Is Running a Business for Me?

IS RUNNING A
BUSINESS FOR ME?
Contents
Foreword
3
1. Introduction
4
a. Aboriginal Albertans in Business
4
b. Success Stories
5
2. What is an Entrepreneur?
8
a. Characteristics of an Entrepreneur
8
b. Entrepreneurship Self-assessment
9
3. What’s the Right Business for Me?
10
4. Business Sectors
11
a. Agriculture
11
b. Construction
12
c. Forestry & Forest Products
14
d. Retail
15
e. Tourism
15
f. Transportation
17
g. Other Services
18
5. Business Trends
18
a. Home-based Business
19
b. International Trade & Export
20
c. E-Business
21
6. I’m Ready to Start – Now What?
22
a. Preparing Yourself
22
b. What Business Structure Should I Use?
23
c. Help with Business Planning
23
d. Financing My Business
24
7. Training Opportunities
24
a. Small Business Training
25
1
b. Technical Training
8. Resources
25
26
a. Mentors & Advisors
26
b. Resources for Aboriginal Women
26
c. Resources for Aboriginal Youth
27
d. Research & Other Resources
27
9. Final Thoughts
28
Disclaimer:
The information presented in this document is intended as a guide only, and while thought to be accurate, is provided strictly “as is”
and without warranty of any kind. Business Link, its employees, its directors and members, its agents or contractors will not be
liable to you for any damages, direct or indirect, or loss profits arising out of your use of information provided within this document,
or information provided within Business Link’s websites.
This material may be used, reproduced, stored or transmitted for non-commercial purposes; however, Business Link’s copyright is
to be acknowledged. You may not use, reproduce, store or transmit this material for commercial purposes without prior written
consent from Business Link.
© 2015 Business Link
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Foreword
Business Link is Alberta’s entrepreneurial hub. We are a non-profit organization that helps
Alberta entrepreneurs start their own businesses. We’ll give you the tools to make your
business idea a reality and connect you with the most relevant resources to help bring your idea
to life.
Helping small business owners isn’t new to us – we’ve been doing it since 1996. We wouldn’t be
able to do what we do without the funding support of the Governments of Alberta and Canada.
Aboriginal Business Development Services (ABDS) offers specialized support to Aboriginal
communities and entrepreneurs across Alberta. From startup to expansion, our resources are
tailored to meet the unique needs of our Aboriginal clients. We offer:
For Aboriginal entrepreneurs:
 Personal one-on-one service
 Informative guidebooks
 Connections to a network of service providers
For Aboriginal communities (First Nations, Metis, and Inuit):
 Free small business training delivered in your community
 Presence at your tradeshows, job fairs, and other entrepreneurial-focused events
 Complimentary mail-outs of our small business guidebooks
This publication is part of a series of informative guides designed for Aboriginal Albertans in
business. To find out more about ABDS services and to request copies of our guides, contact us
at:
Business Link
Toll-Free: 1 800 272-9675
In Edmonton: 780 422-7722
Email: [email protected] Web Page: www.businesslink.ca/abds
Aboriginal Business Development Services (ABDS) is a specialized service
of Business Link which is supported by the Governments of Canada and Alberta.
3
1. Introduction
Is Running a Business for Me? will help you assess your suitability to run your own business. No one
else can decide whether running a business is right for you but you. Please review the material in this guide
carefully before you make your decision.
Whether you are new to the workforce or thinking about a career change, like many Aboriginal people in
Alberta, you may be drawn to self-employment. If you have never run a business before, you will have
many questions and some doubts about whether entrepreneurship is a good move for you. We have
gathered information that will answer some of your questions and start you off in the right direction.
Once you have decided that entrepreneurship is right for you, you will need to decide what type of
business you want to operate. The second half of this guide is intended to provide Aboriginal
entrepreneurs with the information needed to find the right opportunity to develop a successful business
in Alberta.
We highlight sectors in this guide that may be most attractive to new entreprene urs. Sectors requiring
considerable capital and expertise or sectors that are already occupied by major competitors including
energy, manufacturing and information technology are NOT included in this guide. However, if you have
the right product at the right time, you can succeed in any sector.
Tackling the many issues involved in starting your business can be overwhelming. Following a step-by-step
approach will make the process easier. If you have any questions throughout the entrepreneurship process we
are happy to help; visit the Business Link website or give us a call at 1 800 272-9675.
We have featured a number of Aboriginal entrepreneurs throughout this guide who offer their advice and
guidance.
a. Aboriginal Albertans in Business
Aboriginal Albertans are getting into business. Aboriginal entrepreneurs are starting and running
successful businesses in almost every industry sector—from logging to computer programming. By
succeeding in business, Aboriginal business people demonstrate, to their families and their communities,
that participation in the Alberta economy is available to all Albertans.
4
b. Success Stories
Many Alberta Aboriginal business people operate successful businesses. Here are a few examples.
Janice Laroque, Spirit Staffing & Consulting Inc., Calgary
www.spiritstaffing.com
Spirit Staffing & Consulting Inc. was established by Janice Larocque in 1998, a driven and dynamic
Métis woman with 20 years of experience in Human Resources and Management. Janice’s vision for
an equal opportunity staffing agency was conceptualized during her eight years as manager of an
employment and training centre. Fast Labour Solutions, our industrial division, was opened in 2000. FLS
offers industrial placements as well as Certified Safety Training.
Spirit Staffing/Fast Labour is committed to providing quality service and professional staff. Our company
has an excellent track record in providing cost-effective and culturally diverse employees with multilingual
capabilities. Our agency has been incredibly successful during its ten-year tenure, with Spirit
Staffing receiving numerous business awards.
Spirit Staffing & Consulting Inc. currently operates offices in Calgary and Edmonton.
Why did you go into business?
Spirit Staffing was created as an equal opportunity staffing agency.
What inspired you to run a staffing and consulting business?
My experience was working at an Employment and Training Centre for eight years and I wanted to take
it to the next level.
What advice would you give to aspiring entrepreneurs?
Be prepared for good times and bad times.
What is the biggest lesson you’ve learned about being in business?
Making sure that you have enough cash flow and to monitor it closely.
5
Brenda Holder, Mahikan Trails, Canmore
www.mahikan.ca
Mahikan Trails is a soft adventure company and we specialize in hiking, cross country skiing and snow
shoeing, so we do activities year round. They may be single or multi-day programs. We partner with a
dog sled company and a caving company to complement our programs.
Mahikan Trails also does traditional programs where we offer survival type programs (based on Native
skills) such as fire lighting, shelter building, getting food whether it is trapping, gathering plants, etc. and
many other aspects. In addition we offer traditional programs and camps such as hide tanning, moccasin
making etc.
Why did you go into business?
I went into business because I came to a realization that I was never going to be happy working for
someone else. I found that jobs I entered lost their charm very quickly for me and the challenges of
the jobs were overcome quickly and I grew bored and frustrated. So I made the decision to go into
business for myself and I’ve never looked back!
What inspired you to run a tourism business?
Tourism was the only sensible thing for me to look at building as a business since that is where all my
interests and skills were. I also realized that Aboriginal Tourism was one of the fastest growing segments
in tourism.
What advice would you give to aspiring entrepreneurs?
I would say that aspiring entrepreneurs should never be afraid to reach into the community or other
similar businesses and seek out advice. And always be confident, even if you don’t feel like it
sometimes – you have decided on being an entrepreneur for a reason and you have a gift – go for it!
What is the biggest lesson you’ve learned about being in business?
My biggest lesson learned was to never give up. Even when things seem like they can’t get any worse,
suddenly the whole world opens up if you stay with it and don’t give up.
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Tanya Eagle Speaker, Eagle Spirit Embroidery and Promotions, Blood Tribe
Eagle Spirit provides embroidered sportswear, promotional products, and a retail gift shop.
Why did I go into business?
I’ve always been an entrepreneur, even as a child selling bracelets and Regal products. But I really
discovered my niche as a stay-at-home mom. I began sewing jackets for customers and I found that
there was a market for embroidery.
What inspired me to run a business?
From the courses I took at college, I realized that pursuing a business was possible but also very
risky, considering the statistics of running a business on-reserve. But I really wanted to achieve my goal
in owning a business and being my own boss.
What advice would I give to aspiring entrepreneurs?
I would tell them to ensure that you have a good credit rating in order to obtain funding for your
business. I would also encourage them to find a mentor, someone who will provide advice and
encouragement.
What is the biggest lesson I’ve learned about my business?
I learned that owning my own business requires a lot of hard work, dedication and long hours. I’ve also
learned that owning a business on-reserve is a lot more challenging and there are more obstacles to
overcome than owning a business off-reserve.
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2. What is an Entrepreneur?
Entrepreneurs are individuals with their own unique strengths. Here are some of the characteristics they
share:

