARY
What is an entrepreneur?
A person who organizes and manages a business undertaking, assuming the risk for the sake of the profit. Someone who perceives an opportunity and creates an organization to pursue it or someone who is simply looking to build a business.
Starting a business can seem overwhelming. It takes a lot of time and effort to research and plan a business. This guide serves as a starting point for start-up entrepreneurs to assess if they have what it takes to be an entrepreneur and address the most immediate needs when thinking about, or forming a new business in the Chatham-Kent area. The resources listed are in no way a comprehensive list, but rather a place to start from and expand depending on the needs of each entrepreneur.
4
TRAITS OF AN ENTREPRENEUR Entrepreneurs are very diverse and tend to share common characteristics.
Some of the characteristics that they share are listed below.
Flexibility Able to quickly
adjust to changing circumstances.
Self-belief You are a strong, confident
person who believes passionately in
yourself.
Vision You are often facing people who think you
will fail but ignore those naysayers
because you see what the
future will bring.
Never Give Up If one path leads
you to a dead end you follow the next path
until you succeed.
Passion You have a strong desire
to change something and that desire gets you through
hard times.
Strength You are able to
overcome your fear of failure.
Tenacity No matter how many
times you fail, you never give up.
YOU MIGHT BE AN ENTREPRENEUR IF…
You are Self-Directed
You are a born leader and do not need validation from others. You prefer to oversee your own work, business and life in the path you choose.
You Desire Freedom
You are looking for freedom to do what you want when you want to do it. Entrepreneurs are freedom seekers.
You are a Risk Taker
You’re not afraid to try new things and come up with ideas that have never been done before. You are a problem solver and are looking to make a difference.
You are Bored
You are bored at your current job, you want out and want to create your own important work.
You Seek Empowerment
You are full of optimism and believe that if you work hard you will achieve the ultimate outcome of your dreams towards self-empowerment.
You See a Job as a Risk, Not a Source of Security
Having a traditional job to you means risk because your security is out of your control, someone else is in control. You prefer to take your income into your own hands and create your own future.
You are a Dreamer
All entrepreneurs are dreamers. You have faith in what it takes to make those dreams become a success.
If you responded yes to the majority of these statements, you may have what it takes to be a n entrepreneur.
6
ENTREPRENEUR QUIZ
1. I view obstacles as challenges to overcome.
2. When working on a project I enjoy, I often lose track of time.
3. I am very goal-oriented.
4. I make plans before I start something.
5. Once I commit to something it gets completed.
6. I enjoy being around people and making connections.
7. I am very driven.
8. I am very creative and love to come up with new ideas.
9. I embrace change.
10. I enjoy learning new things.
11. People often look to me for direction.
12. I tend to say things in a straightforward manner.
13. When given challenging obstacles I am not fazed.
14. I am not afraid to take risks.
15. I am a confident individual.
16. I am a hard worker and push through challenges to accomplish goals.
17. I view mistakes as a learning opportunity.
18. I am confident at making my own decisions, good or bad.
19. I enjoy working independently.
20. I like to take charge leading projects and people.
SCORING
Yes - 3 points
Sometimes - 2 points
No answer - no points
45-60 You have strong entrepreneurial skills. You should start thinking about planning what you would most love to be doing with your life. You have what it takes to be an entrepreneur.
30-45 You have a great deal of potential. If you have a desire to be an entrepreneur, focus on your weaknesses and overcome them to help you ensure success.
20-30 You may have the desire but not the skill level. Focus on areas outside of your comfort zone or possibly partner with someone that will complement your skills.
Below 20
Unless you have an overwhelming desire to start your own business, you may be better off contributing to an existing entrepreneur.
REASONSTOSTART YOUR OWNBUSINESS
Have you ever wondered what it would be like to work for yourself and start your own business? Listed below are some of the benefits related to running your own business.
Flexible Time - When starting your own business you tend to work long hours and for little or no pay, but once your business has been established you often have employees working for you. This can provide you added freedom within your schedule.
Tax Benefits - The added tax benefits for entrepreneurs can be tremendous. You can take advantage of some nice tax perks and write off all kinds of expenses such as food, travel and car expenses to name a few. Speak to your accountant for a full listing of what can be written off.
Grants or Low Cost Loans - Some businesses qualify for government incentives. Contact the Small Business Centre or the Community Futures Development Corporation to find out what some of those incentives are.
The Future Generation - Owning your own successful business for an extended period allows you the opportunity to share in the success by passing that same opportunity for success to your son or daughter.
Job Security - Is there such a thing as having a secure job in this ever-changing economy? Starting your own business can give you the security that you desire as you become your own boss. That security now relies on you to make it happen.
Networking - Entrepreneurs love getting together to share ideas and inform one another about the experiences they are having. Networking gives you an opportunity to build your circle of acquaintances to share valuable information and resources.
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Building New Skills - Being an entrepreneur you often start out with a limited budget and resources. You do not have the added funds to hire experts in certain fields that will help you in areas that you have little or no expertise in. The responsibility of doing things like marketing, web design and advertising can often fall on you, forcing you to take the lead and become an “expert” yourself in those fields. Developing new skills can be hard and take lots of time and effort, but the rewards are tremendous. Those added skills will be an added benefit throughout your life.
Income - When starting your own business you have the opportunity to earn an unlimited income. This is based on your efforts and the success or failure of the business.
Independence - The majority of people go into business for themselves for financial independence. Working hard and investing in your business can bring major rewards allowing you to achieve independence.
