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Welcome!. OSEB Program Information Session. Out of courtesy to those around you, please turn off all electronic devices. Introduction. Who are we?. The Enterprise Centre. Business services delivered by a team of small business specialists - PowerPoint PPT Presentation
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OSEBProgram
Information Session
Welcome!
Out of courtesy to those around you, please turn off all electronic devices
Who are we?
Introduction
• Business services delivered by a team of small business specialists
• Provides you with the tools to help your business succeed, including targeted management training, business plan assistance and access to experienced advisors
• Offers a proven track record helping aspiring entrepreneurs get their businesses off the ground
• Open to program participants only (OSEB & YEP)
YMCA-YWCA | Delivery Agent180 Argyle 3rd Floor | 613.788.5001
The Enterprise Centre
• A core curriculum of instructional seminars covering key business areas
• Hands-on workshops & events
• Facilitated business & market planning
• Individual one-on-one consultations and meetings
• Information & assistance on all aspects of business start-up and development
• Access to specialists from the business community
• Follow-up and aftercare
What is SEB?
• Creating a business plan
• Monthly reporting to track progress and provide feedback
• On-site visits
• Networking events and roundtable discussions
• Ongoing business assessment and review
• Potential funding for up to 42 weeks
What is SEB?
The Application Process
Service ProviderEligibility & Suitability
Y Contacts Referred Clients to Attend Information Session
Information Session
Application – Business Outline
Personal Interview
Accepted / Supported Not Accepted / Not Supported
Feedback Interview OfferedOrientation Session
Back to Service Provider
Week 1Orientation Session
Core Seminars Begin3 Minute Pitch Workshop
Week 2-3Coaching Plan
Seminars Continue3 Minute Pitch Presentations
Week 4First Networking Session
Week 5First Monthly Report
Week 6-10Market Research Workshops
Creating Marketing Material WorkshopsBusiness Plan Development
Week 10Business Plan Draft Due
Week 14Final Business Plan Due
Business Plan Viability Review
Week 21On-Site Visit
Week 22Mid-Point Business Review
Week 22-42Ongoing One-On-One ConsultingMonitoring of Business Activity
Ongoing Feedback on Implementation Phase
Week 38Final Program Reviews
Week 41Final Networking Session
Graduation Ceremony
Week 42Funding EndsProgram Ends
Week 15Business Implementation Begins
Business Foundation Phase Implementation Phase
Orientation Session
Networking Sessions Seminars Hands On
WorkshopsOne on One Consulting Milestones
Speakers
Alumni
Activity
Marketing Presentation ChallengeThe Three Minute Pitch Coaching Coaching Plan
Sales
Finance
Administration
Entrepreneurship
Market Research
Marketing Plan
Advertising Promotion
Branding
Internet
Social Networking
Customer Service
Taxation
Pricing, Costing, Breakeven Analysis
Bookkeeping
Marketing Research
Creating Marketing Materials
Financial Planning & Excel
Management
The Business Plan
Resources
Mentorship
Barriers
Accountability
Business Plan
Site Visit
Mid-Year Review
Aftercare
Events
Business Showcase
Motivational Seminar
Presentations
Final Review
Graduation Ceremony
Two Components:
• The Business Outline - a written component detailing your business concept
• The Interview – an opportunity to discuss and augment what is presented in your outline
Application Process
Part I:
• Contact Information• Education/Training• Determination of Assets• Business Financial NeedsQuestions 1-4 should be self explanatory
Application Package
Part I
Education Level Completed:
Include any training that would impactyour business:
Application Package
• Sales courses • Public speaking courses• Bookkeeping courses• Massage therapy• Et cetera
Part I
Previously Applied:
Indicate whether or not youhave previously applied for the Ontario Self-Employment Benefit Program
Application Package
Part I
Important:
You must include a recent copy of your résumé in the OSEB application as well
Application Package
Part I
Steps you have already taken to becoming self-employed:
Application Package
• Researched market• Researched zoning• Researched competition• Researched environmental issues• Research on business viability
Part I
Disclosure Statement:
Application Package
It is important to disclose your self-employment activities in this section of the application • Please insure that the information is accurate• By signing you are declaring that it is so
Part I
Statement of Personal Investment:
Application Package
Include only what you are prepared to commit to the proposed business
Part I:
Statement of Personal Investment
Finance:
Application Package
• Cash• Other sources of finance:
•Line of credit, Credit card, Family• Equipment or tools:
•Table saw, Drill press, Ladders, Scaffolding, Miscellaneous tools, etc.
