Small business owners and executives must ensure they have reliable project management in place before investing in new initiatives. Being prepared with a strategic plan, as well as the managerial resources to execute the project, is integral to the success of any business activity. Especially in an increasingly globalized market, businesses must invest, innovate, and compete like never before.
But businesses can only grow by establishing a proactive plan, assessing risks, and maintaining stable cash flow throughout the project’s duration. To achieve this growth, businesses should first start by constructing a budget that includes their projects’ expenses. With this information, business owners, executives, and project managers can easily identify if they are running short on project funding, thus putting their project in jeopardy.
Canadian small businesses may begin their project plan, budget, and find funding with the following resource:
DOWNLOAD FUNDING CALCULATOR: By outlining your business’ strategic investments over the next 1-3 years, this budgeting schedule will identify your opportunities to receive Canadian business funding. How much could your business receive in government grants and loans? Download this resource now.
New Resource: The Project Expense Planning & Funding Calculator
By accessing this free planning document, business leaders will become empowered to make more intelligent business investments. In three steps, business owners can develop a basic yet effective budget that identifies potential Canadian government grants and loans that can be used to offset the cost of their project.
Step 1: Identify Your Business’ Characteristics
Small business grants and loans often require basic qualifications to be met, such as number of employees on payroll or if the business exports products. By providing context to your business, the Strategic Investment Opportunity Schedule will be able to calculate your funding potential with greater accuracy.
Step 2: Identify Project Expenses for up to 3 Years
Using this functional, ready-to-use template, business owners will be able to quickly enter their project’s budget. Identifying four main project expenses, including research and development, capital investment, hiring and training, and business expansion costs will help to further identify the ability for your business to receive funding. This will be presented as a percentage of project costs and a maximum obtainable value.
Step 3: Save the Document to Identify Small Business Funding
Finally, save the document and the information entered during steps 1 and 2 will populate new cells that identify your project’s strategic investment opportunity. With this information, business owners and executives can choose from a variety of next steps to receive this funding. After completing the document, businesses will be able to instantly begin building a proactive funding plan.
Discover Your Potential for Small Business Grants and Loans
To simply and effectively determine your potential for government grants and loans, download the Project Expense Planning & Funding Calculator. Planning future project spends will help keep the project on track and could even help to offset expenses. Learn about your strategic investment opportunity today; access this resource.