This is a summary of the ideas discussed during the meeting. Follow the links to join the on-line discussions.

As it became harder to obtain credit in the current economic downturn, small businesses are looking at alternative ways to finance their operations:

• Improving the cash-flow:
  
  • Cost control
  • Deposits and advance payments from clients
  • Vendor credit and longer payment terms
    
  • Better stock management
  • Factoring - convert your accounts receivable into cash, sooner
    
• Tax credits and subsidies:
  
  • scientific research and experimental development (SR&ED) tax credit
  • wage subsidies for new hires
  • start-up assistance for EI eligible individuals
• Special loans
  
  • Small business loans backed by the federal government
  • BDC
    
  • CYBF financing for young entrepreneurs
    

Various credit products are also available from the banks. Good credit rating for you and your business always helps.