Creating jobs - You have an opportunity to provide jobs to individuals within your community, in turn, helping provide support to the local workforce.
Branding - Creating your own ideas and marketing them as a brand can be a huge reward. The thought of an idea that you have created being sold locally and sometimes at a regional or national level can bring you and your community notoriety that you never thought possible.
Pursuing a Passion - Starting your own business not only allows you to earn a living but allows you to pursue something you have a strong passion for. Turning that passion into a business allows you the opportunity find enjoyment and fulfillment in your work life, which often leads to a happier life.
Self-Expression - Owning a business allows you to express yourself and to be more creative. You are not restricted by having to follow a set work procedures, and you’re free to change your work processes if you wish. You can also create additional products or services to meet customer demands.
Although entrepreneurs share common traits, most people with a strong fundamental desire to control their own future and the initiative to do so, can become an entrepreneur. Once you have determined that you want to be an entrepreneur, your next step is to come up with the idea and follow that up with research and ways to support yourself and figure out how to make it reality. The remainder of this guide will help direct you to useful information and support systems within Chatham-Kent that will help guide you along your journey.
DEVELOPING AN
ENTREPRENEURIAL OPPORTUNITY
Coming up with the idea This can be the most challenging aspect of the entire process. It will frame your business so try and make it unique or different than the competition; think of new ways to use existing ideas; identify a need within the community or identify a profitable target market or niche for your business.
The product and market need You may have an idea for a product or service that meets an unfulfilled need in the marketplace. By turning your idea into a business, you can be the first to meet that need, which can result in a profitable venture. The entrepreneur must be able to describe the product or service in terms of its features and benefits, as well as be able to describe the targeted market.
Expertise, resources and environment An entrepreneur must be able to assemble the right expertise to make it happen.
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USEFUL WEBSITES
Government websites are a valuable tool, providing information to guide you in the process of starting and growing your business.
Services for Business: ONe-Source (Business section of ServiceOntario.ca)
Provides information on programs and services: • Business Registration or Renewal• Business Permits and Licenses through BIZPal• Taxes: Employer Health Tax, GST and HST, Corporate Income Tax• Guides and How To’s• Grants and Financing• Legal• Workplace Safety Insurance Board• Payroll Deductions• Import/Export
You are able to access, submit and track business information, forms and services for your business quickly, securely and save the information you need in a customized “My Account” feature.
Visit ServiceOntario (http://www.ontario.ca/en/services_for_business/index.htm)
Ontario Business Program Guide This guide is a resource to government-funded programs and services for Ontario businesses.
Advice and Consultation Education and Training Financing Tax Credits
Visit Ontario Business Program Guide (http://www.ontario.ca/en/business_program/index.htm)
Canada Business Network Services for Entrepreneurs
The Canada Business Network site is a helpful and comprehensive first point of contact for Ontario’s small business community that provides access to accurate, timely and relevant information on federal and provincial business-related programs, services and regulations.
On the website entrepreneurs can: • Explore the “Starting a Business” tab for the basics on federal and provincial government
programs, services and regulations• Plan for a successful start to a small business• Ask business questions by email through the Contact Us form• Visit guides on business topics (http://www.cbo-eco.ca/en/index.cfm/guides/)
CanadaBusiness website http://www.canadabusiness.ca/eng/
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Your Guide to Small Business in Ontario
This guide, which is available through the Ministry of Economic Development and Innovation, is a great reference point on topics identifying the actions required before, during and after launching a business.
Sections include: • So, You’re Thinking of Starting your Own Business • Preparing to Start your Business • Starting your Business • Up and Running • Expanding your Business
Website (http://www.ontariocanada.com/ontcan/1medt/smallbiz/en/sb_yrguide_main_en.jsp)
Toronto Business Development Centre (Programs) - BIZ Futures
BIZ Futures is a skills development and business support program designed specifically for persons with disabilities starting their own business.
Website (http://www.tbdc.com/index.php)
Canadian Youth Business Foundation
Canadian Youth Business Foundation helps with start-up, financing and mentoring.
Website (http://www.cybf.org)
Chatham-Kent Small Business Centre
For business information and support services to help entrepreneurs and small businesses develop and succeed throughout Chatham-Kent.
Website (http://www.chatham-kent.ca/SmallBusinessCentre/Pages/Default.aspx)
How We Help You CFDC Chatham-Kent is a one-stop resource for one-on-one business planning, financing, coaching and counselling. CFDC Chatham-Kent serves the geographic area of Chatham-Kent, Ontario.
Programs for You • Unemployed? • Starting a new business? • Expanding your business? • Have a fantastic Community Project?
We have a program to help you!
‘The Scoop’ Newsletter We publish a monthly newsletter that summarizes:
• Upcoming business workshops • Social & cultural networking sessions • Notices regarding changes in regulations affecting businesses • How to access programs & capital
Community Futures Development Corporation | 13
LOOKING TO START YOUR OWN BUSINESS?
This Employment Ontario project, program or service is funded in part by the Government of Canada. The OSEB Program offers an opportunity for an eligible, unemployed person to create a job for yourself by starting your own business.
This OSEB Program is administered in partnership with the Ministry of Training, Colleges and Universities (MTCU) and provides Employment Insurance (EI) income as well as Community Futures’ entrepreneurial counselling, networking, and workshops during the start-up year of your business.
