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Entrepreneurship knows no boundaries! |
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The SEED program assists entrepreneurs with disabilities to explore self-employment. After completing an exploration workshop, participants who qualify may apply for additional business planning, advisory supports, and financial assistance to launch their business.
Space is limited.
Call 519-452-4877 to register or to learn more about what SEED can offer. |
| Small Business Highlights |
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Small Business Definition
Industry Canada's definition of "small business" is firms that have fewer than 100 employees.
Number of Businesses in Ontario
As of December 2007, there were 365 649 employer businesses (having a payroll of at least one person) in Ontario. Ontario accounts for 34% of all small businesses in Canada. In Ontario, 97.4% of businesses are considered small (less than 100 employees), 2.3% are considered medium (100-499 employees) and .3% are considered large (500+ employees).
SurvivalFailure rates for small businesses in Canada are high for the first three years and decline over time. About 70% of small businesses that enter the marketplace survive for one full year; half survive for three years. Approximately 25% of small businesses are still operating after nine years. The number of business bankruptcies in Canada fell by 50% between 1997 and 2007 to about 6300 in 2007.
Source: Industry Canada, Small Business Policy Branch, Key Small Business Statistics, July 2008
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Dear Friends,
On October 22, the Small Business Centre held its 10th Annual Bridges to Better Business Conference. The day was a huge success, thanks in part to the entertaining and inspiring kickoff breakfast with keynote speaker, Leonard Lee, founder of Lee Valley Tools. The 300 audience members learned many of the life lessons and philosophies that have helped build Lee Valley Tools into a household name.
Thank you to the many sponsors, supporters, volunteer mentors and facilitators who contributed their time and resources to the event. And a special thank you to the participants whose enthusiasm and eagerness made it a great day of learning, networking and connecting for success.
Mark October 21, 2009 on your calendar, we're already planning the 11th Annual Bridges to Better Business. More than 70 guests enjoyed Networking Wednesday this past week at Williams on Wonderland. Thank you to Phil and staff for the great hospitality, food & door prizes. Check out the photo gallery section of our web site to see the fun. Don't miss our annual Holiday Schmoozefest Networking Wednesday on December 3rd at Aroma Restaurant. Looking ahead, VenturePrize London, a business plan competition for new and early growth businesses will be taking final submissions on December 12. With over $45,000 in cash and prizes to be won, it may be a great opportunity for your venture.
Have a great November,
Your Newsletter Team
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Clients in the News...
 The following clients have recently been featured in the local media. Congratulations!
Where: the Gazette, UWO When: October 16, 2008 Steve Andrusiak, a lecturer at the University of Western Ontario, and now also a journalist, Steve has started his very own website, storyvillage.ca, an online "neighborhood news" outlet. Story Village focuses on the interesting places, events and people in East London. Steve has written stories about countless people in the London area, from Irene Mathyssen, MP for London Fanshawe to Peter Cwynar, founder of "Kalejdoskop", a Polish language newspaper, who ironically is also a past client of the Small Business Centre.
Who: Peter Cwynar of Kalejdoskop
Where: Storyvillage.ca
When: October 14, 2008
Cwynar is the founder is Kalejdoskop, a polish language newspaper. Approximately 9,000 customers purchase the newspaper on a monthly basis in the London area, with readers stretching all the way to Hamilton. Kalejdoskop includes information not only about the Polish community, but other news worthy information as well.
Who: Raegan Harding of Peek-A-Bootique
Where: Strathroy Age Dispatch, Success in Business Section
When: October 22, 2008
Peek-A-Bootique is an exciting new consignment shop in Mount Brydges offering new and gently-used brand name clothing for "growing" tots and moms-to-be at affordable prices. Stop in and see Raegan at Peek-A-Bootique, where children's gear makes 'cents'! 22527 Adelaide Road, Mount Brydges, ON.
Who: Alison Empey of Sizing Matters Where: Strathroy Age Dispatch, Success in Business Section When: October 22, 2008 At Sizing Matters, located at 86 Blackburn Crescent in Kilworth, Alison is devoted to custom tailoring bras, panties and swimsuits for the perfect fit for women in London and surrounding area. Come in and see Alison because you deserve comfort, fit and design.
Who: Sherry Hall, Quilting Creations Where: Strathroy Age Dispatch, Success in Business Section When: October 22, 2008 Quilting Creations offers a place where people can come in and practice the craft of quilting in a comfortable and welcoming atmosphere. Customers can also order one-of-a-kind quality heirloom quilts. Stop in and see Sherry at Quilting Creations, located at 21 Pannell Lane, Strathroy.
