Practical No.

07

Title: Compile the information from the government agencies that

will help you set up your business enterprise

1. Target services available for your small business:

Every city, province or state has a small business office or economic
development department. Staff there can refer you to local business incubators,
networking events and financing programs. Often, these offices offer free business
consulting services; they will also help you to navigate complex government regulations.
Are you investing in research and development or building a new facility? Do you wantto
participate in an International Trade Mission? Tell the small business office about your
expansion plans and they will direct you to the appropriate assistance that you need. Find
your local small business office in Canada or in theU.S.

2. Facilitate customer and market research:

Government agencies like Statistics Canada and the U.S. Census Bureau are
invaluable resources for market researchers. If you’re looking for information about a new
geographic market, household spending patterns, or a particular market segment, start with
the free research available from these organizations.
One Canadian resource I use all the time is Industry Canada’s SME
Benchmarking Tool which offers industry-specific income statement and balance sheet
data for small and medium sized businesses. This data is invaluable for anyone writing
their first business plan or for seasoned business owners who want to know how their
numbers compare

3. Build your public profile:

Get media attention when you invite a local politician to attend your store opening or
business event. Alternatively, participate on a government advisory committee or
contribute when asked for input on policy issues that will have an impact on your
business. These are great ways to have input into government decisions; they can alsolead
to public recognition for you and your smallbusiness.
Finally, when dealing with government officials be realistic. Governments will not
endorse your business to the detriment of others, and governments do not give out grants
to everyone with a business idea. We sincerely understand the enormous economic
contributions made by small business owners every day and we love helping you to
succeed!

4. customer and market research:

Government agencies like Statistics Canada and the U.S. Census Bureau are
invaluable resources for market researchers. If you’re looking for information about anew
geographic market, household spending patterns, or a particular market segment, start
with the free research available from theseorganizations.
One Canadian resource I use all the time is Industry Canada’s SME Benchmarking
Tool which offers industry-specific income statement and balance sheet data for small and
medium sized businesses. This data is invaluable for anyone writing their first business
plan or for seasoned business owners who want to know how their numbers compare.

5. Find a new market for your product or service:

Governments purchase billions of dollars worth of goods and services every year:
everything from construction materials to office supplies, food, and consulting services.
Your small business may be exactly the new supplier your local government needs!
Before making a sales pitch, it’s a good idea to learn about government procurement
practices – where upcoming tenders are posted, proposal requirements and rules
governing conflict of interest. The websites of your federal, provincial, state or municipal
governments will all have purchasing department links that provide this information for
prospective vendors.

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