愛污传媒

Toronto's Karla Briones was enjoying a successful career in public relations. Not yet 30, she was "living the life" in the heart of the city where she and her husband had their own place, even dabbling in real estate by flipping properties.

But then they decided to give it all up.

She quit her job. They sold their home. And together, they decided to head to Ottawa to start up a business in pet foods.

"I got my eureka moment when I saw (my PR) clients in the pet industry ... I thought, 'No, I want to be the client. I want to be the boss,'" she says, recalling the moment she decided to start up her own business.

Although the idea came to her back in 2007, Briones says it's been a long journey from that initial "eureka moment" to seeing the final touches being put on Global Pet Foods, an organic health foods store for pets. She says her desire to become a franchisee wasn't made any easier by the economic downturn that hit last fall.

After spending months researching their industry, creating their business proposal, and getting their franchisee license, they hit a wall when it came to financing.

"It's been a nightmare. I still get chills when I think about that. It only got resolved last week," she told CTV.ca in early February from her parents' home in Ottawa, where she and her husband moved with their 10-month-old baby girl to save money.

Brione's plight isn't unlike those of other Canadian entrepreneurs trying to open a business during a recession. Experts say that while an economic downturn can pose opportunities, the timing also presents many risks and obstacles.

Crisis and opportunity

"More businesses are actually started during a recession than up times because people are usually not thinking about change during good times," says small business adviser Peter Forint of Wardell Professional Development.

A recession presents "danger plus opportunity," he says.

"Someone once said, a crisis is a terrible thing to waste. So, if you're someone in mid-career and you're getting a sizable package to leave -- it (could) give a lot of people a chance to say, 'you know what I could go into business for myself.'"

But Forint cautions that potential entrepreneurs shouldn't jump at the first opportunity that may present itself. And he adds, good research is fundamental to finding out if a particular venture is even viable.

"Potentially, if you're well-positioned and well-financed it's an opportune time to jump in. It's also a good time to buy a business. If you find one where there's viability, then you could negotiate a good deal," says Patrick Pardoe, a managing partner at BDC, a Crown corporation that advises and helps finance Canadian businesses.

But he says economically challenging times require sound business acumen.

"You have to have the pencil really sharpened in this environment," he says.

"There are (opportunities) that are out there. But you better have the expertise and you better have deep pockets or the ability to access financing in one form or another."

The expertise required will be more than just knowledge of a particular industry, he says.

"It's not the technical expertise, it's the business management expertise. That's key," Pardoe says.

Long-term financing

He adds potential entrepreneurs will also need to secure funding that may have to last for a couple of years before the business begins to show significant returns. This is where knowing the system and good research will pay off, says Christianne Paris, vice president of client and business strategy at RBC.

She offers this advice to budding entrepreneurs seeking loans during the current economic times.

• Go see the bank that knows you, open a business account and get a business credit card and a small line of credit.
• Because the bank will evaluate personal credit, business owners should find out their credit history and make sure there are no errors.
• Those without a credit history should establish one.
• Get all legal documentation for the potential business, such as articles of incorporation, and make sure potential partners are at meetings with the financial institution.
• Have a well-researched business plan.

Also, don't jump into the business world alone, advises Erin Kelly of the Ottawa Chamber of Commerce, noting that getting information from a mentor or someone who has familiarity with starting up and running a business could determine if a business succeeds or fails.

Help is available for potential entrepreneurs from all levels of government, including at the federal government's Canada Business services website. Kelly points out organizations like hers also help budding entrepreneurs through workshops and other events.

"Our biggest advice to people is to go out and network. Find out where businesses meet in your city because through networking you'll meet people who have capital to invest" and information to share, she says.

Briones says she has had good mentoring, so she's followed much of the advice that experts offer. But she's careful to add that the recession could make even the most viable business ventures an uphill climb. But with just weeks to go before she opens the door to her pet foods store, she says her tough battle to fulfill her dream has been worth it.

"Now it's starting to get fun. The financial part was a headache. Now the ball gets rolling," she says.