Business Advice, Business Planning, Funding

The 20-Minute Business Plan for your small startup in Yukon

by Grace Santos

31 January 2024

Starting a business in the Yukon, Canada, brings its unique challenges, including the crucial task of creating a business plan. Recognizing this, we have developed a specially tailored “20 Minute Business Plan” template for Yukon entrepreneurs. This streamlined business plan canvas is designed to assist you in swiftly launching your business, securing funding, and more.

The 20-Minute Business Plan for Yukon Entrepreneurs

Download Your Free Template Now: Click here to download the 20 Minute Business Plan

Crafting a business plan may seem daunting, but it’s a necessary step in realizing your business aspirations. Our “20 Minute Business Plan” is designed to be an efficient tool for Yukon entrepreneurs, helping you to lay out your business ideas, create a solid plan, secure funding, and start on the path to achieving your business objectives.

Why Choose the 20-Minute Business Plan?

Quick and Efficient: Complete your business model canvas in just 20 minutes.
Comprehensive Coverage: Covers all vital aspects of a business in 9 concise sections, including offerings, team, customer base, partnerships, and revenue streams.
Focus and Flexibility: Provides clarity on your business drivers and allows for easy adjustments.
Transparency: Helps you clearly understand and communicate your business model.

Download Now and Get Started Download the 20 Minute Business Plan

Additional Resources for Yukon Entrepreneurs

Small Business Funding Course
Startup Funding Checklist
Canada Small Business Financing Program Fact-Sheet
Business Plan Essentials

Embarking on your business journey in the Yukon doesn’t have to be overwhelming. Our “20-Minute Business Plan” is here to guide you through the initial planning stages, setting you on a clear path to success. If you have questions or need assistance at any stage, our team is ready to support you.

Start now by downloading your template and committing just 20 minutes to take a significant step forward for your Yukon-based business.

Download the Free Template Here

Business Advice, Business Planning

Canadian Government Funding Checklist

by Grace Santos

31 January 2024

Download the Yukon Government Funding Checklist

The Yukon Government Funding Checklist is a super easy way to follow an exact checklist of items to help you and your small business secure the needed funding via government of Yukon programs and options. Take a moment to fill out the form below to get the free checklist and start the government funding process for your own small business.

Yukon Government Funding Checklist

As a small business owner in Yukon , or if you are considering getting into business, the one thing that you will likely need, especially in today’s climate, is funding for your business. The Canadian government provides great resources (money), to help individuals start and expand their businesses, in order to boost the economy, to create jobs and to help support the entrepreneurial spirit across the country.

That being said, the process of getting government funding isn’t always simple to understand or follow.

The checklist created here byYukon Startups will help you confirm on 4 key points, to ensure your success with government funding for your own small business:

Your business plan
The funding needs
Starting the funding search
The funding applications

Sounds simple; however over 80% of government funding applications are refused, or denied due to issues found within each of these 4 steps.

The checklist that you can download below, will explain in clear detail, the key points surrounding each of the 4 steps, and will guide you to ensure you avoid the common mistakes as you push your way through the funding obstacles – to get funded!

Fill out the form below to get instant access to the Canadian Government Funding Checklist [FREE]

Small Business Grant

Small Business Success Grant Program

by admin

19 July 2023

“Unlock Your Success Story: Propel Your Small Business Forward with the Small Business Success Grant“

Provided by: SBSG Canada

Current Stage Deadline: September 8th, 2023

Apply via the Funding Database

The early stages of a startup can often be the most challenging.

SBSG understands that getting your new business off the ground can be an exhilarating yet challenging journey. The Small Business Success Grant Program, which offers up to $1,500 in non-refundable funding, is designed to support small businesses like yours and help you turn your great ideas into successful ventures.

Small Business Success Grant Overview

The Small Business Success Grant is a program specifically created for new, for-profit, privately owned businesses located in Yukon.

If your business has generated no more than $10,000 in annual revenues, you’re eligible to apply. What’s even better? You can use this grant as you see fit to further the growth of your business. There are absolutely no strings attached!

