Program Description

Are you interested in starting a business as means of employment? Do you have entrepreneurial skills to run a small business? If you said "yes" to the above questions, the New Venture program may be the program to help you start your business!

The New Venture program provides the knowledge and basis to reach self-employment goals. This program is intended for Employment Insurance eligible clients, although IS and other unemployed Albertans including persons with disabilities are encouraged to apply. The business may be established anywhere in our delivery area, which includes Brazeau County, Camrose, Drayton Valley, Red Deer, Rocky Mountain House, Olds, Wetaskiwin and surrounding areas. Candidates are required to have an idea for a new business and demonstrate a personal and financial commitment towards their new venture!

The program consists of 12 weeks of training and 14 weeks of guidance and counseling support to initiate a new business. There is 10 hours per week of in-class instruction and up to 10 hours of one-on-one consultation. Clients in the program will write a business plan and learn essential skills required to operate a business. Training topics include:

• Business Plan Development
• Finance
• Business Basic
• Marketing
• Market Research
• Accounting
• Computer Skills
• Operations
• Taxation

This program is offered free-of-charge to those who qualify. We will provide you with training materials and match you with a volunteer mentor from the community. Our business consultant will offer you support and encouragement throughout the program and monitor your progress. Our commitment is to help you reach your self-employment goals and become a successful entrepreneur!

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Commitment & Personal Equity Contribution Amounts

Candidates must:

• Be ready, willing and able (desire and motivation) to start their own business
• Work towards starting their business full time (minimum 30 hours per week) (Candidates with disabilities are an exception)
• Have a viable business idea for starting a new business or taking over an existing business where the candidate has not had prior ownership. Business must operate in our delivery area of Brazeau County, Camrose, Drayton Valley, Red Deer, Rocky Mountain House, Olds,  Wetaskiwin and the surrounding areas.
• Have sufficient cash or capital, or access to cash or capital to start the business.
• Demonstrate some form of personal commitment to business.

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Business ventures NOT ELIGIBLE for the New Venture Program

• A business started by the applicant prior to approval by the business consultant
• A business that is controlled by a person other than the applicant. Applicant must prove that they have 51% or more ownership in their business
• Businesses must not be subsidiary of or be financially supported by another company
• Businesses that will receive over 50% of revenue from commissions.
• Businesses that exploit sex, religion or politics
• Businesses that are only part time or seasonal in nature

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What’s In It For Me?

Benefits of the New Venture program

• Learn all business fundamentals essential to building a successful business
• Be matched with a volunteer mentor from my community
• Guidance and support throughout program length
• Learn from other entrepreneurs in the program
• Learn from qualified instructors

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Characteristics of Successful Entrepreneurs†

Researchers and experts suggest that entrepreneurs share a number of common characteristics. They have found that, on the whole, the entrepreneur:

• likes to compete
• is a self-starter
• is able to determine risk and has the courage to take risks but is not a gambler
• is independent and self-confident, yet knows when to get help 
• is able to do many things at once
• likes a challenge
• is creative, and has dreams and goals
• likes to work for him/herself and be in control
• hardworking and willing to stick with a project
• is not easily discouraged
• is in good health, has lots of energy and can handle stress
• has a strong sense of self-worth
• is motivated by a strong desire to achieve and attain financial success
• is a positive thinker who does not dwell on setbacks
• focuses his/her attention on the chances of success rather than the chances of failure
• often has a close friend or relative who owns a business
• is often a recent immigrant to North America (within two generations)

† - From the Canada Business Service Centres

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Business Information

Industry Canada (Strategis)

The Business Link

Western Economic Diversification

West Yellowhead Community Futures Development Corporation

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