Business
Plan 2007 - 2008
Prepared by: Sandra Tam
Manager
Date:
1) EXCECUTIVE SUMMARY
Located in the heart of the York
Region,
MSBEC provides
MSBEC has been successful in achieving its goals and missions through addressing client needs, leveraging partnerships as well as promoting and positioning MSBEC as a leader in providing business development assistance. The year 2006 was filled with many challenges, opportunities, and successes. MSBEC served an increasing number of clients, enhanced and implemented new programs, created a greater awareness in the community and raised substantial dollars to fund its operations.
Key performance indicators include:
2005 2006 2007 (projected)
§ General Client Inquiries 2,090 2,131 2,150
§ Web-based Client Contacts 28,634 30,068 31,000
§ One-on-One Consultations 214 250 240
§ Small Business Seminars 15 15 12
- Attendance 637 648 600
§ Outreach Presentations 32 29 12
- Attendance 1,640 1,968 1,000
The
increased awareness and high profile of MSBEC have resulted in an ever growing
demand for the services for the Centre.
The Centre has maintained a balanced budget for the past years, despite
increased costs of running the office and delivering the expanded programs. The 2007-08 program
has been designed to be delivered within the existing budgetary and staffing
capacities of the Centre. The annual
objectives have been adjusted to reflect the need to maintain quality of
service and to be fiscally responsible.
The center will continue to deliver outreach presentations in the local area focusing on youth (entrepreneurship classes), business associations and other relevant groups.
MSBEC will continue to raise public awareness by hosting premier business events such as the Young Entrepreneur Awards Presentation and the Small Business Month Business Conference as well as participating in joint business functions.
As part
of the MSBEC 2006 marketing plan, a DVD will be created to be used as a
promotional piece for MSBEC and as a celebration of entrepreneurship. Production
has started and the recommended final version will be presented to Council in
April. It is expected that the final
product will be released in mid-2007.
As the
market for MSBEC services continues to grow, the MSBEC Manager and the Director
of Economic Development will monitor the demand for service over the course of
the year and will pursue discussions with community partners regarding the
prospects for increasing the capacity of the MSBEC to address future growth
through new partnerships and service delivery paradigms.
2) BACKGROUND
The Markham Small Business Enterprise Centre (MSBEC) was established in
2003 and is funded by the Town of
MSBEC is managed
by a full-time Town of
MSBEC provides
§ To be the “one-stop” shopping centre for business tools, information, education, resource and networking for small and medium-sized businesses.
§ To provide stability and early-stage growth support to existing small business (less than 5 years in operation, under 10 employees and under 5 million dollars in sales) and improve the success rate.
§
To promote and encourage entrepreneurship as a
viable career option by developing entrepreneurial skills, qualities and
opportunities for
The Markham Small Business
Enterprise Centre is assisted by an Advisory Board of funding sponsors and
partners that meets quarterly to review the MSBEC operation and provide
feedback and advice relating to the strategic direction of the Centre. Members of the Advisory Board are:
Co-Chairs: Stephen
Wong, B.Sc., M.Cs.
President,
ESM Group Inc.
Sanning
Cheng, MBA, C.A
Partner,
BDO Dunwoody LLP, Chartered Accountants & Advisors
Members: Tony
Wong
Regional
Councillor, Town of
Erin
Shapero
Ward
2 Councillor, Town of
Stephen A. Chait, CMC, Ec.D.
Director of
Economic Development, Town of
Ted Northcott
Regional Advisor, Central Region, Entrepreneurship
Branch
Ministry of Small Business and Entrepreneurship
Keith Bray
President & CEO,
Jennifer Figueira
Sales
Manager, Small Business,
RBC Royal Bank
Reza Alavie
Professor,
Applied Research & Commercialization,
MSBEC has been successful in achieving its goals and missions through addressing client needs, leveraging partnerships as well as promoting and positioning MSBEC as a leader in providing business development assistance. During 2006-2007, MSBEC served an increasing number of clients, enhanced and implemented new programs, created a greater awareness in the community and raised substantial dollars to fund its operations.