BASIC ELIGIBILITY: (and both criteria listed MUST apply to you)
1. You are UNEMPLOYED (NOTE: do NOT quit your current employment AND do NOT begin working on or start your business venture, as these actions may affect your eligibility for the OSEB Program)
AND
2. You have an Employment Insurance (EI) benefit period ESTABLISHED
OR Your EI benefit period ENDED WITHIN THE LAST 36 Months;
OR You are re-entering the labour force after having left it to care for newborn or newly adopted children and your benefit period BEGAN WITHIN THE LAST 60 Months during which you were paid maternity or parental benefits
HOW TO APPLY TO THE ONTARIO SELF-EMPLOYMENT BENEFIT (OSEB) PROGRAM:
1. Register and Attend an OSEB Information Session
2. Complete the attached OSEB Forms Package, including the My Business Concept, attach your Resume, and your Evidence of your continued Job Search, to your paperwork
• Visit the Employment Service Provider Office location of Your Choice - the Goodwill Career Centre, Chatham or the St. Clair College Employment Centre, Wallaceburg - with your paperwork in hand, and meet with your counsellor for your eligibility, resume, job search, and employment assessment
• If you are recommended to continue, you will be provided and requested to complete the Ontario Self-Employment Benefit (OSEB) application sheets
• If you are recommended to continue, deliver your paperwork to the Community Futures Development Corporation of Chatham-Kent (CFDCCK) Office, Blenheim
• Meet with your CFDCCK Coordinator, after your paperwork has been reviewed, to assess if your business concept is eligible, suitable, feasible, viable, profitable, and right for you
• If you are recommended to continue, a Letter of Support and your paperwork will be forwarded to MTCU
• Final approval for acceptance to the OSEB Program is the responsibility of MTCU
• If you are accepted to the OSEB Program, you will Meet, and Sign an OSEB Agreement, with MTCU
• You will then be required to Complete and Submit a comprehensive Business Plan for your business
• Want to register? Have further questions? Need OSEB Forms? Contact the Community Futures Development Corporation of Chatham-Kent (CFDCCK) at 1.866.469.9901, email us at [email protected] or visit our website (www.cfdcck.on.ca).
Community Futures Development Corporation | 15
SMALL BUSINESS LENDING
Small to Medium-sized Business
We understand that small business has always experienced problems in obtaining financing. That’s why lending programs have been developed that represent another borrowing option for small business in conjunction with traditional lenders. Loans are available up to $150,000. Whether you’re an established company ready to take the “next step” or an entrepreneur with a great idea who needs seed money to make your concept flourish, we have a variety of lending programs that can help. Loans can be used for start-up, purchasing, expanding, inventory, leasehold improvements or working capital.
Our Lending Criteria Loan approval is strongly based on profitability and job creation. We consider the strength of the Business Plan and ability to repay the loan. Adequate security includes business and/or personal assets and often a personal guarantee from principal owners.
Meet Our Friendly Staff Meet with one of CFDCCK’s coordinators to review your business financing proposal and discuss your needs and goals. Because we are community based, we can also inform you of other sources for information, research and services that could benefit your business.
16 | Community Futures Development Corporation
To Prepare a Business Plan, provide us with an overall picture of:
• Who your company is and how it is structured • What it is you want to do • When and how you will meet your goals • Where you are going with your goals • Where you are going with your business • Why you are seeking financing • How the investor or lender can help you reach your goals
Flexible Repayment Terms Clients can arrange flexible repayment terms or customized payment schedules to meet seasonal fluctuation in cash flow.
• Interest Rates, Terms & Fees • The term of the loan is negotiable • CFDCCK offers competitive interest rates • Legal and registration fees apply to all approved loans • Loan application fees apply to all applications • Loans are individually life insured annually for the term of loan • Contact us at 1.866.469.9901 or email [email protected] or visit our website (www.cfdcck.on.ca)
The Ground Floor Centre for Innovation The Ground Floor is a co-working space and business incubator that supports the entrepreneurial and start-up community of Chatham-Kent. Our shared workspace, programs, and events create a hub for innovation, collaboration, and creativity.
The Ground Floor culture fits the lifestyle of today’s workforce and is an affordable alternative to the traditional 9:00 to 5:00 office. We are strategically located steps from Downtown Chatham on the ground floor of the Armoury.
Our mission We connect entrepreneurs to business resources.
Our vision The Ground Floor Centre for Innovation grows entrepreneurship within Chatham-Kent by providing shared workspace and business development tools. The Ground Floor is the environment for community-driven collaboration and innovation. The possibilities are endless.
Collaborate Shared workspace. We built a whole new culture by putting a bunch of awesome people together in the same place.
Connect There’s someone I want you to meet. Socials, Workshops, Events. You never know where that next handshake might lead. Let us be your wing man.
Contact us to learn more:
www.groundfloorck.com
www.facebook.com/groundfloorck
www.twitter.com/groundfloorck
Call Melina (519) 437-7680
18 | Ground Floor
ENTREPRENEUR FORUMS A forum is a web application that holds discussions and postings sharing useful information and resources. Unlike a blog, a forum generally has a high volume of users proving input by sharing thoughts and ideas.
Some forums you may find useful are:
National Young Entrepreneurs Forum ⊲ Where young entrepreneurs meet, discuss business ideas and talk about latest business trends.
(https://www.facebook.com/young.entrepreneur.forum)
Young Entrepreneur ⊲ Great forum for entrepreneurs seeking information, help, ideas or feedback.
