Community Economic Development

Guidelines and Evaluation Criteria

The Purpose of the Business Planning Program

The objectives of the Business Planning Program are to support existing and potential businesses, entrepreneurs and not-for-profit organizations with financial assistance toward the development of sound business, marketing plans and/or product development plans and with the intention of advancing their business initiatives.

The Business Planning Program is intended to assist applicants to:

• Ensure that all aspects of their plan have been considered and properly investigated;
• Ensure that they have a clear understanding of all issues and potential problems;
• Raise their potential in gaining access to the required financing in a timely manner.

Eligible Recipients (must be located and conducting activities in Renfrew County)

• Non-profit organizations;
• Municipalities;
• Municipal organizations;
• Community development organizations;
• Associations;
• Legal commercial entities including individuals, corporations, partnerships, cooperatives or trusts;
• Aboriginal organizations

• Hiring an arms-length consultant who will provide assistance with the research, development and finalization of a business, export and/or marketing plan.
• Funding is to assist with the costs of an arms-length consultant to work with the business. Applicants are expected to use a selection process for their consultant that will ensure that the consultant is experienced, professional, and is recognized as providing high quality work.
• Applicants are expected to be highly involved in the business planning process in order to have a good understanding of the final plan.

Up to $2,500 can be made available to assist with the costs of an arms-length consultant.
Total assistance will not normally exceed 50% of the consultant’s cost, and will be based on demonstrated need.

Funding Criteria

All funds must be expended and business plans completed by March 1, 2009.

Application Process

Your proposal must be submitted to RCCFDC by Thursday, March 27, 2008 at 4:00 p.m. All applications must follow the format of the application form. Applications submitted after the deadline date are not eligible.

Applicants may discuss a potential application with Dana Jennings, Project Coordinator, Renfrew County Community Futures Development Corporation at 613.735.3951 ext. 226 prior to completing an application to ensure it fits the criteria and/or to examine other potential opportunities.

Approval Process

Receipt of an application by RCCFDC does not indicate a commitment for funding. All applications are reviewed by the Community and Strategic Planning Committee of the Renfrew County Community Futures Development Corporation and assessed according to the criteria outlined in the program guidelines. If the application is approved, RCCFDC will prepare a letter of agreement that will outline the terms and conditions of the funding.

Reporting and Monitoring

Successful applicant(s) will be required to report to RCCFDC on the progress of their projects, receive site visits from a program monitor and submit monthly and a final project report. These will be outlined in a letter of agreement for approved projects.

Payment of RCCFDC Contributions

Funds can be released to the business/association/organization at the end of each month. In order to receive payment, applicants must file a claim. The claim must include proof of payment to the consultant along with copies of cleared cheques attached to an invoice to RCCFDC on your business/association/organization’s letterhead requesting the dollar amount to be reimbursed.

Evaluation Criteria

The Application Review Committee will use the following criteria to evaluate the applications for funding:

• Are consultants at arms length and experienced, professional and recognized as providing high quality work?
• Can the business demonstrate that they have both the ability and resources to implement their proposal?
• Does the initiative involve research, development and finalization of a business, marketing and or product development plan?
• Does the applicant have a process in place to ensure the hiring of an arms-length consultant who is experienced, professional, and is recognized as providing high quality work?
• Has the applicant described how they will be highly involved in the business planning process in order to have a good understanding of the final plan?
• Has the applicant made a compelling case for the need for an outside consultant?