5.1 Support and Encourage Entrepreneurship:
· Increased community awareness through implementation of several successful marketing strategies, contributing to the increase in client contacts. In 2006-2007 MSBEC received/completed:
§ 2,131 general client inquiries
§ 30,068 web-based client contacts
§ 250 one-on-one consultations
· Increased volume of small business seminars/workshops:
§ 15 small business seminars/workshops (attendance: 648)
§ 28 general/Youth outreach events (attendance: 1,982)
· In conjunction with local accounting community, the Accounting Mentorship Program provided professional advice to 21 clients.
·
Partnered with
·
Celebrated the “Small Business Month” with a
premier small business forum that attracted more than 90 small business owners
and leaders from
5.2 Promote
and Encourage Youth Entrepreneurship Among
Youths:
·
Delivered the fourth Markham Secondary School
Business Plan Competition to
· Successfully administered the Ontario Summer Company Program and five Markham youths were awarded after successful completion of the Program. Since 2001, 27 students were awarded through MSBEC.
· Assisted two young entrepreneurs in applying successfully to the Canadian Youth Business Foundation for a total loan amount of $30,000.
5.3 Maximize
and leverage partnerships and collaborations to benefit clients and
stakeholders:
· Co-branded small business seminars with Markham Board of Trade.
· Markham Board of Trade offers privileged membership program to MSBEC clients
·
Partnered with Professional Engineers,
· Delivered a joint program with Markham Public Libraries to address clients’ market research needs
· Co-hosted two Small Business Month events with Markham Public Libraries
· Supported YMCA Business Centre in delivering the International Women’s Day Conference
·
Initiated partnership with
5.4 Increase
external funding and generate earned revenue:
·
Maintained core funding from MSBE
·
Obtained non-regular additional funding of $30,000
from MSBE
·
Raised 8,600 cash contribution from private
sponsors
·
Received $8,000 in-kind contribution from
private sponsors
·
Earned event revenue $2,700
5.5 Promote and position
Markham/MSBEC as a leader in providing
business
development assistance:
·
Received extensive media coverage for events
hosted
·
Appeared in Fairchild Television’s “Leisure
Talk” to promote MSBEC and Youth Programs
·
Presented (in English and Mandarin) 7 “Starting
A Small Business In Ontario” seminar to ethnic business associations and
community service groups; attendance: 252
MSBEC is dedicated
to strengthening
MSBEC’s efforts have made an impressive impact on the small business community. Based on the results of on going client survey of clients attending consultations at MSBEC in 2006, 68 businesses were either started or expanded.
Moreover, 182 businesses were registered through the Ontario Business Connects terminal in MSBEC in 2006.
Most importantly, by
providing early-stage support to SMEs, MSBEC caters to helping them succeed, thereby
generating a long-term impact that benefits the small and medium size business
sectors.
Table 1: ECONOMIC
IMPACT TARGETS - 2006-2007 Actual; 2007-2008 Projected
|
ECONOMIC IMPACT |
2006-2007 Quarterly |
2006-2007 Annual |
2007-2008 Quarterly |
2007-2008 Annual |
||
|
|
Pro-jected |
Actual |
Pro-jected |
Actual |
Projected |
Projected |
|
Business Started |
12 |
17 |
48 |
68 |
15 |
60 |
|
Business Expanded |
2 |
0.5 |
8 |
2 |
2 |
8 |
|
Jobs Created |
20 |
23 |
80 |
92 |
20 |
80 |
7) PARTNER
SUPPORT FOR
The MSBEC continues to build its
strength through strategic partnership and alliances with local small business
organizations, associations and professional groups. Partners find the affiliation mutually
beneficial and continue to support MSBEC to address the common needs of
7.1 Partnership
with
In partnership
with the Canada-Ontario Business Service
Centre, MSBEC is one of the of Regional Access Program (RAP) sites that
presents the business clients of exceptional service for all their business
development needs. COBSC provides RAP
sites with a library of print and electronic business information resources to
help clients conduct thorough research.
