Starter Company Plus Application

Please ensure you have read the information package and understand the program requirements and eligibility before submitting an application.

Program Description:

A comprehensive entrepreneurship development program, designed for adults launching a new business or expanding an existing business. By the end of the program participants will have received information on a variety of business related topics, completed a business plan, earned the potential to pitch for up to $5,000 in grant funding and participate in the professional development initiatives. This program is made possible to participants free of charge and is funded through the Ministry of Economic Development, Job Creation and Trade.

Through this program, you will:

Participate in a series of virtual workshops, delivered by presenters who are experts in their field
Receive one-on-one guidance in the development of your business plan
Earn the potential to pitch for up to $5,000 in grant funding
Be connected and referred to the entrepreneurial eco-system
Receive mentorship from experienced professionals
Have the opportunity to network and participate in business events
Be better positioned to obtain future financing with your completed business plan

Am I eligible for Starter Company Plus?

You are eligible for Starter Company Plus if you are:

18 years of age or older
A resident of Ontario and a Canadian citizen or permanent resident.
Reside in the Nipissing or Parry Sound regions.
Starting, expanding or buying a small business (expansions must occur within five years of the business's original start date)
Operating or plan to operate a full-time, year-round business in the Nipissing or Parry Sound regions.
Prepared to commit an average of 35 hours a week to the development and/or operation of their business upon receiving funding
To qualify for a grant, you must be able to make a contribution to your business in cash or in owned business assets, equivalent to at least 25% of the grant amount
Prepared to complete the required business training and business planning components of the Starter Company Plus program as prescribed by The Business Centre Nipissing Parry Sound Inc.
Fully responsible for the businesses ongoing operations and decision making
Not currently enrolled concurrently in any other self-employment or entrepreneurship training/financing programs offered by government funded organizations.
Not currently enrolled in full-time education or returning to school

What type of business is eligible?

Is a sole proprietorship or a corporation where the applicant will be the majority shareholder
Located within the Nipissing and Parry Sound Districts (individuals must also reside within these districts)
Is an independent business venture
Operates at arm’s length of family business ventures
Operates full-time as defined in the business plan, has a separate business bank account and maintains its own books and records
Follows government rules and regulation for operating a business and is in compliance with all applicable laws
Expanding businesses must be within 5 years of the initial start-up date

Businesses not eligible for Starter Company Plus include:

Individuals who have received a Starter Company grant in the past
Partnerships
Part-time or side-hustle type businesses
Franchises, commissioned sales and distributorships
Business ventures that are continuations of existing commercial endeavors
Not-for-profit or charitable enterprises
Multi-level marketing ventures
Single event such as musical ventures bands, DJs, or dance/party event organizations
Businesses that will strictly pay per click and 1-900 businesses
Businesses that have been operational for more than 5 years
Businesses that derive their revenue from streaming services or affiliate marketing
Business incorporating or selling investment vehicles, property investment (flipping), and/or short term rental investment
Note: A business that operates “inside” another business and is subject to that’s businesses hours and operations will not be eligible. (eg: hair stylist renting a “chair” from a salon, esthetician renting a “room” from a salon, etc.)
Note: TBC may also, at its sole discretion, determine a particular business is inappropriate for the program

Application Process:

Review Starter Company Plus Information Package, to ensure your eligibility for the program
Complete & Submit the Starter Company Plus Program Application
Applicants may be required to meet virtually with program coordinator prior to approval to discuss your business idea and eligibility in further detail.
Applicants will be notified if they are accepted into the program.
Accepted participants must sign a Release and Consent Form and an Enrollment Agreement

Pitch/Funding Process:

If you complete all the workshops and your business plan, prove commitment, viability and sustainability, you may receive the opportunity to pitch for up to $5,000 in grant funding for your business. This is a competitive process and in order to pitch you must meet the above mentioned requirements, contribute a minimum of 25% (cash or in kind) of the grant value towards your business, as well as be recommended by the Program Coordinator

Business Plans are reviewed by the Independent Pitch Committee approximately 1 week prior to the scheduled pitch date. If you are deemed eligible to pitch, you will pitch to an independent committee. If approved for funding by the committee, the grant will be given in two disbursements.

