Opportunities and Assistance for Self-Employment

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1 Opportunities and Assistance for Self-Employment Presented by: Humaira Hamid, Futurpreneur Canada Natasha Reger, The Reger Group Jayme Canotal, Small Business BC 2016 Summer Labour Market Conference: Skills for a Changing Job Market

2 Trajectory of a business: typical milestones Idea Business Plan Financial Forecasting / Statements Funding & resourcing e.g. money, advising Launch & growth Operations, sales

3 Characteristics of Entrepreneurs: Lessons Learned of Success and Struggle Successful Entrepreneurs NICHE: Clear understanding of their fit in the market place. VISION: Clear identification of the opportunity see the big picture. Not blinded by beliefs. FOCUS: Understand who their customer is and isn t. VALUE PROPOSITION: Understand the value they offer. CURIOUS: Always ask so what does this mean? Struggling Entrepreneurs BROAD: Anyone who needs their product service is a customer. UNDEFINED: Belief they have to be flexible and adaptable with product or service offerings. STUCK INWARD: Don t spend time getting outside taking action UNDER-RESOURCED: Financing, advising, community support. PRESSURED: Unable to stay curious strong critical belief This just has to work.

4 The ability to respond to market changes and demands is vital for any successful entrepreneur.

5 Self Employment Program: What Is It? A 48-week program funded through Employment and Labour Market Services (Province of BC) to assist EI eligible recipient clients in starting their own businesses. Goal of the Program To assist clients in becoming self sufficient in their business.

6 Who qualifies? An ACTIVE E.I. claimant, MUTUAL client, have FORMER client status, BCEA PWD/PPMB, general client with a disability Able to raise the required monies to start and operate your business. Prepared to invest in your business. Business is not already started, or it is new to you & not yet purchased. You do not own a publicly accessible website. You do not have a business registered in your name.

7 Developing Habits This Self Employment Program is focused on helping clients develop the habits of successful entrepreneurs. Assumptions Research Evaluation Decision ACTION

8 ABOUT SMALL BUSINESS BC Who are we? Not-for-profit, Social Enterprise and B.C.'s premiere resource center for knowledge-based business products and services. Our vision To be a champion for British Columbia s small businesses. Our mandate To provide the relevant information, appropriate tools and resources needed to achieve successful and sustainable business.

9

10 Connect With Us Jayme Canotal E: P:

11 About Us Since 1996, Canada s only national non-profit organization providing financing, mentoring, and support tools for young (aged 18 39) aspiring Canadian business owners and entrepreneurs. Pre-launch coaching Start-up financing One-on-one Mentorship Business planning resources Community: local, national, global Partner with 100s of Canadian organizations Embedded in the global entrepreneurship ecosystem Recognized as BC s Entrepreneurial Support Organization of the Year by Startup Canada

12 Facts & Impacts Created to support ambitious aspiring owners deemed too risky for traditional lending with financing and startup life-cycle guidance Supported 9 businesses to launch (1996); 1,006 businesses launched in 2015 Canadian host of Global Entrepreneurship Week (2009)

13 Startup Program = M 2 The Money Up to $45,000 ($15k + $30k BDC) Character-based (unsecured!) Best interest rates on the market (prime + 3%) Flexible 5-year repayment schedule Interest only (no principal) payments in Year 1 The Mentor 2 years of custom-matched one-on-one mentorship

14 An Entrepreneur s Story Kathi R. Thompson is the lead facilitator-trainer in Victoria. She has been fostering cross-cultural conversations and creating effective intercultural teams for nearly 30 years. Clients hire Kathi for her knowledge and experience founded on working with a range of cultures. She is skilled in helping clients achieve their goals, working closely with them to create a customized plan for helping diverse groups learn to work cohesively. They hire her again and again to deliver intercultural skills training that transforms a plan into interconnected teams. Developing an intercultural mindset will make room for fresh new perspectives and motivated teams

15 Thank You Q & A 2016 Summer Labour Market Conference: Skills for a Changing Job Market

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