(http://www.entrepreneur.com/topic/young-entrepreneurs)
Retire At 21 ⊲ This forum offers tutorials and inspiration for online entrepreneurs wanting to achieve more.
(http://www.retireat21.com/blog/young-entrepreneur-forums)
Small Business Forums ⊲ This forum is primarily for small business owners with questions.
(https://www.smallbusinessforums.org)
The Admin Zone ⊲ This is a great place for online entrepreneurs to ask questions.
(https://theadminzone.com)
Digital Point ⊲ This massive forum covers every topic online. It’s the place to go to if you want to learn more about every aspect in the “online” world.
(https://forums.digitalpoint.com)
Video - A Guide to Becoming an Entrepreneur in Chatham-Kent (https://www.youtube.com/watch?v=6X_jd1_LKiA)
Being an entrepreneur is not easy and starting a business always involves risk. Some fail, while others succeed, but many entrepreneurs who have invested in Chatham-Kent will tell you they did it because of the community’s low cost of living and the low costs associated with running a business here.
To learn more about why you should consider becoming an entrepreneur from local entrepreneurs themselves and to hear from service providers about what types of resources are available to entrepreneurs in Chatham-Kent, please visit the Chatham-Kent Workforce Planning Board’s YouTube channel and search for “Being an Entrepreneur in Chatham-Kent”.
Chatham-Kent proves to be a great place for entrepreneurs to create and
operate a business. Many local entrepreneurs have found great success in
running their businesses in CK. Below are a few success stories from some of the
entrepreneurs themselves. Read on and find out why you should consider a life
of entrepreneurship right here in Chatham-Kent.
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HAVEN MOSES PLANTER’S HAVEN
Haven Moses is currently in his fourth year of Civil Engineering at Queen’s University. Since he started University he returns to his hometown of Wallaceburg every summer to live and work. “Running a business in a culturally driven place like Chatham- Kent was quite the experience. There is a strong sense of
community and people are always willing to go out of their way to help you. Having such a strong network of community friends really helped me to get the word out about my business quickly,” he indicated.
Most of his advertising success came from online marketing; with the help of the Business Consultants at the Chatham-Kent Small Business Centre, he was able to effectively market his business using sites like Facebook and Kijiji. “When you own a business, having a place that allows you to showcase your products 24/7 and communicate with potential customers really opens up a lot of sales opportunities,” he stated.
Planter’s Haven is a small business aimed at providing the residents of Chatham-Kent with customized planter boxes and raised bed gardens. Planter boxes in brand name stores limit the customer to preset sizes and styles. His business attempted to capitalize on this by providing people with the option to personalize their garden.
After third year he originally planned to take the summer off and focus on his studies, instead he looked into the Summer Company program and the possibility of starting a small business. After some planning and research he contacted Rosemarie Montgomery, Small Business Consultant at the Chatham Kent Small Business Centre, to discuss the next steps. She guided him through the business plan and application process. Once accepted to the program, he was awarded a $1500 grant to be used for startup costs, which went towards new tools and supplies.
From all the insightful information he has gained from being in the Summer Company program, he plans to develop a small business in the university district for the second semester.
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Raised in Thamesville, Erin enjoyed the small town atmosphere much so that she decided to raise her family in Dresden, Ontario. Erin’s journey with entrepreneurship began in June of 2000 when she purchased her first salon. “The beauty industry was always my calling,” she indicated. In 2010 she became pregnant with her youngest son and like many pregnant women, struggled with hair loss and skin problems. As her due date neared she became more upset with her appearance, spending hundreds of dollars on various products.
Erin’s revelation came while taking her nightly routine bath; as she was washing her hair she happened to glance at the ingredients list on one of the products. There were so many ingredients that she could not pronounce, words that were hyphenated and abbreviated. She knew at that moment she wanted to look for healthier alternatives. Erin’s research began shortly after, looking at ways to eliminate those harsh chemicals from the products.
Erin did a significant amount of research, enrolled in natural product making courses and her pathway to a healthier beauty regimen began. By May of 2012, Erin started ordering raw materials from natural, organic Canadian companies and began measuring, mixing and bottling. The results were unbelievable; Erin’s hair was growing back and her youthful shine had returned. She then tested her products with family and friends who also experienced amazing results within a short time frame. After Erin’s friends and family requested more of the homemade products, she knew that she had to start producing a product that she could sell. HairTree Therapy Systems was born.
The buzz around Erin’s product line spread quickly and in January 2013 she was forced to make a huge decision. She was unable to keep up with the demands of running a full service salon and a new product line. She took a massive leap of faith and closed her salon after 13 years of successful service. “It was a leap, a risk…. and I couldn’t be happier that I followed my heart” she stated.
Erin’s research is on going. Since beginning, Erin has created and successfully launched a full organic beauty line. HairTree Therapy Systems is for hair, scalp, body, bath, nails and face. In total there are 20 therapeutic and natural products she has produced that can be found at 11 locations throughout Chatham-Kent.
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NATURAL BEAUTY PRODUCT DEVELOPER
FLORIN MARKSTEINER FILM-TV PRODUCER
Florin is a filmmaker, originally from Romania, who has worked on productions all across Europe. In 2007, Florin moved to Canada after meeting his soul mate in the Caribbean. After adapting, Florin continued his career by starting a brand new business, Productionmark, and getting back to what he does best: Film.
