FIVE Magazine YB - VOL2 - Page 9

Businesses with a focus on exporting or emerging sectors of the economy may want to apply to the Business Development Bank of Canada. The BDC specializes in providing financial and management services to small and medium sized businesses. Young entrepreneurs have further options, such as the Canadian Youth Business Foundation Program, a national charitable not-for-profit organization that provides start-up financing up to $15,000, mentoring and educational resources that empower young Canadians 18-34 to start and grow businesses. When financing has been secured, the last step before implementing your business plan and opening for business is to register your business and obtain any necessary licenses. You’ll need to consult all leve ls of government: federal for such matters as HST registration, payroll source deductions and WSIB compliance; provincial for business name registration and employer health tax considerations; and municipal for zoning concerns, bylaws and business licenses. Seeing your kernel of an idea through to the end can be a long, arduous experience, but the rewards speak for themselves. At your grand opening you’ll have much to celebrate – most of all, the beginning of a journey like no other. n VOLUME 1 - ISSUE 2 | yourBusiness Online 9