CBDC Blue Water

Frequently Asked Questions

What does CBDC Blue Water do?

CBDC Blue Water provides small business loans, general business advice, consultation programs, and a host of other supports for entrepreneurs seeking to start or grow their own business in rural Halifax Regional Municipality.

How are CBDCs different from banks?

While banks and credit unions are important and have a key role to play in business development, CBDCs operate quite differently.

  • CBDCs have the ability to spend more time providing advice and assistance to entrepreneurs.
  • CBDCs have a mandate to help businesses start, grow, and remain competitive in today's marketplace. Although our loan interest rates are priced competitively, we do not compete with banks and credit unions.
  • When people apply for a business loan, we place much emphasis on the character of the applicant, and the merit of the business. (More information below.)
  • CBDCs are also more flexible during the repayment process, particularly with seasonal options. CBDCs allow you to make lump sum payments or to pay your loan off at any point through the terms of the loan without penalty.

What type of business should I start?

Most businesses are developed because of a personal hobby or passion. At CBDC Blue Water we do not provide business ideas, we provide advice and training in relation to your idea. A very good point to remember, you as the business owner will not only work within your business 40-50 hrs. per week, but you will also need to carve out time to work on your business (marketing, bookkeeping, etc.)

How do I start a business?

The first step in any business start-up or expansion is the development of your business plan – putting your idea and the development of your idea on paper. You should also complete 2 years of financial projections (revenues and expenses) which should be done month by month.

Will the CBDC write my business plan?

A CBDC will not write your business plan for you, but they will help you learn how to develop one, and provide the appropriate tools and resources.

I already have a business plan, what is next?

Once you have a business plan in place, start working towards launching your small business.  Have someone else read your plan to ensure you are not missing important details. Have the reader ask questions about your business, so you are sure you have thought it through.

How do I register my business and in what form should I register?

Business registration is done at Access Nova Scotia. They will first search your business name in Atlantic Canada or Canada (your choice). You must decide what form of business you want to register.

  • Sole proprietor: You are the sole owner; you and the business are considered one.  
  • Partnership: You are going into business with at least one other person, you and that person are one with the business.  
  • Incorporation: Your business becomes it’s own entity, you are either an employee of the company and/or a shareholder of the company.
  • Cooperatives: Is a legal structure you can choose for your business or non-profit.
  • Social Enterprises: Operate as non-profits with the purpose of addressing social, economic or environmental concerns.

What type of funding does CBDC Blue Water offer?

CBDC Blue Water offers a variety of loan programs to a large variety of industries. We work with the client to ensure we offer the best loan program suited to their business needs.

Do you have a guide for starting a business in Rural HRM?

Yes we do! Essential Guide to Starting a New Business in Rural HRM. Download your guide here

I am buying a business, anything I should taking into consideration?

Yes! When buying a business, there are some essential things that you need to take into consideration. Download your complete Guide Here

Can’t find the answer you’re searching for?

Reach out to a Business Development Officer for clarification.