The core collection of print directories and reference materials include
Business Plans Handbooks, Canadian Trade Index, FM Markets: Canadian
Demographics 2006, Canadian Almanac and Directory 2006, and Associations Canada
2006, etc.
7.2 Partnership with
MSBEC is one of the internet-based workstations that provide single-window registration solutions. The most commonly required registrations can be completed at an easy-to-use, self-serve computer workstation on site at MSBEC. The following applications can be completed at the workstation:
§ Business Name Registration
§ Business Name Renewal
§ Retail Sales Tax Vendor Permit
§ Employer Health Tax
§ Workplace and Safety Insurance Board
7.3. Community Partners
The MSBEC is supported through public and private sector partnerships. Events such as breakfast seminars and workshops are supported and promoted through Community Partners to reach a much broader audience. Greater operational efficiency is also achieved through the pooling of resources.
§ Services of MSBEC are now made known and available to the 1,000 members of the Markham Board of Trade, members of the Professional Engineers of Ontario - York Chapter, and entrepreneurs of the Chinese Community.
§ On-going discussions with Markham Public Libraries are underway to co-host business-related events.
§
The
The strong partnership contributes to the success of MSBEC and ensures that the Centre is servicing the different needs of small business clients in the local community. To further strengthen the partnership, contacts will be established or continued with local community organizations. Existing partners include:
§
§
§ Association of Chinese Canadian Entrepreneurs
§
Business Development Bank of
§
Innovation Synergy Centre in
§ North American Association of Asian Professionals
§
Professional Engineers of
§
7.4 Private Sector Sponsors,
2006
MSBEC continues to receive financial and in-kind support from the private sector. The breakdown is as follows:
In-Kind
Cash
Contribution Contribution
RBC Royal Bank $5,000
BDO Dunwoody, LLP $3,000
Professional Engineers of
ESM Group Inc. $5,000
Digital Impression Group ______
$3,000
Total: $8,600 $8,000
In addition to the financial
contribution, private sector sponsors contributed significant staff time in support
of MSBEC programs by being Business Plan Competition Judging Panel, mentors to
young entrepreneurs, and/or guest speakers at seminars/workshops, etc.
8)
As part of the
8.1 Administration
Maintenance, coordination and implementation responsibilities will be met in the following areas:
§ Separate accounting processes for financial administration
§ Maintenance of necessary office equipment and supplies
§ Maintenance and administration of all business publications and program information inventory, records and report statistics and sales
§ Distribute business related material including the promotion and sale of business publications
§ Administer and coordinate all MSBE young entrepreneur initiatives
§ Maintenance of Canada Ontario Business Service Centre (COBSC) regional computer access site
§ Performance of day-to-day administrative duties necessary for the maintenance of Markham Small Business Enterprise Centre
§ Implement and maintain comprehensive client management software program to allow for monitoring of client service levels, areas of assistance required, assistance provided to each client, follow up assistance and ongoing contact with clients
§ Review and explore feasibility and potential of future partnerships with additional private sector partners, government and local organizations
§ Maintain, review for relevancy and purchase business resources to ensure client needs are met
§ Maintain, enhance and develop current website as necessary
8.2 Entrepreneur
Enquiries/Consultations
Professional assistance will continue to be available to existing and aspiring entrepreneurs through many facets or points of contact. Direct assistance will be provided through one-on-one professional consultation, general inquiry assistance, seminars/workshops and the legal/accounting mentorship programs.
Accurate client files will be maintained on all consultations with specific notation to client, services provided, areas of additional assistance, follow up actions and point of contact for continued development of client/center relationships.
