9.PLANNING FOR YOUR BUSINESS ………………………………………………………………………………….42
What is a business plan? …………………………………………………………………………………………………….43
Why do you need a business plan? ……………………………………………………………………………………….43
Why should you write a business plan?………………………………………………………………………………….44
Who should write your business plan? …………………………………………………………………………………..44
What are some common guidelines when writing a good business plan? ……………………………………..45
Where can you find the market research, industry and competitor information for your plan? ………….46
How do you prepare the financials in your business plan?………………………………………………………….48
What are some common mistakes in writing a business plan? ……………………………………………………49
In what order should you write your business plan in? ………………………………………………………………52
Should you be using software to help you write your business plan? …………………………………………… 53
Where can you find sample business plans and templates? ……………………………………………………….54
How long should your business plan be?………………………………………………………………………………..54
Can you go on without having a business plan?……………………………………………………………………….55
10.BUSINESS CONTINUITY PLANNING……………………………………………………………………………..56
What are the steps of business continuity planning? ………………………………………………………………..56
11.WRITING YOUR BUSINESS PLAN………………………………………………………………………………….59
Is the order of the business plan important? …………………………………………………………………………..59
Small Business Startup Guide
www.CanadaStartups.org 2Naming your small business ……………………………………………………………………………………………….24
Permits, licenses and regulations …………………………………………………………………………………………25
Employees, payroll and taxes………………………………………………………………………………………………25
Business registration links ………………………………………………………………………………………………….26
Provincial and territorial business registration ……………………………………………………………………….. 27
Incorporating your small business ………………………………………………………………………………………..30
Permits, licenses and regulations …………………………………………………………………………………………32
7.BUSINESS PLANNING………………………………………………………………………………………………….. 33
Why do you need a business plan? ………………………………………………………………………………………. 33
The different types of business plans ……………………………………………………………………………………34
8.FINANCING YOUR BUSINESS ………………………………………………………………………………………..38
Why is having money important to start a business?………………………………………………………………..38
Where will you get the money from?…………………………………………………………………………………….40
9.PLANNING FOR YOUR BUSINESS ………………………………………………………………………………….42
What is a business plan? …………………………………………………………………………………………………….43
Why do you need a business plan? ……………………………………………………………………………………….43
Why should you write a business plan?………………………………………………………………………………….44
Who should write your business plan? …………………………………………………………………………………..44
What are some common guidelines when writing a good business plan? ……………………………………..45
Where can you find the market research, industry and competitor information for your plan? ………….46
How do you prepare the financials in your business plan?………………………………………………………….48
What are some common mistakes in writing a business plan? ……………………………………………………49
In what order should you write your business plan in? ………………………………………………………………52
Should you be using software to help you write your business plan? …………………………………………… 53
Where can you find sample business plans and templates? ……………………………………………………….54
How long should your business plan be?………………………………………………………………………………..54
Can you go on without having a business plan?……………………………………………………………………….55
10.BUSINESS CONTINUITY PLANNING……………………………………………………………………………..56
What are the steps of business continuity planning? ………………………………………………………………..56
11.WRITING YOUR BUSINESS PLAN………………………………………………………………………………….59
Is the order of the business plan important? …………………………………………………………………………..59
Small Business Startup Guide
3www.CanadaStartups.org
12.FINANCING FOR YOUR SMALL BUSINESS…………………………………………………………………….. 70
13.PERSONAL FINANCING………………………………………………………………………………………………. 72
14.PRIVATE SECTOR FINANCING ……………………………………………………………………………………..76
So what is cash flow?………………………………………………………………………………………………………… 76
What is collateral?……………………………………………………………………………………………………………. 76
What is commitment? ………………………………………………………………………………………………………. 76
What is character?……………………………………………………………………………………………………………. 76
How do you make a good impression with potential lenders?……………………………………………………. 76
Going to the bank for financing…………………………………………………………………………………………… 77
Equity for financing………………………………………………………………………………………………………….. 79
What do these investors want in return for their investment?……………………………………………………. 79
Who are angel investors?……………………………………………………………………………………………………80
Who are venture capitalists?……………………………………………………………………………………………….81
Business Incubators…………………………………………………………………………………………………………..81
Crowdfunding your business……………………………………………………………………………………………….82
15.GOVERNMENT FINANCING………………………………………………………………………………………….84
What exactly do you need money or assistance for, and how much? ………………………………………….. 87
Government grants, financial contributions and assistance……………………………………………………….89
Grants and subsidies …………………………………………………………………………………………………………90
Conditionally repayable contributions…………………………………………………………………………………..90
Equity financing ……………………………………………………………………………………………………………….91
Government support and assistance …………………………………………………………………………………….91
Loans, cash advances and guarantees …………………………………………………………………………………..92
Low interest and no interest loans ……………………………………………………………………………………….92
Government guaranteed loans ……………………………………………………………………………………………92
Tax refunds and tax credits …………………………………………………………………………………………………93
Wage subsidies ………………………………………………………………………………………………………………..93
Applying to funding programs …………………………………………………………………………………………….94
Tips to help you in your search for funding programs ……………………………………………………………….95
Tips to help you in your funding application process ………………………………………………………………..96
