| Community Futures East Interlake |
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2 Satellite Offices to Serve You!
CFEI is proud to announce the opening of our 2nd satellite office. You can find us in Stonewall at the RM of Rockwood Office on the 4th Wednesday of every month. Another satellite office is located in Teulon at the Town of Teulon Office, on the 2nd Friday of every month.
Our satellite offices can provide business counseling services and community development project assistance during the satellite office hours of 9:00 am - 4:00 pm by appointment, or any other time by appointment. Call our office at 1-800-378-5106 ext. 1 to make an appointment.
The CFEI staff and board are committed to serving our entire region and see these satellite offices as another excellent service to offer our communities. We are looking forward to having a visible presence in our communities and offering improved services to our clients.
Stonewall Office - 4th Wednesday of every month
RM of Rockwood Office
285 Main Street
Stonewall, Manitoba
Teulon Office - 2nd Friday of every month
Town of Teulon Office
44-4th Avenue SE
Teulon, Manitoba
Please contact Carla to make an appointment: (800) 378-5106 ext. 1
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Business Succession Planning
What Affects You When a Business is Sold?
Succession planning is "the process of deciding how and when management, ownership and/or control of a business will be transferred to subsequent owners."
Business succession planning involves planning for the smooth transition and continued success of the business. The plan will greatly depend on the availability of competent people to buy and to run the operation. One of most common concerns is that there may be no succesor to drive the business once the owner leaves.
Statistics show that 4 out of 5 business owners plan to exit their business in the next 10 - 15 years with almost half of these exiting in the next 5 years.
Why should you care? As a community member, this means essential businesses may be lost in your community if there are no buyers. As a business owner, competition for people to buy your business may be fierce.
There are many things you, as a community or a business, may do to mediate the situation, but you must act fast as statistics show we don't have much time.
The first step for business owners and communities is to be aware of the situation and to have a plan.
What Businesses Need to Consider:
- Are you considering transfering the business to a family member?
- Do you have an employee who may be interested in purchasing the business?
- How will you advertise the sale?
- Will you be willing to do a "vendor take-back mortgage"? ie: owner offers to lend funds th the buyer to help finance the purchase of the property.
- What are the tax implications of selling your business?
- Have you built your operation as an investment - do the business records show profitibility for the past 5 years?
- Are your records and income reported accurately (giving the buyer and financing institution a clear business picture)?
- Does your business have a clear vision and a trained management team?
- What training is provided? How long are you willing to train the new owner?
What Communities Need to Consider:
- Do you have a database of businesses in your community?
- Which business owners are looking to retire?
- Is your community "business-ready"?
- How will you attract people to your community who may buy businesses up for sale?
- Does your community offer entrepreneurship training?
- What alternative solutions could work for your community? For example: Can you create a community cooperative to keep a needed business in your region? Can you work with existing business owners to help them find solutions in selling their business?
These are just some of the things to consider when planning your community or your business's future. The time is now! There are many people to assist you when looking at your succession plan, including accountants, lawyers, business valuators and brokers. Start with CFEI. We can help guide you, your business and your community. It's never too early to start!
To get started, call or e-mail Tammy or Jim:
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2008 Provincial CF Conference
Change-Choice-Challenge
Community Futures East Interlake recently hosted the annual Provincial CF Conference in Gimli.
Highlighting board, project and business development with over 14 sessions and workshops to choose from, the conference was a unique opportunity for the leaders of our communities to partake in training and networking, usually only available in much larger centres. Many delegates attended the various entertaining tours showcasing some of the region's most thriving local organizations who consistently exhibit innovation in industry, business and community development.
Attended by over 140 people from across the prairies, the conference was highly successful and vastly lucrative, bringing in well over $100,000 to our region and local businesses. Sincere thanks to our delegates, board members, volunteers and speakers for making our event a resounding success! |
Community Projects
Is Your Community Project Looking for Funding?
Community Futures East Interlake Inc and the Interlake Development Corporation have teamed up to create the East Interlake Community Development Project Support Initiative.
This program offers an additional source of funding in the form of a grant for small community-based projects that will have significant and positive impact on job creation and growth of economic activity within our region.