In the beginning Florin catered to the business world by helping business owners with video marketing tools. Having an outgoing personality, Florin shortly became popular in the local networking circles. The secret of his success is “to connect people and help everyone”. Being a filmmaker and an actor, Florin is able to see the film industry from both sides of the camera and he says that his mission is to bring the film industry to Chatham- Kent. “Because of the region’s central location it is easy to get everywhere from London to Windsor to Sarnia and even Detroit”. This allows him to set daytrip shoots which is really helpful with the production budgets. Working with production houses from the North American continent, he is making people aware of Chatham-Kent’s huge potential.
In 2012 Florin released “The Cultured Criminal” which follows the story of the Birchall- Benwell case from the 1890s, and just recently finished a feature film in co-production with a company from London. The feature film used talent from Chatham-Kent, a fact that Florin takes great pride in. At the moment he plans to shoot a feature film called “Like a Hero Going Home - The Last Days of Tecumseh” in direct collaboration with George Henry of the First Nations as well as a series of short films. He intends to use only local talent.
Florin is bringing additional film to Chatham-Kent through CLIFF – Christian Life International Film Festival. The festival brings films from all around the world. “I am close to my goals. I think that means success”, Florin says.
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RODNEY LANGSTAFF CO-OWNER & COACH AT CROSSFIT
WALLACEBURG
Rod Langstaff began his journey in 2010 when he started coaching Crossfit in Petrolia, Sarnia and the United States. Rod introduced Crossfit in Wallaceburg as an experiment to see how many people he could get interested in the fitness program and to see what kind of difference he could make in his hometown.
In the summer of 2010 Rod started coaching in Crothers Park and it went much better than he had originally anticipated, so in the fall he decided to move the location indoors. The training was moved into his garage where he stayed sometime before moving locations in 2012. At the end of 2012, he along with his partner and wife Joanna decided they needed more options for coaching their clients. They were ready to look for a larger location with better options for their members.
In January 2013 together, they opened CrossFit Wallaceburg on Dufferin Avenue. Since then they have trained people varying from professional athletes to soccer moms, all ranging in age from five to eighty years old. All of their clients have a few things in common: They love the sport of CrossFit, feeling good, and improving their health and well-being.
Rod and his family have lived in this community for years and he says that the community needs a change in the health and fitness area. CrossFit Wallaceburg’s goal is to make a difference in the community one person at a time.
Rod feels that it has been a great journey helping the community so far and he looks forward to helping them for years to come.
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ASHLEY SROKOSZ REGISTERED HOLISTIC NUTRITIONIST
Ashley Srokosz is a Registered Holistic Nutritionist, mom, and meal-planning mediator who works to teach fellow time- strapped moms how to eat healthier, integrate real food into their busy schedules, and save time and sanity in the kitchen. Ashley believes that for modern day moms, health and well-being isn’t just about what’s on your plate; it’s about what you can take off
it. Through her signature one-on-one coaching programs, seminars and workshops, Ashley teaches moms how to use food as a tool to peel away stress, make room for happiness and bring back balance.
Ashley currently lives with her husband and 2-year-old sous chef in the small town of Chatham, Ontario. She works from her virtual home office, where she shares tips, tricks, recipes, and free meal plans to turn dreaded kitchen chores into a pantry party.
Ashley has recently moved her private nutritional consulting practice online so that she can help more busy moms while leveraging her own part-time business hours.
In September 2014 she expanded her offers with her very first 30-Day Calm Mom Challenge. This challenge included 30 days of self-care missions, recipes to feed the soul and tummy, and a generous helping of inspiration for living an ease-filled life - all delivered for free straight to the participants inbox. Ashley is planning on developing a custom mobile app based on the enthusiastic feedback from her Calm Mama following.
In October 2014, Ashley launched her very first group online program, based off of her successful 6-month one-on-one program called Mama Mojo. This program is an eight-week nutritional program designed to help busy moms. It includes weekly meal plans, grocery lists, workbooks, and videos delivered virtually through her online membership site. Because Ashley has very little overhead, she was able to test her new programs without worrying she’d go bust. She’s invested in re-branding courses, web design, custom web development, copywriting, and upscale photography. Because the framework of her custom online course is now laid she can run the course as much as she wants with no major overhead.
Ashley’s biggest challenge is fitting all of her work in the part-time hours that she works around her son’s daycare time. Since having him, she can’t work round the clock on her business like she used to, and she’s at the verge of having to hire an assistant to help ease the burden of the non-money making tasks that she has to do every day. Hiring her first real employee, as opposed to contractors, requires a regular cash investment that may not pay off immediately, but will in the long run. Visit Ashley’s website (www.lovewhatyoueat.ca) to get a free Pantry Party and 3-day sanity saving meal plan.
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Economic Development Services Chatham-Kent Small Business Centre
445 Grand Ave. W Chatham, ON
[email protected] 519.351.7700
The Chatham-Kent Small Business Centre is a one-stop destination for business information and
support services to help entrepreneurs and small businesses develop and succeed throughout
Chatham-Kent. Visit the Chatham-Kent Small Business Centre if you are:
Thinking of starting a business? Do you have a new product or business idea?
Are you trying to decide if entrepreneurship is right for you?
Starting a business? Getting your business started and unsure where to go next?
Learn the keys to successfully starting your business.
Growing your business? Running a business can be challenging and you may have questions.
Our confidential consulting services are available to you.
We offer several great programs including . . .
If you’re between 15-29 years old and enrolled in school, you can get
money and advice to run a summer business.
