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| How Will You Finance Your New Venture?
It takes money to start a business. When starting a new venture one must consider how they will cover costs such as vehicles, equipment, land, buildings, supplies, and employees. A new venture will also require money for daily operating expenses such as rent, taxes, salaries and wages, advertising and utilities.
Explore all of your financial options before determining the most suitable type of financing. The amount, type, and source of financing that you need to start your new venture will depend on your product or service, how much money you can invest or require, how long you need it and how you plan on paying it back.
.Estimating Your Costs
How Much Will it Cost?
How much money do I need? - This factsheet is the the first in a three part series of factsheets "Funding Your Agricultural Business" that will help you secure the money you need for your new venture.
Start-up Cost Sheet - This worksheet will help you keep track of living and operating expenses while starting your business
Analyze your Profitability: Managing your Growth - This factsheet will help you evaluate your profitability during the important start-up years.
Preparing Financial Projections and Monitoring Results - This factsheet provides tips to help you complete financial forecasts which will be useful when dealing with lenders, investors, and others. These pages give high levels of understanding on topics such as financial planning, start-up and expansion costs, key assumptions, balance sheets, income statements and performance ratios
Starting a Business: How Much Will You Need? -The Royal Bank of Canada shows you how to calculate how much you will need to start up your business |
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Financing Options
How Will You Finance Your New Venture?
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| Getting Your Loan
How Will You Work With Investors?
- How do I get money? - This article talks about best practices when approaching a lender or investor.
- Get the loan you need - This factsheet explores how lenders evaluate loan applications and how you can prepare for that all-important meeting with a potential lender. This is intended to give business owners an edge in securing the financing they need to develop their business.
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| Sources of Financing
Where Will You Find Financing?
- Where can I get money - This factsheet will look at the kind of resources that you will need to fund your new venture. This next step is to determine where the money could come from.
- FCC (Farm Credit Canada) - Agribusiness financing options tailored to your operation.
- AFSC Lenders & Business Professionals - Whether you are expanding or starting a new venture, AFSC can help you achieve your goals by providing the financing you require.
- ATB - Learn about business solutions and get advice from their experts and partners.
- Business Basics for Alberta Food Processors - Sources of Assistance - Although this information focuses on food processors, it offers a wide range of technical, financial, planning and market development support for farms, agribusineses and food processors.
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| Phone the Ag-Info Centre, toll-free in Alberta at 310-FARM (3276), for assistance. |
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