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Business Advice, Business Planning

13 Home Based Businesses You Can Start

There are many home based business ideas for Canadians that regular people can take advantage of.

We’ve taken some time to browse home based business ideas ourselves to see what is really out there and what is being recommended. And shockingly, there is a lot – but the problem is most of the ideas being offered require you to spend a ton of money to get started.

Get Funding Potential For The 13 Businesses

So we’ve compiled a list of actual and profitable home based business ideas which Canadians can take advantage of with very little to no money down.

Starting a Home Based Small Business

When thinking of which of the home based business ideas for Canadians we’ve listed below to chose from, think about the following:

  • What do you like to do?
  • How much time do you have to dedicate?
  • Is this really right for you?
  • Do you have funds to allocate to the business?

These are the simple questions that will help you pick the right home based business idea for you.

When starting a home based small business, don’t think it’s any easier or faster to “make money”. Just because you’re not having to spend money on small business startup costs like a brick and mortar business would, you will have to invest more time and effort into a home based business.

Top Home Based Business Ideas for Entrepreneurs

The below home based business ideas are put together by collecting information of what current Canadians are doing across Canada to make a business worth while. Some of the business ideas may not be right for you but if any of them are done right, profitability awaits.

When starting any small business, home based or not – the first thing after opting the business idea to go with would be to create a business plan for your idea. This will tell you a lot about the business, will show you how viable the business could be, the costs associated and of course it will help you start your search for funding, perhaps from government funding sources.

Idea #1: Start a blog

Starting a blog about an interesting subject which the attracts an audience could lead to some great success and turn into a viable home based business idea.

Certain ways to make money from your blog include advertising, selling goods and services on the website and having a large following, building an e-mail list and using it for promotional incentives to make money

To start a blog business your startup cost could be under $100.

See how much funding you can get for starting a blog.

Idea #2: Sell products online

Selling online these days is pretty easy. You can do it directly on your website, through social media and pretty much anywhere.

It’s important to find the products which you can sell. Do some research, figure out the costs (for you to buy) and hesitate profits after selling.

An alternative way is to use a drop shipping service where you as the seller never touch the product, so you end up keeping more of the money.

A typical online shop can be set up with a little bit of work, time and under $100.

See how much funding you can get for selling online.

Idea #3: Renting our your space

Services such as Airbnb are a great way to make some extra money by renting out your property if you own it. Sometimes you can rent out a room or two, or even the entire home and make money while you’re home or away.

You can take a look here to get an idea of what you may be able to make with Airbnb when you’re out.

While it’s not a “home based business idea” fully, it is a way to make money from home and potentially turn it into a business.

Just think about it. If you can make $500 per month from your home, perhaps you can get your friends and family in on it, start to manage their listings, take a cut! There is a business for you.

See how much funding you can get for renting your space.

Idea #4: Driving for Uber/Lyft/Skip the Dish/Uber Eats

If you have a drivers license and a newer car, a home based business idea for Canadians and often one that many take on is driving people around or delivering food.

With companies such as Uber, Lyft, Skip the Dish or Uber Eats, you can make yourself some money and turn it into a business.

Many opt to register with as many companies as possible to get the most benefit out of it.

Just recently here at CanadaStartups.org, a member of ours discussed this with out experts and showed over a $120,000 a year income from doing exactly this.

See how much funding you can get via these types of driving services

Idea #4: Freelance Writing

There is big demand for quality content on the web and many companies will hire freelance writers to write content on various industries.

Depending on the industry and the agreed upon contract, a typical freelance writer can make anywhere between $20 to $200 per article they write.

See how much funding you can get as a freelancer.

Idea #5: Thrift Store and Garage Sale Resellers

Have you ever walked into a thrift store and noticed a bunch of stuff – all under $10 (most of the time a dollar or two)? Or have you visited a garage sale and noticed somebody selling a really cool piece of furniture for pretty much free?

Well, as a home based business idea, many people take that stuff and re-sell it online. And often make a large profit.

Think about it. You can buy a coffee table for $5 to $25 dollars and clean it up and resell it for $50 to $100.

See how much funding you can get for becoming a thrifty reseller.

Idea #6: eBay, Etsy, Amazon, Kijiji

These are a few popular websites with a large reach (large audience and following). Through these websites, you will find a ton of people selling and buying random stuff.

