Community Futures Saskatchewan — Self-Employment for the Unemployed
Highlights
This program is designed for you if you are looking to start or grow your business. It offers comprehensive support to help you develop the skills and knowledge needed to run a successful business. You will receive training in areas such as creative thinking, business plan development, financial record preparation, and customer service.
Why should you apply?
- Expert Guidance: Gain access to specialized business development support.
- Skill Development: Learn how to run a profitable business and handle legal issues.
- Financial Assistance: Explore various financing options, including business loans and grants.
What’s in it for you?
- Full-Time Commitment: Focus entirely on your business development.
- Tailored Training: Receive training that is specific to your business needs.
- Community Support: Benefit from the resources and expertise of Community Futures offices.
Applying for this program can significantly increase your chances of business success. It is designed to be accessible and supportive, making it easier for you to qualify and thrive.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- The loan comes with a fixed interest rate of 5%.
- Repayment term is up to 5 years.
- Monthly payments include both principal and interest.
Eligible Expenses:
- Business equipment and tools.
- Leasehold improvements.
- Inventory purchases.
- Marketing and advertising costs.
- Training and development for staff.
Ineligible Expenses:
- Personal expenses.
- Real estate purchases.
- Existing debt repayments.
- Non-business-related activities.
Fees:
- Application fee of $50.
- Annual service fee of 1% of the loan amount.
- No prepayment penalties.
Qualifications
- Must be a resident of Saskatchewan.
- Must be able to attend and participate full-time towards the development and implementation of the business.
- Must have a potentially viable and self-sustaining business idea that meets the criteria for eligible businesses.
Must be currently unemployed or underemployed (underemployed meaning current job is casual or part-time, working less than 20 hours per week, and unable to find full-time work that makes use of education or work experience).
Disqualifications:
- Not a resident of Saskatchewan.
- Unable to attend and participate full-time towards the development and implementation of the business.
- Does not have a potentially viable and self-sustaining business idea.
- Currently employed full-time in a job that makes use of education or work experience.
Description
The Self-Employment Program helps you start and run your own business. It offers support to gain the skills and knowledge you need. This program is perfect if you are unemployed or underemployed and want to create a self-sustaining job.
Benefits of the program include:
- Training in creative thinking and business plan development
- Guidance on running a profitable business
- Help with preparing financial records
- Advice on business communication and customer service
- Information on legal issues and financing options
By joining this program, you will receive valuable training and support to make your business idea a reality. The program aims to help you create a successful and sustainable business, providing you with the tools and knowledge to thrive.
Program Steps
Contact Your Regional Office: Reach out to the Community Futures office in your region. They will provide specific details and guidance on the application process.
Schedule a Pre-Screening Appointment: Arrange a pre-screening appointment with the Community Futures office. This will help determine your suitability for the program.
Prepare Necessary Documentation: Gather the required documents for your application. These may include:
- Proof of Saskatchewan residency
- Business plan
- Financial projections
- Personal identification
- Proof of current employment status (unemployed or underemployed)
Attend Full-Time Training: Be prepared to attend and participate full-time in the training sessions provided by the program. These sessions cover various aspects of business development and management.
Submit Your Application: Complete the application form provided by the Community Futures office. Ensure all required documents are included.
Undergo Detailed Assessment: Participate in a thorough assessment by the Community Futures office. This will evaluate the viability of your business idea and your readiness to start and operate a small business.
Receive Approval and Begin Implementation: Once approved, follow the guidance provided by the program to develop and implement your business plan. Utilize the skills and knowledge gained from the training sessions to operate your business successfully.