Survive and Thrive » Other Resources

What do I need to know before I begin exporting my product?

Survive and Thrive — Tue, 14 Jul 2009 04:24:23 +0000

If you are considering exporting a product or service, it is important to ensure that your domestic business affairs are in order first. After that, you’ll want to amend your business plan to include a detailed description of your export strategy. For instance, you’ll need to consider how your market, your advertising, your distribution and your pricing will change once you’re doing business outside of Canada.

There are many Government of Canada resources available to assist you in planning for this aspect of your business:

At the Canada-Ontario Business Service Centre Web site you’ll find the following three export guides:

Export Info-Guide 1: Preparing for World Markets (This Info-Guide’s “Regulations” section highlights the legal requirements for exporting.)

International Market Research (International Trade Canada’s (ITCan) Market Research Centre (TMR) produces a full range of sectoral market information products to help Canadian exporters identify foreign market opportunities.

Export Info-Guide 3: Entering World Markets (This guide will help navigate through the federal and provincial government resources that would be of interest to businesses involved in exporting.)

The Department of Foreign Affairs and International Trade has many services that are suitable for new exporters. The Canadian Trade Commissioner Service web site provides free access to hundreds of sectoral market studies and country-specific reports prepared by its Market Research Centre and by its offices abroad. These reports are intended to help you identify foreign business opportunities and learn more about your target market. Once you are prepared to do business abroad, you can use this site to get in touch with the employees of its 135 offices around the world and request one of its personalized core services.

DFAIT’s Export and Import Controls Bureau is responsible for administering the Export and Import Permits Act (EIPA). The EIPA delegates (to the Minister of Foreign Affairs) wide discretionary powers to control the flow of goods contained in specified lists provided for under the Act.

The Government of Canada’s Export Source web site is a gold mine of information for exporters. It provides a single access point to all trade-related government departments and agencies on subjects including:

Preparing to Export
Researching Countries and Sectors
Marketing Your Exports
Entering the Market
Financing Your Exports
Getting the Product or Service to Market
Preventing and Resolving Problems
Understanding the Global Marketplace

All Canadian individuals or businesses exporting on a commercial basis must obtain a Business Number in order to account for their goods. Canada Revenue Agency (CRA) uses this number to identify a business and to process customs accounting documents.

The Royal Bank has a valuable web site intended for small business entrepreneurs. On this site, you’ll find a complete guide to exporting entitled Exporting for Small Business.

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What do I need to do to begin importing?

Survive and Thrive — Tue, 14 Jul 2009 04:18:43 +0000

Rules, regulations and taxes for importing products depend on the product that you are importing, as well as what country you are importing from. You might want to enlist the services of a customs broker if importing becomes a regular component of your business strategy. A customs broker works to make the importing process seamless for your organization. Customs brokers control all shipping, documentation and work to get the goods to you as quickly and cheaply as possible.

Canada Border Services Agency is responsible for most of the legislation related to importing.

The Canada-Ontario Business Service Centre’s Importing Info-Guide is designed to help you navigate through the federal and provincial government programs services and regulations that may apply to individuals and businesses importing products into Ontario.

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I am looking to finance my growth. What options are available?

Survive and Thrive — Tue, 14 Jul 2009 04:13:06 +0000

When looking to finance growth, you have a number of options available. It is much easier to obtain bank financing for an existing business than it is for a new venture. If you are an existing business, the bank may finance your growth based on your company’s accounts receivables, inventory, assets, and debt coverage (the ability of your company to service the debt repayment through their cash flow). Ensure that you have your most current financial statements prepared as well as a document outlining why you require financing, and how much money you require.

You may also want to consider factoring, an equity investment or growing through cash flow. Visit the Ottawa Capital Network’s Web site for more information. The objective is to explain the funding game, what it’s all about, and what you can do to increase your odds of success.

You might also visit Industry Canada’s Steps to Growth Capital Web site. It’s very comprehensive and informative.

As well, the Entrepreneurship Centre can offer you consultations with one of the business advisors to review financing options more specific to your situation.

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How can I win federal government contracts?

Survive and Thrive — Tue, 14 Jul 2009 03:57:23 +0000

The federal government is a substantial purchaser of goods and services in the Ottawa region. Winning a government contract can result in a sizeable increase in sales for your small business. Check out these sites for a wealth of information on doing business with the government.

Contracts Canada is a federal government department of PWGSC (Public Works and Government Services of Canada) available to assist you in doing business with the federal government. This office offers a number of services that will be useful to you, as you try to win your first federal contract. The telephone number for the Information Centre is 1-800-811-1148.

