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Nishnawbe Aski Development Fund

Friday, August 18, 2017
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Community Futures Development Corporation

Business Development

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What is Business Development?

Business development comprises a number of tasks and processes generally aimed at developing and implementing growth opportunities within a community. It is a subset of the fields of business, commerce, and organizational theory.

Why get involved in Business Development?

There are many benefits to a formal business development process rather than jumping right in.

Some benefits to the process include:

  • Business planning allows advance consideration and preparation for potential challenges
  • Provides for process to determine expected costs with increased accuracy
  • Allows for due diligence in advance of business acquisitions
  • Provides careful consideration of potential impacts, negative and positive, of expansion opportunity
  • Consider of marketing initiatives; local, domestic, or export oriented
  • New product or process development
  • Determining financial implication of new technology to improve operations and competitiveness prior to implementation
  • Consideration of operating costs in addition to capital costs and related cash flow implications
  • Financial services, business support, business-related training, and mentoring services
  • Referrals to expert advice

Who should be involved?

Aboriginal entrepreneurs and communities that are proposing to establish a business, acquire a business or to expand existing business.

What kinds of skill development workshops are offered?

  • So you want to start a business – entrepreneurial assessment
  • Shooniah and You – how to manage your finances
  • What is a marketing plan and how to I build one?
  • What do lenders look for?
  • Your credit report. What is it? Why is it important? How do I improve my score?
  • Cash flow is different from income? How and why is it important to know the difference?
  • Why is financial record keeping important? Tips and tricks to stay organized
  • My day slips away from me!  How do I manage my time?

What can NADF do to help?

The Business Development Officer promotes entrepreneurship and guides entrepreneurs to investment readiness for business start-up, maintenance and/or expansion. We are also able to deliver business development workshops by topic that are part of the business planning processes.

These include, but are not limited to:

  • Business Planning
  • Personal business coaching
  • Proposal Writing
  • Generating Ideas
  • Do you have what it takes to be an Entrepreneur
  • Do you need help in your business?
  • How to Market your product or service

Services


Opinion Poll

NADF's programs and services support business and economic development in northern Ontario. What services are you aware of? (Select all that apply)
Loans
Leasing
Appraisal Services
Resource Sector Advisory Services
Community Strategic Planning
Business Support
ABFP and/or LIC
View Results

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