Business Advisory

Metro Business Opportunities offers a wide range of business expertise and entrepreneurial advice to our clients and partners within the metro area.

Our Expertise

Access Our Advice

Business Advisory

Metro Business Opportunities offers practical, insightful, and essential business advice to entrepreneurs and partners in St. John's and Mount Pearl. The diverse and extensive experience of our Development Officers enables us to offer counselling for your specific business needs. Through working with MBO, clients can avail of a host of on-going entrepreneurial advice and support.

Idea Generation

The Metro Business Opportunities team have their fingers on the pulse of economic and business development in St. John's and Mount Pearl. From following and commenting on local business and economic trends, to matching an entrepreneur's skills to potential business ideas - MBO is poised to foster new business growth in the metro region

Business Plan Assessment

Our Development Officers support entrepreneurs by providing valuable feedback and commentary on their business plans, helping them craft a document that will guide their business to success. Through our helpful experience and advice, business plans will showcase the sustainability of the venture and become an attractive tool for accessing capital.

Competitive Analysis

Through the business plan assessment, MBO will review potential competitors, and determine if there is enough demand for another business to enter the market without negatively impacting existing operations. The Development Officer will also determine if the proposed business has the strength to compete with already established companies.

Business Skills Development

Our Development Officers can identify key business skill needs for individual entrepreneurs, and recommend upcoming workshops, seminars, and information sessions offered by MBO.

Access to Capital Financing

MBO staff can recommend financing options that make sense for your business. Metro Business Opportunities has several in-house loan programs that provide support for new and growing businesses. MBO clients also benefit from streamlined access to additional financing from our partners. Our Development Officers can also review different financial scenarios with clients, to determine what path is best for their business. For those requiring financing above what MBO offers, our helpful staff can send you in the right direction.

Access to Consultant Services

In addition to providing affordable access to consulting services, MBO reviews consultant proposals to ensure that they will identify specific challenges, deficiencies, and opportunities for the business or organization. At the end of the process, we ensure that our client is left with an actionable plan to achieve their goals.

Small Business and Entrepreneur Consultants

Metro Business Opportunities is the go-to consultant for the Newfoundland and Labrador government on small businesses and entrepreneurs. MBO runs the INSPIRE program for the Department of Advanced Education and Skills, providing counselling, assessment, and information to entrepreneurs in receipt of Provincial Income Support and to AES Client Services Officers.

#MBOadvisory

Advisory

Financing: Evaluating Options

When you are evaluating different financing options for your business, one key aspect to consider is the interest rate. Make sure you consider all available sources of financing and then compare interest rates, grace periods, repayment schedules, and monthly payments. This can help you head-off cash flow issues in the future.

Market Research: Where To Start

Market research will give you valuable insight into your target market and potential customers, allowing you to evaluate the market need, market size and competition. When starting the market research section of your business plan, you can request valuable market information from Canada Business Network and from the Economic Development unit with the City of St. John's. In addition to this secondary data, entrepreneurs should also gather quantitative data through methods such as customer surveys, and qualitatively data through focus groups and in-depth interviews.

Marketing: Networking

Does networking make you feel nervous? Put yourself in the mindset of a host to feel at ease! Ask others how they’re enjoying the event, why they came out, what they’ve learned…. you’ll be amazed at the confidence you feel and the natural conversations that flow!

Financing: Personal Equity

Contributing equity shows that you are personally vested in your business. Lack of personal equity is a red flag for lenders, who want to see that potential clients believe in their venture and are willing to invest their own personal finances to help the success of their business. If you’re lacking personal funds to invest into your business, consider MBO’s Impact loan program. As a government-backed loan, Impact is considered personal equity when other lenders evaluate your business for financing.

Solutions: Hiring a Consultant

Before working with a consultant, ensure you have a firm plan of action prior to signing a contract. All parties should know upfront the scope of work to be evaluated. You must also ensure that confidentially is discussed before, during, and at the conclusion of the project.

In order for an external consultant to fully understand your business, they must have a complete picture – the good, the bad, the financial issues, etc. Do not hide negative aspects of your business, as the consultant will need full knowledge for their work to be successful. Give them the freedom to discover the underlying issues in your business, so that they can use their skills and knowledge to help your face its challenges.