Table 2: CLIENT SERVICE PERFORMANCE
TARGETS FOR 2006-2007, GENERAL INQUIRIES – Actual / Projected:
|
|
Volume Projected and
Actual 2006 - 2007 |
|||||||||
|
ACTIVITY |
1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
Annual |
|||||
|
|
Pro-jected |
Actual |
Pro-jected |
Actual |
Pro-jected |
Actual |
Pro-jected |
Actual |
Pro-jected |
Actual |
|
General
Inquiries (Telephone
Calls, Walk-ins,E-mails) |
550 |
620 |
450 |
510 |
550 |
461 |
650 |
540 |
2200 |
2131 |
Table 3: CLIENT SERVICE PERFORMANCE
TARGETS FOR 2007-2008, GENERAL INQUIRIES - Projected:
|
ACTIVITY |
Volume Projected 2007-2008 |
||||
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
Annual |
|
General Inquiries (Telephone Calls, Walk-ins, E-mails) |
600 |
500 |
500 |
550 |
2150 |
Table 4: CLIENT SERVICE
PERFORMANCE TARGETS FOR 2006-2007, CONSULTATION – Actual / Projected:
|
|
Volume Projected and
Actual 2006 - 2007 |
|||||||||
|
ACTIVITY |
1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
Annual |
|||||
|
|
Pro-jected |
Actual |
Pro-jected |
Actual |
Pro-jected |
Actual |
Pro-jected |
Actual |
Pro-jected |
Actual |
|
Total New
Consultations |
57 |
56 |
40 |
59 |
40 |
60 |
58 |
51 |
195 |
226 |
|
Total Repeat
Consultations |
6 |
9 |
6 |
5 |
6 |
4 |
7 |
6 |
25 |
24 |
|
Total New and Repeat Consultations |
63 |
65 |
46 |
64 |
46 |
64 |
65 |
57 |
220 |
250 |
Table 5: CLIENT CONSULTATION PERFORMANCE TARGETS FOR 2007-2008,
CONSULTATION - Projected:
|
|
VOLUME 2007-2008 |
||||
|
ACTIVITY |
Projected |
||||
|
|
1st Quart |
2nd Quart |
3rd Quart |
4th Quart |
Annual |
|
Total New Consultations |
50 |
55 |
60 |
45 |
210 |
|
Total Repeat Consultations |
8 |
8 |
6 |
8 |
30 |
|
Total New and Repeat Consultations |
58 |
63 |
66 |
53 |
240 |
8.3 Education
and Business Training
The increased awareness and high profile of MSBEC have
resulted in an ever growing demand for the services for the Centre. The Centre has maintained a balanced budget
for the past years, despite increased costs of running the office and
delivering the expanded programs. The
2007-08 program has been designed to be delivered within the existing budgetary
and staffing capacities of the Centre.
The annual objectives have been adjusted to reflect the need to maintain
quality of service and to be fiscally responsible.
8.3.1
Seminars and workshops will be developed and coordinated annually to
encourage and promote small business growth locally.
Key seminar topics include:
-
Legal and Financial
Considerations for Starting A Small Business
-
Tax Tips for the
Self-Employed
-
Record Keeping Made
Easy
-
Marketing On A
Shoe-String Budget
-
Effective Marketing
and Selling Techniques
-
How To Develop A
Business Plan
-
Networking That Works
-
Managing Legal and
Financial Risks
-
Intellectual Property
8.3.2
Outreach Presentations
The center will also continue to deliver outreach presentations in the local area focusing on youth (entrepreneurship classes), business associations and other relevant groups.
According to the 2001
Census, almost 50% of
Among the newcomers (both
less and more than 3 years), 69% are Chinese, 15% are South Asian, 6% are from
European, 3% are from the Middle East and 7% are from other countries such as
Japan, Korea and the Philippines.
There is an increased demand for services by newcomers, which is evidenced by the increased requests for outreach presentations on “How To Start A Small Business In Ontario” to groups such as COSTI, the Centre for Information and Community Services (CICS), York Region Catholic Community Service Centre and the Chinese Professional Association of Canada, etc. The Centre will continue to work with these groups to meet their requests for services.
8.3.3
Major
Business Networking Events
MSBEC will host the following major annual events:
§
Salute to Small
Business Conference
Annually the
Centre hosts a premier business networking event in October, the designated
Small Business Month, to celebrate the success and achievement of small
businesses. It was often well attended
and feedback was excellent.
