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Tina Samuels

Tina Samuels writes on small business topics, marketing, social media, and how to remove information from websites.

Tina Samuels has written 23 articles for SB Informer.
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Starting a Small Business in Canada

Tina Samuels

January 13, 2014


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When you think about it, setting up even just a small business in Canada may seem intimidating.

In order to guide you in your goal of starting a business, this article will provide you some simple pointers that you should always keep in mind.

1.    Think outside the box.

There are already a lot of business ventures in Canada so in order to be able to start a small business that is highly profitable, you must think outside the box. Don’t just start up a business that is currently in demand.  It would be better if you will be able to set a trend instead of just following the latest trends. Be unique and come up with a million-dollar business idea.

Aside from thinking of a unique business idea, you must also be creative in coming up with a business name. Simply naming your business after you is too mainstream. It would be better if you think of a witty name for your business that will surely get your target consumers curious and make them start buying your products.

Your products and services should also be unique in some way. If you can’t come up with an original idea for a product, you might just want to present it differently or with a unique kind of package. The point is, try to be creative in one way or another so you will be able to get people’s attention.

2.    Plan thoroughly.

The key to a successful business is thorough planning. Don’t expect that you will be able to successfully start up a business in Canada without even planning about it. Write a business plan or hire other people to write one for you.

Obviously, there are a lot of risks involved in setting up a business, so the best thing that you can do is carefully plan your courses of action in order to minimize the risks or loss. Make feasibility studies and think of viable measures in order to maximize the profitability of your business.

3.    Consider the option of micro-financing.

With all the financial crises that are being experienced in many countries, sometimes setting up a business using the money in your own pocket may not be enough. If you really want to start up a small business in Canada with this condition, you might want to consider the option of micro-financing to give you a little push.

There are a lot of micro-financers that offer financial help to entrepreneurs with very minimal interest rates. After all, if you really studied all the things around your business, you will be able to repay the money in no time.

4.    Complete your business requirements.

There are several legal requirements that you will need such as business permits and licenses, registration of your business name, and registration for taxes. In Canada, you will need to register for Goods and Services Tax/Harmonized Sales Tax and Provincial Sales Tax. Make sure that you adhere to government rules for businesses to avoid future problems in the course of your business operations.

Starting up your own small business in Canada entails a lot of patience and effort considering the steps that you need to go through from planning to the preparation of documentary requirements. However, with some knowledge on the above pointers, you will surely be able to accomplish your goal in no time.


                   



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