Poverty is a serious problem in Hamilton, and Welcome Inn  Community Centre has a PLAN to reduce it using two innovative, asset-based initiatives: bizPLAN and savingsPLAN.

Asset-based programs are effective at reducing poverty because they increase the resilience of households. Resilience refers to the ability of an individual or a family to withstand shocks – social, emotional, and financial. Resilient households have resources that enable them to adjust to, and cope with, various challenges. Resilient households are able to actively participate in the communities in which they live.

As individual households become more resilient, communities become more resilient. Social and economic assets are critical to increasing resilience and reducing poverty. bizPLAN and savingsPLAN provide tools for individuals and families who are seeking to make these changes.

bizPLAN

Click here for a listing of bizPLAN graduate businesses.

bizPLAN is a 10-session workshop series in which you will work your way through the process of planning your business launch or expansion. bizPLAN participants work in small groups with volunteer coaches in a task-focused, highly collaborative environment in which ideas are shared, challenged, and improved. The results are a new set of skills with which individuals can plan and sustain viable microbusinesses, access to ongoing learning opportunities, and access to a supportive network of peers and professionals who can help you continue to learn and grow as your business evolves.

bizPLAN participants receive:

1. information and knowledge about a range of topics (marketing, legal issues, book and record keeping, networking, technology, etc.)
2. constructive feedback on business ideas and the opportunity for collaborative problem solving
3. access to a broad network of small business people and other professionals

Additionally, bizPLAN graduates are eligible to apply for an interest-free microloan to get their business going. savingsPLAN also offers a potential pathway to non-debt capitalization of participant business ventures (the usual eligibility criteria apply).

Expectations of bizPLAN participants:

1. commit to attending the entire workshop series
2. commit to active participation in the workshop activities and planning tasks
3. completion of a business plan
4. engaging in periodic follow-up activities (surveys, networking events, etc.) following graduation

bizPLAN Fall Session

• Monday evenings (6:30-9pm) September 13 - November 29, 2010 or
• Wednesday mornings (9:30am - noon) September 15 - November 24, 2010
• Application deadline is September 6, 2010

Please note that space is limited to 15 participants in the evening session, and 7 participants in the morning session. Apply early!

Please note: there is an application and interview process in order to gain admittance to this program. Completing the application process does not guarantee you a space in any session. It is important to apply as early as possible, as spaces fill up several weeks in advance. There is a $20 fee for workshop materials (workbook, handouts, etc.) that applies to all participants. There are no other costs associated with participation in bizPLAN.

bizPLAN Graduations

Everyone is welcome to attend. Wednesday, July 14, 2010: 7pm Wednesday, December 1, 2010: 7pm

savingsPLAN

savingsPLAN is a "matched savings" program.

Participants in the savingsPLAN program save toward an asset goal (education, business start-up or expansion, home ownership). Each month, you deposit into a savings account opened by you, specifically for saving your money. Every eligible dollar you save is matched to help you achieve your asset goals*.

Each month that you meet your savings goal, Welcome Inn will make a matching contribution (match amount depends on asset goal). This money remains in a separate “match” account while you are in the program. Upon successful completion of the savingsPLAN program, you can "cash out" your savings and the match dollars for the purchase of an asset.

Visit $martMoney, the savingsPLAN blog!

What can savingsPLAN do for me?

savingsPLAN is unique in Hamilton, but matched savings programs have existed in other cities in Canada and around the world for some time.

Matched savings programs help lower income households by:

• extending your savings power through match dollars
• providing opportunities to learn about money management and how assets can help improve your economic situation
• helping you save for and purchase an asset that will benefit you and your family for years to come
• providing a sense of accomplishment as you reach your savings goals

The most important thing that a matched savings program can do for you is to help you do it for yourself. savingsPLAN provides tools for change in your life. Only you can pick them up and use them.

Am I eligible for savingsPLAN?

The purpose of savingsPLAN is to support lower income families in developing an asset that will benefit the family over the long term. There is a maximum income cut-off for participation in this program, as outlined below:

*You must meet all eligibility criteria to participate in the program, and meeting the eligibility criteria does not guarantee your acceptance into the program. Savings will be matched only on eligible savings up to the specified program maximum amount. As a participant in the savingsPLAN program, you will be required to attend regular meetings with the program co-ordinator, and a certain number of workshops designed to help you achieve your financial goals. Participants who fail to meet all program requirements will be considered to have withdrawn from the program and will not receive the match dollars. (You will retain your own savings.)
** assuming that you save the maximum for the program period

When & How to Apply

Applications for savingsPLAN are accepted year-round. There is an application package and an interview that must be completed before an admission decision can be made. You will be required to provide copies of the previous year’s tax returns for all adults in your household/family unit.

Please click on the “information request” link below to begin your application process.

Participant Application and Information Forms

If you are interested in bizPLAN, click here for an application.

If you are interested in savingsPLAN, please fill out this information request, and we will contact you shortly.

If you would like to know more about the programs and services of Welcome Inn please send us an email using this form. We will respond to your request shortly.

To Volunteer: Please complete this form and we will contact you shortly