Having a great idea is the starting point for entrepreneurs but turning it into a success story is a huge challenge.

Cochrane Business Development has developed a program to assist entrepreneurs in reaching their end goal.

SMARTstart is an eight-month program designed to equip entrepreneurs with essential skills, valuable insights, and personalized mentoring to set their businesses on the path to success, explains Mike Korman, Cochrane's manager of Business Development.  

“Whether it's learning to launch an idea or navigating the first years of operating a business, SMARTstart supports entrepreneurs to learn valuable skills through learning, mentoring and plan creation.”

Statistics show that 50 per cent of businesses don't make it past their fifth year of operation.

"We want to launch them appropriately, so they have a better chance and a lot of that starts with the planning. That's what SMARTstart is really all about," says Korman. "It's about creating a business plan or strategic plan to move yourself forward and to think about all those things that you possibly need to think about when starting a business, so you're able to go forward with it in a solid fashion."

Through a series of seminars, sessions and workshops with local business leaders, participants will learn about the finer details of everything from marketing to taxes to legal issues.

"We pair them with the mentor and these mentors are local businesspeople that have gone through what they're going to go through as a founder and can give them solid business advice that is really well-needed when you're starting a business."

Applications are being accepted until Feb. 16. Sessions begin on Mar. 25 for the 10 applicants selected. It wraps up in December.

Those interested can apply at smartstartyourbusiness.ca/community/cochrane. The program fee is $300.

The program was first introduced in 2019 but was interrupted and abbreviated by the pandemic.

SMARTstart is also welcoming applicants from enthusiastic and experienced business owners each year.