by Stella Shepard, June 30, 2016
Have you considered turning your skills, abilities, and passion into self employment?
Over the years, The Employment Journey has profiled many individuals who followed their passion and became business owners and operators.
Awareness of resources in the community is so important. Here is a great look at what PEI has to offer.
Atlantic Canada Opportunities Agency
Atlantic Canada Opportunities Agency offers a variety of programs, services and resources to help entrepreneurs in Atlantic Canada start, expand or modernize their business. ACOA also offers programs that support strategic initiatives in response to the economic development and infrastructure needs of communities.
For more information, call 1-800-871-2596 or visit www.acoa-apeca.gc.ca.
Businesses for sale on PEI
What makes a good business deal?
Wayne Carew, President of Confederation M & A, offers the following advice and suggestions for purchasing a business:
CONFIDENTIALITY: “Most good business opportunities are not advertised. Expect to sign a non-disclosure agreement.”
THE OFFER: “Make sure it is clear and concise, with a list of what assets of the business are included and excluded.”
DEAL BREAKERS: “Write it down,” says Wayne. “What is spoken is often forgotten and what is written is remembered.”
For more information about achieving successful business deals, contact Wayne Carew at 902-368-2643 or visit www.confederationgroup.ca.
Banking Services for Small Businesses
A number of banks across the Island have a small business department. The first step is to contact the lending agency and request an in-person appointment.
Canada/PEI Business Service Centre
No matter what your business question is, we’ll help you find the answer, free of charge. Whether you’re starting or growing your business, our bilingual staff will help you navigate the worlds of government programs and services, regulations and permits, taxation, importing and exporting, financing options and much more.
We can even help you find some of the information needed to include in your business plan. Drawing from specialized databases, we can put together tailored market research packages to meet your needs.
If you’re part of an organization that supports potential and existing entrepreneurs and business owners, we may be able to help you achieve your goals.
In addition, we provide the following services:
Canadian Federation for Independent Business (CFIB)
Canadian Federation for Independent Business (CFIB) is a not-for-profit organization that advocates for small and medium-sized businesses that are independently owned. There are more than 1,000 members on PEI.
A CFIB business resource counsellor can help guide members through regulatory issues from occupational health and safety policies to finding out about government programs that could help them grow.
A district manager meets with each member small business owner at least once a year to communicate changes in government policies.
They also discuss members’ concerns about such issues as government budget measures, skills and training, occupational health and safety policies, and apprenticeship. Those concerns are then communicated to government.
Chambers of Commerce
Chambers of Commerce across the province are non-profit local business networks dedicated to promoting and protecting the interests of the Island business community they serve.
- Greater Charlottetown Area | www.charlottetownchamber.com
- Greater Summerside | www.summersidechamber.com
- South Shore | www.southshorechamberpei.ca
- Kensington & Area | www.kensingtonchamber.ca
- Eastern Prince Edward Island | www.epeicc.ca/site
- Acadian and Francophone Chamber of Commerce | www.rdeeipe.net/ccaflipe
- West Prince Chamber of Commerce | www.westprincechamber.com
West Prince Chamber working to nuture ideas and grow businesses
Community Business Development Corporation (CBDC)
Community Business Development Corporation (CBDC) assists in the creation of small businesses and in the expansion and modernization of existing businesses by providing financial and technical services to entrepreneurs.
- Financial assistance is available in the form of loans, loan guarantees and equity financing to existing and aspiring entrepreneurs.
- Business counselling & advice is available to small businesses. We help businesses to succeed and therefore we give high priority to the advisory role of our mandate.
- Entrepreneurship development and training to individuals and small business owners/managers is available in many of our offices.
- Technical assistance usually takes the form of guidance and coaching, and sometimes advocating on behalf of our clients to other lending establishments or regulatory agencies.
Typically, our services are targeted to entrepreneurs who require customized financing not normally available from traditional sources.