Here’s a sneak peek into what this program offers:

$1,500 – a Non-Refundable / Non-Repayable Grant
No credit checks required – or minimum revenue requirements
Grant Writer Not Needed
No Restrictions on how you can use the funds
Matching Contributions are not required to be eligible

Applying to the Small Business Success Grant Program is unlike any other program currently available – as it is available to you with the bare minimum in requirements and eligibility.

WANT TO LEARN MORE?

Finding Government Funding For Your Small Business

CLICK HERE FOR DETAILS

SBSG Program Eligibility Criteria

To qualify for the Small Business Success Grant, you must meet the following criteria:

Your Location:

Your business must be located in Yukon.

Business Age:

Your business should be less than 1 year old – from the registration date.

Revenue:

Your business should have generated no more than $10,000 in revenue since its inception

Registration:

Your business registration process should be completed. This can be done via federal or provincial incorporation or a Canadian resident sole proprietorship.

Documents:

You must provide a complete business plan and PitchDeck presentation to be considered.

Membership:

You must have a valid membership with Yukon Startups, which you register for here – or submit a $20 application if you are a non-member.

Securing a grant can significantly boost your business’ potential by providing the much-needed capital to move your startup forward.
Whether it’s for purchasing essential equipment, funding marketing efforts, managing cash flow, or covering payroll, the grant can cater to various needs.

The Small Business Success Grant provides an excellent opportunity for Canadian entrepreneurs. Unlike other grant programs, there are no
strings attached. You can use the funds as you see fit to drive your business growth.

Application Process

To start the application process for the Small Business Success Grant offered by SBSG.ca, complete the initial form found on the website to put in the request. Shortly after, the application steps will be emailed to you.

Along with your completed application form, compile all the necessary documents and information and submit your application before the deadline presented on sbsg.ca

Remember, providing accurate information and a well-prepared business plan is essential to increase your chances of receiving the grant. The application process is straightforward, and no professional grant writer is needed.

Good luck with your application!

Frequently Asked Questions

What is the Small Business Success Grant?

The Small Business Success Grant is a funding program offered by Canada Startups, providing up to $1,500 in non-refundable funds to new, for-profit, privately-owned businesses in Yukon.

Who can apply for the grant?

To be eligible for this grant, your business must be less than a year old, located in Yukon, have an annual revenue of no more than $10,000, and be either federally or provincially incorporated or a Canadian resident sole proprietorship.

How can I use the grant funds?

The grant money can be used for any business-related expense, including purchasing equipment, marketing and advertising, managing cash flow, covering payroll, and more. There are no restrictions on how you can spend the funds

Do I need to have good credit to apply for the grant?

No, a credit check is not required for the application. This grant program aims to support new businesses and does not require a credit check or a minimum revenue requirement.

Do I need to hire a grant writer to apply?

No, you do not need to hire a grant writer. The application process for the Small Business Success Grant is simple and straightforward.

When is the application deadline?

The next deadline to submit applications for the Small Business Success Grant program is September 8th, 2023.

How competitive is this grant?

Grants are generally competitive, as they are a popular form of funding, especially for new businesses. However, the exact level of competition varies based on the number of applications received during each application period.

Do I have to repay the grant?

No, the grant is non-refundable, meaning you do not have to repay the money

How can I apply for the grant?

To apply for the grant, you need to complete and submit the application form, along with the required documents and information, on the Yukon Startups website before the application deadline.

Can I apply for the grant if my business is not incorporated?

Yes, you can apply if you are a Canadian resident sole proprietor. However, the business registration process must be completed.

Application Checklist

It is always a good idea to follow a checklist to determine that you have all that you need to successfully apply for the grant program.

Before you start, it is essential to confirm the following:

Is your business located in Yukon?
Is your business less than 1 year old?
Ensure you have under $10,000 in revenue
Your business must be registered
Have your valid membership to Yukon Startups (or be prepared to pay the $20 application processing fee)

In terms of the documentation required to apply; you must have your 3-year financial statements and proper business plan – ensure this is reviewed by an expert and given the go-ahead. Be sure to have your PitchDeck presentation ready to go, and approved by an expert. If you have a website, ensure it is reviewed by an expert to evaluate and increase your chances of success with the Small Business Success Grant.For added security, you can register as a member of Yukon Startups here: www.Yukonstartups.org/purchase – to ensure you can get expert help with your business plan, financials, pitch deck, and funding search, and application steps.