They see opportunities and have the courage to go after them

They are willing to learn

They learn from their mistakes and are determined to try again

They enjoy challenges and finding creative solutions to problems
There are many rewards to being a successful entrepreneur. You can run your business according to
your values and belief systems. You can also make things happen in your community. There are
opportunities for Aboriginal people to start their own business but it is not right for everyone. This guide
will help you decide if entrepreneurship is right for you.
a. Characteristics of an Entrepreneur
Successful entrepreneurs have many qualities including the following:

Drive: energy, commitment, willingness to work hard

Personality: confidence, leadership, optimism, comfort with risk, ability to make decisions

Skills: planning and organization, ability to innovate, communication skills
If you are interested in becoming an entrepreneur but do not presently have these key qualities, you
might consider how you can acquire them through training, experience or modeling successful
entrepreneurs that you know. The self-assessment quiz that follows may help you to decide your
readiness to become an entrepreneur.
8
b. Entrepreneurship Self-assessment
You may be a good candidate for self-employment. Use the following self-assessment quiz to help you
decide. Check Yes or No for each statement.
Readiness
Yes
No
Yes
No
Yes
No
Yes
No
I understand the basics of running a business
I am comfortable investing my money in the business
I am comfortable borrowing money with an obligation to repay the loan
I have researched my business idea and conclude it has a good chance of success
Attitude/Motivation/Personal Skills
I have the confidence to run my own business
I want the responsibility and potential rewards of running a business
I am willing to work hard to make the business succeed
I am well organized
I am calm under pressure
Management Skills
I am comfortable making business decisions and sticking by them
I am open minded
I enjoy solving problems
I can manage people including hiring, directing, correcting and firing
I am able to delegate tasks to others and use the skills of others
People Skills
I get along with others
I am comfortable selling my products or services
If you answered YES to most of these questions, you are a good candidate to run your own business. If
you answered NO to any of these questions, you will want to address the issues identified. You may
revise your business strategy or improve your readiness through training. For example, if you are
NOT comfortable managing people, you might decide to run a company with one employee (you) or
improve your managerial skills through training and skill development.
There are many resources to assist you to decide if you have the right skills and qualities to be selfemployed. More self-tests can be found at:

www.bdc.ca

www.alis.alberta.ca/ce/career-explorers.html
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3. What’s the Right Business for Me?
Once you’ve decided entrepreneurship is for you, it’s time to decide what type of business you will
operate.
Start with You
Before considering any of the sectors highlighted in this guide, we suggest you start with you. List the
knowledge and skills you already have based on your experience and education. Not surprisingly,
many successful businesses owe their success to an entrepreneur who knows the business BEFORE
getting into business. Maybe you have worked for someone else in the retail, tourism or construction
industry. Starting a business doing something you know well will increase your chance for success.
Take a close look at yourself!
Getting Started
To identify a viable commercial opportunity, consider these strategies:

Create a new opportunity – You can create a new product that meets currently unmet market
needs. For instance, Aboriginal tourism is doing well because many tourists enjoy experiencing
Aboriginal culture.

Use existing opportunities – Find a market that is not well served by current businesses. Learn
from competitors. Their weaknesses may provide a business opportunity for you. Their success will
tell you what you are up against.

Re-invent a product or service – It must be different than the old version but you can market it
to a different group of people or a foreign market. For example, can camping be combined
with Aboriginal tourism to encourage more tourists to explore the great outdoors?
Research Phase
To find promising opportunities, try this approach:
10

Do your homework – Research a number of ideas before selecting one with the most promise.
Use all available resources (including those provided in this guide) to get as much information
about the industry and market you identify as promising.

Confirm there is a market for your business – Are there customers who will pay for your
product or service? Identify and assess any competitors in your market area. Many economic
development resources, including Business Link can help you find this information.