Summer Company website (http://bit.ly/summer-company)
If you’re between 18-29 years old and not enrolled in school, you can
get up to $5,000 and professional mentoring to start and/or expand a
business.
Starter Company website (http://bit.ly/starter-company
#CKconnect strives to provide resources for entrepreneurs and
professionals. Our goal is to bring people together who are looking
to advance their careers in Chatham-Kent.
CKConnect website (www.facebook.com/CKconnectNetworking)
Give us a call for more information at 519.351.7700
A Guide to Starting a
Small Business in
Chatham-Kent
Chatham-Kent Small Business Centre 445
Grand Avenue West Chatham, ON N7M
5L3 Phone: 519.351.7700
Email ([email protected])
Website (www.cksmallbusiness.ca)
Introduction Starting a small business can be exciting and challenging. With careful research and hard work, it can also be very rewarding.
There are three common ways to get into business. You may wish to start the business as a new enterprise, you could buy an existing business, or you may decide to purchase a franchise. Regardless of which type of ownership you are thinking about, there are some basic questions you should ask yourself to assess whether you are ready.
Are You Prepared? Do you have what it takes to be an entrepreneur? Even if you have a great idea, starting a new business is challenging. So before you even begin, you need to ask yourself: Do you have the personality of an entrepreneur?
Do you like to make your own decisions?
Do you enjoy competition?
Do you have will power and self-discipline?
Do you plan ahead?
Do you get things done on time?
Can you take advice from others?
Are you adaptable to changing conditions?
If you can honestly say you’re the right personality type, the next question you have to ask yourself is: Do you know what you’re getting into? Are you really prepared to:
Work long hours
Sacrifice time with family and friends
Receive little—or no—pay at first
Live with ongoing pressures
Long hours and hectic schedules can take their toll on relationships. For your business to succeed, everybody has to be onside. So, talk it over with your family and make sure they know what you—and they—are getting into.
Explore New Business Opportunities The type of business that you enter should complement your experience, interest and/or technical knowledge. It is fine for you to dream about becoming your own boss someday, however, before you put too much work into your business, make sure that the area you choose is the right one for you.
When deciding what business to start, you may want to consider what hobbies and/or interests you have as well as your experience and background. If you are interested in an area in which you have little experience, you may want to seek some training before you begin.
Two other factors that are equally as important as the above mentioned are:
1. Is there a need for the goods and/or services you are going to offer? 2. Will there be a market for your product in the future?
What Form Of Business Organization Is Right For You? The following chart is a list of possible advantages and disadvantages of the most common forms of business organizations:
Type Advantages Disadvantages
Sole Proprietorship Business owned by
one person, called a
“proprietor.”
Simplest andleastexpensive toset up
Minimalregistrationrequirements
Owner in direct control
Possible taxbenefits (lossescan be appliedagainst otherincome ofproprietor)
Owner assumes allrisk of business;responsible forpayment of allbusiness debts.Creditors can seizeyour personalassets.
Lack of continuity(ownership nottransferable)
Difficult to raise capital
Possible tax
disadvantages
(profits must be addedto personal income)
Partnership Business owned by
two or more
individuals or
corporations.
Easy to set upand very flexible
Limited regulation
Partners providesources ofadditional capitaland skills
Partners assumepersonal liability fordebts of business
If disagreementsarise, businesscan suffer
More complexrecord keepingand tax returns
Corporation A separate legal entity
which can enter into
contracts and own
property, separately
and distinctly from its
owners who are the
shareholders.
Limited liability(generally limited toindividual’s personalinvestment in thebusiness)
Continuousexistence(ownershiptransferable)
Easier to raisecapital (i.e. moneyfor the businesscan be raised byselling shares)
Possible taxadvantages
More expensiveand complicated toset up and maintain
Extensive recordkeeping andcomplex taxation
Closely regulated
Where Do You Go For Help? Clearly, whichever business option and business form you choose, there’s a great deal of up-front research involved. Some of it you can—and must—do yourself, but some of it will require expert help, by way of an accountant, lawyer and/or business consultant.
The Chatham-Kent Small Business Centre provides clients with a one-stop office for information and referrals for starting and growing a business in Chatham-Kent. Free-of-charge services are provided for one-on-one consultations with the Small Business Officer, and assistance with business planning and research. If you are unable to travel to the Chatham office, staff is available to provide consultations in one of 5 Municipal Service Centres.
We also have a multitude of resources available in our office on-site, including a public access computer for business research and planning, and access to government publications, books, and pamphlets and brochures. If there is anything specific you may require, please let us know, and we would be happy to provide you information if anything is available.
To book an appointment for a complimentary consultation, or request a free information kit from our resource library, contact:
Chatham-Kent Small Business Centre 445 Grand Ave. W. Chatham, ON N7M 5L3 P: 519.351.7700 E: [email protected]
Business Planning A well-researched, well thought-out business plan is essential for a few reasons. First, it increases your chances of success by forcing you to consider every aspect of your business and it serves as an ongoing roadmap or benchmark so you can gauge your success. Finally, it’s what investors, including banks, want to see in order to determine whether your business—and you—are good risks.
