The Nipissing Parry Sound Business Centre is looking to help area women help themselves get into business.
The Centre has two ways to do it: training and what is called a microloan.
April Phelps, who is in charge of the Microlending for Women program through the Business Centre, says the program starts with a 12 week training program on how to run a business.
“We go through the business plan section by section. There are opportunities for partnerships, for networking, for idea generation, brainstorming circles. We go over things like marketing, research, management, operation schedules, these types of things.”
April then acts as a liason between the new business owner and the funders, usually either Community Futures Development Corporation or North East Community Opportunities.
April’s role is to make sure all the questions the entrepreneur will be asked are answered before she meets the funders.
The next step is the microloan.
“A form of financing that is lower than a regular loan. For example, a minimum loan from a bank or financial institution is five thousand dollars. Microloans can go as low as one thousand”
The money is basically to get the woman started, paying for items like inventory, supplies, computers or printers, those startup costs any new business finds.
The program is designed for low income earning women that are looking to become entrepreneurs, even those who are currently working at a part time or minimum wage job.
Phelps says the idea is to enable the women to improve their situation, and move up in the working world.
“Often times we work minimum wage and we feel like we can’t get out because we have to work forty hours a week making 11 dollars an hour. That’s not a lot of money. But how do we make that time, how do we go and do something else. But this program is free, it’s Wednesday mornings, you can come, and be empowered to step forward and get yourself out of poverty.”
The program is ongoing until at least the end of April, with the next round of intakes set for December. More information is available through the Business Centre at City Hall, at 705-474-0400, extention 2441.