Ask for help – Business Link and other resources provided in the following sections of this guide
can help you avoid mistakes others have made and build a business more likely to succeed.
4. Business Sectors
Aboriginal businesses in Alberta operate in many sectors. However, most new Aboriginal businesses are
small businesses. In this section, we highlight sectors where you may get started with limited or less
capital than other industry sectors. Note that all businesses require varying degrees of investment.
These opportunities are presented in alphabetical order for ease of reference only. Candid comments
about the potential benefits and risks of investing your time and money in any sector are provided to
help you make realistic decisions about your business venture.
a. Agriculture
Alberta’s agriculture sector (crop production, livestock production, mixed farming and support services
for agriculture) is an important contributor to the Alberta economy. It is the oldest sector of the
economy (after trapping and fur trade), deeply rooted in Alberta’s history and culture. Through the use
of technology and innovation, Alberta has developed one of the world’s most productive agricultural
economies.
Worldwide demand for Alberta-produced food and other agricultural products will increase as populations
grow. There is a growing market for clean, wholesome and safe farm products. Markets for new
products including primary and secondary food products, extracted ingredients and non-food agricultural
products for commercial and industrial uses are also expected to grow.
Alberta’s huge agricultural land base and food processing sector will continue to support the growth of
value-added production. The industry continues to branch out into alternative crops and livestock.
11
Should I consider the agriculture sector?
Benefits
Risks
•
Pride of owning your own land and growing
whatever you want
•
No control of prices paid for products grown
(world economy)
•
Using Alberta’s natural resources
(generally good land and water)
•
Weather uncertainty
•
•
Many new opportunities for specialized crops
and livestock are emerging
High input costs (land, equipment, fuel,
fertilizer, feed)
Farm diversification could be an opportunity for you if you are interested in specialized crops, specialized
animal farming, specialized food products, or farm vacations.
Contacts
If you are thinking about developing an agricultural business in Alberta, further information can be found
at the following websites and information sources:
Agriculture and Agri-Food Canada – www.agr.gc.ca
The Agriculture and Agri-Food Canada website provides you with information, research and technology,
and policies and programs.
Agriculture Financial Services Corporation (AFSC) - www.AFSC.ca
AFSC provides financing solutions that make sense for Alberta’s small business and agri-industry owners.
Through their network of 11 offices across the province, AFSC offers term and export financing, capital
sourcing, leasing services as well as business consulting services.
Alberta Agriculture and Forestry – www.agric.gov.ab.ca
On the Alberta Agriculture and Forestry website you will find useful information about agriculture,
business management and economics, and much more.
New Ventures Team – 780 310-FARM (3276)
A service provided by Alberta Agriculture and Forestry, New Venture coaches assist agri-preneurs by
providing industry-specific business and marketing information essential to planning, operating, and
growing your business.
b. Construction
The construction industry covers activities in three areas – industrial construction (dams, highways and
pipelines), commercial construction (high rise buildings, shops and malls), and residential
construction (homes and apartment buildings). It is apparent that the construction industry is far
reaching and unique opportunities for small businesses are attainable. Housing construction is strong
throughout the province, especially in major centres. Specialized trades are needed in housing as it may
take more than 10 trades to complete one single house.
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Alberta’s construction industry is expected to grow in a variety of areas. Growth of infrastructure projects
including road building and expansion of light rail transit systems is ongoing. Strong growth in retail and
wholesale activities will drive commercial construction including distribution infrastructure and
warehousing. With this major industrial activity continued strength in residential construction is anticipated.
Should I consider the construction sector?
Benefits
Risks
•
Starting small feasible
•
Competition with major industry
•
Construction is needed in every
industry sector
•
Dependant on the economy
•
•
Labour costs high
Labour may be found locally
•
•
Labour shortages across the province
Local markets may already exist
•
•
Large insurance-related costs
Employees are hired for each job
Contacts
Alberta Construction Association - www.albertaconstruction.net
This website provides a complete listing of topics that you need to know about the construction
industry: forecasts, career opportunities, regulations, affiliated associations, etc. Helpful links to
resource sites in your area are provided.
Building Trades of Alberta - www.bta.ca
This organization represents unionized workers in the building and construction industries and works to
secure long-term employment for its members in the highest trained, safest and most stable work
environments.
Construction Labour Relations - www.clra.org
This organization provides collective bargaining services, collective agreement administration and
grievance processing, administers labour relations and employment legislation, develops public
policy, fosters construction best practices, and develops, delivers and administers employee training and
development.
COOLNet Alberta - www.coolnet.ab.ca
This organization can provide you with timely, convenient and cost-effective access to construction
procurement opportunities.
Merit Contractor Association - www.meritalberta.com
This association offers a voice for open-shop, non-union and merit-shop firms operating in the
construction industry in Alberta. The MCA focuses on the human resource needs of contractors with
special emphasis on benefit plans, training, retirement programs and placement of field construction
workers.
13
c. Forestry and Forest Products
Alberta’s forest products industry, including secondary industries, has been a major source of
economic growth for Alberta over the past 20 years. But it does experience ups and downs with the
world economy. Future growth in the forest products industry in Alberta will likely be in the value -added
manufacturing sector. This includes log homes, garage packages, sheds, furniture manufacturing,
specialized furniture, prefabricated homes and finished wood products.
Many Alberta Aboriginal companies are entering into joint ventures with non -First Nations
corporations in a wide variety of forestry-related projects. Business opportunities for Aboriginal
businesses can be found in special forest products and services that fulfill a broad range of needs
within Alberta’s economy. Harvesting, land reclamation, surveying and the use of traditional knowledge
are some examples of potential opportunities. Secondary manufacturing offers excellent opportunities
for Aboriginal companies that can operate on smaller volumes of raw material.
Should I consider a business in the forestry sector?
Benefits
•
Opportunities for specialized products
and services
Risks
•
Lots of competition
•
Costs of shipping to market
•
Availability of skilled workers
Contacts
Aboriginal Forestry Initiative - www.nrcan.gc.ca/forests/federal-programs/13125
The goal of this program is to foster enhanced Aboriginal participation in the competitive and
sustainable transformation of Canada’s forest sector.
Alberta Forest Products Association - www.albertaforestproducts.ca
This organization represents Alberta companies who manufacture lumber, plywood, pulp and paper
and secondary manufactured wood products.
National Aboriginal Forestry Association - www.nafaforestry.org
You will find information about working in the forestry industry, complete forestry relat ed data and other
useful links.
Resource Industry Suppliers Association - www.resourcesuppliers.com
Member companies of this industry association provide a variety of goods and services (including
logging) to the primary forest producers of lumber, pulp, paper, newsprint, veneer, plywood, oriented
strand board, MDF, agri-fiber, and numerous other value added and secondary wood components.
14
d. Retail
The retail sector includes all direct sales to the consumer including food, beverage, pharmaceutical
products, shoes, clothing, household furniture and appliances, automobile sales and service,
department store merchandise and more. Retailers vary in size from mobile hot dog stands to big box
grocery, home furnishings and home renovation stores.
Information technology will continue to impact the retail sector. Retail will become more competitive
with more direct selling and elimination of wholesale and middle-persons through delivery of goods
directly from factory to consumer. There may be growth in non-store shopping options including the
Internet, catalogue shopping and ordering by telephone.
Overall, there may be more specialized products and a rise in the number of small retail businesses.
Alberta’s growing population will also strengthen the sector.
Should I consider a business in retail?
Benefits
Risks
•
Can start small
•
Labour shortages, especially in the North
•
Opportunity may be close to home
•
•
Respond to familiar local markets
Depending on product line, may be lots
of competition
•
More opportunities due to advanced
technology
•
Many financial institutions view retail as risky
•
Costs of inventory
•
Vulnerable to close competition
Contacts
Retail Council of Canada - www.retailcouncil.org
This organization advocates to various levels of government on behalf of Canadian retailers. It offers
training and certification programs through the Canadian Retail Institute and publishes Canadian
Retailer to keep members and the general public informed.
e. Tourism
Alberta’s tourism industry derives its strength from the province’s magnificent scenery, service
excellence, lack of provincial sales tax and strong marketing. Alberta offers safe, clean, breathtaking
surroundings and many different tourism experiences, such as outdoor adventures (mountain and
scenic touring, camping, fishing and hunting, trail riding, ranch vacations, wildlife viewing) and vibrant
cities, exciting festivals and cultural events.
15
The tourism industry offers many products such as:

Accommodation including hotel, motel and bed & breakfast operations

Food & beverage

Adventure tourism

Campgrounds

Guided hiking, camping, fishing and hunting

Tour boats and canoeing tours

Trail riding

Ranch vacations

Aboriginal community visits
More First Nations people, Métis, and Inuit are getting involved in the tourism industry sector and have
created a niche, now called Aboriginal Tourism. Aboriginal tourism provides products and services that
are sensitive to the traditions and values of Aboriginal people. Some of the benefits of Aboriginal
tourism include: cultural renewal, a sense of pride, increas ed awareness of Aboriginal and nonAboriginal people, increased employee skills, partnerships between Aboriginal and non -Aboriginal
agencies, and sharing of Aboriginal knowledge
The province has invested millions of dollars into tourism through a number of initiatives which include:

tourism marketing

tourism development and services
Technology will continue to change the travel industry. More people will book trips through the Internet.
Conventional travel agents may become more specialized (cruises, adventure products, etc.). The travel
booking business will likely continue to be very competitive. Tourism business ventures will need to use
more sophisticated approaches to packaging and promotions.
Should I consider a business in tourism?
Benefits
16
Risks
•
Relatively low start-up costs
•
Seasonal demand
•
Opportunity may be close to home
•
•
Industry growing with increasing demand for
unique experiences
Marketing challenge: connecting with potential
customers (national, international) may
be expensive
•
Depending on product, may be a lot
of competition
•
There may be insurance and liability costs
Contacts
Aboriginal Tourism Association of Canada – www.aboriginalcanada.ca/corporate
Provides industry resources, training and workshops, economic development advisory services, and
information for Aboriginal tourism operators and communities in Canada.
Travel Alberta - www.travelalberta.com
This interactive website, complete with Alberta-specific data, can help you assess the viability of your
tourism product idea.
f. Transportation
Transportation, including the movement of goods within Alberta and beyond its borders to other
provinces and countries, plays a big role in Alberta’s economy.
In the future, the transportation sector will likely continue to consolidate into fewer, large firms.
However, there will still be a good number of smaller firms, especially in the trucking industry, because
of its relatively low start-up cost and ability to provide local services.
Technology will change this industry with developments in truck design, brake-by-wire, weigh-in-motion
and satellite communication system technology. These are becoming necessary in a world of just in-time inventory and e-commerce. Efficient intermodal services also ensure competitive inland rail
transportation costs to and from the West Coast. Consequently, Alberta has developed an extremely
modern infrastructure.
Should I consider starting a transportation business?
Benefits
Risks
•
Ability to start small and operate locally with
later expansion
•
Larger trucks are expensive to buy and maintain
•
Fuel is expensive
•
Specialty products and commodities provide
new opportunities with regional markets
•
A lot of competition
•
Shortage of qualified operators
Contacts
Alberta Transportation - www.transportation.alberta.ca
This ministry website provides information on regulations, permits, studies on the industry, and more.
Transport Canada - www.tc.gc.ca
Transport Canada is responsible for transportation policies and programs. It promotes safe, secure,
efficient, and environmentally-responsible transportation.
17
g. Other Services
This sector includes a diverse range of traditional and innovative services that can be delivered by
small business. Examples include:

