The Town of Sylvan Lake Business Startup Guide was developed as a collaborative project between The Town of Sylvan Lake, the Economic Development Community Advisory Committee with information and support from Alberta Business Link. The guide provides a one-stop resource for businesses within the community to attain information on how to start a business here in Sylvan Lake.

Town overview

Sylvan Lake is a vibrant lakeside community with a high quality of living that respects the environment, provides diverse economic opportunities, and values efficient, inclusive, and transparent government.

Sylvan Lakers are very proud of their community, and enjoy access to not only a world class recreation facility but also recreational activities that are unique to a lakeside community such as:

  • Winter polar bear dips;
  • Ice fishing;
  • Skating on our beautiful lake during the winter;
  • Year-round events, festivals, and fireworks shows;
  • Watery activities like paddle-boarding, kayaking, sailing, and even diving;
  • Beach volleyball;
  • And so much more!

Sylvan Lake is driven by community, open for business, and planning for sustainable growth.

  • Our population is 15,995, with a average age of 37;
  • Key industry sectors are tourism, professional scientific technical services, manufacturing, and oil and gas;
  • We’re a 17-minute drive west of Red Deer;
  • We receive an average of 760,000 visitors to our community, each summer;

The Town of Sylvan Lake sits at the centre of the Calgary-Edmonton Corridor, just 18 kms from Alberta’s third largest city, with access to an immediate trading area of over 313,000 people. Sylvan Lake is also just 90 minutes away from both of Alberta’s largest metropolitan centres, with a combined total population of just under 3 million people.

What is a business plan?

Writing a business plan is one of the most important and yet overlooked steps in starting a small business. Business plans help business owners:

●      Guide business activities

●      Get financing or investors

●      Plan for future growth

●      Identify strengths, weaknesses, opportunities, and threats

●      Track performance

●      Guide succession planning

Many start up business owners believe that business plans are only useful if the business requires them to gain access to financing. In fact, business plans are much more important than that. Business Plans are tools to aid in decision-making throughout the life of the business. They are living documents to help keep the business on track and focused on the most important things. A business plan should include at a minimum:

●      Executive Summary

●      Business Background

●      Industry/Market Analysis

●      Promotion/Marketing

●      Management

●      Operations

●      Environmental Issues

●      Financial Projections and Analysis

●      Risk and Mitigation

●      Opportunities for Growth

●      Exit Strategies

●      References

●      Appendices

Writing a business plan can sometimes feel like a daunting task. There are many resources out there to help you write a business plan – financial institutions, government agencies, local library, and other business service providers. Some service providers even have cloud-based business plan writing tools. Here are a two good choices to help get you started:

Here are just a few Small Business Resources for getting started:

Starting a Business in Alberta

Video:  Business Planning 

Video: Business Structure

Video: Steps to Starting a Business as an Indigenous Entrepreneur

Video: Market Research

Video: Marketing

Video: Finding Contract Opportunities as an Indigenous Business

Video:  Payroll 101

Video: Financial Management

Video:  GST Registration

Video: Taxation Year-End Filing for Businesses

Video:  Tax Liaison Officer Service

Video: The Four Pillars of Marketing

Video: The Secrets of Business Success in Retail

Video: The Secrets of Business Success with Joe Whitbread from Jo(e) Social Media

Additional Resources: https://albertacf.com/resources

Resources in French from Conseil de développement de économique de l’Alberta  https://lecdea.ca/

There are a variety of choices to review when considering how to structure your business. Sole proprietorships, partnerships, and corporations are the most common types of business structures. You can also choose to structure your business as a co-operative, social enterprise or non-profit. There are multiple steps required to get your business set up legally, not just registration of the business.

“Choosing a business structure is one of the first and most important decisions you will make as a business owner. Your business structure can have a big impact on your success: it will affect your taxation and legal liability, as well as succession planning when it comes time to close or sell your business.” Alberta Business Link

An overview of each type of business structure and step by step information on how each is set up can be found on the Business Link website.

Naming your business is a really important step and doing this step well can save you a lot of grief down the road. The government of Canada suggests the following three steps to follow when deciding on a business name:

 

1. Select a good name

  • Be sure it reflects the product or service you offer or you may confuse prospective customers
  • Think about how you want your business to be perceived
  • Pick something that is easy to pronounce and remember
  • Make it unique and distinctive to avoid confusion and legal issues

2. Find out if the name is taken

In most cases, if someone is already using a name, you cannot legally use it. By law, the name of your business can’t be the same as or very similar to an existing corporate name or trade-mark. Even when it is legal to use an existing business name, it can be a disastrous marketing mistake. There are a few places you should check to see whether a name is taken:

  • Search the internet
  • Search national name databases
  • Canadian corporate names and trademarks database (Nuans)

3. Register your business name

A solid business plan includes a solid financial plan. The purpose of a financial plan goes deeper than just being a tool to seek financing. A financial plan helps you determine things such as:

  • how much money you will need,
  • how much you will need to invest personally and,
  • how much you will need to borrow.

