build a new career
TRANSCRIPT
Build a New Career - Start Up Your Own Business
Setting up a new business always requires motivation, hard work, determination, high
moral and in-depth knowledge of business. Similarly, Canadian opportunities also demand high impetus and will-power, but it is sure that all your hard work gives strong profit. If you do not want to start from scratch, you can always think of
purchasing a franchise. This way, you will be purchasing an already set up brand, and you will face fewer hurdles on your path of success.
You first need to a identify your business opportunity. As business opportunities in Canada are in abundance, you need to figure out what is the best possible option for
you. Select a field in which you can give hundred percent. Then after that it is highly recommended to have a proper business plan. Having a business plan helps you in understanding the structure of your industry, your competitors, requirements, etc.
Businesses having a sound business plan can a achieve up to 50 percent more profits than the non-planned ones. Preparing a good business plan also improves your business sense. Now, coming to the capital investment, which is a must to start any
new business. However, the amount of funds depends upon the type of business selected. You can have the money from various sources in Canada such as from Canada Small-Business Loan Program, Canadian Youth Business Foundation, or
Business Development Bank of Canada, etc. Completing the formalities and paper-work, you may get the loan to start. Next step is a to name your business. It should clearly express what you are offering and should be distinct enough to differentiate
you from your competitors. Your target audience should have a reason to hire you. The name you will select, will aid in the branding of your is a company. One most important thing you have to do is your business insurance, as you can understand
that there is some risk involved with a new business. So, you should manage those risks by getting small business insurance. In addition, maintaining proper accounts is
also important in a business. You must keep a record of the accounting to understand the to financials of a business.
The other things you need to a know are the business legal structure, Payroll tax, and other taxes like GST, PST, Corporate Income Tax and other employer obligations. Keep all these points in mind and start a new business in Canada