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Self Employment Benefits (SEB) ProgramSelf Employment Benefits (SEB) Program
Self Employment Benefits (SEB) Program
| What Is SEB? |
| Who Can Apply? |
| Application Process |
 |
Brantford Enterprise Brant Caledonia Grand Erie Business Centre Inc. Ingersoll Oxford Small Business Support Centre Inc. Oshweken Two Rivers Community Development Centre |
A Community Futures
Development Corporation
The Self Employment Benefits program is for unemployed entrepreneurs looking to start their own business. It provides business monitoring and mentorship for 52 weeks and financial assistance in the form of a taxable grant for up to 40 weeks to assist with personal living expenses during the first year of business.
| The NDBDC is contracted by The Ontario Ministry of Training, Colleges, and Universities (MTCU) to deliver the SEB program in Norfolk County. |  |
Who Can Apply
The SEB program is available to residents of Haldimand and Norfolk County who meet one of the following criteria:
- Unemployed and receiving Employment Insurance (EI) benefits;
- Unemployed and have received EI benefits within the past 3 years; or,
- Unemployed and have received EI maternity/paternity benefits within the past 5 years and remained out of the workforce.
Those who start the business before it is approved for the SEB program are not eligible to apply!
How To Get Started
1. Visit the Return to Work Action Centre
Located in the Simcoe Town Centre on West St. in Simcoe to investigate your employment options and suitability for self-employment. You will submit a form at the RTWAC that will be processed by MTCU to confirm your eligibility for the SEB program. RTWAC will notify you of your eligibility when it has been confirmed.
2. Attend an Orientation Session
The RTWAC will refer you to the "Starting A Business Seminar" at the NDBDC (428-2323) if you reside in Norfolk County. Orientation sessions are offered twice monthly in our office and deal with:
- Advantages and disadvantages of self-employment
- Details on the SEB program
- Developing a viable business plan, including cash flow forecast
- Sources of business information
- Small business financing
3. Complete the Business Concept Proposal
Upon completion of the orientation session, you will meet with staff at the NDBDC to transfer your idea to paper. Staff, in one-on-one meetings, will help you to assess the viability of your business idea. Time requirements vary, depending on the type of business proposed, the research needed and your previous experience. When you have completed the business concept proposal, staff will approve your for the SEB program and outline the schedule and deadlines for completion of your complete formal business plan.
4. Complete your Business Plan
Following the schedule outlined in your enrollment in the SEB program, you will complete your market research, competitive analysis, financial forecasts, etc. and prepare a formal business plan with the assistance of staff if needed (typically over 4 weeks). Once your business plan has been completed, it will be submitted to our SEB committee for a recommendation on your continued participation in the SEB program.
5. Attend the SEB Interview
Applicants are required to make a brief presentation to the SEB committee for evaluation of their formalized business idea. Based upon the 15-20 minute interview with the committee, members will analyze the viability of your business idea and make a recommendation regarding your continued participation in the SEB program. This recommendation is submitted to MTCU for final approval.
NOTE: At all stages of the SEB program, MTCU makes the ultimate decision as to your participation in the SEB program.
Participation in the SEB Program
Once approved to the SEB program, you will work closely with the staff of the NDBDC to implement your business plan. As part of the monthly monitoring meetings with staff, you will:
- Establish an efficient record keeping system, manual or computerized
- Meet monthly with staff to review progress and receive technical assistance as required
- Provide financial information each month on the business activity
- Attend monthly meetings of the Norfolk Small Business Club to discuss small business topics and network with other entrepreneurs. These meetings are open to the public and are highlighted in our Seminars or Calendar
| Copyright © 2004 Norfolk District Business Development Corporation - ndbdc@ndbdc.com |