 

A financial plan also includes estimating the costs associated with inventory, leasehold improvements, assets, marketing and operating costs.

 

 

Business owners should look into financing before they require it. Financing typically takes weeks, if not months, to put in place from the date of application to the date of funding. It is recommended that prospective business owners spend time researching what is available to determine the best type of financing for your business.

 

Below are some examples of financing to consider.

  • Banks – Your personal bank can be a great place to start. During initial start-up stages often times financing for your business is contingent on your personal credit score and net worth. Bankers can provide trusted advice, an objective partner and banking solutions for your financing needs.
  • Alberta Treasury Branch (ATB) – ATB Financial was created more than 75 years ago, in the darkest days of the Great Depression, to serve Albertans. Today ATB offers a wide range of customer focused products and services to support businesses at every stage.
  • Alberta Women Entrepreneurs – Alberta Women Entrepreneurs offers loans of $30,000–$150,000 to Alberta women for start-ups, expansions, and business purchases.
  • Business Development Bank of Canada (BDC) BDC finances working capital to expand businesses and invest in technology. BDC also lends money to purchase commercial real estate, buy new or used equipment, and a variety of other business needs
  • Futurpreneur Canada – Futurpreneur Canada supports young entrepreneurs with up to $45,000 in financing, an expert business mentor for up to two years, and resources to help you plan, manage and grow your business.
  • Government Grants – There is often a misconception about government grants. The government does not give away free money. However, there are some programs available with specific mandates to improve the Canadian economy. These programs are restricted to certain industries and within certain areas of Canada. The Canada Business Network has an extensive list of regional and federal public funding opportunities in Canada.
  • Community Futures Central Alberta – Given the importance of small business to Canada’s changing economy, one of the primary focuses of the CFs is to foster entrepreneurial development by providing both financial and technical support to new and existing small businesses.

Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Information within this section was provided by IBC. For specific questions related to information in this section, please contact the IBC directly or reach out to your individual insurance provider.

Contact IBC Online

Insurance protects you from losses that may pose a significant threat to your business operations. A major loss to one organization may be a trivial loss to another. When selecting coverage, deductibles and policy limits, there are many factors to consider.

 

Key Types of Business Coverage

Every organization requires its own set of coverages. Common business policies include:

Establish Regular Communication with Your Insurance Representative

The more your insurance representative knows about your organization, the better prepared he or she is to advise you about changes in the marketplace, as well as the type and amount of insurance you need. By implementing risk management strategies you may be able to eliminate or mitigate key risks and save money on your premiums.

Be sure to periodically review your policies with your insurance representative. Over time, your organization may grow and your need for certain coverage may increase. Or, as your business evolves, you could find yourself paying for coverage that you no longer require.

Town of Sylvan Lake Requirements for Starting Your Business

Majority of businesses require a business license to operate in the Town of Sylvan Lake.  Those that are exempt are encouraged to courtesy register their business with the Town.  By licensing or courtesy registering your business with the Town, your business will be placed on the Website Business Directory at no cost.  Contact information will not be shared if you so choose.

There are multiple types of business licenses with the Town of Sylvan Lake.  The options below advise how to find which license applies to you.

  • Go to the Town’s website sylvanlake.ca where you can go to Business Licenses to review your options or you can use BizPal a program created by the Government of Alberta to search your business type.
  • Contact the Business Licensing Inspector by visiting the Municipal Government Building at 5012 48th Avenue, Sylvan Lake, telephone T 403 887 1185 Ext 282 or email bl@sylvanlake.ca

Business License applications that are found on the Town’s website under Business Licenses can be submitted through email, mail or in person.

 

Business License exemptions

  • Charitable organizations
  • Family day home
  • Home catalogue sales
  • Operators of a stall within a Farmers Market
  • A business that is operated by the Town of Sylvan Lake, or an official acting on the behalf of the Town of Sylvan Lake
  • Any business that is exempt under Provincial or Federal legislation

 

Before you sign a lease or buy a property, with the intent of starting a new business or moving an existing business, contact the Town’s Planning and Development staff. Why?

  • To check the current approved use of the property;
  • Advise you if a new development permit is required, and the timelines involved.

 

Business Directory

Anyone with an active business license can advertise their business for FREE on the Town’s website. Your Business Directory includes:

  • Logo and 3 pictures depicting your business
  • Description of the business/service
  • Contact information
  • Website
  • Social media accounts
  • Map of the location of the business

You are required to have a valid development permit before you can apply for a building permit to construct a building or structure, or to apply for a business license.