Just figure out what you want to sell and get started.

See how much funding you can get for getting into sales online.

Idea #7: Become a Home Inspector

A great idea to turn your free time from home into a business is to become a home inspector.

Home prices are going up which gives home buyers more reason to have their homes inspected prior to buying a home.

Turning this into a business is easy, all you need to do is get the certificate and learn how to become a home inspector. You can learn more here.

See how much funding you can get in this lucrative high-demand business

Idea #8: Become a Tutor

Sure you have to be a bit smart, but if you chose the right topic you can tutor kids and even adults of all ages on a variety of topics.

Math, English, Science, History, Computers, Business, Video Games? Anything really.

Create a website, get some social media presence going, start to promote and charge by the hour, or a flat fee!

See how much funding you can get as a tutor.

Idea #9: Christmas Decorations Business

During the Christmas season which starts early November and ends after the New Year, the decoration business is booming.

Hanging Christmas lights, decorating the front of homes, the trees..etc is a big business.

It’s hard work to be out in the cold, to have to climb a roof, but if you can do it for people, you can charge a ton.

This type of home based business idea let’s you make a ton of money in just 2 months!

See how much funding you can get for a seasonal style business.

Idea #10: Mobile Oil Changes and Car Washes

While it may require a bit more work and some knowledge, you can turn your passion for oil changes into a business.

Most people don’t have time to wait at a local oil shop for a hour or sometimes more to have their oil changed on their vehicle and this is where you fit in and visit their home to get the job done. The same idea goes for car washes.

A low startup cost that can turn to high profitability.

See how much funding you can get for a mobile automotive style service.

Idea #11: Starting a home based daycare

If you love kids and know how to interact and take care of them, a business of starting a day care could be your next big move to make some money while at home.

Depending on your location, a day care can make between $100 to $500 per week per child per week.

See how much funding you can get a daycare (2024-HUGE Demand).

Idea #12: Starting a photography business

Most people are experts at taking pictures these days. And you can turn this into a valid business idea which you can do from home.

Start a home based photo studio or book trips to see your customers in the field.

Sure you need a camera and come equipment, but a simple photo shoot for a family of 4 can cost up to $500 if not more.

See how much funding you can get for equipment and setting up the business.

Idea #13: Open your own cleaning business

Cleaning businesses can make a lot of money.

Start by getting the equipment you need (cost is minimal), and move on to finding residential and commercial clients.

Many of those in this industry report earnings at minimum of a few thousand dollars per month when active and those more involved have reported earnings of $10,000 and more.

These home based business ideas for Canadians are just a few (13) out of many that are potential to turn into a profitable small business.

When starting a small business in Canada always keep in mind that a business plan is the first step.

See how much funding you can get for a cleaning service.

Business Advice, Business Planning

Unlocking the Grant Guide in Northwest Territories

As an entrepreneur or small business owner in the Northwest Territories, it’s essential to be aware of the various small business grants available through the government. This guide provides comprehensive details about the government grants you can access for your business in the Northwest Territories.

Small business grants in the Northwest Territories are well-categorized and organized, making it easier for you to locate and successfully apply for a grant. Understanding where to find information about these grants, their utilization, the amount available, and the application process is crucial.

The available small business grants in the Northwest Territories encompass a wide range of sectors, including environmental, agricultural, economic growth, technology advancement, arts, as well as grants tailored for businesses owned by individuals with disabilities and women.

Download the 2024 Northwest Territories Grants Guide

Northwest Territories Small Business Grants

The Northwest Territories government offers several small business grant programs. These grants usually originate from local funding agencies focusing on the economic growth of the Northwest Territories. However, many grant options are also available from the territorial government and the federal government of Canada, providing a broader range of business grant opportunities.

Types of Small Business Grants

The small business grants available are diverse:

  1. One-Time and Renewable Business Grants: These are aimed at covering various startup or expansion costs. Given the increasing costs of starting a business in the Northwest Territories, these grants can be highly beneficial.
  2. Partial Contribution Grants: These grants require you to contribute a portion of the funding, working somewhat like a partnership.
  3. Non-Repayable Government Grants: These grants, as the name suggests, do not require repayment.

Read the guide to learn more about these types of government grants.

Other Funding Options

In addition to grants, small business owners in the Northwest Territories may be eligible for government loans, tax breaks, and tax credits.