Building and park maintenance

Home maintenance and repair

Shopping and laundry services

Security services

Home, carpet, furnace and window cleaning

House and pet sitting

Yard maintenance, landscaping and snow removal

Operating public facilities
While the population ages, more opportunities will emerge to meet the needs of this target market.
Older people are more likely to need help to stay in their own homes. There may also be increased
demand for “pamper me” services. People who want to relax and relieve stress may use services
such as massage, relaxation therapy and personal fitness training. They may also use more
traditional services like beauty salons, spas and hairdressers. As people become increasingly
concerned about home security there will be a resulting growth in security services including alarm
systems, improved locking and bolting systems, window bars and house sitting.
Should I consider starting a particular service?
Benefits
Risks
•
Low start-up cost
•
Competition will vary by product and region
•
May work from home
•
Potential market size for some services may
be limited
Contacts
Contact Business Link for resources on the service business you are looking to start –
www.businesslink.ca.
5. Business Trends
As business practices evolve, new and exciting industry trends are emerging. In this section, home based businesses, international trade and export, and e-business will be discussed. We will provide
basic information and contact information. More information on each topic can be easily accessed at
Business Link.
18
a. Home-based Business
Home-based business is growing in popularity. Here are some of the advantages and disadvantages
of a home-based business:
Advantages
•
Minimal start-up costs
•
No additional rent
•
Savings on property taxes
•
More time with your family
•
Being your own boss
•
Setting your own work hours
•
No commute to and from work
•
Freedom to use your own ideas
Disadvantages
•
More time may be spent marketing your
business
•
Less time with family during busy times
•
Stress related to making all the decisions
•
Isolation from the business world
•
More distractions at home
technol
Be realistic in assessing the suitability of a home-based business for you. Remember, not all small
businesses can function from a residential location. You must consider zoning bylaws, getting along with
neighbours, and planning your workspace.
Because a home-based business cannot rely on storefront signage to market products and services,
you will need to work harder to attract customers. Promote your business and develop the right image
through business cards, ads, letters, promotional literature, telephone interaction, websites and personal
contact. Seek advice from professionals, well-established home businesses, the local library, or a local
business service provider. Here are some helpful websites:
•
www.entrepreneur.com
•
www.sbinfocanada.about.com
Contact Business Link for resources on starting an e-business or view our online home-based business
startup guide – www.businesslink.ca/starting-your-business/business-startup-guides/starting-your-homebased-business.
19
b. International Trade & Export
Many Aboriginal entrepreneurs are taking advantage of a growing international market. Indigenous
knowledge and expertise have been sought from international development agencies. Areas of
Aboriginal know-how that have been exported to other countries include governance, dispute resolution,
land management, community health and economic and business development.
Advantages
Disadvantages
•
Larger market
•
Effort and cost to find international customers
•
Increasing interest in unique Canadian
•
•
Potentially less competition
Need to learn about export regulations and
other countries’ import regulations
If you wish to pursue international trade opportunities, first decide if you are market driven or
product/service driven. In a market driven approach, you find out what the foreign market wants and
strive to fill that need. In a product/service approach, you try to match your established product/service
with a promising foreign country. Refer to the following resources to find out more about the world of
international trade.
Contacts
The Canadian Trade Commissioner Service – www.tradecommissioner.gc.ca
Through this website, Canadian companies have access to sector specific market studies and country
specific reports prepared by the Market Research Centre of the Trade Commissioner Service and by
offices abroad. These reports will help you identify foreign opportunities.
Department of Foreign Affairs, Trade and Development Canada – www.dfait-maeci.gc.ca
On this website, you can find up-to-date information about Canadian Aboriginal Exporters who have
successfully established their product or service.
Western Economic Diversification Canada – www.wd-deo.gc.ca/eng/276.asp
Western Economic Diversification Canada’s online Trade Resources is an entry point for small
businesses to access information on the global e-marketplace. It has information on guides, research,
programs, networking, news and finance.
Contact Business Link for additional resources or view our online importing or exporting startup guide –
www.businesslink.ca/starting-your-business/business-startup-guides/importing-or-exporting.
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c. E-Business
The Internet has completely transformed the way in which the world does business. E -commerce
refers to the buying, selling, or exchanging of products, services, and information via computer
networks, including the Internet. E-commerce should enhance your business processes, not replace
them. Companies are finding that selling products online to customers or business partners,
purchasing supplies on-line, or managing their supply chain through the web can help them meet
evolving customer needs and compete more effectively.
E-business extends beyond the sale of products on the Internet to consumers, or business -toconsumer e-commerce. The value of the Canadian business-to-business (B2B) e-commerce
transactions is actually ten times greater than business-to-consumer (B2C) transactions. Business-tobusiness e-commerce refers to the sale of products and services between companies.
Now the Internet and the World Wide Web enable small and medium -sized companies to compete
more effectively. Here are just a few of the e-business applications available to companies: online
sales, customer relationship management (CRM), e-procurement, e-marketing, supply chain
management, enterprise resource planning, project management, and management.
Advantages
•
Access to new markets
•
Improved customer service
•
Ability to serve evolving customer needs
•
Reduced procurement costs
•
Disadvantages
•
Return on investment can be difficult to
measure
•
Need to recruit technologically savvy staff
•
Integration of current business practices and
e-business initiatives
Speed and accuracy of information exchange
•
Concern over security and privacy issues
•
More level playing field for small businesses
•
•
Canada is one of the most connected nations
in the world
Cost involved in implementing and maintaining
e-business systems
•
Connectivity issue with international commerce
•
Reduced inventory costs
•
Shipping and handling costs
•
Faster time to market with new products
•
Strengthened relationships with
trading partners
Contacts
Canada Business Network www.canadabusiness.ca offers a number of resources relating to e-business
(search for “e-business”).
Contact Business Link for additional resources or view our online business startup guide www.businesslink.ca/starting-your-business/business-startup-guides/online-business.
21
6. I’m Ready to Start – Now What?
a. Preparing Yourself
Preparation is key to the success of your business. Don’t be surprised if it takes a year or more to get
ready. There is a lot of information available to help you prepare yourself to run your business. In
addition to many printed materials, Business Link’s website can help you.

Business Start-up Checklist provides helf elpful tips and can help you address some of the
issues that may arise in your business. Visit Canada Business Network www.canadabusiness.ca
and search for Business Start-up Checklist.