§
International Women’s
Day Conference
MSBEC will continue to support the YMCA Business Centre to
deliver the International Women’s Day Conference to motive and inspire women
entrepreneurs.
§
Young Entrepreneur
Awards Presentation
Summer Company Program and Secondary School Business Plan
Competition award winners will be honoured at an award presentation. The event will also help in raising the
awareness of the programs and increase participation rate.
Table 6: EDUCATION/SEMINAR PERFORMANCE TARGET FOR 2006-2007
Actual/Projected; 2007-2008 Projected:
|
ACTIVITY |
Volume 2006-2007 |
Attendance 2006-2007 |
Volume 2007-2008 |
Attendance 2007-2008 |
||
|
|
Projected |
Actual |
Projected |
Actual |
Projected |
Projected |
|
Seminars/Workshops |
12 |
15 |
600 |
648 |
12 |
600 |
|
General Outreach |
16 |
29 |
800 |
1,968 |
18 |
1,000 |
|
Events Hosted |
4 |
4 |
360 |
336 |
4 |
360 |
Table 7: QUARTERLY
BREAKDOWN – EDUCATION/SEMINAR PERFORMANCE TARGET FOR 2007-2008:
|
ACTIVITY |
2007-2008 Apr - Jun |
2007-2008 Jul - Sept |
2007-2008 Oct - Dec |
2007-2008 Jan - Mar |
||||
|
|
Volume |
Attend. |
Volume |
Attend. |
Volume |
Attend. |
Volume |
Attend. |
|
Seminars/Workshops |
6 |
300 |
2 |
100 |
2 |
100 |
2 |
100 |
|
General Outreach |
5 |
300 |
4 |
200 |
4 |
200 |
5 |
300 |
|
Events Hosted |
0 |
0 |
1 |
80 |
2 |
160 |
1 |
120 |
8.4 Facilitated Consultations
The Markham Small Business Enterprise Centre will offer facilitated consultations in partnership with local accounting firms, with the expanded option of Sales/Marketing /Financial counselling as well. The program provides free 30-minute consultations, by appointment, to potential entrepreneurs or existing business.
Due to the excellent feedback from clients and the mentoring accountants who participated in the program, the Accounting Mentorship Program will continue into 2007 to 2008. It is anticipated that the service will be expanded to include management counseling services.
Table 8: FACILITATED CONSULTATIONS PERFORMANCE TARGET FOR
2006-2007- Projected / Actual:
|
ACTIVITY |
2006-2007 Apr - Jun |
2006-2007 Jul - Sept |
2006-2007 Oct - Dec |
2006-2007 Jan - Mar |
2006-2007 Total |
|||||
|
|
Pro-jected |
Actual |
Pro-jected |
Actual |
Pro-jected |
Actual |
Pro-jected |
Actual |
Pro-jected |
Actual |
|
Accounting |
5 |
6 |
4 |
4 |
5 |
4 |
4 |
7 |
18 |
21 |
Table 9: FACILITATED CONSULTATIONS PERFORMANCE TARGET FOR
2007-2008 - Projected:
|
ACTIVITY |
Projected Target 2007-2008 |
||||
|
Apr-Jun |
Jul-Sep |
Oct-Dec |
Jan-Mar |
Total |
|
|
Accounting |
6 |
4 |
5 |
5 |
20 |
8.5 Youth Entrepreneurship Programs
MSBEC is committed to fostering
and supporting the entrepreneurial spirit and skills of students and young
adults of
Province) and administer the local Secondary School Business Plan Competition. Award winners will be honoured at an award ceremony in mid-October.
To
optimize MSBEC’s resources on youth programs, the Centre has terminated its
formal partnership arrangement with the Canadian Youth Business Foundation
effective January 2007. During the
experimental year, it was found that almost all applicants were from outside of
8.6 Trade Shows/Fairs/Business Expos
The Centre will also participate in trade shows and annual meetings of various local business groups and associations including: Markham Board of Trade, York Technology Association, Association of Chinese Canadian Entrepreneurs and other private partner sponsors initiatives.
