Whether you have a new business idea or are looking to expand, a new initiative is giving people the tools they need to succeed.
Today, the Downtown Timmins BIA launched Win This Space.
“Win This Space is a business recruitment initiative aimed at inspiring local entrepreneurs to start, open or substantially expand their business,” explained BIA president Jamie Roach.
The winner will receive a year's free rent at a downtown location, along with other prizes. So far, the grand prize pot is worth about $40,000.
The first phase of the contest — submitting a short video with the pitch — starts today and runs until March 25.
From those entries, the judges will narrow it down to 20 semi-finalists, said Downtown Timmins executive director Cindy Campbell. Those finalists must complete a series of three free business development workshops from the Business Enterprise Centre. After those sessions, the competition will be narrowed down to five finalists who will present their business to judges, who will choose the grand prize winner.
The local initiative has been about 16 months in the making, said Campbell.
“Every time we were ready to launch it, we had to go into a lockdown and we had to stop the planning. But we kind of feel that we’re at the end of that so we feel confident in launching it now,” she said.
Along with filling vacant storefronts, the competition will help local entrepreneurs fulfill their dreams.
"We know there are so many people that have been working out of garages, that have been working out of basements that have had a passion for their entire life and now they’re going to have an opportunity to take that passion and bring it to the entire City of Timmins,” she said.
Win This Space is open to independently owned businesses or partnerships, but not franchises.
“Throughout the pandemic we’ve seen a trend of higher numbers of home-based businesses, many of whom have been extremely successful over this time period and it’s really an opportunity for those types of businesses to branch out into a brick and mortar space much faster than they would otherwise be able to do that,” said Mike Scott, Timmins Economic Development Corporation business development consultant.
The contest is not for a specific space downtown.
Campbell said it applies to any space in the BIA borders, from a restaurant to office or retail.
The winner will negotiate the lease with the landlord and the rent money will be turned over monthly, she said.
Along with the rent, she said the grand prize includes support for printing promotional material, bookkeeping services, advertising packages and IT support.
The initiative aligns well with the Business Enterprise Centre and TEDC's activities to support start-ups and help existing businesses grow, said Brenda Camirand, TEDC director of business development and retention.
"So with that when we talk about economic opportunities that come with these businesses, we’re talking about not only starting a business, but sometimes leads to additional job creation that we see in the community and we’re excited to be able to be part of this initiative to be able to support those businesses,” she said.
More details on Win This Space and the application are available here.