Contracts Canada also offers FREE seminars that will provide an excellent overview of the process as well as advice on writing proposals.

Another component of the Contracts Canada web site that we find useful is the Contract History section. This section identifies all government contracts that have been awarded over the last few years, who issued them, which organizations completed the contracts and the dollar value of those contracts. This information will be very useful to you in conducting market research.

The Supplier Registration Information (SRI) is a database of registered suppliers who are interested in doing business with the federal government. This information is used by federal government purchasers to assist them in sourcing suppliers for low dollar amount purchases. Small businesses must self-register to be included.

Created and powered by Cebra Inc. (a Bank of Montreal company), MERX is Canada’s largest B2B portal. MERX is the federal government’s online tendering service. Municipalities, schools and hospitals also use this service to post requests for proposals (RFPs). All government contracts for goods and services above a specific dollar amount are posted on this site. Membership is optional and there is a cost associated with downloading documents.

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Profitability through your Financial Statements

Survive and Thrive — Mon, 13 Jul 2009 19:02:03 +0000

In this module courtsey of Entrepreneurship Centre, domain experts from Welch & Company LLP and RBC Royal Bank walk you through a more thorough analysis of financial statements and will help you to understand what makes up your “financial health”. In addition, you will learn some of the things that banks look for as they assess your credit worthiness.

Please CLICK HERE to go to the website of Entrepreneurship Centre to see the full visual tutorial.

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Guide to Market Research for Small Businesses

Survive and Thrive — Mon, 13 Jul 2009 18:51:13 +0000

Getting ready to start a new business or researching for future business decisions? Do you want to know your

customers better and understand your business environment?

This Ottawa Public Library research guide gathers up-to-date sources of demographic and related statistical

data to help you develop business strategies, do market research, prepare business plans, and select and

evaluate possible business locations. The Ottawa Public Library website is www.BiblioOttawaLibrary.ca. For

more help, e-mail business@BiblioOttawaLibrary or call 613-580-2424 x32140 (Main Library) or x41467

(Nepean Centrepointe branch).

Getting ready to start a new business or researching for future business decisions? Do you want to know your customers better and understand your business environment? This Ottawa Public Library research guide gathers up-to-date sources of demographic and related statistical data to help you develop business strategies, do market research, prepare business plans, and select and evaluate possible business locations.

The Ottawa Public Library website is www.BiblioOttawaLibrary.ca. For more help, e-mail business@BiblioOttawaLibrary or call 613-580-2424 x32140 (Main Library) or x41467 (Nepean Centrepointe branch).

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OBJ Business Survival Guide, Part II

Survive and Thrive — Mon, 13 Jul 2009 15:17:44 +0000

The Ottawa Business Journal’s second Business Survival Guide provided a series of articles with insights from experts on a range of topics, from maintaining employee morale during a period of layoffs, to understanding when to outsource, handling commercial leases, managing the books and getting the most out of a marketing budget.

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OBJ Business Survival Guide, Part I

Survive and Thrive — Mon, 13 Jul 2009 15:06:39 +0000

The Ottawa Business Journal’s first Business Survival Guide provided a series of articles with insights from experts on a range of topics, from handling economic downdrafts as a technology company, to mitigating the impact of volatile commodity prices on your cash flow, managing facilities costs and financing options for startups.

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Export Tutorial from Entrepreneurship Centre

Survive and Thrive — Wed, 08 Jul 2009 20:07:54 +0000

This 30 minute online tutorial is designed to help you understand the issues that you need to consider in order to prepare yourself for international trade. Developed in conjunction with Export Development Canada, this tutorial will highlight the key questions that you need answered before you make the decision to export. The session is facilitated by a trade expert and includes links to resources, agencies and organizations that can assist along the way. In addition, please contact one of our business advisors for information on other services and training we offer to new and existing exporters.

Please CLICK HERE to go to the website of Entrepreneurship Centre to see the full visual tutorial.

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Apprenticeship Job Creation Tax Credit (AJCTC)

Survive and Thrive — Wed, 08 Jul 2009 16:57:48 +0000

The Apprenticeship Job Creation Tax Credit (AJCTC) is a non-refundable federal tax credit equal to 10 per cent of the eligible salaries and wages payable to eligible apprentices in respect of employment after May 1, 2006. The maximum credit is $2,000 per year for each eligible apprentice.

Any business that hires an “eligible apprentice,” can qualify for the credit. An eligible apprentice is someone who is working in a prescribed trade in the first two years of their apprenticeship contract. This contract must be registered with a federal, provincial or territorial government under an apprenticeship program designed to certify or license individuals in the trade.

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