Presented by Roger Pierce NewcomerStartup.com 1. Youre starting a business! 3 Million Canadian Entrepreneurs Most respected occupation Youll need some.

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Presentation transcript:

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%) 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

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