: Mackenzie Macht

By Sponsored content

Community Futures: Free, local and personal support for business

Feb 26, 2019 | 9:42 AM

Be it getting an idea off the ground, expanding an already successful endeavour, helping to increase profits or securing a developmental loan, Northwest Community Futures does it all — and at little to no cost.

Since 1989, the community-based organization has provided loans, advice and support for entrepreneurs and small businesses in the Battlefords and the surrounding area. They operate with funds from Western Economic Diversification Canada.

The North Battleford office is an independent non-profit with local directors who understand the needs of the communities and entrepreneurs in the region. Their skilled and specialized staff are experts in business advisory sessions, which can include consulting for business start-ups, expansion, purchases, succession planning, legal structures, financial projections, leadership coaching, and more. Alongside this, the company offers workshops, events, and resources for entrepreneurs and small businesses.

“It’s exciting to start a business, but don’t waste time and money designing a logo and printing business cards until you’re ready to launch,” General Manager Lesley Sterling said, noting the first step is research.

Sounding the alarm

Sask. NDP highlights red flags on Sask. Party platform

9h ago

National

Bill Vigars, campaign manager for Terry Fox Marathon of Hope, dies at 78

15h ago

Riders win

Saskatchewan clinch home playoff game, dismantle Lions

15h ago

“You need to understand local market potential, operating expenses, legal structure, corporate name registration, licensing regulations, zoning requirements, tax deductions and more factors that might affect your new venture. Come see us at Community Futures—we can help,” she added.

Northwest Community Futures also delivers the self-employment training program for people on employment insurance or who had an active claim within 3 years or a maternity or parental leave claim within 5 years, and have a viable business idea.

Sterling said self-employment can be a great option for someone who needs flexibility in their schedule but warns it’s not easy.

“People might picture a millionaire sitting on a beach, but to be a successful entrepreneur, you need to be willing to work hard, invest as much time or money as you can in the business, and do the work to sell your product or service,” she said.

Community Futures and their lending partners are able to assist in this area, offering specific opportunities, training programs and grants for women, youth, Indigenous entrepreneurs, those on employment insurance, or with disabilities – as long as they have a viable business idea.

“Viable is the keyword,” Melissa Bright, the business analyst at Community Futures in North Battleford said. “You might have a great idea, but we need to crunch the numbers and see if there’s market potential. At the end of the day, you need to have enough customers to cover your expenses and earn an income.”

She said budding entrepreneurs often forget about the small costs that add up: packaging materials, utilities, property taxes, insurance, and their own take-home pay, among other things.

“If you’re already in operation, we can analyze your expenses and help tweak your budget to maximize profits, too,” she added.

For those with a long-term health condition, Northwest Community Futures is there with an Entrepreneurs with Disabilities program.

Economic development and strategic plan facilitation for towns, municipalities and community groups also fall under their scope of expertise.

For those in need of cash to fuel their viable venture, Northwest Community Futures can lend up to $150,000 per registered business, whether it is a sole proprietorship, a partnership or a corporation.

“We are a developmental lender,” Sterling said, “so we take risks that traditional banks or credit unions sometimes turn down.”

Approvals for these loans are decided by Northwest Community Futures’ board of directors, with nine experienced community and business leaders.

Unlike banks and credit unions, they don’t base loan decisions solely on ratios or credit scores. The board looks at the viability of the business plan, the applicant’s character, what they can register as security, and how the business will benefit the local economy.

Northwest Community Futures offers boardroom and day office rentals in The Executive Building in North Battleford, which can be configured to accommodate any need — a standard office for a client meeting or up to 40 people. The boardrooms feature web- and teleconferencing and audio and video equipment. All rentals have access to a business lounge, WiFi, on-site parking, snack bar and refreshments.

The property also features a 976 sq. ft. commercial space that is available for long-term lease. Located on the lower level of The Executive Building, the corner unit is zoned C4 and would be perfect for an office, boutique or clinic. It is partially divided into three offices and a reception area, but the new tenant would be responsible for developing it as needed.

Northwest Community Futures is part of a network of 269 independent non-profits across Canada who provide economic development resources to rural areas. They can be contacted at (306) 446-3200 at their office at 504 Frontier Way. They are open Monday to Thursday from 9 a.m. to 5 p.m. and Friday until 3 p.m.

You can also follow the company on Facebook @NorthwestCommunityFutures to see upcoming events, workshops and resources for entrepreneurs, or find out more online at www.cfsask.ca/northwest