[1]From the Accelerate Okanagan [1] blog [2]: The “Business Clinic” service for Okanagan technology companies has officially launched. This free service forms part of Accelerate Okanagan’s offering for entrepreneurs and technology companies looking to start, accelerate and grow [3]. Priority access to the clinics will be given to program clients [3] and member companies [4] of Accelerate Okanagan.
The inaugural Legal Business Clinic was presented July 4 by Pushor Mitchell Lawyers. The first Financial Business Clinic took place July 8 with BDO Dunwoody. Accelerate Okanagan’s Business Clinic initiative is designed to offer access to expertise for growth companies through “drop-in clinics” delivered by partners, who are professional service providers offering free expert advice and guidance on specific legal, financial and HR challenges faced by technology companies and entrepreneurs.
On the financial side, some of these challenges might include:
- Business structure and related reporting and tax implications
- Business plan preparation and the financial components
- Understanding financial statements: Balance sheet; Income statement; Cash flow statement; Retained earnings
- Chart of Accounts
- Forecasting
- Budgeting
- Bringing in investors
- Shareholder loans
- Compensation: Salary vs. Dividends
- Equipment: Buy vs. lease.
On the legal side, they could include:
- Basic Legal Issues and Documents for Early Stage Ventures
- Incorporation
- Corporate Due Diligence
- Confidentiality, Non-Circumvention and Protection of Corporate Interests Agreements
- Organizing and Structuring your Venture
- Beta and End User Licensing
- Licensing Considerations
- Software Support Agreements
- Intellectual Property
- Disclaimer Information
- Exit Strategy Requirements.
Together with access to in-house Entrepreneurs-in-Residence, Business Clinics form part of Accelerate Okanagan’s overall Expert Service [5] that provides support to technology companies from experienced, successful business professionals who work hands-on with entrepreneurs to share advice, solve problems, and assist clients identify and overcome hurdles to growth.
Professional services firms that have signed on to deliver Business Clinics include:
Law firms – Pushor Mitchell [6] and Farris, Vaughn, Wills & Murphy [7]
Financial services firms – BDO Dunwoody [8], Grant Thornton [9] and KPMG [10]
HR firms – Smithson Employment Law [11] and Love HR [12].
All of these service provider partners join Accelerate Okanagan in their commitment to assisting entrepreneurs grow and achieve their full potential. For further information about this service, please visit the Accelerate Okanagan website [1] or contact Martin [13] at 250.870.9028. To schedule your participation at a financial, legal or HR Business Clinic, contact Kathryn at 250.870.9028.