The business and loans manager for the Huron Business Development Corporation says completing a business plan can be one of the biggest challenges facing entrepreneurs starting up their new business.
Jim Niesen says often the business plan is seen just the paper work they have to complete to get a loan at the bank. But he points out the biggest beneficiary of a business plan is the entrepreneur, because it forces them to take a rational and critical look at their business and it's place in the market.
Niesen also suggests that sometimes business owners have to be a little more aggressive in seeking help for their company. He explains there are several government programs in place to help small businesses either get started or expand. But he adds they don't go knocking on doors. Business people have to do their homework, find out what's available and then find out what they have to do to qualify for help.
Niesen was a participant in a recent economic development workshop hosted by Huron-Bruce MPP Lisa Thompson.