Step by Step Guide to Starting a Business

Financing your business

Entrepreneurs often report that getting financing is the most challenging aspect of starting a business. There are both government and private sector sources of financing that you can tap into to get your business off the ground.

• Personal Assets
  
  http://www.canadabusiness.ca/eng/guide/1173/
  Most new entrepreneurs will use some of their own assets to get the business off the ground.

Government Financing

The government provides financing to help entrepreneurs like you start a business. Some of this financing is targeted to specific demographic groups or industry sectors and some is more widely available. The financing includes grants and contributions (which usually don't have to be repaid) and loans and loan guarantees (which generally do have to be repaid).

• Government grants and financing
  
  http://www.canadabusiness.ca/eng/82/149/
  Find out about government grants, loans or other financing available for your business.

Private Sector Financing

You can also turn to the private sector for financing for your business. You can look to Canada's major financial institutions, such as banks, credit unions and cooperatives. Depending on the type of business you want to start, you might also be able to secure venture capital or financing from angel investors.

• Private Sector Financing
  
  http://www.canadabusiness.ca/eng/guide/1167/
  Your business may be eligible for a wide variety of different types of private sector financing, including debt and equity.