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How to use this Guide
Foreword
About the Publishers!
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Introduction
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About Ideas and Opportunities
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Where you can find Information
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The Big Picture
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Types and Examples of Venture Opportunities
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Business Structure Options
Appendix A: Testing Business Ideas
Appendix B: Databases of Business Opportunity Information
Appendix C: Reference
Materials; Suggested Readings and Bibliography
FOREWORD
Over the past several years
both the Atlantic Canada Opportunities Agency and the Business Development
Bank of Canada have been working to stimulate small business development
and growth. Many products and services have been tailored to meet the needs
of clients at various stages of business development. However, most small
business assistance programs assume that the client has already identified
a business idea and is ready to proceed to the business planning or financing
stage. Atlantic Canada is currently experiencing a major surge of interest
in entrepreneurship, as more and more people become motivated to explore
business ownership as an attractive employment option. Consequently, clients
increasingly are approaching us for guidance on business ideas. To address
this identified void in the business support area, we have partnered in
the design of a program which will assist people to work through a process
of finding and evaluating business opportunities. We anticipate that this
publication and associated training programs will extend our range of support,
particularly at the pre-venture stage.
The old saying is that “ideas
are a dime a dozen!” Experience tells us how important the business idea
is to the ultimate survival and success of the business. Therefore it is
important for an entrepreneur to systematically search for and explore
which ideas will present the greatest opportunity for success. This workbook
is a tool which will direct people to a wide range of “places” to find
ideas and evaluate them.
New venture creation and the
growth of small businesses continues to be a key contributor to job creation--
and essential to the economic recovery of the region. Survival of these
businesses is as important to us as it is to all their owners! We are confident
that the distribution and use of this workbook as a stand alone or as part
of the associated workshop series will help make a difference. We look
forward to partnering with business support agencies in the promotion and
delivery of these products, to meet the growing demand for the discovery
of business ideas.
We wish Atlantic Canadians
great success in achieving their personal and business goals and we look
forward to working with them in the realization of both their own dreams
AND the tremendous economic potential of this region.
The Atlantic
Canada Opportunities Agency
and
The Business
Development of Canada.
ABOUT THE PUBLISHERS!
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THE ATLANTIC CANADA OPPORTUNITIES AGENCY:
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The Atlantic Canada Opportunities
Agency (ACOA) is a federal agency whose goal is to provide economic development
leadership in order to foster economic growth through the successful development
of businesses and job creation. Established in 1987 and headquartered in
Moncton, ACOA offers a broad range of programs and services designed to
help entrepreneurs throughout all stages of the business life cycle.
Development of small business
is the main focus of ACOA. The Agency offers direct financial assistance
to commercial enterprises and also provides indirect assistance by funding
non-commercial support organizations to provide services to small businesses.
In addition, ACOA demonstrates its economic development leadership through
special co-operative accords with the four Atlantic provinces. Through
these, federal and provincial funding is directed to activities of mutual
concern and interest.
By increasing entrepreneurial
activity through awareness programs, training and better access to business
information and counselling, ACOA helps accelerate the growth rate of new
entrepreneurs and the expansion of existing businesses. The translates
into more new jobs for Atlantic Canada. Other priorities of the Agency
include developing Atlantic Canada’s tourism potential through co-operative
region-wide efforts, enhancing the competitiveness of businesses through
strategic use of technology, promoting better business management practices,
identifying trade opportunities, and improving access to small business
financing.
| THE BUSINESS DEVELOPMENT BANK OF CANADA: |
The Business Development Bank
of Canada’s (BDC) mission is to help create and develop Canadian small
and medium-sized businesses by offering a wide variety of timely and relevant
financial services such as loans, Venture Loans® and venture capital
as well as extensive business counselling, training and mentoring services.
The Bank’s services are made available across Canada through a broad network
of 78 branches.
The Business Development Bank
of Canada offers a variety of flexible and innovative financing services
specially designed to meet the needs of today’s small and medium-sized
businesses.
BDC does everything possible
to structure the repayment terms of its loans according to its clients’
ability to repay. The Bank offers a variety of terms and conditions, such
as equal monthly payments, stepped principal payments or seasonal payments
for companies whose income varies seasonally.
BDC complements the services
offered by private-sector financial institutions by working with them to
meet the financial requirements of small and medium-sized businesses.
The Business Development Bank
of Canada offers a wide range of management services designed to meet the
needs of potential and existing entrepreneurs in communities across the
country. BDC takes a practical, problem solving approach to helping entrepreneurs
develop and improve their business management skills. The Bank’s Management
Services activities can be divided into five categories, counselling,
business mentoring, training in management, special initiatives and publications.
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