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Alberta Women Entrepreneurs (AWE)

Fall 2011 

There are many options when it comes to financing your business. Creating the right mix between equity and debt financing is specific to the needs of each individual business. Traditional sources include the banks, credit unions, government funded lenders such as the Business Development Bank & Alberta Women Entrepreneurs and government sponsored programs such as the Canada Small Business Financing Program.

When creating your financing strategy, consider non-traditional sources. These include your landlord, key suppliers, and also shareholders, through shareholder loans. The advantage of these non-traditional sources is that they have a direct link to your business and to your success. If you have a good relationship with your lenders, creative deals can be made that can help provide you with a source of financing and ease the burden of high cash flow requirements in the early stages of your business. The important thing is to ensure you align on the expectations of the relationship and create the proper documentation to provide flexibility of options.

Financing, is but one of the four legs of a table. The other three, equally as important, are strategy, structure and culture. With one of the legs missing, the table simply doesn't work. So, an entrepreneur understands that the key to a successful business is about having a great business plan and flawless execution. In order to achieve that, the entrepreneur must keep an eye on their strategy and ensure the structure, processes and culture they have created enables flawless execution of their plan.  

For more financial advice join me and Lisa Gallant of Checkone2 Enterprises Inc. as we co-present this November's Building on Success Workshop - The Keys to Financial Success.  

Do you have an accurate picture of your business' finances? Learn how to make the best decisions for your business based on key financial performance indicators and how to manage your cash to reach your company's goals.

Calgary Monday November 7th - Register Now
Edmonton Tuesday November 8th - Register Now 

Tracey Scarlett, chief executive officer of Alberta Women Entrepreneurs (AWE), listens to a panel discussion at the APEC Women and the Economy Summit in San Francisco, California, U.S., on Thursday, Sept. 15, 2011.

The four-day conference, sponsored by the Asia-Pacific Economic Cooperation organization, draws some of the top women in business and government from the U.S. and Pacific Rim nations.

Photographer: David Paul Morris/Bloomberg via Getty Images - source.