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Modified over 3 years ago
Presented by Roger Pierce NewcomerStartup.com 1
Youre starting a business! 3 Million Canadian Entrepreneurs Most respected occupation Youll need some money: Poor cash flow kills startups 2
Startup Budget: Capital (equipment, renovations, website, vehicles) Operating (rent, wages, marketing, telephone, supplies) x 6 months 3
Write a Business Plan Know your number (Startup Budget) Decide how you will repay Loan? Investment? Know your options Be prepared for rejection 4
Your money! Savings Part-time job(s) Loans, credit (be careful) Consult financial advisor 5
Family & Friends Loan or investment? Dont take too much 6
Financial Institutions Need a Business Plan Personal Guarantee Invest some of your $ Shop around 7
Government Programs Grants & Contributions (e.g. Book Fund) Loan guarantees (CSBF Program) Wage subsidies Tax refunds and credits (SRED; 35%) www.canadabusiness.ca 8
Investors Angel investors are other businesspeople Venture capitalists are professional investors Business plan, great pitch essential 9
Customers & Suppliers Get money early from customers Deposits, retainers, full payment Pay suppliers later Credit account, generous terms, inventory upfront 10
Good Paper makes Good Friends Shop around Research, referrals Combine sources of money Persevere 11
Bootstrap Underestimate revenue, over-estimate expenses Start slowly Start small 12
Free advice at NewcomerStartup.com 13
Cover Life Cycle of Financing 8 South Michigan Suite 400 Chicago, IL p (312) f (312) Linda.
Use with Business Accounting and Finance Second Edition by Catherine Gowthorpe ISBN © 2005 Thomson Learning.
How much money should I have?. Start-Up Expenses Expenses entrepreneurs have when starting their business Expenses entrepreneurs have when starting their.
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Presented by Roger Pierce NewcomerStartup.com 1. Supportive government Entrepreneurship culture Affordable Access to US market Diverse population.
Entrepreneurship Business Plan Utilizing Financial Documents.
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