Start with an idea that has potential. Find out as much as you can from others such as your friends, family, the library, other business owners, the web, etc. You must convince yourself and others that your plan makes sense and is commercially viable. Your enterprise must generate enough revenue to pay the bills and earn a living.
The Aboriginal Banking Department was created in 1996. It offers customized, long-term and flexible solutions specially designed for Aboriginal entrepreneurs.
As an Indigenous entrepreneur, you want to deal with a bank that has in-depth insight into your unique business opportunities and challenges.
“Aboriginal entrepreneurs and business owners face several obstacles in accessing financing for start-up, on-going operations, acquisitions, and expansions.” *
Use the Indigenous Entrepreneur Loan to:
Acquire fixed assets
Finance franchise fees
Cover start-up costs
Start exporting
Replenish working capital
The Fiscal Plan is a consolidated, program by program budget. The fiscal plan lays out the overall Band Council budget for the new fiscal year and is based upon approved Program Work Plans. Program budgets set out expected financial activities during the fiscal year. They are based on an analysis of revenues and expenditures and include both capital and operational expenditures.
A Revenue Forecast is a realistic summary of anticipated income from all sources including federal government departments, provincial ministries, community-based royalties, trusts and foundations, and private agreements.
