Entrepreneurship

What is an Entrepreneur

Do you have a great innovative business idea that would earn money? Do you want to be your own boss?

Perhaps you should be an entrepreneur. An entrepreneur is someone who owns their own business. An entrepreneur works for him/herself and is responsible for making all decisions related to his/her particular business.

UNB Programs

MBA with Concentration in Entrepreneurship - There are a number of courses you can take to earn your concentration, from analyzing the market for opportunities, to generating ideas and creating a business plan, and finally to valuing and pitching your new venture to prospective investors. The entrepreneurship concentration program will help you with every aspect of your entrepreneurial desires.

International Business & Entrepreneurship Centre (IBEC) - A specialized centre housed within the University of New Brunswick's Faculty of Business Administration in Fredericton, New Brunswick. IBEC's main objective is to facilitate entrepreneurial endeavours amongst promising students through such methods as the Activator program.

Activator Program - Administered by the International Business and Entrepreneurship Centre (IBEC), Activator matches business students with entrepreneurs. You will act as team leader, providing advice to the entrepreneur and making a pitch on their behalf to a panel of professional investors.

J Herbert Smith Centre – Supports and promotes entrepreneurship through an undergraduate diploma program, and master’s program, a technology commercialization fund, pitch competition, and mentoring with industry professionals in entrepreneurship and design. Advice, education, and support for entrepreneurial students.

Diploma in Technology Management & Entrepreneurship – Learn essential skills in core business areas.  Although our program is part of the Faculty of Engineering, you do not have to be an engineering student to take TME courses. The DTME requires completion of five courses. If you are an undergraduate student, you can earn the diploma concurrent with your degree program by choosing TME courses as electives. If you are a working professional, you can take all five courses over two semesters or take the courses – taught mainly in the evenings – over an extended period of time. 

Masters in Technology Management & Entrepreneurship - "UNB’s Master of Technology Management and Entrepreneurship (MTME) program takes an experiential approach to learning; exactly what is required to help a new generation of managers and entrepreneurs get off to the right start in their careers. Ultimately it is more than an academic program. It is an environment where people are supported, empowered and encouraged to find their passion and reach their full potential. The program is built around today’s essential skills: creative problem solving, critical thinking, collaboration and communication. It will help students strike the right balance among people, planet and profits that will be essential for the leaders of tomorrow. A number of rising stars have already come out of the TME program. I’m looking forward to seeing the entrepreneurial leaders the MTME will help develop in the future."

- Gerry Pond, Co-Founder and Chairman of East Valley Ventures & Co-Founder of Mariner Partners Inc.

Business Plan

The first thing that you need to do is to do your research and create a business plan. A business plan is a document that outlines what you business will be, what is need to get started and continue to run your business (funding/loans, personnel, equipment, stock, overhead cost such as rent, water and electricity), research about your potential market and your marketing strategy, and estimates of what you think your budget will look like including what your estimated profits.

For tips on writing professional and effective business plans visit the following external links:

Enterprise Fredericton Business New Brunswick
Atlantic Canada Opportunities Agency (ACOA) Government of Canada
Mentors, Ventures & Plans Business Development Bank of Canada (BDC)

Registering a Business

All business must be registered with the provincial and federal government. Other permits/registrations may be required for your particular business as well. Always check with the two levels of government to determine what is required for your particular business.

Government of Canada Province of New Brunswick

Possible Sources of Funding

You must be willing to risk some of you own money, but there are a number of banks and agencies that assist entrepreneurs with the cost of starting and maintaining a small business whether it be through grants or loans.  Visit the external links below for a small sampling of possible sources of funding:

SEED Student Entrepreneurship Enterprise Fredericton
Small Business Finance Center Business New Brunswick
ACOA Community Business Development Corporations (CBDC)
Industry Canada Business Development Bank of Canada (BDC)
Canadian Youth Business Foundation

Networking Opportunities/Other Resources

A number of organizations exist to support entrepreneurs in their efforts and to assist them with training as well as other business issues that arise. By being active in your community you will see your business grow. Entrepreneurs should also consider joining associations that are directly related to their business.

Enterprise Fredericton Fredericton Chamber of Commerce
Business Fredericton North - Business After Hours Fredericton Region Young Professional & Entrepreneurs
UNB International Business & Entrepreneurship Centre (IBEC) Canadian Youth Business Foundation
Junior Achievement Canada ACOA
Government of Canada