Is Your Business Idea Feasible? can help you to determine if your idea represents a real
business opportunity and helps you to recognize what may be ahead. Use the questionnaire to
evaluate a completely new venture proposal or opportunity for your existing business. Visit
Business Link at www.businesslink.ca and search for Is Your Business Idea Feasible?
Darryl Lajeunesse, CD Media Studio Inc., Red Deer
As an entrepreneur, it’s important to pursue a business prospect that you enjoy and truly believe in. If
you’re doing it just for money, then you may be setting yourself up for disappointment. You should have
specific goals and objectives that are based on sound research but don’t be afraid of innovation. You
should have small objectives that lead to larger goals. One factor, overlooked by entrepreneurs, is the
importance of having positive people around you. Have people around you that are honest and positive.
That way you will remain motivated and grounded. Finally, it is important to understand that things rarely
happen overnight. The saying “Rome wasn’t built in a day” is very true when it comes to worthwhile
pursuits.
22
b. What Business Structure Should I Use?
An early decision you need to make is the form of business you will use. The choices are sole
proprietorship, partnership, and incorporation. Each type of business has pros and cons.
Advantages
Sole Proprietor
Partnership
Incorporation
Only you
You and
someone else
You are
separate from
your business
Disadvantages
•
Easiest to set up
•
You carry all risks
•
Not very expensive
•
•
You own all profits
Responsible for debts –
bank can seize personal
assets
•
Possible tax benefit
•
Easy to set up
•
•
Very flexible
Disagreements with
partner = problems
•
Partners contribute
knowledge, energy
and capital
•
Partners share responsibility
for debts
•
Limited liability to
the shareholder
•
More expensive
and complicated
•
May reduce taxation
•
More paperwork and
regulations to be met
(audited statements)
You can call or visit Business Link for more information on choosing a business structure.
c. Help with Business Planning
As previously mentioned, we strongly recommend that you build a business plan. A business plan is
used by successful and/or prospective businesses to document business objectives and to propose
how these objectives will be attained within a specific period of time. This written document describes
who you are, what you plan to achieve, where your business will be located, when you expect to get
under way, and how you will overcome the risks involved and provide the returns anticipated.
A business plan will provide information of your proposed venture to lenders, investors, and suppliers
to demonstrate how you plan to use their money, and to establish a basis for credibility of your project.
The sooner you develop your business plan, the better. It is important that you examine all the relevant
factors now. As a result, you will be able to anticipate and respond to any surprises after your business
has opened its doors. This plan will be required if you apply for loans. It is also an essential
management tool. There are a lot of resources available to you that will help you complete your
business plan, including the services and referrals offered by Business Link and its Aboriginal Business
Development Services.
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Aboriginal Business Planning Workbook
This guide provides a step-by-step approach to developing a business plan. Availablefrom Business
Link and online at businesslink.ca/abds.
Online Business Planners
Many organizations provide tools to help entrepreneurs prepare professional business plans, including
the following:

Futurpreneur’s Business Plan Writer - www.futurpreneur.ca/en/bplan

Business Development Bank of Canada (BDC)’s Business Plan Template –
www.bdc.ca/EN/articles-tools/entrepreneur-toolkit/templates-business-guides/Pages/businessplan-template.aspx
d. Financing My Business
You will likely need to borrow money to start and run your business. Your local bank, credit union,
trust companies and other financial institutions can help you start your own business. Aboriginal
agencies have been established and provide a range of business development products and services
including developmental business loans to Aboriginal entrepreneurs throughout Alberta.
Financing Options for Aboriginal Businesses in Alberta
This guide lists various financing options available to Aboriginal businesses in Alberta. Available from
Business Link or online at businesslink.ca/abds.
7. Training Opportunities
Aboriginal entrepreneurs are looking for skill development, particularly in the areas of marketing,
research, financial management, and use of Information Technology tools. Information about training
service providers is provided. As noted earlier, training is one method of acquiring the necessary skills
and abilities you need to give yourself the best chance of succeeding in your business venture.
Many Aboriginal organizations, First Nations and Métis Nations provide training and skill enhancement
services. Alberta Aboriginal Relations has the following useful publication:
Guide to Aboriginal Organizations in Alberta and a fact sheet on Aboriginal People in Alberta.
Visit http://www.aboriginal.alberta.ca/Publications.cfm for these publications or call 780 427-8407.
24
a. Small Business Training

Business Link offers online training to help get your business knowledge up-to-speed. Our
BizStart Webinar program teaches you everything from business planning to marketing strategies
over six webinar series. Please visit www.businesslink.ca or call 1 800 272-9675 for more
information.

Regional training throughout Alberta – Contact your local business development office or call
Business Link at 1 800 272-9675 for the centre that serves your community.
b. Technical Training

Aboriginal Futures Career & Training Centre (AFC&TC) - www.aboriginalfutures.com
The Aboriginal Apprenticeship Project is an awareness program aimed to increase Aboriginal
participation in apprenticeship and to promote apprenticeship training in Aboriginal
communities.

Alberta Learning Information Service can connect you to a variety of training programs,
bursaries, scholarships, loans and grants, and internships. Go to:
www.alis.alberta.ca/ec/fo/paying-post-sec.html for more information or contact the Career
Information Hotline at 780 422-4266 in Edmonton or 1 800 661-3753 throughout Alberta.