Funding

Can I start a business with less than $5000?

by admin

17 July 2023

Many aspiring entrepreneurs in Yukon, Canada, may wonder if it’s possible to start a business with less than $5000. While it may seem daunting, with careful planning and resourcefulness, it is indeed achievable.

In this article, we will explore different strategies and ideas that can help you kickstart your business on a limited budget.

Define Your Business Idea

– Identifying a niche or unique business idea that requires minimal initial investment

– Conducting market research to ensure viability and demand

– Brainstorming ideas that align with your skills and passion

Bootstrapping Your Business

– Utilizing personal savings and funds to finance initial expenses

– Implementing cost-cutting measures and make frugal choices

– Relying on available resources, like home office spaces and existing equipment

The Power of Networking

– Leveraging your existing network to acquire free services and support

– Collaborating with like-minded entrepreneurs for shared resources and joint marketing efforts

– Engaging with local business organizations and attending networking events to expand your contacts

Crowdfunding and Community Support

– Exploring crowdfunding platforms to raise funds for your business idea

– Utilizing social media and local networks to spread the word about your project

– Engaging with the community to gain their support and potentially attract local investors

Utilizing Low-Cost Marketing Strategies

– Leveraging digital marketing tools and platforms, such as social media and email marketing, which often offer low or no-cost options

– Maximizing the use of free marketing channels like search engine optimization (SEO) and content marketing

– Collaborating with influencers or industry experts to gain exposure

Creative Financing Options

– Researching grants, sponsorships, and government programs specifically designed to support small businesses

– Exploring microloans or peer-to-peer lending platforms as alternative financing sources

– Seeking out angel investors or venture capitalists who may be interested in supporting promising startups

DIY Website and Online Presence

– Building and maintaining your own website using user-friendly platforms at an affordable price

– Optimizing your website for search engines to attract organic traffic

– Utilizing social media platforms to establish a strong online presence at no direct cost

Prioritizing Essential Expenses

– Focusing on essential expenses that directly contribute to your business’s growth and success

– Identifying areas where you can cut back on unnecessary costs without impacting your core operations

– Allocating funds strategically towards marketing, product development, and customer acquisition

Starting a business with less than $5000 may seem challenging, but it is certainly possible with the right strategies and resourcefulness. By identifying a niche business idea, bootstrapping wherever possible, utilizing networking and community support, exploring low-cost marketing options, considering creative financing, building a DIY website, and prioritizing essential expenses, entrepreneurs in Yukon, Canada can lay a strong foundation for their new ventures. Remember, starting small doesn’t mean your business can’t grow and thrive in the future. With determination and careful financial management, your business can exceed your expectations and become a sustainable success story.

Ready to turn your business idea into a reality? Our Business Plan Builder tool simplifies the process, helping you create a solid plan and increase your chances of securing government funding in Yukon.

Funding

How to Apply for Government Grants in Yukon

by Tyler Bailey

13 October 2022

It can be difficult to apply for government grants if you’ve never done it before.

However, there is no cause for alarm!

Here, you’ll find a step-by-step approach to securing the capital your company need for success.

To begin, you must determine which federal funding initiatives you qualify for.

If you own a business in Yukon, you may qualify for one of the many grants and programs offered by the provincial government.

Spend some time researching the many business grants and programs offered by the provincial government of Yukon to determine which ones are the greatest fit for your company’s needs.

Examples of popular sources of financing are:

Government Grants:

Money from the government is given to private companies, nonprofits, and individuals to assist them meet a specific need.

Research and development, extending into new markets, and product creation are all examples of such aims.

Applicants for government grants are usually evaluated on the basis of their demonstrated merit, or ability to benefit from the grant money.