For more information, visit www.cbdc.ca or call 1-888-303-2232.
eForcePEI is a workforce development initiative that helps businesses provide essential skills training to their employees at no cost. It provides FREE on-line training and professional development courses that will help grow your business.
Express Entry: out-of-country hiring option for Canadian employers
Through the Express Entry system, employers can consider hiring qualified foreign individuals with skills and experience if they can’t find a Canadian or permanent resident to do the job. Complete applications are processed in six months or less in the majority of cases.
Benefits of using the system:
- User-friendly electronic system from start to finish
- No occupation lists or caps for programs
- Faster processing of permanent residence applications – within six months or less in most cases
- Job offers and provincial nominations are an asset, but not a requirement
- Candidates may be eligible for more than one program
- Creating an Express Entry profile if free and the profile can remain active for up to one year
- Candidates have an opportunity to be invited to apply in every round
For more details about the federal Express Entry system:
Sean Morency, Employer Liaison Officer with Immigration, Refugees and Citizenship Canada, is the Atlantic federal contact. Call 902-401-9121 or email [email protected].
For more details about the PEI PNP Express Entry Stream:
Alexandra MacKenzie, Program Officer with the PEI Office of Immigration, is the provincial contact. Call 902-620-3659 or email [email protected].
For more details about both programs, visit http://employmentjourney.com/express-entry-offers-country-hiring-option-canadian-employers/.
Food Island Partnership
Food Island Partnership is an organization dedicated to the Food Industry on PEI. We partner in projects with companies, industry partners, research, development and technology institutions to further the growth and profitability of the food industry of PEI.
Projects can be in the area of product development, productivity and production technology and marketing for small to medium sized companies. The Food Island Partnership is the primary organization to spearhead Provincial food branding and terroir initiatives, as well as to implement a food tourism strategy.
Follow Food Island Partnership on facebook and twitter.
Futurpreneur Canada provides pre-launch coaching, start-up financing, mentorship, and resources for entrepreneurs between the ages of 18 and 39.
Futurpreneur Canada works collaboratively with a network of partners. On PEI, they partner with Innovation PEI, RDÉE Île-du-Prince-Édouard Inc., Rural Action Centre CBDC East, CBDC Central PEI, and CBDC West Prince Ventures Ltd. to help deliver programs across the Island.
For more information:
Tania Bernard, CBDC Central PEI, 902-888-3793 or [email protected]
Maxine Rennie, CBDC West Prince Ventures, 902-853-3636 or [email protected]
Karen Deagle, Rural Action Centre-CBDC East, 902-838-4030 ext. 226 or [email protected]
Contact Futurpreneur Canada’s Atlantic regional office at 902-407-7709. Visit www.futurpreneur.ca.
Innovation PEI recognizes the value of local businesses and focuses its efforts to assist in their growth through various funding supports.
Business Development Officers are located throughout the province and work closely with new and existing entrepreneurs to help their businesses develop and grow.
A number of services are provided by Business Development Officers including business guidance, entrepreneur education, and professional development.
These services assist individuals and businesses with start up and expansion opportunities.
For more information on the supports and services Innovation PEI offers please visit www.innovationpei.com or call 902-368-6300.
Investment Grant – The new Small Business Investment Grant will give companies a 15 percent rebate on business investments up to $25,000. This will result is a savings of up to $3,750. Click here to apply.
For more information, contact Innovation PEI toll-free at 1-800-563-3734 or e-mail [email protected].ca
Island Advance is an initiative of the Greater Charlottetown Area Chamber of Commerce designed to advance PEI’s economy by celebrating, supporting, and encouraging entrepreneurship. Activities include:
- Showcase local entrepreneurial success stories
- Create enthusiasm among youth for entrepreneurshp
- Provide mentoring and guidance to aspiring entrepreneurs
Improving access to capital
- Connect entrepreneurs and people with capital
- Influence public policy in support of capital formation
- Support investors through investment education
Retaining skilled and entrepreneurial immigrants
- Promote cultural diversity in our business community
- Help identify relevant business opportunities on PEI
For more information, visit www.islandadvance.ca.