You may need a development permit if you are:

  • Constructing a new building;
  • Adding onto or renovating an existing building;
  • Demolishing an existing building;
  • Changing the use of a building;
  • Considering a cannabis retail store;
  • Putting up a sign; or
  • Installing an in-ground swimming pool or hot tub.

Apply for a development permit at our office, 5012 – 48 Avenue. Application requirements are outlined within each category below.

Doing Business with the Town

  • Purchasing of Goods and Services by the Town of Sylvan Lake is guided by the procurement policy and is a competitive process.
  • Procurement is guided by the Municipal Government Act (MGA) and interprovincial trade agreements, such as New West Partnership Trade Agreement.
  • The Chief Administrative Officer (CAO) has the authority for the procurement of goods and services for the municipality.
  • The Town Administration annually proposes a 3-year operating plan with Council approving the plan and current year budget in January of each year.
  • All procurement must be included in a budget approved by Council, or approved via Council motion, effectively amending the approved budget
  • Quotations are not required for good and services valued at less than $2,000.
  • Solicit a minimum of three (3) verbal quotations for goods and services valued between $2,000 and $5,000.
  • Solicit a minimum of three (3) written quotations for goods and services valued between $5,000 and $25,000.
  • Formal procurement of goods and services (RFP, RFQ, Tenders) estimated to be valued over $25,000 and under $75,000, the procurement must be advertised in the local paper and on the Town’s website for a minimum of two (2) consecutive weeks. (sylvanlake.bidsandtenders.ca)

Procurement Authority

  • The Chief Administrative Officer (CAO) has the authority for the procurement of goods and services for the municipality.
  • The Town Administration annually proposes a 3-year operating plan with Council approving the plan and current year budget in January of each year.
  • All procurement must be included in a budget approved by Council, or approved via Council motion, effectively amending the approved budget

Procurement Threshold

  • Quotations are not required for good and services valued at less than $2,000.
  • Solicit a minimum of three (3) verbal quotations for goods and services valued between $2,000 and $5,000.
  • Solicit a minimum of three (3) written quotations for goods and services valued between $5,000 and $25,000.
  • Formal procurement of goods and services (RFP, RFQ, Tenders) estimated to be valued over $25,000 and under $75,000, the procurement must be advertised in the local paper and on the Town’s website for a minimum of two (2) consecutive weeks. (sylvanlake.bidsandtenders.ca)

 

Agreements

Trade Agreements

  • The Province of Alberta is a participant in the New West Partnership Trade Agreement (NWPTA) with the western provinces and the territories.
  • NWPTA requires goods valued over $75,000 be advertised outside the local municipality where vendors from all provinces/territories involved in NWPTA can access the information and bid on the goods. The Town of Sylvan Lake uses Alberta Purchasing Connection (APC) and Sylvan Lake Bids & Tenders website: (sylvanlake.bidsandtenders.ca)
  • NWPTA requires that services valued at over $200,000 be advertised outside the local municipality where vendors/contractors from all provinces involved with NWPTA can access the information and bid on the services requested. The Town of Sylvan Lake uses APC and Sylvan Lake Bids & Tenders website for this requirement.
  • The Town posts invitations to bid on APC, but vendor has to submit proposals through Bids & Tenders website. (sylvanlake.bidsandtenders.ca
  • When the Town hires Prime contractors for projects, the Prime contractor is responsible for hiring sub-contractors.
  • The Town of Sylvan Lake may enter into agreements for the purchase of goods and/or services for a period of up to 3 years via a competitive bid process.
  • Examples are grass cutting, facility maintenance, and print media.

Agreements for Goods and Services

  • When the Town hires Prime contractors for projects, the Prime contractor is responsible for hiring sub-contractors.
  • The Town of Sylvan Lake may enter into agreements for the purchase of goods and/or services for a period of up to 3 years via a competitive bid process.
  • Examples are grass cutting, facility maintenance, and print media.

Contractor Requirements

The Town shall only procure services from contractors who have:

  • A valid WCB account, if required.
  • Liability insurance coverage appropriate to the service, minimum of $2 million.
  • A valid Town of Sylvan Lake Business License, if required.
  • A complete Town of Sylvan Lake Health & Safety Vendor Package to comply with OH&S legislation. (sylvanlake.ca/Health-safety)
  • Register with the Town – for the goods or services that you provide – for the opportunity to provide quotations throughout the year. Done in Dec/Jan, each year. (sylvanlake.ca/bids)
  • A business license, WCB coverage, appropriate liability insurance, and a health & safety vendor package is required to register.
  • Some goods or services require formal procurement (RFP, RFQ), and are not included in this process.
  • Anyone doing business in Sylvan Lake is required to have a business license (unless otherwise exempt).