Applying for Small Business Grants

To apply effectively for these grants, you should be well-prepared with:

  • A well-crafted business plan
  • Financial projections
  • A PitchDeck presentation
  • Knowledge of the relevant programs

Developing a Business Plan

A comprehensive business plan is vital. It should detail your business model, growth strategies, marketing plans, and specific funding needs. Business plan creation can be done from scratch, using templates, or with tools like the Business Plan Builder.

Financial Projections and PitchDeck

Financial projections for at least three years, including balance sheets, cash flow statements, and profit/loss statements, are essential. The PitchDeck, though not mandatory, is a valuable tool for summarizing your business model visually.

Knowing the Funding Programs

Understanding which funding programs to apply for can be challenging. The Funding Database offers a comprehensive list of over 1,500 different funding programs across the Northwest Territories and Canada. Consulting with funding experts can be beneficial in navigating these options.

How Much Funding Do You Need?

Determining the amount of funding you need is crucial. Consider your business plan and the expenses it outlines. The range of funding provided varies significantly, so a clear breakdown of your expenses is necessary when applying for grants.

Industry-Specific Funds

Funds are available across various industry categories, including mining, agriculture, manufacturing, technology, creative services, and more. It’s important to assess with funding experts whether the available options align with your business model.

What Can Grants Be Used For?

Small business grants can be used for hiring and training costs, purchasing equipment, improving cash flow, marketing, and more. Download the free grants guide PDF to review all potential expenses covered by these grants.

Understanding Eligibility

Determining your eligibility for a government grant can be straightforward if you know where to look. The grants guide for small businesses in the Northwest Territories will aid in this process.

Download the 2024 Northwest Territories Grants Guide to access all the information you need about government grants and funding options for your business.

Download the Northwest Territories Grants Guide

Funding

Can You Bag a Business Grant or Loan with Bad Credit?

An Exploration for Entrepreneurs in Northwest Territories

In the competitive world of business, a common stumbling block for aspiring entrepreneurs is a bad credit score. However, the dream of securing a grant or a loan is far from impossible, as Northwest Territories offers unique opportunities to help entrepreneurs overcome financial hurdles.

A bad credit score, which usually falls under 579 on a scale of 300-850, can limit access to resources and lead to higher loan fees and interest rates. But what if there is a viable business idea at stake? Can bad credit still hold back its potential?

When it comes to grants – free funds offered by government, corporate, or non-profit entities – a bad credit score might not be as significant a setback as perceived. Unlike loans, grants are awarded based on the merit of the business plan and its potential impact, not the entrepreneur’s financial history. While precise eligibility criteria may vary, a robust business plan and a clear demonstration of financial need can go a long way.

Northwest Territories hosts numerous regional and national grant programs. These initiatives are designed to support specific industries or demographics, and they often focus less on credit scores. Entrepreneurs are advised to tap into local business networks and use online grant databases to find the best fit for their venture.

However, the route to securing loans with a bad credit score is not as straightforward. Traditional lenders such as banks usually shy away from individuals with poor credit scores. One silver lining comes in the form of government-backed loan programs. These initiatives offer more lenient credit requirements and offer lower interest rates, which could provide a lifeline for businesses in their early stages.

Secured and collateral loans represent another option for those with low credit scores. These loans use assets as a guarantee, which can offer a safety net to lenders and increase the likelihood of loan approval.

While securing financing is crucial, it’s equally important for entrepreneurs to focus on improving their credit scores. Some practical strategies include reviewing credit reports for errors, making timely payments, reducing outstanding debts, and gradually building a positive credit history. Various credit counseling agencies and credit repair services in Northwest Territories are available to offer professional assistance.

However, for those who find the traditional funding path a tough climb, there are alternative routes to consider. Crowdfunding, partnerships, or seeking investment from friends and family are just a few options that don’t always hinge on a solid credit score.

Remember, in the realm of business, every hurdle can be turned into a stepping stone with the right approach. Despite a less-than-ideal credit score, entrepreneurs in Northwest Territories have the resources and opportunities at their disposal to turn their business dreams into reality. The road to success might be challenging, but it’s never entirely out of reach.

Take the first step towards success with our Small Business Startup Platform. Collaborate with our team of experts, utilize our powerful Business Plan Builder tool, and gain access to our Funding Database to secure government funding for your NWT-based business.