These are some of the projects that have received funding during the first two phases of the initiative:
Balmoral Recreation Centre
Giving the Rec Centre a much needed face-lift, improving infrastructure and reducing energy consumption are the priorities of this project. A coffee shop will provide work placement and skill development for a minimum of 3 students.
Teulon Outdoor Stage
This project envisions a 30'x38' stage in Teulon's Green Acres Park that will have a partial roof, change rooms and storage. It will provide a location for numerous events for regional arts and cultural groups, schools and service groups.
Time to Play - Archie Gray & Helen Montgomery Playground Improvement Project
These two Stonewall parks with accompanying playgrounds are centerpieces to the town's redeveloped residential area and will serve to provide a safe place in the community for outdoor activities.
Arborg Aquatic Centre
Born from a 2003 survey identifying the great importance of a water facility to the community, the centre will offer various programs for people of all ages. It will include several water slides, a large play area and lap-swimming lanes.
This project involves over 60 community volunteers and a number of full-time jobs will be created. The center is scheduled to open July 1, 2009.
Stay tuned for announcements of the next intake date for funding.
If your community is looking for additional funding, please e-mail Ian, CFEI's Community Economic Development Coordinator, or call him at (800) 378-5106 ext 6. | |
March Video Conferences
Free Business Seminars & Training:
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Mar 3 |
10:00-12:00 |
Business Communicating - Writing for Professionals |
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Mar 5 |
15:00-17:00 |
Business Success Strategies |
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Mar 6 |
12:00-13:00 |
Canadian Business Etiquette for Immigrant Entrepreneurs |
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Mar 9 |
09:00-11:00 |
Things to Know Before Starting your Small Business Website |
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Mar 11 |
10:30-12:00 |
Introduction to PST |
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12:30-15:30 |
GST Workshop |
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Mar 12 |
09:00-16:30 |
CRA - Payroll Information Seminar |
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Mar 13 |
10:00-12:00 |
Networking in Canada for Immigrant Entrepreneurs |
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Mar 16 |
14:00-16:00 |
Online Social and Business Networking 101 |
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Mar 17 |
10:00-12:00 |
So You Want to Start a Not-For-Profit |
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Mar 18 |
10:00-12:00 |
How To: Social Enterprise |
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Mar 19 |
10:00-12:00 |
Providing Service to Customers with Disabilities |
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15:00-17:00 |
Trade Show Selling |
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Mar 20 |
10:00-12:00 |
Creating an Inclusive Workforce |
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15:00-17:00 |
Surviving When a Big Box Store Comes to Town |
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Mar 23 |
09:00-11:00 |
Google Pay-Per-Click (PPC) Marketing Basics |
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Mar 24 |
10:00-13:00 |
CRA - Small Business Tax Information Workshop |
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Mar 24 |
14:00-16:00 |
The Basics of Exporting |
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Mar 26 |
16:00-18:00 |
Starting a Business in Manitoba |
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Mar 27 |
11:00-13:00 |
Financial Fitness for Self Employed Arts Entrepreneurs |
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Mar 30 |
09:00-11:00 |
Google Pay-Per-Click Marketing - Advanced |
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Mar 31 |
15:00-17:00 |
Finding your Competitive Advantage & Using It | Seminars are all FREE! They are offered at the Riverton office. For more information and recent updates, check out our webpage. Dates & times are subject to change. To register, please e-mail or call the office: (800) 378-5106 ext. 1. |
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Youth Micro Loan Program
CFEI offers a new opportunity for students in the region wishing to start up a new business. Loans of up to $4000.00 are available to full-time students enrolled in high school, community college or university.
These loans are offered at reduced interest rates. Even better, if these loans are paid back in full and on time, the entrepreneur will have an opportunity to recieve a regular loan through CFEI at this same reduced rate, provided the loan is disbursed within one year of graduation.
To find out if you're eligible, click here for the application or check out our webpage. For further information call Jim at CFEI. (800) 378-5106 ext. 2. | |
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to Claudia Krawchuk and Chris Toomey on the birth of their son, Carter.
Best wishes from all of us!
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| Community Futures East Interlake Inc
Box 10, 12 Main Street North
Riverton, Manitoba
R0C 2R0
(800) 378-5106
fax: (204) 378-5192
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