STARTING A BUSINESS
STARTING A BUSINESS A Literacy Partners of Manitoba publication Written & developed by Jeremy Johnson, Literacy Partners of Manitoba Illustration & design by Burgess Mertens www.burgessdesign.ca with thanks to Katherine Pavlik YOU CAN START YOUR OWN BUSINESS Anyone can start their own business. When you start your own business you are self employed. Someone who is self employed is called an entrepreneur (ON TRA PRE NEUR). Special thanks to our partners Community Futures Manitoba Entrepreneurs with Disabilities Program Susan Bater - Program Coordinator Aboriginal Business Service Network Deborah Smith - Project Coordinator Canadian Youth Business Foundation Joelle Foster - Director of Manitoba, Nunavut and North West Territories 3
A BUSINESS STARTS WITH AN IDEA Do you have a business idea? There are some steps you can take to turn that idea into a business. Many people are here to help you. Start by researching your idea Once you have an idea your next step is to research it. Friends & Family Ask other people what they think of your idea. Would they use your service or buy your product? Online Search online to see if there is a need for your product or service. Think about who your customer might be. Phone You can also talk to someone about your business idea. If you need help you can contact: The Canada/Manitoba Business Service Centre (CMBSC) Phone: 204-984-2272 Toll Free: 1-800-665-2019 (in Canada) Website: www.canadabusiness.mb.ca 4 5
WHAT SKILLS CAN HELP ME START A BUSINESS? There are nine Essential Skills that will help you do well. You may already have some of these skills. The nine Essential Skills include: Reading Text Reading and understanding written materials such as understanding forms for permits and zoning. Working with Others Working with people to complete job tasks like hiring of staff. Thinking Skills Using a thought process for problem solving, decision making, critical thinking, planning and memory such as managing inventory and problem solving. Continuous Learning Learning new skills and ideas everyday by talking to others or going to business workshops and seminars. Writing Writing words on paper and typing words on a computer so you can create flyers or write to customers. Document Use Using and understanding information to fill out forms. Oral Communication Speaking and listening to share information or provide customer service. Computer Use Use of computers and technology so you can e-mail clients or research information online. Numeracy Using and understanding numbers for billing and invoicing. secretary manager bookkeeper 6 7
WHERE CAN I START A BUSINESS? THINK OF A NAME FOR YOUR BUSINESS You can start a business anywhere in Manitoba. Some people start a business in a city and other people start a business in rural or northern Manitoba. There are people who can help you no matter where you are located. Make a list of business names you like. Try to think of an original name that will help future customers learn about your service or product. Choose a location For your business to be successful you need to find the right location. You can work from your home, in an office or at a retail location. Register your name Register your business name so that you can legally use it and open your business bank account. How do I register a business name? You can register a business name by calling: The Companies Office Phone: (204) 945-2500 Toll-free: 1-888-246-8353 (in Manitoba) 8 9
WHAT IF I NEED MONEY TO START A BUSINESS? People need money to start their business. You may be able to get a grant or loan to help you out. Your Money You will have to use your own money to start your business. If you do not have money right now you can start saving. Grants A grant is money given to you by an organization that you will not have to pay back. Loans A loan is money you will have to pay back. You have to pay interest. Interest is a percentage of money you have to pay in addition to the original loan. Friends & Family Sometimes friends and family may give you money to help you start your business. This money can be a gift or an investment. 10 11
WRITE A BUSINESS PLAN A business plan is a well thought out guide that you type out to help you and others understand the goals of your business. You use it as a tool to know how much time and money it may take to reach your business goals. It can take many hours and drafts to get it right. Where can I find help writing a business plan? CMBSC will help you write your business plan. You should use a template and type out the plan on a computer. Computers are free to use at your local library. WHERE CAN I GET HELP? There are many people who can help you to start your business. The Canada/Manitoba Business Service Centre (CMBSC) can help you get started today with everything from business plans to free business seminars and workshops. Phone: 204-984-2272 Toll Free: 1-800-665-2019 (in Canada) Website: www.canadabusiness.mb.ca 12 13
More help Canadian Youth Business Foundation Phone: 204-480-8481 Online: www.cybf.ca You can start your own business! Community Futures Manitoba Aboriginal Business Service Network Phone: 204-944-8438 Entrepreneurs with Disabilities Program Phone: 204-943-9205 - ext.4 Online: www.cfmanitoba.ca The Companies Office Phone: 204-945-2500 Toll-free: 1-888-246-8353 (in Manitoba) 14 15
2 4 BUSINESS CROSSWORD 1 3 5 6 ACROSS 2. money you pay back. 3. a page layout you can follow when making a document. 4. a percentage of money you have to pay in addition to the original loan. 5. someone who gives you money in hopes of profit. 6. an unfinished document or written work. 7. money you do not pay back. 8. a list of the amount of supplies a business has. Down 1. someone who owns their own business. 5. a bill issued by a seller to a buyer. 7 8 Word Bank Template Interest Draft Grant Inventory Entrepreneur Invoice Loan Investor RETAIL STORE HAIR SALON RESTAURANT LAUNDROMAT 16 17
Answer Key ACROSS 2. Loan 3. Template 4. Interest 5. Investor 6. Draft 7. Grant 8. Inventory DOWN Literacy Partners of Manitoba is proud to offer Go to LEARN Your Go -To Guide for Adult Learning in Manitoba A free service to help you find literacy programs, learning centres or Essential Skills training anywhere in Manitoba. Online: gotolearn.mb.literacy.ca E-mail: literacy@mb.literacy.ca Phone: (204) 947-5757 Toll Free: 1-866-947-5757 1. Entrepreneur 5. Invoice Other Literacy Partners of Manitoba publications Write On! Magazine Going Back to School Going to the Library Going to the Doctor Being Safe at Work 18 19
To order copies of this publication contact Literacy Partners of Manitoba Website: manitobaliteracy.com E-mail: literacy@mb.literacy.ca Phone: (204) 947-5757 Toll Free: 1-866-947-5757 This project is funded in part by the Government of Canada - Office of Literacy and Essential Skills. The opinions and interpretations in this publication are those of the authors and do not necessarily reflect those of the Government of Canada.