Welcome to the July/August 2004 issue of infosource News. We hope you enjoy our monthly e-mail newsletter, meant to keep you informed of the services and resources available at business infosource, issues that effect you and your business, as well as upcoming events.

Growing Locally - Succeeding Globally

On October 17^th and 18^th Saskatchewan Trade and Export Partnership (STEP) and Export Development Canada (EDC) will host their annual conference, Growing Locally - Succeeding Globally in Saskatoon at the Radisson Hotel. In its sixth year, this conference brings together experts from various international organizations who will share their knowledge and services in an information-packed two-day conference.

Who will you find at STEP's annual Conference? You will find domestic and international attendees:

• Exporters of goods and services
• Potential Exporters
• Service Providers
• Distributors/Agents
• Senior Officials

Question of the Month

Question of the Month: I'm considering purchasing a franchise rather than building a business from scratch. What should I know to help me evaluate the franchise opportunity?

Response: Franchising has become a major force in today's business environment. Franchising is a system of distribution used by companies to sell products or perform services. The company (franchisor) offers its technical expertise, established marketing system, symbols and trademarks, and ongoing operational support in exchange for a continuing right to entitlement to receive royalties from the operator (franchisee) and an entitlement to limit the amount of business control. The aim is to be mutually beneficial to both parties by combining the marketing and technical strength of the franchisor with the local market familiarity, energy and capital of the franchisee.

Once you've decided a franchise is the right route for you, how do you choose the right franchise? Not only are there an enormous number of franchise choices available in each industry sector, but there are also many variations in the franchising methods offered. To ensure your success you must be fully aware of, and evaluate, all available facts pertaining to your franchise opportunity.

The following checklist of questions should assist you in making a decision about acquiring a franchise. It is also strongly recommended that you consult with your lawyer and accountant before you sign any documents or contracts.

• Self evaluation - capital, skills, experience;
• The Franchise Operation - this is where you perform the due diligence on specific franchises that interest you;
• The Product or Service - is it unique? in demand? seasonal? what about supply? warranties?
• Location and Sales Territory - defined and exclusive? growth potential? competition?
• Other Franchisee Experience - Contact other franchisees about their experiences with the franchisor;
• Franchise Contract - get professional advisors to help analyze the contract (lawyer, accountant)

The Role of Customs Brokers in the Export Process

The most successful leaders in the business world recognize that one of the best ways to build a business is to rely on experts in certain fields. The lawyers conduct the legal work, the accountants manage the financial matters and the engineers design the products.

There are many areas of expertise required in the export process and one of the most important and complex is clearing goods through customs. Exporters can rely on a qualified customs broker to effectively handle the documentation and logistics services required to clear goods through customs.

In most cases, a Canadian exporter will engage the services of a customs broker in Canada, who then works directly with a foreign broker based in the country where the exports are destined. In complex export processes involving multiple foreign destinations en route to the final place of sale, foreign brokers in these countries may be enlisted into the operation as well.

business infosource Library

In addition to the thousands of reference books, the electronic databases and the audio and video tapes available to help clients with their business research at the business infosource library, we subscribe to over 100 different magazines. In this edition of infosource News we're going to list some of the business periodicals that can be accessed through our library and the lending policy for borrowing them.

Some of the magazines and periodicals we subscribe to are monthly publications, others arrive quarterly or semi-annually. Some of the publications are very general in content while others are specific to certain sectors or industries. Listed below are titles of just a few of the periodicals available in the business infosource reference library collection (click on the title to view a full abstract):

Youth Opportunities Unleashed (YOU) Program

Since the early 1990s, entrepreneurship has rapidly been gaining popularity as a viable career option for Canadian youth. In 1997, a Royal Bank/Angus Reid report showed that 32 percent of people between the ages of 18 and 35 preferred entrepreneurship to any other career choice and twenty-nine percent expected they would be self-employed within five years. While entrepreneurship is cited as a desirable profession by so many, a number of barriers stand in the way of young people becoming successful business owners. More than anything else, lack of start-up financing is mentioned. Accessing capital can be a frustrating process for young entrepreneurs because banks are low risk lenders, and quite often youth are not able to meet the qualifying criteria for traditional loans.

In response to this major hurdle faced by young entrepreneurs in the province, Saskatchewan Industry and Resources (SIR) launched a program in June of 2004, designed specifically for entrepreneurs between 18 and 30 years of age. The Youth Opportunities Unleashed (YOU) Program addresses the key concern when lending to young entrepreneurs - the lack of experience and business skills. The YOU initiative consists of three components - loans, training and mentorship.

"Sources of Financing" Web Site

At one time or another most entrepreneurs will run into a situation where they need access to some type of financing. Whether you're searching for seed capital, working capital, export financing, or just information on different types of financing, you will find it at this Web site.