8.7
Reporting
The Centre will continue to provide timely and accurate reports to MSBE as required. The reports will include the following:
§ Monthly Summary of Centre Activities to be submitted electronically
§ Seminar Activity reports to be completed and submitted, after each seminar/workshop
§ Attendance and reporting as required at regional branch meetings
§ Continue to monitor all client activities through client management system and report where required
§ Continue to undertake client surveys to determine the success of the Centre in terms of value provided to clients, number of new business start-ups, number of business retention and other pertinent data
§ Continue to implement, monitor and report on the MSBE young entrepreneur strategy initiatives
8.8 Professional Development
All opportunities to participate in professional development will be undertaken including attendance at seminars, workshops or other appropriate meetings that support current responsibilities, future growth areas or provide opportunity for advancement by all staff members.
8.9 Staffing
The Markham Small Business Enterprise Centre is operated by two staff members. The staffing includes:
1 Full-time Senior Consultant/Centre Manager
1 Part-time Administrative Assistant
Reporting to the Enterprise Centre Manager, the Administrative Assistant provides administrative support to clients and general public accessing the Enterprise Centre.
Given the growing population of
8.10 Market Communications
Though MSBEC has earned the reputation as the leading resource centre for small business information, MSBEC will continue to raise public awareness by hosting premier business events such as the Young Entrepreneur Awards Presentation and the Small Business Month Business Conference, which will generate significant media exposure and free advertising for the Centre.
Networking remains one of the most effective ways of marketing the Centre. The Centre will continue to deliver outreach presentations to the local business and education communities and other relevant groups.
As part of the MSBEC 2006 marketing plan, a DVD will be
created to be used as a promotional piece for MSBEC and as a celebration of
entrepreneurship. Production has started and the recommended final version will
be presented to Council in April. It is
expected that the final product will be released in mid-2007.
9) PARTNER
FINANCIAL CONTRIBUTIONS:
9.1 2007-2008: MSBE Financial Contribution
Funding from MSBE for “Services Rendered” will start at $55,000 for the new fiscal period. Other funding will also be provided for the coordination and administration of MSBE programs.
The estimated total funding provided by MSBE will be:
Annual Contribution - Services Rendered $55,000
*Summer Company Program (Gross Amount) 9,500
*Salute to Small Business Month (Gross Amount) 2,500
*Business Plan Competition (Gross Amount) 3,500
Total
Funding from MSBE $70,500
*Provided the programs are still in operation by the Province. Estimates based on last year.
9.2 2007-2008:
Municipal Partner Funding Contribution
Office space contribution (in kind) – approx. 1,200 sq. ft.
@$30/sq.ft $36,000
Cash contribution:
Marketing Expense/Volunteer Support 30,000
Staff Earnings/Benefits 20,000
Misc. in kind contribution:
Office equipment/phone/fax/photocopy
Fixtures
Utilities – heat/hydro/AC
Cleaning/janitorial
Admin. Support including training
Office supplies
Printing, Mailing, Advertising
Misc. seminar costs i.e. food/beverage
Meeting room/audio visual 31,166
9.3 2007-2008:
Funding of MSBEC
Town of
MSBE Contribution –
Services Rendered 70,500
Sponsorships (anticipated) 10,834
Revenue –
Seminars/Workshops/Programs 3,000
Total Funding (including
in-kind) & Revenue $201,500
9.4 2007-2008:
MSBEC Expenditures
Manager Earnings/Benefits $77,000
Junior Consultant/Administrative Consultant, P/T 20,000
Marketing/Promotion 20,000
Office Space 36,000
Travel Expenses 2,000
Photocopying 3,000
Printing 5,000
Office Supplies 5,000
Publications 2,000
Advertising 5,000
Telecommunications 3,000
Meeting Expenses 6,000
Promotional DVD 15,000
Misc. 2,500
Total Expenditure: $201,500