Funding

Being aware of deadlines or timelines when applying for government funding

In Northwest Territories, entrepreneurs can take advantage of various government funding programs to assist in their business endeavors. However, it’s essential to be aware of the deadlines and timelines associated with these funding opportunities to ensure you can secure financial support. This article aims to provide you with an in-depth understanding of the deadlines and timelines you should be aware of when applying for government funding in the Northwest Territories.

1. Application Periods and Deadlines:

Understand the timeframes for submitting your application

– Each government funding program has specific application periods during which you can submit your application. These periods often have set start and end dates.

– Missing the application deadline can result in your application being disqualified, so it’s crucial to be aware of these deadlines and plan your application submission accordingly.

– Research and stay up to date with the government funding programs you are interested in to ensure you submit your application within the designated application period.

2. Exploring Funding Opportunities:

Identify available funding programs and their timelines

– Research the various government funding programs available in Northwest Territories to identify those that align with your business objectives.

– Each funding program may have different timelines for their application periods, so pay close attention to the details of each program.

– Some funding programs may have multiple intakes throughout the year, while others may have a single annual deadline. Being aware of these timelines will help you plan your application submission effectively.

3. Gathering Required Documentation:

Understand the documents you’ll need to gather before applying

– Government funding applications typically require supporting documentation to assess your eligibility and the viability of your business idea.

– Common documents may include business plans, financial projections, market research, resumes, and references.

– Understand the specific requirements of each funding program and ensure you have all the necessary documents prepared before the application deadline.

– Gathering the required documentation will prevent last-minute scrambling and allow you to submit a complete and thorough application.

4. Review and Approval Process:

Familiarize yourself with the timeline for reviewing and approving applications

– After the application deadline, funding program administrators review the submitted applications to assess their eligibility and alignment with program objectives.

– The review and approval process can vary in duration depending on the complexity of the program and the number of applications received.

– It’s essential to be patient during this phase and understand that it may take some time for your application to be reviewed thoroughly.

– Stay informed about the expected review timelines provided by the funding program, as this will help manage your expectations and plan for the next steps of your business.

5. Funding Disbursement:

Be aware of the timelines for funding disbursement

– Once your application is approved and your business project is deemed eligible for funding, a disbursement timeline will be established.

– This timeline refers to the period during which you can expect to receive the funds.

– Funding disbursement timelines can vary depending on the funding program and the specific requirements associated with each program.

– It’s crucial to factor in this timeline when planning your business finances and to ensure you have enough working capital to cover expenses before receiving the funding.

6. Application Tracking and Communication:

Stay in touch with the funding program administrators

– Throughout the application and review process, it’s essential to stay in touch with the funding program administrators.

– Check the program’s website or contact the program administrator to inquire about the status of your application.

– Understanding the expected timeline for communication and tracking can help you avoid unnecessary stress and allow you to plan accordingly.

In Northwest Territories, government funding can offer valuable support to entrepreneurs starting a business. However, being aware of the deadlines and timelines associated with the funding programs is crucial for a successful application. Understanding the application periods, required documentation, review processes, funding disbursement timelines, and maintaining open communication with program administrators will help you navigate the government funding landscape and increase your chances of securing financial support. By using the NWT startup platform always be aware of the deadline, and follow our thorough step-by-step- timeline so your business is always in the loop about new trends. So, make sure to stay informed, plan, and take advantage of the opportunities available to turn your business dreams into reality.

Funding

Female Entrepreneur Grants in Northwest Territories: Empowering Women in Business

In the vast expanse of Canada’s Northwest Territories (NWT), a growing number of women are shaping the entrepreneurial landscape. These trailblazing women are contributing significantly to the territory’s economy and communities, but like any business, they need financial support to flourish. This article explores various grant opportunities in the NWT for female entrepreneurs and how they foster women’s empowerment in the business sector.

Content Overview:

Understanding the Role of CanNor in Empowering Female Entrepreneurs

Embracing Opportunities with the SEED Program

The Power of the Women’s Entrepreneurship Fund

Advantages of Community Futures’ Loans for Women

Exploring the Potential of the BDIC Support for Entrepreneurs

Tapping into Industry-specific Grants and Funding

How NWT Startups Experts can Help

Now let’s dive deeper into each of these topics.

