Our Programs

New entrepreneur

Why consider entrepreneurship?

To be a successful entrepreneur requires business planning, innovation and risk-taking. In short, it is a lot of work! But there are many benefits too. Let's look at some advantages of being your own boss.

You Can Put Your Own Ideas to Work

Being your own boss can allow you the freedom and independence to use your own ideas. Working for someone else can suppress your creativity and drive. As an entrepreneur, your time and energy can be spent creatively by putting these ideas to work for you and the future success of your business.

You Can Decide on What Type of Business You Want

Your business should complement your experience, interest and knowledge. Before you put too much work into your business, make sure that the area you choose is the right one for you. You may first want to consider what hobbies and interests you have, as well as your experience and background.

You Make the Decisions for Your Business

Starting your own business can be risky; however, desire and persistence along with innovative thinking are in your favour. Believing in yourself and basing your decisions on prior knowledge and experience can lead to the success of your business. However, knowing the limits of your own abilities and not being afraid to ask for help from experts or knowledgeable staff are necessary for making business decisions.

You also get to establish the policies for the business and set the tone for its culture. You can build a business that meshes well with your own personal values. This can be a significant benefit compared to working for someone else where you may have to follow policies that you do not agree with or where you may feel like your personal ethics are compromised.

You Can Choose the Location for Your Business

If you are tired of a long commute or if your family is considering relocating, this may be a good time for you to start your own business. You can choose a location for your business that suits your needs, whether that means working from home, working close to home, or taking the opportunity to travel a lot and see different locations. You can choose between having a trendy downtown location or a place outside a city to avoid traffic. While you have a lot of flexibility in choosing a location, you have to consider your potential clients' needs too, as you can lose customers by choosing the wrong location.

You Have the Potential to Earn More

As an entrepreneur, you have the luxury of working your own hours and stretching your earning potential. Usually, this success comes with hard work and long hours. If your business is successful, you will probably make more money than you would when working as an employee. However, the downside is that there is no guaranteed pay cheque and your hard work can cut into time for personal and family obligations.

You Can Be Involved in the Total Operation of Your Business

Running your own business can provide you with a tremendous source of satisfaction and pride. You will be able to see your business grow from the ground up.
However, you will also be responsible for the initial capital that will be required for your business and the costs involved with the day-to-day operation of the business. You may also have to do some administrative tasks that you may not be trained to do, such as purchasing and accounting. It never hurts to get professional help with the running of your business as, sometimes, the administrative tasks take more time than the actual day-to-day operation of your business. They also take you away from the tasks where you can provide the most value.

You Can Turn the Business Into a Family Asset

A lot of people go into business in order to have a place for their children to work at part-time jobs and to finance their education. This can take a burden off the parents in terms of financing their children's education and also give the children valuable life skills.

Depending on your children's career aspirations, you may also be able to pass the business down to them when you are ready to retire. Family businesses can also provide employment for other members of an extended family that are unemployed or underemployed.

Still not sure?

Take the Entrepreneurial Self-Assessment to see if entrepreneurship is right for you.

Get guidance and a grant for your small business.

If you’re starting, expanding or buying a small business, apply for training, mentoring and a grant through Starter Company Plus.

Starter Company Plus Program

What will you get?

  • one-on-one guidance from a Small Business Enterprise Centre advisor
  • participate in business workshops, seminars or networking events
  • topics range from writing a business plan to budgeting to marketing campaigns
  • talk to a mentor with experience in starting, expanding or buying a small business
  • you can also apply for a grant of up to $5,000.

These supports are available if you want to start a new company, expand an existing company or buy a business in Ontario.

Eligibility

  • 18 years of age or older at the time of application;
  • Proposing a new company, expansion of an existing company or buying a business in Ontario;
  • Not attending school full time nor returning to school;
  • Resident of Ontario and Canadian citizen or permanent resident;
  • Not enrolled in other provincial employment or self-employment related programs that include or not financial assistance;
  • Not currently enrolled in any other self-employment or entrepreneurship training/financing programs offered by government-funded organizations.

This program is in collaboration with the Ministry of Economic Development, Job Creation and Trade.

Existing Entrepreneur

As your business develops and needs change, you should update your business plan accordingly.

Questions you might have?

  • Your growing business may need to consider hiring employees for the first time.
  • How do you find qualified staff and conduct a proper interview?
  • If you have employees, how do you keep them safe?
  • What is the Employment Standards Act?
  • You may also have to consider payroll and tax deductions for the first time.
  • Should you expand the size of your business to form a partnership or corporation?
  • Is it time to increase your floor space or maybe move to a larger building?
  • You might feel it is time to open another location across town or across the country. Have you considered investment and trade?
  • Are there government grants or employer programs available?

There are many more questions the Prescott and Russell Entrepreneurship Centre could help you with as your business grows. Please feel free to contact us for a free consultation.

Business Advisory Services

Our Business Advisory Services are focused on helping entrepreneurs who want to grow their businesses here and abroad.

We offer

  • access to government programs and events
  • market intelligence
  • market development support, including export assistance
  • financial analysis and other benchmarking tools to improve operations
  • access to financial assistance
  • support for innovation and new technology
  • networking and expert advice, including the Wisdom Exchange and the
  • leading growth firms reports

Summer Company for Student

Through a program called Summer Company, you can get:

  • start-up money to kick-off a new summer business
  • advice and mentorship from local business leaders to help get the business up and running

Learning how to run your own student business is one of the best summer jobs you can have. You get to be your own boss while learning what it takes to manage a business. Sales, marketing, bookkeeping, customer relationship management and networking are just a few of the highly useful skills you’ll develop.

Who is eligible?

You could be eligible, if you:

  • go to high school, college or university
  • live in Ontario
  • are a Canadian citizen or permanent resident
  • are between 15-29 years old (if under 18: a parent or guardian must sign the agreement for the applicant)
  • are not already running a business
  • are not working at another job or going to school for more than 12 hours a week during the program
  • are returning to school after the program ends
  • you cannot apply again, if you have received a Summer Company grant in the past

Visit the Ministry of Economic Development and Growth website for more information.

Support for Immigrants and Newcomers

The Prescott and Russell Entrepreneurship Centre offers support to French immigrants and newcomers. Integrating into a new community is not easy, and we want to provide you with the information and tools you need to settle into the business world and start your small business.

The objective of this activity is:

  • Awareness and an environment in which newcomers will feel welcomed;
  • Links between newcomers and the Francophone community;
  • A response adapted to the needs of French-speaking newcomers;
  • The integration (geographically and linguistically) of immigrants into Francophone communities and their desire to stay there.

Free services are available

  • Entrepreneurship training workshops
  • Mentoring
  • Coaching

Participants will be trained and matched with a mentor or coaching service for the creation of their business.