Toronto Business Development Centre:
Twenty Years of Helping Entrepreneurs Succeed
Over the past 20 years, thousands of entrepreneurs have passed through the doors of the Toronto Business Development Centre. They all had one question in common: How do I make my business ideas become a success?
Today, many of those same entrepreneurs are profitably operating their own companies. Most would also recommend business incubation as a positive first step to business success.
"The most successful entrepreneurs seek out advice and support. They benefit from bouncing ideas off others who understand the challenges of business growth – people who can help them find the right solutions as their businesses start up and evolve," explains Michael Donahue, Business Development Manager at the Toronto Business Development Centre (TBDC). "That's what we do, in a formalized way. Our team helps new and emerging companies avoid pitfalls, accelerate growth and become viable operations."
The TBDC has been recognized nationally and internationally as a role model for business incubation.
It is a not-for-profit, multi-purpose incubator that offers support through its two Toronto locations to businesses across all sectors.
Entrepreneurs must apply to be accepted into TBDC's business incubation program. "We review each application to make sure the business idea is sound," says Donahue. "We talk to each entrepreneur to be sure they understand what business ownership entails and that they're committed and prepared to proceed."
If accepted as a client, the entrepreneur signs a flexible six-month renewable business incubation agreement and sets out the milestones s/he wants to achieve within those six months.
TBDC helps them reach those milestones. It offers a range of resources that the entrepreneur can tap into, including business plan review and development, targeted business advice, strategic business connections and office space. Clients also benefit from becoming part of a supportive entrepreneurial community where experiences and ideas are shared among fellow business owners. TBDC aims to "graduate" clients into their own stable and sustainable business within three years.
Since its establishment in 1990, TBDC has helped launch more than 4,500 enterprises.
"Most of our clients come to us with a business plan and business concept already prepared," says Donahue. "We help them delve into their ideas more deeply. We raise practical issues and encourage them to think in broader terms so they can make the decisions that allow them to build a successful company."
From his office at the Toronto Business Development Centre, Ronny Wiskin knows this system works well.
Building upon years of entrepreneurial experience as a home renovator, Wiskin founded
ReliAble Independent Living Services in 2004. The company specializes in providing products and services such as wheelchair ramps and barrier-free washrooms and kitchens so that people with mobility issues can remain in their homes.
"I approached TBDC to help me take my business to the next level," Wiskin explains. "My plan is to franchise my company across North America. To do this properly, I needed to develop a franchise model that would be attractive to potential partners as well as develop an in-depth training program."
Over the past two years, TDBC has helped Wiskin navigate these waters, and ReliAble Independent Living Service's first franchisee partner recently opened its doors in Halton Region.
"TBDC advisors provide me with guidance, contacts and the benefit of their experience," says Wiskin. "Perhaps the best lesson learned has been the importance of doing my own research. They don't provide ideas; rather, they set you on the right path to do the right research and grow into your own shoes."
TBDC has grown over the years too.
Alongside its original emphasis on business incubation, TBDC offers a wide range of entrepreneurial training programs. These include regularly-scheduled evening seminars for people who are considering starting a business or who are in the early stages of business growth.
TBDC delivers programs in partnership with the Ontario government. These include the
Ontario Self-Employment Benefit Program, which helps people who are unemployed start their own businesses, and the
Summer Company program, which is aimed at young entrepreneurs.
"We do see a growing culture of entrepreneurship, particularly in younger people," says Donahue. "Colleges, universities and high schools are all promoting entrepreneurship as a viable career option and there is a real and growing interest in exploring the opportunities that business ownership provides."
To help facilitate this interest, TBDC recently moved its city centre location to new premises at the foot of Yonge Street. TBDC occupies a full floor with business infrastructure to accommodate 45 entrepreneurs and to support the organization's entrepreneurial training needs.
The prestigious corporate setting was carefully chosen with the business-image of its incubation clients in mind, as well as to provide space to support TBDC's own plans for the future.
These plans include developing the New Opportunities Incubator — the first business incubator in North America dedicated to helping entrepreneurs with a disability develop and start their own businesses.
TBDC is also developing a business affiliate program for entrepreneurs who might already be operating out of their own facilities, but who want to take advantage of incubation support as they grow.
The range of businesses supported by TBDC incubation is diverse, with most companies operating within a service-based sector. Donahue observes that the most successful ventures have been started by people with a passion or a skill and a real desire to be able to work within it.
TBDC's list of successful graduates is a long and impressive one.
-
Chris Carder built Thindata into Canada's leading email service provider. The business grew to employ over 80 email marketing professionals and was later acquired by Canadian-owned powerhouse Transcontinental.
- Daniel Merizen came to TBDC with a desire to be a wholesaler of décor fabric and fashion accessories. Today, Onigo Imports operates from a 5,000-square-foot warehouse in downtown Toronto and employs four people.
