Welcome!
OSEB
Program
Information
Session
Out of courtesy to
those around you,
please turn off all
electronic devices
Introduction
Who are we?
The Enterprise Centre
• Business services delivered by a team of small
business specialists
• Provides you with the tools to help your business
succeed, including targeted management training,
business plan assistance and access to experienced
advisors
• Offers a proven track record helping aspiring
entrepreneurs get their businesses off the ground
• Open to program participants only (OSEB & YEP)
YMCA-YWCA | Delivery Agent
180 Argyle 3rd Floor | 613.788.5001
What is SEB?
• A core curriculum of instructional seminars covering
key business areas
• Hands-on workshops & events
• Facilitated business & market planning
• Individual one-on-one consultations and meetings
• Information & assistance on all aspects of business
start-up and development
• Access to specialists from the business community
• Follow-up and aftercare
What is SEB?
• Creating a business plan
• Monthly reporting to track progress and provide
feedback
• On-site visits
• Networking events and roundtable discussions
• Ongoing business assessment and review
• Potential funding for up to 42 weeks
The Application Process
Service Provider
Eligibility & Suitability
Y Contacts Referred Clients
to Attend Information Session
Information Session
Application – Business Outline
Personal Interview
Accepted / Supported
Not Accepted / Not Supported
Orientation Session
Feedback Interview Offered
Back to Service Provider
Business Foundation Phase
Implementation Phase
Week 1
Orientation Session
Core Seminars Begin
3 Minute Pitch Workshop
Week 15
Business Implementation Begins
Week 2-3
Coaching Plan
Seminars Continue
3 Minute Pitch Presentations
Week 21
On-Site Visit
Week 4
First Networking Session
Week 22
Mid-Point Business Review
Week 5
First Monthly Report
Week 22-42
Ongoing One-On-One Consulting
Monitoring of Business Activity
Ongoing Feedback on Implementation Phase
Week 6-10
Market Research Workshops
Creating Marketing Material Workshops
Business Plan Development
Week 38
Final Program Reviews
Week 10
Business Plan Draft Due
Week 41
Final Networking Session
Graduation Ceremony
Week 14
Final Business Plan Due
Business Plan Viability Review
Week 42
Funding Ends
Program Ends
Orientation
Session
Networking
Sessions
Hands On
Workshops
Seminars
Speakers
Marketing
One on One
Consulting
Events
Milestones
Presentation Challenge
The Three Minute Pitch
Coaching
Coaching Plan
Business Showcase
Alumni
Marketing Plan
Marketing Research
Resources
Business Plan
Motivational Seminar
Activity
Advertising
Promotion
Creating Marketing
Materials
Mentorship
Site Visit
Presentations
Branding
Financial Planning
& Excel
Barriers
Mid-Year Review
Graduation Ceremony
Internet
Accountability
Final Review
Social Networking
Aftercare
Sales
Customer Service
Finance
Taxation
Pricing, Costing,
Breakeven Analysis
Administration
Bookkeeping
Management
Entrepreneurship
Market Research
The Business Plan
Application Process
Two Components:
• The Business Outline - a written
component detailing your business concept
• The Interview – an opportunity to
discuss and augment what is presented in
your outline
Application Package
Part I:
• Contact Information
• Education/Training
• Determination of Assets
• Business Financial Needs
Questions 1-4 should be self explanatory
Part I
Application Package
Education Level Completed:
Include any training that would impact
your business:
• Sales courses
• Public speaking courses
• Bookkeeping courses
• Massage therapy
• Et cetera
Part I
Application Package
Previously Applied:
Indicate whether or not you
have previously applied for
the Ontario Self-Employment
Benefit Program
Part I
Application Package
Important:
You must include a recent copy
of your résumé in the OSEB
application as well
Part I
Application Package
Steps you have already taken to
becoming self-employed:
• Researched market
• Researched zoning
• Researched competition
• Researched environmental issues
• Research on business viability
Part I
Application Package
Disclosure Statement:
It is important to disclose your
self-employment activities in this section
of the application
• Please insure that the information is accurate
• By signing you are declaring that it is so
Part I
Application Package
Statement of Personal Investment:
Include only what you are
prepared to commit to the
proposed business
Part I:
Application Package
Statement of Personal Investment
Finance:
• Cash
• Other sources of finance:
•Line of credit, Credit card, Family
• Equipment or tools:
•Table saw, Drill press, Ladders, Scaffolding,
Miscellaneous tools, etc.