Visit its YouTube channel for profiles on local entrepreneurs and clips on business events.
PEI Business Women’s Association
PEI Business Women’s Association is a non-profit organization that empowers and inspires women to succeed in their business endeavors. They provide support, education, and opportunities to connect with other women in business.
For more information, visit www.peibwa.org.
PEI Connectors is an initiative of the Greater Charlottetown Chamber of Commerce that serves immigrant entrepreneurs throughout PEI. The goal of the program is to facilitate connection between clients and the PEI business community to support the retention of immigrant entrepreneurs.
RDÉE PEI is the provincial francophone economic development council.
- Community economic development and cooperative development services
- Entrepreneurial development and support services
- Economic immigration services
RDÉE also manages the Acadian and Francophone Chamber of Commerce of PEI and hosts the Wellington Rural Action Centre.
Head Office, Wellington: 902-854-3439
Satellite office, Charlottetown: 902-370-7333
Rotary International is an organization that brings together business and professionals who provide humanitarian services, encourage high ethical standards in all vocations, and help build goodwill and peace in the world. Rotarian members usually meet weekly for fellowship and to pursue their service to the community.
PEI Rotary organizations:
Rural Action Centres
Rural Action Centres provide the following services:
- Business guidance
- Business loans and counselling for small and medium enterprises
- Community & project development
- Entrepreneur education & management assistance for start ups
- Expansion and diversification
- Government services for community economic development & entrepreneurs
- Tourism product development and marketing
- Montague: 902-838-4030
- Central Bedeque: 902-887-3400
- Alberton: 902-853-3616
- Souris: 902-687-4084
- Wellington: 902-854-3439
For more information, call 1-855-297-9898. Visit www.ruralactioncentres.ca.
SkillsPEI offers programs and services for job seekers, employers, and organizations. SkillsPEI provides assistance to unemployed individuals who are eligible for Employment Insurance (E.I.) and individuals who are not eligible for Employment Insurance (E.I.) to prepare for and find employment.
Self Employ PEI
Self Employ PEI is an employment program developed to help job seekers who want to launch their own business. This program provides financial support and business counseling to new entrepreneurs during their first year of operation. SkillsPEI offers Self Employ PEI information sessions for interested job seekers to find out more about the program.
Visit the SkillsPEI website at www.skillsPEI.com or call SkillsPEI’s General Inquiries Line at 1-877-491-4766 or visit one of the offices below:
Atlantic Technology Centre, 176 Great George St, Charlottetown | 902-368-6290
Provincial Building, 548 Main St, Montague | 902-838-0674
Future Tech West, 454 Main St, O’Leary | 902-859-8898
Access PEI, 120 Heather Moyse Dr, Summerside | 902-438-4151
Delivered by the Department of Workforce and Advanced Learning and funded in whole or part through the Canada-PEI Labour Market Agreement.
Sweet Spot Academy Business & Digital Consultants
Sweet Spot Academy Business & Digital Consultants offers a suite of solutions that simplify how to keep your business moving forward. They specialize in business and digital
skills training, entrepreneurship and small business development, and customer relationship management planning.
They work directly with entrepreneurs and small businesses as a business development growth coach, providing free and paid for business skills training services.
They also work with government, industry organizations and corporate business who serve sector specific entrepreneurs, small business, and commodity groups to develop customized training programs tailored to meet the specific and unique needs of the industry and business sector.
In the coming months, they are launching new business skills services that will be no cost to Island entrepreneurs and businesses.
For more information, visit www.sweetspotacademy.ca.
Workers Compensation Board
Workers Compensation Board promotes safe workplaces and protects employers and workers through a no-fault injury insurance program. The program is funded entirely by employers. If you are starting a business with one or more workers, you must register with the WCB.
For more information, call 902-368-5680 or 1-800-237-5049. Visit www.wcb.pe.ca.
|Click for related articles about self employment / small business.|