Part I
Statement of Personal Investment
Finance:
Application Package
• Vehicle (to be used in the business):• Estimate the amount vehicle to be used by business e.g. 20%• Multiply the monthly payment by that percentage and then by 9.5 (= 42 weeks)• Use this amount as part of your personal investment• If your vehicle is fully paid for use a maximum of 20% of the current value
Part I
Statement of Personal Investment
Finance:
Application Package
• Space/Real estate:• Estimate the amount that your home will be used by business e.g. 10%• Multiply your monthly rent or mortgage payment by that percentage and then by 9.5 (= 42 weeks)• Use this amount as part of your personal investment • If your home is fully paid for use the rental value your home would have should you decide to rent it out as the monthly figure
Part I
Statement of Personal Investment
Finance:
Application Package
•Other Related Assets:
• Books related to the business• Professional memberships • Courses taken that are related to the business
(Training, photography, software, driver instruction, special licensing, etc.)
Part I
Statement of Personal Investment
Finance:
Application Package
A total of all the dollar valuespreviously mentioned willgive you your personal investment
Part I
Part II:Entrepreneurial Skills & Self-Assessment
Application Package
Part II
Part III:Business Concept Outline
This is the tool that is used to assess the viability of the proposed business and contains 14 areas you must cover in describing your business opportunity
Application Package
Part III
Business Concept Outline
Application Package
1. Clearly Defined Business Concept• Describe your product or service• If you have more than one product or
service, illustrate that there is a common focus
1Part III
Application Package
2. Projected sales & expenses for first year
• Provide your projected sales and expenses for the first year
• Support your projections to demonstrate viability
2Business Concept Outline Part III
Application Package
2Part III
Application Package
3. Financial resources• Identify the necessary financial
resources to start your business• Identify the necessary financial
resources to maintain your business
3Part IIIBusiness Concept Outline
Application Package
4. Evidence of your ability to access financial resources
• Provide evidence of your ability to access financial resources
• Bank account in your name with funds that are readily available
• Bank statements, statement of available line of credit, bank or financial institution letter, assets, overdraft, letter of commitment from investors.
4Part IIIBusiness Concept Outline
Application Package
5. Other resources• Identify the other necessary
resources to start your business• Identify possible restrictions, legal
considerations, licenses/bylaws that affect your business
5Part IIIBusiness Concept Outline
Application Package
6. Evidence of your ability to access other resources
• Identify the other necessary resources to maintain your business
• Tools, computer, equipment, human resources, mentors, support, professional support services [e.g.. Lawyer], suppliers and distributors, etc.
6Part IIIBusiness Concept Outline
Application Package
7. Relevant skills• Provide an indication of any past
experience, training, education or relevant/transferable skills to support the proposed product or service
• Resume, seminars, work shops, degrees, diplomas, certificates, identification of relevant, transferable skills, volunteer work
7Part IIIBusiness Concept Outline
Application Package
8. Target markets• Identify your potential customers• Sample Customer Profile: Women
over 60 years, single, living in Ottawa, income over $75,000
• Sample Company Profile: Companies with less than 15 employees, software developers, Ottawa area, revenue over $ 500,000
8Part IIIBusiness Concept Outline
Application Package
9. Marketing strategy• Identify how you plan to meet the
needs of and reach your target audiences
• Product, Price, Place, Promotion• Identify promotional methods and
tools that you intend to use• Sample methods: advertising
methods (internet, flyers, newspapers, brochures, word of mouth), networking (who, when, where, why), promotion (discounts, coupons, events)
9Part IIIBusiness Concept Outline
Application Package
10. Sales • Identify what strategies and techniques
you will use to motivate your customer to buy your product or service
• Indicate why these techniques will be effective
• Identify features, advantages and benefits of your product or service
10Part IIIBusiness Concept Outline
Application Package
11. Supply and distribution• Identify how your products or services
will reach your target audiences• Identify potential suppliers • Indicate your distribution methods• Identify ideal locations• Explain and support your choices
11Part IIIBusiness Concept Outline
Application Package
12. Competition• Identify your main competition, both
direct and indirect, for your target customer
• Detail how your product or service differs from that of your competition
• Explain how your pricing will be compared to other businesses in your market
• Identify what sets your business concept apart from similar businesses
12Part IIIBusiness Concept Outline
Application Package
13. Sustainability• In the Entrepreneurial Skills and Self-
Assessment (Part 2) you identified what level of income you need to accommodate your cost of living and lifestyle
• Demonstrate how your business will be able to sustain that level of income
• Identify how you will continue to do so after 42 weeks in the program
13Part IIIBusiness Concept Outline
Application Package
14. Product/Service Development• Describe your current stage of
development for your product/service• Provide samples, prototypes, pictures,
a portfolio, a demonstration, documentation, and any other material to support your current stage of development
• Indicate when you will be ready to bring your product or service into the marketplace
14Part IIIBusiness Concept Outline
Important!