If you are a Small Business Centre Client and have been featured in the media recently, we would like to hear from you so we can pass it along. Send details to info@sbcentre.ca and we may include it in our next newsletter. |
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Advanced Business Series Seminar:
Personal Financial Management For Business Owners 
Wednesday, November 26, 2008
Time: 9:15 AM - 12:15 PM
Location: London Small Business Centre
Cost: $15.00+GST
Presented by Brenda Deacon, Senior Account Manager Business Personal, RBC Royal Bank
Pre-registration required as seating is limited.
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 Networking WednesdayWednesday, December 3, 2008
Holiday Schmoozefest
Looking for some Ho, Ho, Ho, Holiday fun?
We've got it here!
Location: Aroma Restaurant
Time: 6:00pm - 9:00pm
Address: 215 Piccadilly St., London Map
Cost: $15.00+GST advance tickets only
(Tickets will not be sold at the door)
Participate in our optional gift exchange: "Bring a gift/get a gift" ($20.00 value)*
Enjoy vocals by Romeo, sample hot & cold hors d'oeuvres, antipasto platters, cheese platters, crudités & dip, finger sandwiches, fruit, desserts, coffee & tea
To purchase tickets please visit us at the Centre, or Register Here! *Gifts must be tangible items valued at $20 or more, wrapped, with your business card attached.
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VenturePrize London is a city-wide competition, open to new and existing businesses, and has two grand prizes with over $45,000 in prizes and cash to be won!
Completed business plan submissions must be sent to the Small Business Centre by 4:00pm on December 12, 2008.
For more information about the submission rules and regulations for VenturePrize London, and for application forms, click here.
Watch this entertaining clip and see why you should apply.
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On Tap with The Entrepreneur's Club... 
Each month, members of The Entrepreneur's Club meet to learn from seasoned professionals, share knowledge and skills, and develop valuable business relationships.
At our October meeting, Nancy Kirwin, Insurance Service Specialist/Agent from Townsend Farmers' Mutual Insurance shared information on what to consider when purchasing business insurance. Your business insurance policy covers four areas:
- Property - includes anything you own, such as office equipment, vehicle, stock for resale, and tools of the trade.
- Crime - includes anything someone could do to you.
- Liability - includes anything that you may do that can be negligent to yourself or someone else.
- Bodily Injury - anything you do that may cause bodily injury to another person.
Nancy told us how important it is to establish a relationship with your insurance broker or agent and to make sure you let him/her know when you purchase new equipment, change locations, participate in a tradeshow, etc. And if you use your vehicle for business purposes, make sure it is protected for business use. Your policy should have inclusions and exclusions based on your own unique business. And remember, if you operate a business from your home and have not informed your agent or broker, you risk being excluded from a claim if something happens.
Are you interested in becoming a member of The Entrepreneur's Club? Attend a Water Cooler meeting to find out what we're all about. All you have to do is pay for breakfast. Attend two meetings without obligation...and then we'd love to have you join us regularly. Check out our Searchable Directory. You can be included, too...simply become a member of The Entrepreneur's Club - it's part of your membership fee.
Join us at our next meeting on Wednesday, November 19, 7:00 a.m.
RSVP eclub@sbcentre.ca | phone 519.649.7712
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Small Businesses and Industries in Canada: Recent Trends
Small businesses in Canada are concentrated in the services and construction sectors. They are typically built around the expertise of a single, or small group of, individuals and/or primarily serve the local community.
Growth in the number of small businesses has slowed in the past five years, partly reflecting softer economic conditions.
At the industry level, there is a loose correlation between output performance
and growth in the number of small businesses. Other factors, largely industry-specific, are also at play.
Consolidation in the manufacturing sector has led to a generalized loss of small businesses. However, there is evidence that average firm size has grown in the majority of industries. A similar "bulking up" of firms is also found in sectors outside manufacturing.
Within the broad small-firm category, there appears to be a shift in composition
towards larger organizations, suggesting that many "micro" businesses are taking steps to scale up their operations in the face of increasing challenges. Only the hardest-hit manufacturing industries, such as textiles and clothing, fail to show a gain in average firm size.
Looking ahead, the slower growth trend in the number of small firms is likely to persist as the "soft patch" in the economy dampens opportunities for new business formation in the near-term and the forces of consolidation and restructuring restrain any pick-up in the pace once economic activity re-accelerates. Similarly, the increase in average firm size is likely to continue.
While definitive judgment will await the availability of more comprehensive data, the evidence to date is encouraging. Signs of small businesses in Canada gaining heft across the spectrum of industries underscore important, positive structural adjustments taking place in our economy, enhancing its longer-run prospects.
Source: Canada Ontario Business Service Centre (COBSC). COBSC provides access to accurate, timely and relevant information on federal and provincial business-related programs, services and regulations. The COBSC is jointly managed by Industry Canada and the Ontario Ministry of Government Services. | |
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