OSEB Program Information Session

2. Welcome! OSEB Program Information Session

3. Out of courtesy to those around you, please turn off all electronic devices

4. Introduction Who are we?

5. The Enterprise Centre • Business services delivered by a team of small business specialists • Provides you with the tools to help your business succeed, including targeted management training, business plan assistance and access to experienced advisors • Offers a proven track record helping aspiring entrepreneurs get their businesses off the ground • Open to program participants only (OSEB & YEP) • YMCA-YWCA | Delivery Agent • 180 Argyle 3rd Floor | 613.788.5001

6. What is SEB? • A core curriculum of instructional seminars covering key business areas • Hands-on workshops & events • Facilitated business & market planning • Individual one-on-one consultations and meetings • Information & assistance on all aspects of business start-up and development • Access to specialists from the business community • Follow-up and aftercare

7. What is SEB? • Creating a business plan • Monthly reporting to track progress and provide feedback • On-site visits • Networking events and roundtable discussions • Ongoing business assessment and review • Potential funding for up to 42 weeks

9. Business Foundation Phase Implementation Phase

11. Application Process • Two Components: • The Business Outline - a written component detailing your business concept • The Interview – an opportunity to discuss and augment what is presented in your outline

12. Application Package Part I • Part I: • Contact Information • Education/Training • Determination of Assets • Business Financial Needs • Questions 1-4 should be self explanatory

13. Application Package Part I Education Level Completed: Include any training that would impact your business: • Sales courses • Public speaking courses • Bookkeeping courses • Massage therapy • Et cetera

14. Application Package Part I Previously Applied: Indicate whether or not youhave previously applied for the Ontario Self-Employment Benefit Program

15. Application Package Part I Important: You must include a recent copy of your résumé in the OSEB application as well

16. Application Package Part I Steps you have already taken to becoming self-employed: • Researched market • Researched zoning • Researched competition • Researched environmental issues • Research on business viability

17. Application Package Part I Disclosure Statement: • It is important to disclose your self-employment activities in this section of the application • Please insure that the information is accurate • By signing you are declaring that it is so

18. Application Package Part I: Statement of Personal Investment: Include only what you are prepared to commit to the proposed business

19. Application Package Part I Statement of Personal Investment Finance: • Cash • Other sources of finance: • Line of credit, Credit card, Family • Equipment or tools: • Table saw, Drill press, Ladders, Scaffolding, Miscellaneous tools, etc.

20. Application Package Part I Statement of Personal Investment Finance: • Vehicle (to be used in the business): • Estimate the amount vehicle to be used by business e.g. 20% • Multiply the monthly payment by that percentage and then by 9.5 (= 42 weeks) • Use this amount as part of your personal investment • If your vehicle is fully paid for use a maximum of 20% of the current value

21. Application Package Statement of Personal Investment Finance: Part I • Space/Real estate: • Estimate the amount that your home will be used by business e.g. 10% • Multiply your monthly rent or mortgage payment by that percentage and then by 9.5 (= 42 weeks) • Use this amount as part of your personal investment • If your home is fully paid for use the rental value your home would have should you decide to rent it out as the monthly figure

22. Application Package Part I Statement of Personal Investment Finance: • Other Related Assets: • Books related to the business • Professional memberships • Courses taken that are related to the business (Training, photography, software, driver instruction, special licensing, etc.)

23. Application Package Part I Statement of Personal Investment Finance: • A total of all the dollar values • previously mentioned will • give you your personal investment

24. Application Package Part II Part II: Entrepreneurial Skills & Self-Assessment

25. Application Package Part III Part III: Business Concept Outline This is the tool that is used to assess the viability of the proposed business and contains 14 areas you must cover in describing your business opportunity

26. Application Package Part III Business Concept Outline 1 • Clearly Defined Business Concept • Describe your product or service • If you have more than one product or service, illustrate that there is a common focus

27. Application Package Part III Business Concept Outline 2 • Projected sales & expenses for first year • Provide your projected sales and expenses for the first year • Support your projections to demonstrate viability

28. Application Package Part III 2

29. Application Package Part III Business Concept Outline 3 • Financial resources • Identify the necessary financial resources to start your business • Identify the necessary financial resources to maintain your business

30. Application Package Part III Business Concept Outline 4 • Evidence of your ability to access financial resources • Provide evidence of your ability to access financial resources • Bank account in your name with funds that are readily available • Bank statements, statement of available line of credit, bank or financial institution letter, assets, overdraft, letter of commitment from investors.

