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My name is Neil Prakash
my name is Yoko Kobayashi
and our company name is hk + np studio.
Well, the nature of our business is the
design and development of jewelry.
We both come from an architectural background
so our idea was that our jewelry should have some
sort of architectural feel to it.
Simple forms
and clean lines.
We applied for the Canadian Youth Business Foundation Loan
the loan amount that we applied for was $15,000.
To be eligible for the Canadian Youth Business Foundation Loan
we needed to be under the age of 34
and we needed to have started our company
within the previous year of applying.
The portions of the money that we have used so far
have gone towards the development of
the jewelry pieces
and towards the developing of the marketing side of our business.
So, we're putting some resources into website development,
business cards, packaging, that type of stuff.
The Canadian Youth Business Foundation Loan has helped us to succeed
in, I think, on a sort of more general level
it's given us a bit of confidence to move forward,
just knowing that we have a certain amount of backing
to be able to proceed.
And, of course, the other thing is the financing side of things
I mean, it's very difficult when starting up a company
to have all the funds in place to look after all of the different
needs of a starting company
because the start-up costs are usually
or the start-up phase of a company is probably
one of the more difficult phases of the company
and one of the more expensive phases of the company
so to have some assistance in that part of the process
was really important for us
to help our company move forward.
Most of the people have lots of good ideas
but, the problem is, just really doesn't have enough start-up finance.
My advice for people who are just starting a business
would be to first start with a business plan
to help develop their idea more fully
and with that business plan I would say to start approaching
different lenders, grant organizations
for financing.
That process is really quite helpful because what it does is
it gives important feedback to your company
of what's working with your business plan and what's not working with
your business plan
I think it helps give you a fuller understanding
of what your idea is
and where you need to, sort of, strengthen your business ideas
and where you're already strong
so it's an important part of the initial process.
The best part about owning your own business, in my mind, is
first of all, the sense of accomplishment that you feel when you start
off with an idea, and you start to see that it can
help support you in the future.
You feel that excitement and happiness over what you are doing -
that is the best
thing we've ever felt, so far, I guess.