Government Financing Programs for Canadian Environmental Businesses

“Going green” is not just for residents who recycle. Many companies are taking proactive steps to develop and implement environmentally friendly business practices. The Canadian Government is fostering this atmosphere by providing numerous resources to not only help a business go green but to provide limited financing for entrepreneurs who are getting into the environmental business.

The go-to site for any small business should be the Canada Business Network. There is a wide range of government-backed loan guarantee agencies designed to help a small business that might be having difficulty securing a loan from other creditors. Among the agencies are:

Canada Small Business Financing Program: This is a program that can help a business owner secure up to $500,000 from an accredited lending institution by offering a loan guarantee. These loans are meant for direct improvements to a business such as purchasing equipment or property for the company. For these loans a small business is defined as any company making less than $5 million a year.

Eco-Financing: This program applies to businesses operating in Quebec who are associated with the environmental industry such as acquiring carbon credits, research and development for greenhouse gas reduction or acquiring offset credits.

Export Guarantee Program: If your business will be involved in export related activities or foreign investments then you could find a benefit of a loan guarantee from this agency.

Canadian Agricultural Loans Act Program: This is a loan guaranteed program that assists farming businesses in securing credit. It applies to start-up farmers or for a farmer taking over an existing business with a maximum loan guarantee of up to $500,000 that can be applied towards land purchase and construction.

There are also many funding and incentive programs being offered to Canadian businesses who adopt “green” technologies or practices. These include rebates for installing solar energy panels, and helping agriculture business produce their own renewable energy sources.

Additional resources offered by the Canadian Business Network are for environmental technology verification. This allows businesses to get any environmental system they are using to be certified. That will help the business secure those loans which are geared towards eco-friendly businesses. In other words, you might have to prove you’re eco-friendly before getting the loan.

The Energy Management Information Systems Planning Manual helps business owners audit their company’s use of energy. Armed with this information, a business owner can make adjustments in their energy use that could save them money in power costs.

The FleetSmart program offers incentives and resources for companies who want to switch their transportation fleets over to more fuel efficient models. In some cases, companies are making a complete switch to electric cars with the help of these incentive programs.

Bottom line: whether you want to make your business more eco-friendly or want to start an environmental related business from the ground up, the government of Canada is a terrific place to start.

How to Get More Referrals for Your Business

 

When it comes to your helping your business grow, it all boils down to who you know. And all that could be standing between your business succeeding or failing is your personal network. We’re talking about your professional network and the referrals which are the backbone of any productive small business sales force. Think of referrals as a chain between you and making a sale. The immediate referral might not be buying but that doesn’t mean it can’t lead to a referral that is in the market for what you’re selling. To increase sales you’ll need to increase referrals. Here’s how to accomplish that goal:

Ask and You Can Receive

Every satisfied customer you create is a new referral. Now you’ve got to “activate” that referral. Let that happy customer know you would appreciate their help with getting the word out about your business. Don’t assume everyone is talking about your company. Give them a little nudge and you might just be surprised with the results. You can take it a step further by asking directly for a contact of a friend or family member of that customer who would benefit from what you’re offering. The only shame would be in not asking.

Give and Take

You can get new referrals for your small business by sharing your referrals. This works best in a B2B market but it really amounts to you being proactive about expanding your customer base. If you have a supplier who is selling you a particular product for your business then you can spread the word of his company while he spreads the word of yours. Quid pro quo.

Offer Incentives

Two magic words that get everybody’s attention: finder’s fee. This is a very common practice all across the business world. When someone gives you a referral that buys from you, your referrer is rewarded in some fashion. Local cable and telephone companies use this practice. Sign up a friend and you’ll get a discount. How can you apply that to your business?

Offer Your Referrals First

Somebody has to “break the ice.” That could be you when you offer a referral to a customer or business associate for an item outside of your own company. This could get the ball rolling for a referral exchange.

Spread Your Name

If you have a storefront business then you should make sure every customer walks out with something that has your business name on it. Whether that’s a shopping bag, pen, coaster or magnet you’re spreading the name of your company. How can you do the same thing for an online business? If you post a fun video or photo make sure your web address is embedded on the image. Where ever that graphic goes is where your company name will go. You could hold a contest for the cutest puppy photo. It might have nothing to do with your business but those photos will be shared everywhere. Think outside of the box.

