Finding support to start or grow your business

Every small business owner sometimes feels like they’re totally alone juggling many hats – from accountant to marketer to intern to CEO. But there are more sources of support out there than you may think. Here are a few types of assistance to look into when you’re starting or growing your company:

Emotional support. When it comes to help for businesses, emotional and mental health support is just as important as money for the long-term viability of any company. Friends and family are always there, but a new source of strength and community can come from social media groups made up of fellow owners and entrepreneurs. They are people who know the demands of running a business and can offer useful insights from experience.

Educational support. Growing or starting a business can often require you to pick up new knowledge and upgrade your skill set. While you may be reluctant to spend time and money on yourself, know that keeping your expertise up to date can help you take advantage of new work opportunities. Many apps for small businesses offer free courses or blogs that can help you learn, and your local library likely has free programs and classes for entrepreneurs.

Logistical support. The saying “there’s an app for that” becomes truer every day. Since the pandemic, there has been a greater push to help small businesses succeed, and this means that new products and services are available to make your life as an owner easier. Think new tools for managing your payroll, social media, credit card payments, schedule and more.

Financial support. Your local lender is a great place to start when looking for sources of financial assistance. They can let you know whether you qualify for the recently improved Canada Small Business Financing Program. The program has been updated to include financing for intangible assets such as good will and franchise fees as well as day-to-day operating expenses like inventory, payroll, rent, marketing and more.

Find more information at canada.ca/csbfp

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