When I formed my bookkeeping and accounting firm in 2014, I knew I was facing quite the challenge by building it absolutely from the ground up. Technically, it started even lower than that — the business actually started in my home office, where I worked with independent business owners to raise capital by building business plans and presenting those plans to financial institutions for government-guaranteed loans.
Our firm is the only company in the GTA that offers a full service bookkeeping and corporate accounting for a low monthly fee. Our approach simplifies bookkeeping and accounting procedures for the business owners we work with.
We really want to help small businesses get the loans they need to succeed. We also want to educate business owners on the resources out there that help small businesses gain loans.
The good news is that there are many resources that business owners in Ontario can use to learn more about getting crucial loans for their enterprises. From government resources to local businesses and nonprofits, here are just a few examples that should help any determined entrepreneur get started.
Futurpreneur Canada is a national non-profit organization that works to grow the country’s economy “one entrepreneur at a time.” According to their website, the organization has been working with entrepreneurs for two decades. For business owners aged 18 to 39, the non-profit provides ﬁnancing, mentoring and support, and using their mentoring program, young entrepreneurs are matched with a business expert from their pool of volunteers. The organization has a ton of resources, as well as a loan program.
The Canadian Chamber of Commerce has a section on their website dedicated to the cause of helping small businesses. It includes a contact person and several helpful resources. To find loan assistance and other critical aid, turn to your local chamber of commerce office – they should have resources that are more tailored to your area and your needs.
Young adults can get entrepreneurial assistance from the Starter Company program through Small Business Enterprise Centers. There, adults 18 to 29 years old can get up to $5,000 of financial assistance, plus professional mentoring to start and grow a business in Ontario. If interested, you can apply at any time at a Small Business Enterprise Center near you.
Designed specifically for women in business, the Microlending for Women in Ontario Program, featured on the Ministry of the Status of Women’s website, supports low-income women looking to start their own businesses. The initiative provides financial literacy training, small loans (microloans), mentoring and skills development, as well as life skills support.
These are just a few of the excellent resources available to small businesses in Ontario looking for loan assistance, mentoring, and skills. A quick Google search reveals many more, but these are some that are well-established and ready to help you and your business succeed today.
Then switched here take these steps to avoid procrastinating