In your business plan you should include:
How the company will be managed and owned
Product(s) and/or service(s) you will offer
Materials and resources you’ll need
Potential strengths and weaknesses of your company
Your company’s short and long-term plans
The market and industry into which your business is directed (including suppliers, customers,competitors, threats, opportunities)
Marketing, sales and production plans
Operating costs
Amount, sources and types of financing it may require, including personal resources you may need to tapinto
Sales and cash flow forecasts
The Interactive Business Planner (IBP) is an online system that will guide you through each section of your business plan using question and answer format, learn definitions and tips, and view sample business plans to help you write your own plan. It allows you to save your plan online using a confidential username and password, which means you won’t need to worry about where you saved your business plan on your computer. The IBP can be accessed here (http://www.canadabusiness.ca/eng/86/).
Simply put, a business plan is a written summary of all the activities of your proposed business. Feel free to pick up more detailed information about what should go into a business plan samples, or a template at the Chatham-Kent Small Business Centre. If you choose, book an appointment with the Small Business Officer for a complimentary business plan review.
What Licenses & Registrations are Required? Many types of businesses require licensing from the federal, provincial and/or municipal governments. These requirements could include an operating permit, special permission to operate in your chosen location or specific qualifications for you and/or your employees.
BizPal Officially launched June 6, 2008, the Municipality of Chatham-Kent is pleased to provide entrepreneurs with access to BizPal, an online service that simplifies the business permit, license and other compliance regulation process for entrepreneurs, governments, and third party business service providers.
BizPal helps you generate a personalized list of the business documents you need for the levels of government—local, provincial/territorial, and federal—you may have to deal with in order to grow or start up your business. And if you are already operating, BizPal can help you verify that you have all the correct permits and licenses.
Ontario Business Name Registration (Master Business License) If you’ve chosen not to incorporate, you’ll need to register your business name with the province of Ontario, unless you are operating under your legal (first and last) name. Adding even one word to your legal name (i.e. “Enterprises” or “and Company”) requires registration.
If you plan to open a business bank account, most financial institutions require you to provide a Master Business License as proof of Ontario Business Registration.
A business name registration is valid for five years at a cost of $60 electronically (or $80 by mail), after which time it must be renewed. Registration is quick and easy. You can register your business name:
Online: If you wish to pay by credit card, registration may be done using Service Ontario’s secure, online system at www.serviceontario.ca.
In person: The Chatham-Kent Small Business Centre offers you the choice to register in person whether you choose to pay by credit card, cash or company cheque.
By mail: Registration may be completed by mail (service time is approximately 6-8 weeks) and addressed
to:
Companies & Personal Property Security Branch Ministry of Government and Consumer Services 393 University Ave., Suite 200 Toronto ON M5G 2M2 Registering your Business name with the Ontario government does not provide you name protection, but if you decide to use a name that is the same as or confusingly similar to that of an existing business, it could result in a lawsuit if that business name is protected. If you would like business name protection, you need to look at trade-marking or incorporating your business name. Feel free to contact the Chatham-Kent Small Business Centre for more information on trade-marking or incorporating.
Business Name Search Before making a final decision on your business name and ordering business cards or stationery you will want to know if someone else is already using the name. A search of the Companies and Personal Property Security Branch records will determine whether another Ontario business is using the name you have selected and where that business is located. Business name searches are optional and may be performed online (www.serviceontario.ca) at a cost of $8 per name searched.
Municipal Business Licensing
While not all types of businesses require municipal licensing, many do. For more information, or to find out if your business requires a municipal business license, contact: Chatham-Kent Building Enforcement & Licensing Civic Centre 315 King St. W. Chatham, ON N7M 5K8 P: 519.360.1998
Municipal Zoning
It is important that all new business consult with the municipal zoning office to determine whether a particular business is permitted to operate from a chosen location, especially if you plan to operate your business out of your home. For more information, contact:
Chatham-Kent Zoning Department Civic Centre 315 King St. W. Chatham, ON N7M 5K8 P: 519.360.1998
Occupational Licensing A number of businesses may also have additional occupational licensing requirements. It is important that you find out whether or not your chosen industry has these types of regulations before you begin.
The Ontario Occupational Licensing Gateway provides one-window, online access to information and forms related to occupational/business licenses. You may find this information on Service Ontario’s website (www.serviceontario.ca) under the heading “Gateway for Business”.
What About Taxes? Harmonized Sales Tax (HST) HST applies to almost all goods and services supplied in Canada. If your business provides HST-taxable goods or services and has annual gross sales of $30,000 or more, you are required to register, collect, and remit HST. If your sales are estimated to be less than $30,000 per year, registration is not mandatory but may be done voluntarily. Registration for a HST Number is free of charge:
By telephone at 1.800.959.5525
By mailing or faxing a Request for a Business Number (Form RC1) to the Windsor Tax Services Office
Online at (www.businessregistration.gc.ca)
For more information about HST registration, visit the website (www.cra-arg.gc.ca) or contact Canada Revenue Agency (Windsor Tax Services Office) at 1.800.959.5525
Protect Yourself – Reduce your Risk Ask yourself how you can best protect your business and personal assets from financial harm.
Implement, follow and regularly review a Health & Safety plan at your business
Ensure all staff is properly trained and aware of your Health & Safety programs.
Post all mandatory Government Labour, Health and Safety requirements at a location in your business where employees can view it.
Inquire about and obtain Commercial Liability Insurance when applicable Obtain Commercial Fire and Theft Insurance
(General Perils)
How Do You Get Financing? Many times, one of the first questions asked by entrepreneurs is “where do I get money?” In the early stages, the most important financial sources will probably be your own savings, investments or credit, friends, relatives and financial institutions. When you are looking into applying for a loan for your business, it is important to study different avenues of financing.