First disbursement (75%):

Sign a contribution agreement, outlining each party’s rights and responsibilities for grant disbursement
Within 3 weeks of approval of the grant, provide the program coordinator with a copy of your Business Name Registration, Proof of Insurance, ID and Social Insurance Number and an EFT

Second disbursement (25%):

Operate your business on a full-time basis
Complete the mandatory professional development initivatives
Submit receipts totalling at least 75% of the value of your grant (before Taxes) as outlined in your contribution agreement and approved cost categories
Complete the program survey and final program report

Starter Company Plus is a competitive process and not all applicants will be accepted into the program or approved for funding

If you have any questions about the program, please contact:

info@tbcnps.ca

705-474-0400. ext. 2302

Program

Intake

Date Received

Date

Youth

Name

Date of Birth (dd/mm/yyyy)

Date

Address

Street Address Line 2

City/Town

Province

Postal Code

Telephone Number

Format: (000) 000-0000.

Alternate Phone Number

Please enter a valid phone number.Format: (000) 000-0000.

Email Address

example@example.com

What is your legal status in Canada?

Other

Is this a start-up business or expansion of an existing business?

If existing, what is your business name and how long have you been operational? If not, please put N/A

If your business is registered, what is the structure of your business?

Virtual program workshops (delivered via Zoom) take place from 10:00am to 11:30am on Tuesdays and Thursdays for the duration of the program. Do you have any reason to believe you won't be able to attend each of these workshops?

Are you participating in any government programs? (i.e. Ontario Works, ODSP, EI)?

Have you owned a business before?

Do you consider your business to be,

By the time the program is completed, will your business be operational full-time and year-round? (35 hours or more per week?)

Where will your business be located?

Describe your business (new or existing).

Who else is doing this kind of business? List at least 3 competitors.

Note, all businesses have competitors, do some research to find out who else is doing this.

Have you conducted research about your market? (Customers, competition, environment, etc.). If so, what are your results? Is there sufficient market and demand for your product or service?

Describe your ideal customer (target market). Consider their age, lifestyle, demographics, etc.

What makes your business idea unique? Why might someone choose you instead of the competition?

Explain how you plan to promote your business.

Estimated Revenue (sales) in first year of operation.

List your Start-up expenses. (Items and Costs)

Will you require a loan or additional funds beyond $5,000 to start your business? If so, how much?

What is the most recent year's gross sales?

List your Expansion expenses. (Items and Costs)

Will you require a loan or additional funding beyond $5,000 to complete the expansion? If yes, how much?

What kind of assets (such as tools, equipment, inventory, cash, etc.) do you already own? List assets and their estimated dollar value. (i.e. Website - $2,000, Power Tool - $250, Inventory - $1500).

Note: This table above may appear empty upon application submission. If you have completed the table and submitted your application, the list of assets and values may not be visible to the applicant but will become visible for the program coordinator upon submission.

If you were to be approved for the grant, what would you like to use the funding for? (Note, some ineligible expenses include Inventory, Vehicles, Wages, Debt Repayment, Insurance, Cell Phone, and Rent.)

How did you hear about this program?

This program requires that you work with The Business Centre to develop your business plan. You must be 100% dedicated to the program and your business. This will include meeting all the requirements as indicated in the information package. The possibility to compete for Provincial grant funding is based on program participation, commitment, completion of your business plan as indicated on the deadline schedule, proven business viability and sustainability, and recommendation from the evaluation committee.

I hereby certify that the above information and attached documents are true and correct to the best of my knowledge. I understand that a false statement may disqualify me for this program and further program opportunities.

Name (please print)

Signature

Date

Starter Company Plus Application

If you are a start-up business (less than 1 year in operation)...

If you are an expanding business...