It is important to note that the level of detail required for each of the areas will depend upon the type of business you plan to start. Be thorough as sections will be weighted accordingly.
This is a business outline,not a business plan!Bring your concept to life!
Remember!
The completed application package must be submitted in person:
Monday October 17t
h
YMCA-YWCA
180 Argyle, 3rd floor
1pm to 3pm only
Application review & interviews will be held from October 18th to October 26th only
All candidates that apply will be interviewed
Incomplete applications will not be granted an interview, no extensions will be given
How to Apply?
List of suggested candidates will be submitted to the MTCU on October 28th.
Successful applicants will be contacted the week of November 21st.
Successful applicants will be asked to come sign their agreements by November 25th.
All other applicants will be informed of their outcome the same week via mail.
Program officially begins on November 28th.
Timeline
If desired, candidates not selected can arrange for a feedback meeting.
Please be reminded you should return to an employment specialist to explore other options that might be available to you
THE FEEDBACK MEETING WILL NOT CHANGE THE OUTCOME
OF YOUR APPLICATION
Timeline
• If you are EI eligible please complete the Ministry of Training, Colleges and Universities package (brown envelope) as per the instructions in the envelope.
•Prepare YMCA application package.
• Selection of candidates.
Next Steps…
Kathleen FairnieMinistry of Training, Colleges and Universities(613) 731-7100 ext [email protected]
MTCU Contact:
•What is the O.S.E.B. program?•How do I qualify?•What are my obligations?•What kind of businesses do not qualify?•What kind of financial assistance?•How do I fill out the application?
Agenda:
The OSEB Program provides entrepreneurial skills development support to approved participants to help them develop and implement
their business plan and become self employed.
It allows participants to concentrate on building a sustainable business by
providing them with financial assistance while they receive business
advice and support.
Ontario Self-Employment Benefits
Eligibility criteria
• Unemployed• On EI benefits• Reachback – have received benefits in past 3 years• Have had a parental or maternity claim established in the last 5 Years.
Ontario Self-Employment Benefits
Sustainability Requirements
Ontario Self-Employment Benefits
An individual must meet the following criteria:• Requires business support• Does not possess a professional designation
(medical doctor, lawyer, chartered accountant etc.)
• Proposes a business where there are no laws or regulations that impede the individual from starting it
• Possesses product or service knowledge and skills related to the proposed business activity
• Possesses the certification or qualification, if required under law or regulation, to perform the proposed business activity
Sustainability Requirements
Ontario Self-Employment Benefits
An individual must meet the following criteria:• Business concept as presented is considered to
be feasible• Individual provides evidence of a minimum of
25% equity (cash and/or in-kind) to contribute to the business; and if the business concept indicates the need for further business financing/investment, the individual must demonstrate the ability to access the business funds required
Ineligible Business Activities• Any activity that involves, in the opinion of the
Ministry, sexual exploitation, illegal activity, the production of materials that promote hate, discrimination or illegal activity, otherwise promoting hate, discrimination or illegal activity, proselytizing of a particular religious or political opinion
• Partnerships or corporations with less than majority ownership
Ontario Self-Employment Benefits
Ineligible Business Activities• Business that is partially or entirely based on
commission and dependant on a parent company (e.g. real estate agents, insurance brokers, Mary Kay)
• Franchise• Home-based daycare• Not for profit organization• Part-time business
Ontario Self-Employment Benefits
Eligible Business Activities• A new business or an existing business in
which the individual had no prior ownership; and
• A business that is suitable for public funding in the opinion of the Ministry. It may be:
• Seasonal in nature (the participant must devote all efforts full-time to the development and implementation of the business plan for the duration of the agreement. The participant may be engaged in more than one full-time seasonal activity within the agreement timeframe
• Home-based• A hobby converted into a business
Ontario Self-Employment Benefits
Eligible Business ActivitiesEligible business structures:
• Sole proprietorship• Partnership• Corporation
Ontario Self-Employment Benefits
What are my obligations?• Start a new business or purchase an existing
business (no prior ownership or completed business plan)
• Be able to contribute equity (cash or in kind) to the proposed business. The minimum contribution is calculated at 25% of the benefit you would receive if accepted to the program ($4,442)
• Devote a minimum of 35 hours per week towards the development of your business plan and then to the implementation of the business plan once approved
Ontario Self-Employment Benefits
What are my obligations?• Attend seminars, workshops and follow the
instructions as set out by the program• Report monthly on your progress including
sales, expenses, hours worked and a narrative• Limit part-time work outside of the business to
15 hours per week• Respond to a mid-term questionnaire and a
follow up questionnaire distributed by the Ministry
• Respect the written agreements signed with the Ministry and with the Y Enterprise Center
Ontario Self-Employment Benefits
Financial Assistance• $423.00 per week for a maximum of 42
weeks.• Financial assistance provided is to cover
basic living expenses while participating in the OSEB program. It must not be used for business investment purposes.