- Lorice Haig has built Xenex Enterprises Inc. into a successful business solutions company that now employs seven full time staff. "The entrepreneurial spirit lives within the walls of that place."
Donahue points out that many former clients remain involved with TBDC and are eager to offer advice and support to new entrepreneurs.
"People want to help others," he says. "That's our goal too. When entrepreneurs graduate from our incubation program, their company has reached a point where it is flourishing, creating jobs and paying taxes. We are here to help entrepreneurs succeed."
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Toronto Business Development Centre:
Twenty Years of Helping Entrepreneurs Succeed
Today, many of those same entrepreneurs are profitably operating their own companies. Most would also recommend business incubation as a positive first step to business success.
"The most successful entrepreneurs seek out advice and support. They benefit from bouncing ideas off others who understand the challenges of business growth – people who can help them find the right solutions as their businesses start up and evolve," explains Michael Donahue, Business Development Manager at the Toronto Business Development Centre (TBDC). "That's what we do, in a formalized way. Our team helps new and emerging companies avoid pitfalls, accelerate growth and become viable operations."
The TBDC has been recognized nationally and internationally as a role model for business incubation.
It is a not-for-profit, multi-purpose incubator that offers support through its two Toronto locations to businesses across all sectors.
Entrepreneurs must apply to be accepted into TBDC's business incubation program. "We review each application to make sure the business idea is sound," says Donahue. "We talk to each entrepreneur to be sure they understand what business ownership entails and that they're committed and prepared to proceed."
If accepted as a client, the entrepreneur signs a flexible six-month renewable business incubation agreement and sets out the milestones s/he wants to achieve within those six months.
TBDC helps them reach those milestones. It offers a range of resources that the entrepreneur can tap into, including business plan review and development, targeted business advice, strategic business connections and office space. Clients also benefit from becoming part of a supportive entrepreneurial community where experiences and ideas are shared among fellow business owners. TBDC aims to "graduate" clients into their own stable and sustainable business within three years.
Since its establishment in 1990, TBDC has helped launch more than 4,500 enterprises.
"Most of our clients come to us with a business plan and business concept already prepared," says Donahue. "We help them delve into their ideas more deeply. We raise practical issues and encourage them to think in broader terms so they can make the decisions that allow them to build a successful company."
From his office at the Toronto Business Development Centre, Ronny Wiskin knows this system works well.
"I approached TBDC to help me take my business to the next level," Wiskin explains. "My plan is to franchise my company across North America. To do this properly, I needed to develop a franchise model that would be attractive to potential partners as well as develop an in-depth training program."
Over the past two years, TDBC has helped Wiskin navigate these waters, and ReliAble Independent Living Service's first franchisee partner recently opened its doors in Halton Region.
"TBDC advisors provide me with guidance, contacts and the benefit of their experience," says Wiskin. "Perhaps the best lesson learned has been the importance of doing my own research. They don't provide ideas; rather, they set you on the right path to do the right research and grow into your own shoes."
TBDC has grown over the years too.
Alongside its original emphasis on business incubation, TBDC offers a wide range of entrepreneurial training programs. These include regularly-scheduled evening seminars for people who are considering starting a business or who are in the early stages of business growth.
TBDC delivers programs in partnership with the Ontario government. These include the Ontario Self-Employment Benefit Program, which helps people who are unemployed start their own businesses, and the Summer Company program, which is aimed at young entrepreneurs.
"We do see a growing culture of entrepreneurship, particularly in younger people," says Donahue. "Colleges, universities and high schools are all promoting entrepreneurship as a viable career option and there is a real and growing interest in exploring the opportunities that business ownership provides."
To help facilitate this interest, TBDC recently moved its city centre location to new premises at the foot of Yonge Street. TBDC occupies a full floor with business infrastructure to accommodate 45 entrepreneurs and to support the organization's entrepreneurial training needs.
The prestigious corporate setting was carefully chosen with the business-image of its incubation clients in mind, as well as to provide space to support TBDC's own plans for the future.
These plans include developing the New Opportunities Incubator — the first business incubator in North America dedicated to helping entrepreneurs with a disability develop and start their own businesses.
TBDC is also developing a business affiliate program for entrepreneurs who might already be operating out of their own facilities, but who want to take advantage of incubation support as they grow.
The range of businesses supported by TBDC incubation is diverse, with most companies operating within a service-based sector. Donahue observes that the most successful ventures have been started by people with a passion or a skill and a real desire to be able to work within it.
TBDC's list of successful graduates is a long and impressive one.
"People want to help others," he says. "That's our goal too. When entrepreneurs graduate from our incubation program, their company has reached a point where it is flourishing, creating jobs and paying taxes. We are here to help entrepreneurs succeed."