Step 4: Secure Your Financing

For your new small business to succeed, you need to have enough money to cover business start-up costs and daily operating expenses for at least three months. If you don’t have enough money for a start-up through savings, family, friends, loans, or lines of credit, you may need to consider outside sources of financing. For information about government, private, and venture capital sources of financing, go to: 

• Government of Canada - Business and Industry website at: ​

  • www.canada.ca/en/services/business.html 

  • Innovation Canada website at: http://innovation.canada.ca  

In addition, financing for small business is available through the following: 

• The Canada Small Business Financing Program makes it easier for small businesses to get loans from financial institutions. The Government of Canada shares the risk with lenders to make it possible for more entrepreneurs to receive financing. For more information on eligibility call: 1-866-959-1699 or visit: www.ic.gc.ca/csbfp  

• Futurpreneur Canada provides youth aged 18-39 with start-up financing (loans up to $45,000) and mentorship to help start and or buy a business through their Startup Program. www.futurepreneur.ca  

  • Learn more about Futurpreneur’s Indigenous Entrepreneur Startup Program, Black Entrepreneur Startup Program, and Side Hustle Program 

• WeBC provides business loans up to $150,000 to women in B.C. who own a business or are thinking of starting or buying a business. www.we-bc.ca   

• Community Futures British Columbia (CFBC) is an organization that supports economic development and entrepreneurship in rural communities throughout the province. To find the office nearest you, call: 1-888-303 2232 or visit: Office Finder | Community Futures British Columbia 

• The Investment Capital Program offers programs to help small businesses gain access to investment capital, from those just starting out to businesses seeking equity capital for development and growth.  For more information call: 1-800-665-6597 or visit: Venture Capital Program - Province of British Columbia (gov.bc.ca) 

• Banks and credit unions are places where you can get information about things that can make your business run smoothly. They have special products and services that help your business work well.