Ontario Self-Employment Benefits
Ontario Self-Employment BenefitsFinancial
Assistance • If you are accepted to the program and are receiving EI in the amount of $423 per week or more, you will continue to receive EI until it is exhausted and then the ministry will start issue the payments for $423 per week
• If you are accepted to the program and are receiving EI in the amount of less than $423 per week, you will continue to receive your EI plus a “top up” to $423 by the ministry until your EI is exhausted. The ministry will then pay the full $423 per week.
• If you are accepted to the program and are not receiving EI, the ministry will pay $423 per week from the start date of the program.
Business income will not be
deducted from your benefits.
Ontario Self-Employment Benefits
Remember…
Ontario Self-Employment Benefits
• While you are on E.I., you have an obligation to be available and looking for employment.
• The process of applying for the program does not exclude you from that requirement.
Things to consider…• Is this the right time to start a business?• Do I have the support of family and
friends?• Do I have a viable business idea?• Do I possess the product or service
knowledge and skills related to the business idea?
• Do I need additional certification or qualifications to perform the business?
• Do I meet the qualification criteria?
Ontario Self-Employment Benefits
How do I fill out the application? • The electronic version of the application
can be found at the following web address:http://www.tcu.gov.on.ca/eng/eopg/publications/89-1743e-oseb-
application.pdf
• Section APlease answer all of the questions in Section A. This is basic information about yourself.
• Section BPlease answer all of the questions in Section B. These questions assist us to establish your eligibility.
Ontario Self-Employment Benefits
How do I fill out the application? Section C - Suitability
• Please note that the OSEB Eligibility and Suitability Assessment Template for OSEB Coordinators will be completed by the Y Enterprise Center and forwarded separately.
Section D – Financial Assessment• You are only required to fill in this section if
you are requesting supplementary assistance (dependant care or Disability needs)
Ontario Self-Employment Benefits
How do I fill out the application? Section E – Child or Spousal Support
Obligations
• Please answer the questions.• If you do have spousal or child support and you
answer yes to all three of the questions in this section, please keep in mind that the financial support provided through this program are subject to garnish.
Ontario Self-Employment Benefits
How do I fill out the application? Section F
• The plan to return to work or Employment Service Plan will be obtained from your ES Service Provider.
• The OSEB Eligibility and Suitability Assessment Template for OSEB Coordinators will be obtained from the Y Enterprise Centre as well as the letter of support or non-support
• You will be contacted if there is a concern about Environmental Issues to fill in the questionnaire.
Ontario Self-Employment Benefits
• Current bank statement showing at least the minimum investment in a bank account belonging to the individual;
• Evidence of a loan of at least the minimum investment from a bank or other financial institution;
• Evidence that an overdraft facility or line of credit of at least the minimum investment has been formally accepted and is available through a bank account or joint account;
• In-kind contribution including non-monetary items or resources for the business that an individual can contribute or obtain, and proof of ownership and/or a signed statement showing ownership of equipment or materials to be used in the business and a reasonable estimate of their value from a legitimate source.
Ontario Self-Employment BenefitsAcceptable evidence of personal
investment
Last but not least…• Please be certain to sign and date your
application• Don’t forget to include your resume, a
summary of your business concept, and your evidence of personal investment with your application
• I will be here personally on October 17th to receive your applications
• I look forward to seeing you there!
Ontario Self-Employment Benefits
Ontario Self-Employment BenefitsThe completed application package must be submitted in person:
Thursday, October 17t
h
, 2011
YMCA-YWCA
180 Argyle, 3rd floor
1:oo pm to 3:00 pm only
Application review & interviews will be held from October 18th to October 26th only.
All candidates that apply will be interviewed
Incomplete applications will not be granted an interview, no extensions will be given
Ontario Self-Employment Benefits
QUESTIONS?