A lot of people thinking of starting a business in Canada are sometimes overwhelmed by this idea. This is so because there are so many things to be done before one can operate which many people are not aware of. However, experts have come up with simple guides to help upcoming entrepreneurs.
The first thing that an individual must do is to come up with a good business idea. This is crucial whether a person is planning to start a home based or a small commercial activity. One can do this by looking carefully at the trends in the market to check out what products or services consumers want which is not available. Adding value to an existing product can also be an idea. In some cases, a hobby can turn out to be that unique idea one was looking for.
Writing up a plan for the activity is next once one has decided on what to start. This is the formal writing that describes the reasons of starting the activity, the objectives and how the objectives will be achieved. A brief description of how resources to manage the activity will be found can be included. Not everyone can write a good plan. Thus an individual can always consult family or friends or the website on how to go about this.
The activity that follows after writing down the plan is name finding. An entrepreneur should think of a name to give the business. This should be one that is memorable and markets the activity and also within the legal element. The name should not be illegal or not respecting the laws of a place. After this is done, registering the name follows. This is a legal requirement in Canada.
An entrepreneur should also decide on the type of ownership to have. If it is a partnership, sole proprietorship or corporation, one should indicate the ownership. This is crucial because it will determine the organization of the business, issues regarding revenues and taxes.
Upon completion of the above activities, the entrepreneur should then seek a license of operation. This is done at the municipal council of the city or town where one lives. It is illegal for anyone to operate without a license or permit.
For anyone thinking of starting a business in Canada, the above guideline is very useful. But for the activity to succeed, an entrepreneur has to have passion in what he does and put in a lot of effort. These can be through; proper and efficient advertisement, good customer relation among other activities that will enable one to compete with other established businesses.
The first thing that an individual must do is to come up with a good business idea. This is crucial whether a person is planning to start a home based or a small commercial activity. One can do this by looking carefully at the trends in the market to check out what products or services consumers want which is not available. Adding value to an existing product can also be an idea. In some cases, a hobby can turn out to be that unique idea one was looking for.
Writing up a plan for the activity is next once one has decided on what to start. This is the formal writing that describes the reasons of starting the activity, the objectives and how the objectives will be achieved. A brief description of how resources to manage the activity will be found can be included. Not everyone can write a good plan. Thus an individual can always consult family or friends or the website on how to go about this.
The activity that follows after writing down the plan is name finding. An entrepreneur should think of a name to give the business. This should be one that is memorable and markets the activity and also within the legal element. The name should not be illegal or not respecting the laws of a place. After this is done, registering the name follows. This is a legal requirement in Canada.
An entrepreneur should also decide on the type of ownership to have. If it is a partnership, sole proprietorship or corporation, one should indicate the ownership. This is crucial because it will determine the organization of the business, issues regarding revenues and taxes.
Upon completion of the above activities, the entrepreneur should then seek a license of operation. This is done at the municipal council of the city or town where one lives. It is illegal for anyone to operate without a license or permit.
For anyone thinking of starting a business in Canada, the above guideline is very useful. But for the activity to succeed, an entrepreneur has to have passion in what he does and put in a lot of effort. These can be through; proper and efficient advertisement, good customer relation among other activities that will enable one to compete with other established businesses.
About the Author:
When there is a need for starting a business in Canada, you must review the info on starting a business in Alberta here. Find out how to get the City of Edmonton business license by checking this link http://startingabusinessinalberta.com now.
No comments:
Post a Comment