The various grant categories are as follows:

Non repayable government grants are one of the most common types of grants available.

These grants are given to businesses or individuals without the expectation of repayment, meaning that you don’t have to pay the money back once you receive it.

There are a few different types of non repayable government grants, including:

Grants for small businesses:

Government grants are available to help new and existing small enterprises get off the ground.
These funds can be put toward a number of different endeavours, including the acquisition of new tools or the hire of additional staff.

Grants for research and development: Grants for research and development are offered to businesses that are looking to conduct innovative research and develop new products or services.

This type of grant can be used to cover the costs of conducting research, such as hiring consultants or purchasing lab equipment.

Grants for women entrepreneurs: Women business owners can apply for grants to help them get started or expand their businesses. These grants can be put toward a wide range of activities, including but not limited to the following: establishing a new company, increasing production capacity, or traveling to and participating in professional development seminars for business owners.

Grants for Indigenous entrepreneurs: Natives, Inuit, and Métis business owners who are just getting started or looking to expand their operations can apply for one of many available grants for Indigenous entrepreneurs. These grants can be put toward a wide range of activities, including but not limited to the following: establishing a new company, increasing production capacity, or traveling to and participating in professional development seminars for business owners.

In addition to these, there are startup grants, business expansion grants and skills training grants.

One time and renewable government grants are another type of grant that is available.

One time grants are typically awarded for a specific project or purpose, and are not renewable once they have been used up.

On the other hand, renewable grants are ongoing and can be used for a variety of purposes over an extended period of time.

The most common type of renewable grant is a operating grant, which is given to businesses on an annual basis to help cover the costs of running their business.

Partial contribution grants are another type of grant that is available.

Partial contribution grants are typically given to businesses or individuals who are unable to fully cover the costs of a project on their own.

The Yukon government will partially fund the project, and the business or individual will be responsible for covering the rest of the costs.

Matching grants are another type of grant that is available.

Matching grants are typically given to businesses or individuals who are able to raise a certain amount of money on their own.

The Yukon government will then match the funds that have been raised, and the business or individual will be responsible for covering the rest of the costs.

Government Loans

Loans from the government are essentially loans from the government to private companies or people.

These loans are preferred by businesses because their interest rates are cheaper than those offered by banks.

Several distinct varieties of federal loans exist, including:

Loans for small businesses: these financing options exist to help established enterprises with limited resources grow. New machinery or personnel are only two examples of how these loans might be put to good use.

Startup loans: Lending assistance is available for new firms in the form of startup loans.
Loans of this type might be put for things like business permits and first advertising costs.

Business expansion loans: Loans for business expansion are available for companies who want to grow their operations. These loans can be used to pay for everything from the lease on a larger office to the salaries of new employees.

Skills training loans: Skills training loans are offered to businesses that are looking to provide training for their employees. These loans can be used to cover the costs of training, such as hiring instructors or purchasing educational materials.

In addition to these, there are also loans for specific business sectors, such as agriculture, tourism, and manufacturing.

Remember that government loans can often come in the form of no interest, or low-interest options, as well as government-guaranteed loans.

Government loan programs typically have more flexible eligibility requirements than traditional bank loans, making them a more accessible option for businesses.

The next step

After determining which government funding options are right for, be it a government grant or a government loan it’s time to start preparing your application.

The most important part of your application will be your business plan.

This is your opportunity to sell the government on why your business is worth investing in. Make sure to include detailed information on your business model, target market, and financial projections. If you have any existing customers or clients, be sure to mention them as well!

A good tool to use to develop your business plan is the business plan builder tool. It is created to guide you step by step based on what Yukon government funding agencies want to see.

Once you’ve assembled all of the required documentation, it’s time to submit your application.

The best way to do this is online, through the government’s official website. You’ll need to create an account and fill out all of the necessary information before you can submit your application.

As each funding program/applicaton may have a different application method – be sure to work with an expert to get help with the process.

Applying for government grants can seem like a daunting task, but it doesn’t have to be! By following this simple guide, you’ll be well on your way to getting the funding your business needs to grow and succeed. good luck!