Sources of capital for your business?

Bruce_C49

For most small businesses it is plain and simple -- boot-strapping. Cash in your RRSPs, max-out your credit cards and get as much free credit from suppliers as you can. Going to a bank is really out of the question for a start-up unless you have a lot of (real-property) net worth. The Canada Revenue Agency is a creditor for (too) many small businesses. They give the business time to pay payroll and HST remittances. Believe me - CRA credit is credit you must use - carefully.

There are grant programs for start-ups usually through an intermediary. Plus Futurpreneur does offer loans for start-up entrepreneurs under 39 years of age (up to $45,000).

However, before even thinking of looking for capital -- spend time preparing a Google Map - otherwise known as a business plan. It is worth the effort if you are serious.