Part I
Application Package
Statement of Personal Investment
Finance:
• Vehicle (to be used in the business):
• Estimate the amount vehicle to be used by
business e.g. 20%
• Multiply the monthly payment by that
percentage and then by 9.5 (= 42 weeks)
• Use this amount as part of your personal
investment
• If your vehicle is fully paid for use a
maximum of 20% of the current value
Part I
Application Package
Statement of Personal Investment
Finance:
• Space/Real estate:
• Estimate the amount that your home will be
used by business e.g. 10%
• Multiply your monthly rent or mortgage
payment by that percentage and then by
9.5 (= 42 weeks)
• Use this amount as part of your personal
investment
• If your home is fully paid for use the rental
value your home would have should you decide
to rent it out as the monthly figure
Part I
Application Package
Statement of Personal Investment
Finance:
•Other Related Assets:
• Books related to the business
• Professional memberships
• Courses taken that are related to the business
(Training, photography, software, driver
instruction, special licensing, etc.)
Part I
Application Package
Statement of Personal Investment
Finance:
A total of all the dollar values
previously mentioned will
give you your personal
investment
Part I
Application Package
Part II
Part II:
Entrepreneurial Skills
& Self-Assessment
Application Package
Part III:
Business Concept Outline
This is the tool that is used to assess the
viability of the proposed business and
contains 14 areas you must cover in
describing your business opportunity
Part III
Application Package
Business Concept Outline
1.
Clearly Defined Business Concept
•
•
Describe your product or service
If you have more than one product or service,
illustrate that there is a common focus
Part III
1
Application Package
Business Concept Outline
2.
Projected sales & expenses for first year
•
•
Provide your projected sales and expenses for
the first year
Support your projections to demonstrate
viability
Part III
2
Application Package
Month#1
Month#2
Month#3
Month#4
Month#5
Month#6
Month#7
Part III
Estimated revenue from products
Estimated revenue from services
Total Revenue (A)
Estimated monthly expenses
1
2
3
4
5
6
7
8
9
10
Total expenses
(B)
Total (A - B)
2
Application Package
Business Concept Outline
3.
Financial resources
•
•
Identify the necessary financial resources to
start your business
Identify the necessary financial resources to
maintain your business
Part III
3
Application Package
Business Concept Outline
4.
Evidence of your ability to access
financial resources
•
•
•
Provide evidence of your ability to access
financial resources
Bank account in your name with funds that
are readily available
Bank statements, statement of available line
of credit, bank or financial institution letter,
assets, overdraft, letter of commitment from
investors.
Part III
4
Application Package
Business Concept Outline
5.
Other resources
• Identify the other necessary resources to
start your business
• Identify possible restrictions, legal
considerations, licenses/bylaws that
affect your business
Part III
5
Application Package
Business Concept Outline
6.
Evidence of your ability to access other
resources
•
•
Identify the other necessary resources to
maintain your business
Tools, computer, equipment, human
resources, mentors, support, professional
support services [e.g.. Lawyer], suppliers
and distributors, etc.
Part III
6
Application Package
Business Concept Outline
7.
Relevant skills
•
Provide an indication of any past experience,
training, education or relevant/transferable
skills to support the proposed product or
service
•
Resume, seminars, work shops, degrees,
diplomas, certificates, identification of relevant,
transferable skills, volunteer work
Part III
7
Application Package
Business Concept Outline
8.
Target markets
• Identify your potential customers
• Sample Customer Profile: Women over
60 years, single, living in Ottawa,
income over $75,000
• Sample Company Profile: Companies
with less than 15 employees, software
developers, Ottawa area, revenue over
$ 500,000
Part III
8
Application Package
Business Concept Outline
9.
Marketing strategy
• Identify how you plan to meet the needs
of and reach your target audiences
• Product, Price, Place, Promotion
• Identify promotional methods and tools
that you intend to use
• Sample methods: advertising methods
(internet, flyers, newspapers,
brochures, word of mouth), networking
(who, when, where, why), promotion
(discounts, coupons, events)
Part III
9
Application Package
Business Concept Outline
10. Sales
•
•
•
Identify what strategies and techniques you
will use to motivate your customer to buy
your product or service
Indicate why these techniques will be
effective
Identify features, advantages and benefits of
your product or service
Part III
10
Application Package
Business Concept Outline
11.
Supply and distribution
•
•
•
•
•
Identify how your products or services will
reach your target audiences
Identify potential suppliers
Indicate your distribution methods
Identify ideal locations
Explain and support your choices
Part III
11
Application Package
Business Concept Outline
12. Competition
•
•
•
•
Identify your main competition, both direct
and indirect, for your target customer
Detail how your product or service differs
from that of your competition
Explain how your pricing will be compared to
other businesses in your market
Identify what sets your business concept
apart from similar businesses
Part III
12
Application Package
Business Concept Outline
13. Sustainability
•
•
•
In the Entrepreneurial Skills and SelfAssessment (Part 2) you identified what level
of income you need to accommodate your
cost of living and lifestyle
Demonstrate how your business will be able
to sustain that level of income
Identify how you will continue to do so after
42 weeks in the program
Part III
13
Application Package
Business Concept Outline
14. Product/Service Development
•
•
•
Describe your current stage of development
for your product/service
Provide samples, prototypes, pictures, a
portfolio, a demonstration, documentation,
and any other material to support your
current stage of development
Indicate when you will be ready to bring your
product or service into the marketplace
Part III
14
Important!
