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Starting or growing a business often requires funding—but where should you turn? For many entrepreneurs, grants and loans are two common sources of financial support. While both can help move your business forward, they come with different expectations and responsibilities. Understanding the key differences can help you make the best decision for your situation.
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Starting a business is one of the most exciting things you can do — but it also comes with risks, especially in those crucial early months. As a municipal small business advisor here in St. Thomas, Ontario, I’ve worked with many local entrepreneurs, and certain challenges come up again and again.
Whether you're selling coffee downtown, running an e-commerce store, or launching a mobile service, avoiding these five common mistakes can set you up for long-term success. Tracy Unrau of Abby Mae's Gluten-Free Bakery has been a baker her whole life, but when her husband was diagnosed with celiac around 2016, and her daughter was also diagnosed just a few months later, she realized her traditional baking would have to change. She had always made everything from scratch, and her family's new celiac diagnosis wasn’t about to change that – but it did mean she needed to start experimenting.
Starting or growing a small business takes more than a great idea — it often requires funding, mentorship, and access to the right support at the right time. Whether you're just getting started or looking to expand, there are a variety of grant and funding programs available to entrepreneurs in St. Thomas & Elgin County.
One of the first important decisions you’ll make as a new entrepreneur is choosing the legal structure of your business. The two most common options for small businesses are sole proprietorship and corporation. Each has its own benefits and considerations—so how do you know which one is right for you?
Let’s break it down. |