Introduction to NWT Grants for Female Entrepreneurs

There are numerous grants available in the NWT designed to support female entrepreneurs in various sectors. These grants aim to close the gender gap in business, encouraging more women to establish businesses and help those already operating to expand. Grants offer non-repayable funds, which can significantly lower the financial risk associated with starting and growing a business.

Understanding the Role of CanNor in Empowering Female Entrepreneurs

The Canadian Northern Economic Development Agency (CanNor) plays a significant role in empowering female entrepreneurs in NWT. Through programs like the Northern Aboriginal Economic Opportunities Program (NAEOP) and the Women’s Entrepreneurship Strategy (WES), CanNor provides financial support for women-led businesses, particularly those owned by Indigenous women. These programs not only provide funding but also offer a variety of resources, training, and mentoring to ensure the success of these businesses.

Embracing Opportunities with the SEED Program

The Support for Entrepreneurs and Economic Development (SEED) Program, offered by the NWT’s Department of Industry, Tourism, and Investment, provides financial support to NWT residents looking to start or expand their businesses. While not exclusive to women, the program encourages applications from female entrepreneurs and offers several funding options based on the business type and stage.

The Power of the Women’s Entrepreneurship Fund

The Women’s Entrepreneurship Fund is a national initiative that offers up to $100,000 in non-repayable contribution funding to women-owned and led businesses. The program aims to support women entrepreneurs to grow their businesses and facilitate their pursuit of opportunities in markets abroad. Women in NWT are strongly encouraged to apply.

Advantages of Community Futures’ Loans for Women

While not a grant per se, the Community Futures’ loans program is worth mentioning. These loans offer lower-than-average interest rates and flexible repayment options, often making them more accessible for female entrepreneurs. Additionally, Community Futures provides business advice, workshops, and mentorship programs to help businesses succeed.

Exploring the Potential of the BDIC Support for Entrepreneurs

The Business Development and Investment Corporation (BDIC) in NWT offers several programs that can benefit female entrepreneurs. From the Subsidiary Financing program to the Business Intelligence and Networking program, BDIC provides financial and educational resources to help businesses thrive.

Tapping into Industry-specific Grants and Funding

Various industry-specific grants and funding options are also available for female entrepreneurs. Sectors such as tourism, agriculture, arts, and technology often have specific programs to promote growth and innovation. Female entrepreneurs in these sectors should explore these opportunities.

How NWT Startups Experts can Help

Finding and applying for the right grants can be a complex process. This is where NWT startup experts can assist. They can help identify suitable funding opportunities, assist with application processes, and provide advice on business growth strategies. These professionals have in-depth knowledge of the business environment and funding landscape in NWT, making them invaluable allies in your entrepreneurial journey.

The Future for Female Entrepreneurs in NWT

In conclusion, a range of funding options is available for female entrepreneurs in the Northwest Territories. Whether it’s through direct grants like those from Can Nor and the Women’s Entrepreneurship Fund, or indirect financial support through programs like the SEED Program or the BDIC’s initiatives, women have access to the financial resources they need to succeed.

Moreover, the assistance provided by NWT startup experts ensures that women not only secure funding but also receive the necessary support to make the most of these funds. They offer guidance, insights, and expertise to help navigate the complex business and funding landscapes in the NWT.

The future is bright for female entrepreneurs in the Northwest Territories. With these financial resources and professional support systems, women in business have the tools they need to succeed. It’s an exciting time as we witness more women taking their place in the entrepreneurial landscape, enriching the NWT’s economy and communities. This continued growth and empowerment of women in business is not just good for the Northwest Territories; it’s good for Canada and, indeed, the entire world.

Funding

How to Apply for Government Grants in Northwest Territories

It can be difficult to apply for government grants if you’ve never done it before.

However, there is no cause for alarm!

Here, you’ll find a step-by-step approach to securing the capital your company need for success.

To begin, you must determine which federal funding initiatives you qualify for.

If you own a business in Northwest Territories, you may qualify for one of the many grants and programs offered by the provincial government.

Spend some time researching the many business grants and programs offered by the provincial government of Northwest Territories to determine which ones are the greatest fit for your company’s needs.

Examples of popular sources of financing are:

Government Grants:

Money from the government is given to private companies, nonprofits, and individuals to assist them meet a specific need.