Colleges and Universities throughout Alberta offer courses that can prepare you for
entrepreneurship. Contact your nearest community college, university, or technical institution.
Visit the Alberta Learning Information Service website for a complete listing:
www.alis.alberta.ca/ps/ep/esp/alberta.html

Apprenticeship and Industry Training is a division of Alberta Innovation and Advanced
Education that provides services to apprentices, employers, industry and training institutions in
matters related to certification of trades people. Visit www.tradesecrets.alberta.ca/
Ron E. Scott, Prairie Dog Film and Television, St. Albert
In starting a business, it’s a good idea to start with something that you are very interested in. I’m a
firm believer in doing what you like. If you enjoy what you are doing, it can help you though the difficult
times. Also, it’s important to have an idea of the climate of the industry before starting a business. You
can do this by seeking the counsel of other people in the business or talking to people who have
operated a business for several years. Try to remember that there will be similarities in most experiences
and you can learn from this. The most important thing to remember is hard work and perseverance will
pay off. Planning is critical for a healthy business.
25
8. Resources
a. Mentors & Advisors
An experienced businessperson may be willing to help you by providing advice based on their
experience. The following can be a mentor or help you find one:

Your own network: family, friends and acquaintances (someone you already know may have
some useful business experience)

Municipal, provincial or federal government business service providers (resource people
who work with local business agencies and other organizations)

Business Associations (contact your local or regional industry association, Chamber of
Commerce or business group)

Financial institutions (your banker may be able to refer you to someone who can assist)

Private sector management consultants (on a fee-for-service basis, consultants can provide
useful advice to businesses.) Consult your local business listings.
b. Resources For Aboriginal Women
Aboriginal Women’s Professional Association (AWPA) - [email protected]
The AWPA exists to provide Aboriginal women from all over Canada the opportunity to gather and meet
other Aboriginal women and to learn from each other. They provide mentorship and share relevant
teachings with interested Aboriginal women of all ages, regardless of background or experience.
Alberta Aboriginal Women’s Society - [email protected]
This association provides referral services and training programs to assist Aboriginal women, their
families and communities to further their goals.
Alberta Women Entrepreneurs (AWE) - www.awebusiness.com
AWE provides tools and resources to help women across the province build successful businesses. Since
1995, AWE has supported women in business with access to start-up and expansion capital,
entrepreneur training and workshops, business advice, service provider referrals and partnerships, and
mentorship opportunities.
AWE also provides tools and resources specific to Aboriginal women including the NextStep to Success
Business Plan Learning Series and One-to-One Business Advising.
26
c. Resources For Aboriginal Youth
Futurpreneur - www.futurpreneur.ca/
Futurpreneur’s programs offer financing, mentoring and business support for entrepreneurs aged 18 – 39.
Youth Resource Network of Canada - www.youth.gc.ca/
This website provides information and guidance on how to start your own business including financing,
business planning and market research.
d. Research and Other Resources
Alberta, Canada: A Wealth of Opportunity – www.AlbertaCanada.com
This site provides information about Alberta’s economy. You will find complete listings of planned,
underway or completed construction projects in Alberta as well as current statistics, services and products.
CanadaOne – www.canadaone.com
You will find a free small business magazine, a Canadian business directory, resources, a suite of free
tools, and archived articles.
Council for the Advancement of Native Development Officers (CANDO) - www.edo.ca
You will find a number of resources in their bookstore on Aboriginal entrepreneurship, Aboriginal
economic development, the Journal on Aboriginal Economic Development, and Aboriginal Education
Opportunities Manual.
Industry Canada – Aboriginal Business Directory www.ic.gc.ca/app/ccc/sld/cmpny.do?tag=248&profileId=381&lang=eng
The Aboriginal Business Directory includes all firms that have regis tered as an Aboriginal company
under the Procurement Strategy for Aboriginal Business (PSAB).
National Aboriginal Capital Corporation Association - www.nacca.net
This association provides products and services to Aboriginal financial institutions and Aboriginal-focused
organizations to promote growth of Aboriginal businesses.
Native Investment & Trade Association - www.native-invest-trade.com
The Native Investment and Trade Association is dedicated to helping the Aboriginal community pursue
self-reliance through economic development and entrepreneurship.
27
9. Final Thoughts
Preparation is the key to success. After doing some self-reflection, you may need to prepare yourself by
increasing your knowledge and skills in certain areas before starting or expanding your business. If you
anticipate any areas of difficulty, be sure to deal with them now rather than later. Take advantage of people in
your family and/or community that may be able to provide guidance.
Your chances of having a successful business can be improved if you position yourself and your
business to make it. Consider the following advice before starting or expanding your business:
28

Find an area of business that gives you personal satisfaction.

Learn about the industry you are entering. Be realistic about the amount of time, energy,
and money you are willing to put into your business.

Spend a lot of time developing your business plan. Get help with it.

Lots of training is available to make sure you have the skills to manage your money.

Build an effective marketing plan. Ask for help if you are not skilled in this essential
business requirement.

Great bosses are made not born. Training can help.

Watching other good managers is a good approach too. It will make a huge difference to the
success of your business.

Do not get ahead of yourself. Examine all of the factors for and against expansion and build a
long-range plan.
Website: www.businesslink.ca
Business Information Line: 1 800 272-9675