Drive Traffic To Your Site with Give Aways

Let’s face it; we all love to get free stuff. Whether it’s a T-shirt, a delicious dessert or advice - as long as it’s free, we’re going to be smiling. Now flip that around to the business who is handing out that free stuff and think about what they are getting in return. They are generating a lot of “smiles.” That’s a proactive stance towards building a more robust business and branding. Keep in mind that adopting this approach doesn’t mean you have to give away the store. Instead, you’re looking for ways to drive traffic to your site through enticements which can ultimately lead to other business.

By providing your customer with free advice, product or service, you’re ultimately building customer loyalty. You can create a blog which provides great advice on solving your customers’ pains. This makes you a resource, giving your prospects plenty of reasons to return to your site. This in turn could make them more inclined to follow your advertisers to their websites or purchase what you’re selling. Think of the “freebie” as the bait to hook a new customer.

Here are some more reasons why providing free stuff helps your business:

1)      Providing free stuff is good PR: News travels fast. By offering free stuff, your prospects will start talking about it amongst their friends and colleagues, helping you spread the message organically. People love to receive free stuff, and they’re more willing to take action if their friend recommends it to them.   

2)      You minimize risk for your prospects: When you offer a free trial period, a free e-book filled with great information, or even a free item, you are reducing the perceived risk in purchasing your product or service. By taking away the risk, you are providing your prospects with the opportunity to have a positive experience with your brand and make it easier to purchase later. 

3)      Build customer loyalty: Everyone loves to get something for free, especially when there are no strings attached.  Customers remember how they got something special and will associate it with your brand. This builds loyalty and positions your brand as someone that is always looking out for the customer. 

Free stuff doesn’t just have to be products or services. There are examples of donations, contests, free food and even a dream job!  Giving away free items or trial offers is a win-win strategy for both you and your customers. If done right, offering a free incentive will pay your company back in spades.

Strengthen Your Business Leadership Team

It doesn’t matter what type of business you’re in, strong leadership is essential to determine success. If you’re fortunate enough to have a great team working with you on your business goals then providing the model for leadership will become your responsibility. There are many effective “tools” you can use to strengthen the bond between the team and encourage your employees to step up as leaders. Consider the following:

Give credit where credit is due

Everyone loves praise! Don’t hesitate to tell others that they are doing a good job and you should acknowledge your team’s efforts when appropriate. But you should also be fostering an atmosphere of contribution from other staff members, those who are in the background and who might not yet be a “star.” When you encourage the free flow of ideas then you might discover a hidden gem among your leadership team.

Support the families

If your team members have family obligations, you should honor those by offering support. Is it really going to hurt business by letting a dad go watch his son’s soccer game or letting a mom attend a parent/teacher conference? Probably not. However, when you support the importance of your staff’s family then you’re acknowledging why they’re all working on the same team: to provide for that family. That is going to promote stronger loyalty and leadership.

Delegate responsibilities

As the saying goes, “Some men are born to greatness and others have greatness thrust upon them.” Translation: a leader can be born or made. You won’t have a chance to help your team strengthen their leadership skills unless you provide them with the opportunity to put them to the test. A strong leader often leads from behind and allows their staff to take charge.

Mentor

You might have a handful of strong leaders already working on your team. If so, then encourage them to seek out protégés they can mentor. Leadership skills work best when they are shared. Think of this is an on the job leadership training program, just a less formal one.

Formal leadership training

Speaking of leadership training, you could solicit outside help to strengthen your leadership team. That help can come in the form of qualified leadership trainers. These trainers will assess the needs of your company and set up a series of workshops and training exercises for your staff to participate in. This could mean a weekend retreat or a day lone seminar. In either case, you might be amazed at what can be revealed when your staff is taken out of their “comfort zone” and challenged to expand their own leadership qualities.

Use incentives

You might think that a weekly pay check for a job well done is enough incentive. In today’s tough job market that might be true. However, you shouldn’t discount offering some form of incentives for your staff if they can meet certain goals. Even something as simple as a paid company lunch away from the office can get employees fired up and working stronger as a team. When that happens, leaders will rise to the top and you’ll be able to cultivate them for future assignments.