Industry Canada Industry Canada’s Sources of Financing website is an extensive, online directory to help business owners locate traditional and alternative sources of small business financing. For more information, visit the website: (http://www.canadabusiness.ca/eng)
Financing Programs
Although some grants or subsidies are available for specific situations or industries, there are a number of government financing options available for Ontario entrepreneurs. The following programs are a few of the most popular programs for entrepreneurs. Please feel free to contact the Chatham-Kent Small Business Centre for a more detailed list of financing programs available to businesses.
Canada Small Business Financing (CSBF) Program The CSBFP is a federal program that is offered by most chartered banks. It is designed to assist new and existing businesses in obtaining financing for the purchase, installation, renovation, improvement or modernization of equipment, land or buildings necessary for the operation of the business. Loans are available up to $500,000, of which $350,000 can be used to finance the purchase or improvement of equipment and the purchase of leasehold improvements. The registration fee is 2% of the total amount of the loan. The registration fee can be financed. Financial institutions can finance and up to 90% of the cost of asset acquisition or asset improvement. The lender may take a personal guarantee of up to 25% of the original amount of the loan. The interest rate charged by the lending institution is the prime rate plus 3%.
Request information about this program from the loan officer at your chosen financial institution, or contact Industry Canada by phone at 1-866-959-1699 or online (http://www.ic.gc.ca/epic/site/csbfp-pfpec.nsf/en/home)
Community Futures Development Program The Community Futures Development Corporation of Chatham-Kent administers the Community Futures Development Program. The CFDC provides financing and management expertise through the following services:
Maximum $150,000 loan or equity investment. Repayment terms are flexible and negotiated in the best interest of your small business.
Assistance in preparing business plans for presentation to banks and other financial institutions.
Consultation on the viability of your project and on the best financing methods
Information on other Government services and programs of benefit to small business
Administration services on a fee for service basis (i.e. bookkeeping, payroll)
For more information on the Community Futures Development Program, please contact: Community Futures Development Corporation of Chatham Kent 245 Marlborough Street North P: (519) 676.7775 website (www.cfdcck.on.ca)
Downtown & Main Streets Incentive Programs The Municipality of Chatham-Kent offers programs designed to reduce costs for redevelopment projects and stimulate private investment in the revitalization of Chatham-Kent's unique downtown areas. The programs are offered for the downtown core areas of Blenheim, Chatham, Ridgetown, Tilbury, Wallaceburg and Wheatley. The boundaries for these downtown cores are defined in the Municipality of Chatham-Kent's Official Plan. There are four basic programs groups with ten financial incentive programs:
1. Rebate Programs
Planning & Building Fee Rebate
Development Charges Rebate
Parkland Dedication Exemption
Parking Standard Exemption 2. Tax Grant Programs
Heritage Tax Relief
Property Tax Increment Equivalent 3. Revitalization Programs
Facade Improvement
Residential Conversion & Rehabilitation 4. Studies & Design Programs
Project Feasibility Studies
Heritage Design Studies
For more information on the Downtown & Main Streets Incentives programs, contact Geoff Wright, Service/Commercial Coordinator at 519.351.7700 ext. 2033.
Youth Programs Starting a business is not just for adults anymore! The following are examples of programs available for youth entrepreneurs.
Summer Company The Summer Company program provides hands-on business coaching and mentoring, and awards of up to $3,000, to help enterprising young people start up and run their own summer businesses.
Eligibility
You are eligible for Summer Company if you are:
Between 15 and 29 years old
Currently a student and are returning to school in the fall
Proposing a new sole proprietorship or corporation in Ontario that you plan to operate independently from relatives
Prepared to make a commitment of at least 35 hours a week for a minimum of 8 weeks
Not working for more than 12 hours at another job
A Canadian citizen or landed immigrant residing in Ontario
New to Summer Company - you can't be a previous recipient of a Summer Company award
For more information on the Summer Company program, visit their website (www.summercompany.ca) or contact the Chatham-Kent Small Business Centre at 519.351.7700.
Young Entrepreneurs, Make Your Pitch The Young Entrepreneurs, Make Your Pitch program allows High School students to create a two minute video explaining their business idea. Explain what problems it will solve, who your customers will be and why your business will succeed. You could win prizes, coaching and tools to help bring your idea to life, and a trip to the Discovery conference in Toronto in May. The deadline to submit your video is typically the end of March each year. For more information on the Young Entrepreneurs, Make Your Pitch program or to submit your video, visit the website (www.makeyourpitch.ca).
Futurpreneur Loan Program (formerly CYBF) The Canadian Youth Business Foundation provides loans of up to $15,000 to aspiring young entrepreneurs who are between 18 and 35 and are most likely to succeed in creating a business and for whom financial assistance is critical. It is expected that the business will provide full-time employment for yourself and others. To ease the early stages of business growth, loan repayments over terms up to five years are available so that you can stay focused on getting established. Additional financing of up to a further $30,000 may be available via their partnership with the Business Development Bank of Canada (BDC). Applicants aged 35-39, are eligible for up to a total of $45,000 in financing entirely funded via their BDC partnership. For more information on the Futurpreneur Loan program, visit the website (www.futurpreneur.ca)
Need More Information?
Chatham-Kent Small Business Centre
445 Grand Ave West, Chatham, ON, N7M 5L3
P: 519-351-7700 F: 519-351-7852
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