Toronto offers a lot of support systems for doing business in the Greater Toronto Area (GTA).
Visit the Enterprise Toronto
website and you will find seminars, workshops, networking events, publications and incentives for your launch of a small business. Enterprise Toronto will also support your business plan process with a complimentary 40-minute consultation with one of their specialists.
Going online to the Business Development Canada
website offers you a template to write and develop a business plan. Once a financial forecast is complete, Business Development Canada offers a free financial consultation.
A consideration will be tabled for funding, where BDC will charge 1% of the loan amount in return of the proceeds before any disbursements are made. Business Development Canada can also offer consultants to assist with other components of your business plan at a rate ranging between $150-$250 per hour.
Following the steps and procedures in Bizpal
will offer the business entrepreneur assistance in business permits and licenses. After a series of questions the site will provide a list of possible licenses and/or permits the proposed business may require in order to operate. Specific permits and licenses can also be searched.
Enterprise Canada is partnered with the City of Toronto Economic Development and Culture, Ministry of Small Business and Entrepreneurship, Human Resources and Skills Development Canada, Industry Canada and Toronto Community News.
Enterprise Canada offers among other things, advisory services, and business name registration, offering seminars, a resource library, economic development and culture services as well as Biz Pal. Weblinks to various sections of a business plan are offered as well as a small business directory.
The City of Toronto
website offers a list of incentives new and established businesses may wish to access. From Imagination, Manufacturing, Innovation and Technology Grants to a variety of Energy Saving Incentives the option of doing business in Toronto increasingly becomes competitive and attractive. A visit to the website for incentives will offer the criteria necessary in order to be eligible for any of the available incentives.
In addition to financial and consultant assistance the City of Toronto offers information on site selection with a key to industry clusters and demographics of Toronto neighborhoods. Census profiles are also available for various areas as well as an overview of the labor force found within the Toronto and GTA.
With this breakdown of occupation and industry profiles, education levels of those residing and working in Toronto, a map of population, social conditions throughout the city, information on office space, retails space and building permits, an entrepreneur has information available at their fingertips in order to make well informed decisions and build a viable business.
There are various business schools, courses, seminars workshops and self-starter programs for the new Toronto entrepreneur to choose from. TD Bank has sponsored the Toronto Enterprise programs and offers many of these workshops and some accredited programs. Various Colleges and Universities in Toronto and the GTA also offer certificate, diploma and degree programs in business entrepreneurship, management and administration.
Toronto, with its vastly diverse industry clusters, economy and social structure offers many levels of entrepreneurship, sustaining product development and infusing strength in marketing growth. With the Canadian Dollar almost at par with the US$, gas prices at a long time low, and interest rates still very manageable, Toronto is prime for business development.
Many other resources for business development may require further investigation into the current clusters. With business on their minds many incubation centers have been set up to accommodate and generate professionalism prior to the means being available.
MARS is one such facility as a holding tank for the research and development of a new biomedical and biotechnological product.
Whatever your idea or innovation be sure to research the information offered by the City of Toronto, Enterprise Canada and Business Development Canada websites.
Most recent developments include the introduction of five star hotels in Canada bringing with it more luxury residents and tourists. This may change the economic demographics.
As always regard for these trends and upcoming events will offer insight and incentive spinning in the mind of an innovative entrepreneur doing business in Toronto.