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Home My WebLink AboutThe Citizen, 1997-09-24, Page 9fl ft a nori vith ni THE CITIZEN, WEDNESDAY, SEPTEMBER 24,1997. PAGE 9. Huron Business Centre helps people get down to business i 3 8 ready to help budding ition. (Huron Expositor photo) By Bonnie Gropp Citizen staff It's a challenge getting started and succeeding in business these days. And for the past four years the staff at the Huron Business Centre have assisted budding entrepreneurs and those interested in starting small business in a variety of ways. Paul Nichol, the HBC's community development co ordinator says the importance oi small business to Huron can best be explained by the numbers. "Presently 88 per cent of all county businesses are very, very small with less than four employees. If tracked over time 42 per cent will grow, starting with one person, then going to three, then eight and so on." "Small business is already dominating the economy," said Nichol, adding, "Eighteen per cent of the people in Huron are self- employed, which includes farmers. The provincial average is six per cent." While he hastens to add that this is not to say big business is not important, it is the smaller ones with the best opportunity for growth. It was for them, that the HBC formed in 1993. The Huron County planning department held a series of public meetings, through which it was determined that assistance and information about employment opportunities were needed. Located on Seaforth's main street the HBC mandate is based on a six- point strategy, Nichol says. "First we start with people, encouraging them to think about getting into a businesses and helping them make informed decisions. Steps two and three are about giving them ideas and dealing with businesses management skills, so they can cope with the challenges that will face them. HBC provides an information library on everything from financing and marketing a business to self-help. The centre also does counselling and mentoring. Government programs can be accessed that will provide quick, useful information and answers on specific areas an individual may be inquring about. Point four is perhaps one of the centre’s most appreciated aspects — financing. The Community Futures Investment Fund offers loans up to $75,000. Funded through Ministry Canada, Nichol said that over time the centre hopes to access $1.55 million in the pool. "We try to be really flexible," Nichol explains. "We are like a lender of last resort in that we'll take business the banks have turned down." Conversely the HBC will also take second lender position, with the bank loaning a portion and HBC lending the rest. "We re essentially a high risk lender." Given all this the applicant's venture must be demonstrated by a business plan and be within the boundaries of Huron. Funds must be used for either the purchase and upgrade of equipment, the acquisition of commercial property, renovations and leasehold improvements, inventory and/or working capital. They can not be used for debt consolidation, refinancing for lower interest, real estate speculation, to reduce risk, or for personal consumption. A second loan offered, through the Rural Enterprise Loan Fund, is for very small business. "These are between $1,000 to $3,000. If you want to get into a tailoring business, you don't want to have to go through the process to get enough money to buy a sewing machine." Establishing a business plan takes a lol of work, but is essential. "It's about asking yourself the right questions and if we can do nothing more than help a client to do that, then we've done enough." Nichol says that there have been occasions when people who have been turned down for financing at a bank will get help at the centre to revise their business plan, then will have their application accepted the next time they try. Number five is promotion and marketing. One thing the centre counsellors stress to clients is the importance of market research. "We don't do the research, but rather show them how. Actually our purpose is a bit like the old 'teach a man to fish thing'. We don't do anything for them but give them the information they need to do the research themselves. We give them the tools." Promotion is in many respects, Nichol says, the most critical part of getting your business off the ground. "It's about looking at new ways to get people to see your product." HBC he added, has done some special projects encouraging promotion of Huron's small business, most notably the Christmas in the County catalogue, published a few years ago. This provided small businesses with an opportunity to get the word out about their product to 26,000 households. The final point of strategy for HBC is becoming more and more important, Nichol says. "We are actively encouraging partnerships, alliances and co-operations among businesspeople." He cited the Crafter's Market in Brussels as an example. This is a group of local craflpeople, who combine to rent downtown space and take turns staffing the facility , in return for having an outlet in which to show and sell their work. "Yes, they are all selling the same type of product to some degree, but they wouldn't do as well if they weren't working together. You see it happening more and more." Nichol says the reason behind this trend may have to do with scale. "There is a tendency for bigger and bigger to get stronger. By smaller businesses working together it allows them to get closer to that." The value of the HBC has been established. Overseen by a board of directors, the success of the facility can be best recognized by the fact that 75-100 people come through its door each month and to the hundreds who have been helped get started or to keep going. Business and Loans Manager Jim Niesen is best consulted with by appointment, though people can take a chance on catching him free if dropping by. That, however, is getting harder and harder to do. "He’s really busy,” says Nichol. We talk about the economy picking up and I think we see it in the terms of activity at the centre." Nichol says that there are three types of individuals who visit the HBC. "The first are hungry for help and information. The second who don't really know if they want to take your advice and the third, that have no intention. It's human nature, but obviously we are only beneficial in the first case. We realize there are only certain people who will lake advantage of a service like this. 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