information session
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INFORMATION SESSION. What is the BBI:. BBI is a Targeted Business Development Initiative. Created by the Federal and Provincial Governments to address the unique needs of the African Nova Scotians Business Community . Why BBI Was Created:. Lack of Business Skills - PowerPoint PPT PresentationTRANSCRIPT
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INFORMATION SESSION
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What is the BBI:• BBI is a Targeted Business Development Initiative
• Created by the Federal and Provincial Governments to address the unique needs of the African Nova Scotians Business Community.
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Why BBI Was Created:• Lack of Business
Skills• Weak Business
Culture• Discriminatory
Behavior
• Few Black Role Models
• Lack of Linkages to Broader Business Community
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BBI COMPOSITE GROUP OF COMPANIES
• Black Business Consulting (BBC) - including ADEPA
• Business is Jammin’ (BIJ)• Black Business Enterprise (BBE)• Black Business Community
Investment Fund (BBCIFL)
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TYPES OF SERVICES OFFERED• Client Training• Business Development• Business Support
• Counseling, Information• Networking
• Financial Assistance
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CLIENT TRAINING• Dedicated training department – Led by
Shakara Joseph, Director of Client Development.
• Offer a wide range of training opportunities related to business skills development such as:
• Writing For Business• Foundations For Success• Communication For Supervisor’s• Finance For Business
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CLIENT TRAININGOffer customized training:
• “Constructing the Future” A Construction Training and Job Readiness Program for the Unemployed and Under employed• Blueprint Reading• Bidding and Tendering• Construction Estimating• Energy Audits
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CLIENT TRAINING • Individualized Training• Single seat purchase• One on one counseling / consulting
• Group Training • Organized and hosted by BBI
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BUSINESS SUPPORT
• RBDM (Regional Business Development Manager)• Counseling, Navigators to
information and Mentorship• Networking
• Build partnerships and linkages to Business Community
• Committees and tradeshows
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FINANCIAL ASSISTANCE • Any new or existing Black N.S.
business. 33% Black Ownership• Proprietorship,Partnerships or
limited company• A viable business plan• An ability to repay loan• Suitable management strategy
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CONSIDERED LOANS:• Capital Equipment Acquisition
• Working Capital
• Short term receivable financing
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LOANS NOT CONSIDERED• Refinancing of existing loans or
obligations• Purchase of vehicles• Financial transactions between
related business or individuals• To finance a business similar to an
existing one owned by applicant or family
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LOANS NOT CONSIDERED (CONT…)• Those who have defaulted
previous BBI Loans• Residential and rental
accommodations• Financial and insurance agencies• Real estate and land development• Taverns, beverage rooms and
lounges• Any business activity deemed not
to be in the best interest of the community or province
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TERM LOAN
• 10% equity from client of total project cost
• First year interest free • Interest @ prime plus 1% • $25,000 maximum • Repayment terms vary • Requires board approval• $100 Administration Fee
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MICRO LOAN• $5,000 or less • Same conditions apply as
regular loan program• Requires only approval of micro
loan committee made up of CEO and two board members
• $100 Administration Fee
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FINANCING PARTNERS/OPTIONS• Community Business Development
Corp - C.B.D.C.• Business Development Bank - B.D.C.• Banks & Credit Unions• Centre for Entrepreneurship
Education and Development –CEED• Futurpreneur Canada (formerly CYBF)
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CONTACT INFORMATIONKerry Johnston, Regional Business Development Manager 426-6692 [email protected]
Njabulo Nkala, Regional Business Development Manager 426-4281 [email protected]
Rodger Smith, Regional Business Development Manager 426-7973 [email protected]
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ANY QUESTIONS….
Thank You!