Maya and Jordan know bikes, but neither has written a cash-flow projection before. The good news is that nobody has to write a first venture plan alone. Across Ontario and Canada there are organizations whose whole purpose is to help people start businesses, and much of their help is free. Knowing where to look saves hours of guesswork and helps a young entrepreneur avoid mistakes that others have already made.
Free advice close to home: Small Business Enterprise Centres
Ontario has a network of Small Business Enterprise Centres (SBECs) in communities across the province, supported by the provincial government and local municipalities. Their advisers offer free, confidential one-on-one advice to people starting or growing a small business, along with workshops on topics such as business planning, registering a business name, licences and marketing. They also refer entrepreneurs to other programs. Many SBECs deliver Ontario's Summer Company program, which has offered students coaching and a grant to run their own summer business. For a student like Maya or Jordan, the local SBEC is usually the best first stop: an adviser can read a draft plan and point out what a lender would question.
National and community organizations that support entrepreneurs
| Source | What kind of organization it is | How it can help with a venture plan |
|---|---|---|
| Futurpreneur Canada | A national not-for-profit that supports young entrepreneurs (its main programs are for people about 18 to 39) | Start-up financing paired with a volunteer mentor, plus free planning tools such as a business plan writer and cash-flow template |
| BDC (Business Development Bank of Canada) | A federal Crown corporation whose focus is Canadian entrepreneurs | Loans and advisory services, plus free articles, guides and a business plan template |
| Women's enterprise organizations and business networks | Regional organizations and networks for women entrepreneurs | Mentoring, workshops, peer networks and, in some regions, loans |
| Canadian Council for Indigenous Business (CCIB), formerly the Canadian Council for Aboriginal Business | A national non-profit that works to strengthen Indigenous businesses and their ties to the wider economy | Research, events, networking and a certification program for Indigenous-owned businesses |
| Aboriginal Financial Institutions | A network of Indigenous-controlled lenders across Canada | Loans and business-planning support for First Nations, Inuit and Métis entrepreneurs |
| Newcomer and ethnocultural organizations | Settlement agencies, immigrant-serving organizations and ethnocultural business associations or chambers of commerce | Workshops (often in several languages), help with Canadian banking, licensing and tax rules, and introductions to mentors |
| Banks, credit unions and governments | Financial institutions and federal, provincial and municipal governments | Free templates, start-up checklists, and guides to registering a business and getting licences |
Templates from banks and governments
A venture-plan template is a ready-made outline with the standard headings and prompts for what to write under each one. BDC, Futurpreneur Canada, the major Canadian banks and credit unions, SBECs and government small-business websites all publish free templates, and many include spreadsheets for start-up costs, a projected income statement and a cash-flow projection. A template saves time and makes sure no standard section is forgotten. Its weakness is that it was written for every business at once, so some headings will not fit yours.
Using a template well: adapt it, don't just fill in the blanks
- Writes "N/A" under "Manufacturing process" because Ride Ready makes nothing
- Copies the template's sample sentences with a new business name
- Leaves out anything the template did not ask for
- Types numbers into the spreadsheet without checking the formulas
- Renames the section "Service process" and lists the tune-up steps and capacity
- Writes every sentence about Ride Ready, using its own research
- Adds a section on safety and liability insurance, which matters for this venture
- Checks each total by hand and makes the numbers match across sections
- Compare two or three templates and choose the one closest to your type of business (service, retail or manufacturing).
- Read every heading and prompt before writing, and mark which ones fit, which need renaming, and what is missing.
- Rename or add sections so the plan describes your venture, not a generic one.
- Write in your own words, using your own research and numbers.
- Check every spreadsheet total by hand and make sure the same numbers appear in every section.
- Ask an adviser, such as someone at your local SBEC, to read the draft.