Vendor Registration

  • Register with the Town – for the goods or services that you provide – for the opportunity to provide quotations throughout the year. Done in Dec/Jan, each year. (sylvanlake.ca/bids)
  • A business license, WCB coverage, appropriate liability insurance, and a health & safety vendor package is required to register.
  • Some goods or services require formal procurement (RFP, RFQ), and are not included in this process.
  • Anyone doing business in Sylvan Lake is required to have a business license (unless otherwise exempt).

Tourism Partnership Program

Sylvan Lake is brilliant all year and has so much to share with visitors in every season. Local tourism businesses are a big part of developing high quality visitor experiences that attract tourism and support our local economy. The Town of Sylvan Lake has tourism initiatives that aim to develop Sylvan Lake as a vibrant Alberta tourist destination. Local tourism businesses are invited to participate in the Tourism Industry Partnership Program and become a part of Sylvan Lake tourism initiatives.

Register Now!

  • The Partnership Program is an opportunity for local tourism businesses to be involved and actively participate in Town of Sylvan Lake tourism initiatives and strategies, collaborate, provide great visitor experiences, and be involved in the development of the destination.

     

    The Partnership Program is delivered by the Town’s tourism department and under the visitor services umbrella of Visit Sylvan Lake. Visit Sylvan Lake provides visitor information, operates a destination website at visitsylvanlake.ca and destination social media channels under the handle @visitsylvanlake.

     

    Participants in the Program must have a valid license with their jurisdiction and be operating in the tourism industry sector in Sylvan Lake. The program is free of cost to businesses within the Town of Sylvan Lake or $65 for tourism businesses located in Lacombe or Red Deer Counties. This annual Program will come into effect beginning in 2021.

Your business is a tourism business if visitors to Sylvan Lake represent a significant share of your customer base. If your business regularly interacts with visitors by providing them with goods and services that enhance their trip to Sylvan Lake, your business is operating in the tourism sector. Your business is invited to participate in the Tourism Industry Partnership Program!

Tourism businesses are invited to participate in the Program, however participation is completely optional. Program participants are invited to take part in any of the Program Features listed below. Make the most out of the Program by participating actively.

 

What is involved in the program? 2022 Program Features:

  • Find Opportunity
    • Get involved in Town of Sylvan Lake tourism initiatives: find a full listings of opportunities to be involved in Town of Sylvan Lake events, sponsorship and prizes, volunteer, host, and more
    • Submit your event to visitsylvanlake.ca: hosting an event of your own to attract visitors? Submit your event to be listed on Visit Sylvan Lake
    • Opt-in to marketing campaigns: Jump onboard marketing campaigns and be a part of collaborative promotions with campaign marketing resources
    • Inclusion on Referrals List: there are visitors and other organization looking for your business! When visitor services receives questions, they’ll be sent your way
    • Partner Directory: share contact information with other businesses that may be interested in opportunities for collaboration. A listing will be made available to all participants
  • Raise Your Business’ Profile
    • Business Profile on visitsylvanlake.ca: don’t just list your business on visitsylvanlake.ca, tell the story of the experience visitors can have in your business in a short write up with featured images.
    • Priority Access to Familiarization Tours: Share knowledge of your products and services with tourism department staff. Program participants will be given priority consideration when preparing itineraries and presentations. In-person visits are dependent on the evolving pandemic.
    • Get listed on the online visitor’s map on visitsylvanlake.ca: this interactive digital map will list tourism businesses, sites, attractions, and more with seasonal updates.
  • Grow your Business
    • Access tourism research, data, and resources: find information that could spark your next big idea, by creating experiences matched to visitor customer data
    • Free access to trainings and training resources: Learn, takeaway golden nuggets of information, and actionable items to help your business grow within the sector
  • Tell Us How You’re Doing
    • Seasonal surveys: share your first-hand knowledge and industry insights with destination development to better identify opportunities and challenges within the sector. What has tourism looked like from your business’ perspective?

Natasha Bhola

Tourism Marketing and Development Coordinator

T 403 887 2199 Ext. 527 | Email

Business Resources

Government of Alberta Links

Government of Canada Links

Youth Entrepreneurship

  • BDC Young Entrepreneur
    Business Development Bank of Canada’s entrepreneurship opportunities for youth
  • Futurpreneur Canada
    Assisting young entrepreneurs to get their ideas off the ground, Youth Business offers programs and services that allow them to achieve economic independence, develop self-confidence, and fulfill their goals of self-employment.

Indigenous Resources

Entrepreneurs with Disabilities

Business Name Search Links

Use these links to search the provincial and territorial databases:

General Resources