It is important to note that the
level of detail required for each of
the areas will depend upon the
type of business you plan to start.
Be thorough as sections will be
weighted accordingly.
Remember!
This is a business outline,
not a business plan!
Bring your concept to life!
How to Apply?
The completed application package must be submitted
in person:
Monday October 17th
YMCA-YWCA
180 Argyle, 3rd floor
1pm to 3pm only
Application review & interviews will
be held from October 18th to October 26th only
All candidates that apply will be interviewed
Incomplete applications will not be granted an
interview, no extensions will be given
Timeline
List of suggested candidates will be submitted to the
MTCU on October 28th.
Successful applicants will be contacted the week of
November 21st.
Successful applicants will be asked to come sign their
agreements by November 25th.
All other applicants will be informed of their
outcome the same week via mail.
Program officially begins on November 28th.
Timeline
If desired, candidates not selected can
arrange for a feedback meeting.
Please be reminded you should return to an
employment specialist to explore other options that
might be available to you
THE FEEDBACK MEETING WILL
NOT CHANGE THE OUTCOME
OF YOUR APPLICATION
Next Steps…
• If you are EI eligible please complete the Ministry
of Training, Colleges and Universities package
(brown envelope) as per the instructions in the
envelope.
•Prepare YMCA application package.
• Selection of candidates.
MTCU Contact:
Kathleen Fairnie
Ministry of Training, Colleges
and Universities
(613) 731-7100 ext 6212
Kathleen.fairnie@ontario.ca
Agenda:
•What is the O.S.E.B. program?
•How do I qualify?
•What are my obligations?
•What kind of businesses do not qualify?
•What kind of financial assistance?
•How do I fill out the application?
Ontario Self-Employment Benefits
The OSEB Program provides
entrepreneurial skills development support
to approved participants to help them
develop and implement their business plan
and become self employed.
It allows participants to concentrate on
building a sustainable business by providing
them with financial assistance while they
receive business advice and support.
Ontario Self-Employment Benefits
Eligibility criteria
• Unemployed
• On EI benefits
• Reachback – have received benefits
in past 3 years
• Have had a parental or maternity claim
established in the last 5 Years.
Ontario Self-Employment Benefits
Sustainability Requirements
An individual must meet the following criteria:
•
•
•
•
•
Requires business support
Does not possess a professional designation (medical
doctor, lawyer, chartered accountant etc.)
Proposes a business where there are no laws or
regulations that impede the individual from starting it
Possesses product or service knowledge and skills
related to the proposed business activity
Possesses the certification or qualification, if required
under law or regulation, to perform the proposed
business activity
Ontario Self-Employment Benefits
Sustainability Requirements
An individual must meet the following criteria:
•
•
Business concept as presented is considered to be
feasible
Individual provides evidence of a minimum of 25%
equity (cash and/or in-kind) to contribute to the
business; and if the business concept indicates the
need for further business financing/investment, the
individual must demonstrate the ability to access the
business funds required
Ontario Self-Employment Benefits
Ineligible Business Activities
•
•
Any activity that involves, in the opinion of the
Ministry, sexual exploitation, illegal activity, the
production of materials that promote hate,
discrimination or illegal activity, otherwise promoting
hate, discrimination or illegal activity, proselytizing of
a particular religious or political opinion
Partnerships or corporations with less than majority
ownership
Ontario Self-Employment Benefits
Ineligible Business Activities
•
•
•
•
•
Business that is partially or entirely based on
commission and dependant on a parent company
(e.g. real estate agents, insurance brokers, Mary Kay)
Franchise
Home-based daycare
Not for profit organization
Part-time business
Ontario Self-Employment Benefits
Eligible Business Activities
•
•
A new business or an existing business in which the
individual had no prior ownership; and
A business that is suitable for public funding in the
opinion of the Ministry. It may be:
•
•
•
Seasonal in nature (the participant must devote all
efforts full-time to the development and
implementation of the business plan for the duration
of the agreement. The participant may be engaged in
more than one full-time seasonal activity within the
agreement timeframe
Home-based
A hobby converted into a business
Ontario Self-Employment Benefits
Eligible Business Activities
Eligible business structures:
• Sole proprietorship
• Partnership
• Corporation
Ontario Self-Employment Benefits
What are my obligations?
