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