31. Application Package Part III Business Concept Outline 5 • Other resources • Identify the other necessary resources to start your business • Identify possible restrictions, legal considerations, licenses/bylaws that affect your business

32. Application Package Part III Business Concept Outline 6 • Evidence of your ability to access other resources • Identify the other necessary resources to maintain your business • Tools, computer, equipment, human resources, mentors, support, professional support services [e.g.. Lawyer], suppliers and distributors, etc.

33. Application Package Part III Business Concept Outline 7 • Relevant skills • Provide an indication of any past experience, training, education or relevant/transferable skills to support the proposed product or service • Resume, seminars, work shops, degrees, diplomas, certificates, identification of relevant, transferable skills, volunteer work

34. Application Package Part III Business Concept Outline 8 • Target markets • Identify your potential customers • Sample Customer Profile: Women over 60 years, single, living in Ottawa, income over $75,000 • Sample Company Profile: Companies with less than 15 employees, software developers, Ottawa area, revenue over $ 500,000

35. Application Package Part III Business Concept Outline 9 • Marketing strategy • Identify how you plan to meet the needs of and reach your target audiences • Product, Price, Place, Promotion • Identify promotional methods and tools that you intend to use • Sample methods: advertising methods (internet, flyers, newspapers, brochures, word of mouth), networking (who, when, where, why), promotion (discounts, coupons, events)

36. Application Package Part III Business Concept Outline 10 • Sales • Identify what strategies and techniques you will use to motivate your customer to buy your product or service • Indicate why these techniques will be effective • Identify features, advantages and benefits of your product or service

37. Application Package Part III Business Concept Outline 11 • Supply and distribution • Identify how your products or services will reach your target audiences • Identify potential suppliers • Indicate your distribution methods • Identify ideal locations • Explain and support your choices

38. Application Package Part III Business Concept Outline 12 • Competition • Identify your main competition, both direct and indirect, for your target customer • Detail how your product or service differs from that of your competition • Explain how your pricing will be compared to other businesses in your market • Identify what sets your business concept apart from similar businesses

39. Application Package Part III Business Concept Outline 13 • Sustainability • In the Entrepreneurial Skills and Self-Assessment (Part 2) you identified what level of income you need to accommodate your cost of living and lifestyle • Demonstrate how your business will be able to sustain that level of income • Identify how you will continue to do so after 42 weeks in the program

40. Application Package Part III Business Concept Outline 14 • Product/Service Development • Describe your current stage of development for your product/service • Provide samples, prototypes, pictures, a portfolio, a demonstration, documentation, and any other material to support your current stage of development • Indicate when you will be ready to bring your product or service into the marketplace

41. Important! It is important to note that the level of detail required for each of the areas will depend upon the type of business you plan to start. Be thorough as sections will be weighted accordingly.

42. Remember! This is a business outline, not a business plan! Bring your concept to life!

43. How to Apply? • The completed application package must be submitted in person: • Monday October 17th • YMCA-YWCA • 180 Argyle, 3rd floor • 1pm to 3pm only • Application review & interviews will be held from October 18th to October 26thonly • All candidates that apply will be interviewed • Incomplete applications will not be granted an interview, no extensions will be given

44. Timeline List of suggested candidates will be submitted to the MTCU on October 28th. Successful applicants will be contacted the week of November 21st. Successful applicants will be asked to come sign their agreements by November 25th. All other applicants will be informed of their outcome the same week via mail. Program officially begins on November 28th.

45. Timeline If desired, candidates not selected can arrange for a feedback meeting. Please be reminded you should return to an employment specialist to explore other options that might be available to you THE FEEDBACK MEETING WILL NOT CHANGE THE OUTCOMEOF YOUR APPLICATION

46. Next Steps… • If you are EI eligible please complete the Ministry of Training, Colleges and Universities package (brown envelope) as per the instructions in the envelope. • Prepare YMCA application package. • Selection of candidates.

47. MTCU Contact: • Kathleen Fairnie • Ministry of Training, Colleges and Universities • (613) 731-7100 ext 6212 • Kathleen.fairnie@ontario.ca

48. Agenda: • What is the O.S.E.B. program? • How do I qualify? • What are my obligations? • What kind of businesses do not qualify? • What kind of financial assistance? • How do I fill out the application?

49. Ontario Self-Employment Benefits • The OSEB Program provides entrepreneurial skills development support to approved participants to help them develop and implement their business plan and become self employed. • It allows participants to concentrate on building a sustainable business by providing them with financial assistance while they receive business advice and support.

50. Ontario Self-Employment Benefits • Eligibility criteria • Unemployed • On EI benefits • Reachback – have received benefits in past 3 years • Have had a parental or maternity claim established in the last 5 Years.