•
•
•
Start a new business or purchase an existing business
(no prior ownership or completed business plan)
Be able to contribute equity (cash or in kind) to the
proposed business. The minimum contribution is
calculated at 25% of the benefit you would receive if
accepted to the program ($4,442)
Devote a minimum of 35 hours per week towards the
development of your business plan and then to the
implementation of the business plan once approved
Ontario Self-Employment Benefits
What are my obligations?
•
•
•
•
•
Attend seminars, workshops and follow the
instructions as set out by the program
Report monthly on your progress including sales,
expenses, hours worked and a narrative
Limit part-time work outside of the business to 15
hours per week
Respond to a mid-term questionnaire and a follow up
questionnaire distributed by the Ministry
Respect the written agreements signed with the
Ministry and with the Y Enterprise Center
Ontario Self-Employment Benefits
Financial Assistance
•
•
$423.00 per week for a maximum of 42 weeks.
Financial assistance provided is to cover basic
living expenses while participating in the OSEB
program. It must not be used for business
investment purposes.
Ontario Self-Employment Benefits
Financial Assistance
•
•
•
If you are accepted to the program and are receiving EI
in the amount of $423 per week or more, you will
continue to receive EI until it is exhausted and then the
ministry will start issue the payments for $423 per
week
If you are accepted to the program and are receiving EI
in the amount of less than $423 per week, you will
continue to receive your EI plus a “top up” to $423 by
the ministry until your EI is exhausted. The ministry
will then pay the full $423 per week.
If you are accepted to the program and are not
receiving EI, the ministry will pay $423 per week from
the start date of the program.
Ontario Self-Employment Benefits
Business income will not be
deducted from your benefits.
Ontario Self-Employment Benefits
Remember…
•
While you are on E.I., you have an
obligation to be available and looking for
employment.
•
The process of applying for the program
does not exclude you from that
requirement.
Ontario Self-Employment Benefits
Things to consider…
•
•
•
•
•
•
Is this the right time to start a business?
Do I have the support of family and friends?
Do I have a viable business idea?
Do I possess the product or service knowledge
and skills related to the business idea?
Do I need additional certification or
qualifications to perform the business?
Do I meet the qualification criteria?
Ontario Self-Employment Benefits
How do I fill out the application?
•
The electronic version of the application can be
found at the following web address:
http://www.tcu.gov.on.ca/eng/eopg/publications/89-1743e-osebapplication.pdf
•
•
Section A
Please answer all of the questions in Section A.
This is basic information about yourself.
Section B
Please answer all of the questions in Section B.
These questions assist us to establish your
eligibility.
Ontario Self-Employment Benefits
How do I fill out the application?
Section C - Suitability
•
Please note that the OSEB Eligibility and Suitability
Assessment Template for OSEB Coordinators will be
completed by the Y Enterprise Center and forwarded
separately.
Section D – Financial Assessment
•
You are only required to fill in this section if you are
requesting supplementary assistance (dependant care
or Disability needs)
Ontario Self-Employment Benefits
How do I fill out the application?
Section E – Child or Spousal Support
Obligations
•
•
Please answer the questions.
If you do have spousal or child support and you answer
yes to all three of the questions in this section, please
keep in mind that the financial support provided
through this program are subject to garnish.
Ontario Self-Employment Benefits
How do I fill out the application?
Section F
•
•
•
The plan to return to work or Employment Service
Plan will be obtained from your ES Service Provider.
The OSEB Eligibility and Suitability Assessment
Template for OSEB Coordinators will be obtained from
the Y Enterprise Centre as well as the letter of support
or non-support
You will be contacted if there is a concern about
Environmental Issues to fill in the questionnaire.
Ontario Self-Employment Benefits
Acceptable evidence of personal
investment
•
•
•
•
Current bank statement showing at least the minimum investment in
a bank account belonging to the individual;
Evidence of a loan of at least the minimum investment from a bank or
other financial institution;
Evidence that an overdraft facility or line of credit of at least the
minimum investment has been formally accepted and is available
through a bank account or joint account;
In-kind contribution including non-monetary items or resources for
the business that an individual can contribute or obtain, and proof of
ownership and/or a signed statement showing ownership of
equipment or materials to be used in the business and a reasonable
estimate of their value from a legitimate source.
Ontario Self-Employment Benefits
Last but not least…
•
•
•
•
Please be certain to sign and date your
application
Don’t forget to include your resume, a summary
of your business concept, and your evidence of
personal investment with your application
I will be here personally on October 17th to
receive your applications
I look forward to seeing you there!
Ontario Self-Employment Benefits
The completed application package must be submitted in
person:
Thursday, October 17th, 2011
YMCA-YWCA
180 Argyle, 3rd floor
1:oo pm to 3:00 pm only
Application review & interviews will
be held from October 18th to October 26th only.
All candidates that apply will be interviewed
Incomplete applications will not be granted an interview, no
extensions will be given
Ontario Self-Employment Benefits
QUESTIONS?