Research and development, extending into new markets, and product creation are all examples of such aims.

Applicants for government grants are usually evaluated on the basis of their demonstrated merit, or ability to benefit from the grant money.

The various grant categories are as follows:

Non repayable government grants are one of the most common types of grants available.

These grants are given to businesses or individuals without the expectation of repayment, meaning that you don’t have to pay the money back once you receive it.

There are a few different types of non repayable government grants, including:

Grants for small businesses:

Government grants are available to help new and existing small enterprises get off the ground.
These funds can be put toward a number of different endeavors, including the acquisition of new tools or the hire of additional staff.

Grants for research and development: Grants for research and development are offered to businesses that are looking to conduct innovative research and develop new products or services.

This type of grant can be used to cover the costs of conducting research, such as hiring consultants or purchasing lab equipment.

Grants for women entrepreneurs: Women business owners can apply for grants to help them get started or expand their businesses. These grants can be put toward a wide range of activities, including but not limited to the following: establishing a new company, increasing production capacity, or traveling to and participating in professional development seminars for business owners.

Grants for Indigenous entrepreneurs: Natives, Inuit, and Métis business owners who are just getting started or looking to expand their operations can apply for one of many available grants for Indigenous entrepreneurs. These grants can be put toward a wide range of activities, including but not limited to the following: establishing a new company, increasing production capacity, or traveling to and participating in professional development seminars for business owners.

In addition to these, there are startup grants, business expansion grants and skills training grants.

One time and renewable government grants are another type of grant that is available.

One time grants are typically awarded for a specific project or purpose, and are not renewable once they have been used up.

On the other hand, renewable grants are ongoing and can be used for a variety of purposes over an extended period of time.

The most common type of renewable grant is a operating grant, which is given to businesses on an annual basis to help cover the costs of running their business.

Partial contribution grants are another type of grant that is available.

Partial contribution grants are typically given to businesses or individuals who are unable to fully cover the costs of a project on their own.

The Northwest Territories government will partially fund the project, and the business or individual will be responsible for covering the rest of the costs.

Matching grants are another type of grant that is available.

Matching grants are typically given to businesses or individuals who are able to raise a certain amount of money on their own.

The Northwest Territories government will then match the funds that have been raised, and the business or individual will be responsible for covering the rest of the costs.

Government Loans

Loans from the government are essentially loans from the government to private companies or people.

These loans are preferred by businesses because their interest rates are cheaper than those offered by banks.

Several distinct varieties of federal loans exist, including:

Loans for small businesses: these financing options exist to help established enterprises with limited resources grow. New machinery or personnel are only two examples of how these loans might be put to good use.

Startup loans: Lending assistance is available for new firms in the form of startup loans.
Loans of this type might be put for things like business permits and first advertising costs.

Business expansion loans: Loans for business expansion are available for companies who want to grow their operations. These loans can be used to pay for everything from the lease on a larger office to the salaries of new employees.

Skills training loans: Skills training loans are offered to businesses that are looking to provide training for their employees. These loans can be used to cover the costs of training, such as hiring instructors or purchasing educational materials.

In addition to these, there are also loans for specific business sectors, such as agriculture, tourism, and manufacturing.

Remember that government loans can often come in the form of no interest, or low-interest options, as well as government-guaranteed loans.

Government loan programs typically have more flexible eligibility requirements than traditional bank loans, making them a more accessible option for businesses.

The next step

After determining which government funding options are right for, be it a government grant or a government loan it’s time to start preparing your application.

The most important part of your application will be your business plan.

This is your opportunity to sell the government on why your business is worth investing in. Make sure to include detailed information on your business model, target market, and financial projections. If you have any existing customers or clients, be sure to mention them as well!

A good tool to use to develop your business plan is the business plan builder tool. It is created to guide you step by step based on what Northwest Territories government funding agencies want to see.

Once you’ve assembled all of the required documentation, it’s time to submit your application.

The best way to do this is online, through the government’s official website. You’ll need to create an account and fill out all of the necessary information before you can submit your application.

As each funding program/application may have a different application method – be sure to work with an expert to get help with the process.

Applying for government grants can seem like a daunting task, but it doesn’t have to be! By following this simple guide, you’ll be well on your way to getting the funding your business needs to grow and succeed. good luck!

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