You’re ready to take the leap and start a business. Congratulations! Making that decision might feel risky, but taking on risk can yield significant rewards. In fact, 74% of small and medium business owners are willing to take big risks to ensure to succeed. “Fortune,” as the saying goes, “favors the bold.” Still, you should […]
Our fathers are often our first heroes. From teaching their kids new skills to providing for their families–dads are pillars of strength and wisdom. Fathers are also pillars of strength in their communities, heading up restaurants, law firms, NGOs, and, storefronts. From Nova Scotia to Nunavut, dads are powering Canadian small businesses. However, juggling entrepreneurship […]
Learn about the Investment Canada Act, and find out how it affects you if you’re looking to make an investment in a business in Canada. Whether you want to open a new business, buy a Canadian company, or expand your existing business, the Act affects how you can proceed.
Check out how companies ranging from large corporations to small operations are using waste in innovative ways and read about the idea of recycling waste into profits. Get ideas for how your company can use recycled waste in interesting ways to save money and improve your reputation.
Learn how to obtain a Temporary Certificate of Compliance from the Ministry of Health and Social Services so you can open your new senior residential facility. Discover some of the requirements needed to qualify and the process to obtain your certificate.
Take a look at a few important decisions you’ll have to make when creating a cooperative in Ontario. Once you decide your legal entity structure, how to incorporate, and what your fundraising strategy is, you’ll be well on your way!
Learn how to launch your new career as a real estate appraiser, and decide if this type of certification might benefit your current business. Review the requirements to get certified through the Appraisal Institute of Canada and the Canadian National Association of Real Estate Appraisers.
Go to your customers and their pets by starting a mobile vet clinic. These mobile clinics are a popular choice because of how much money they can save you and how they benefit the community. Find out what you need to start your own mobile clinic and how to figure out fair prices for the services you offer.
Check out the steps involved in starting an outfitting or hunting guide business in Canada. Get tips related to finding land, marketing your hunts, securing provincial permits, and more. Look at some extra services you may want to offer to make your services more enticing to hunters and their families.
Learn about the training that’s involved to become a plumber, and discover more about this high-demand skill. Striking out on your own can make you nervous, but there are wage assistance programs that can offset some of your costs.
Learn what it takes to start your own freelance florist business in Canada. Find out what type of space, equipment, and training professionals need in this industry, and discover whether the floral business is right for you.
Turn your passion for cycling into a thriving business with a bicycle rental company or bike library. For people looking to up their outdoor exercise without investing in new wheels, bike rental schemes offer the perfect way to get around.
Start your career as a self-employed voice artist by following this helpful guide for getting started. Learn how to hone your voice acting skills, produce a demo at home, and make important industry connections so you can make your voiceover career dreams come true.
Take advantage of Canada Business Network’s tools for selecting a business site to learn about the demographics, historical trends, and feasibility of opening a business in certain areas.
Learn how to start an editorial services business. Look at different ways to get editing experience, help choosing a focus for your business, and ideas for marketing your services, and read tips on networking. Take a look at the big picture, and decide if an editing business is right for your next career move.
Combine your passion for photography with your love of travel to develop a successful travel photography business. With a lot of determination and careful planning you can fund your trips around the world from the profits you make from your photographic skills and even gain exciting commissions to exotic locations.
Succeed in your venture idea by using the central driving forces model. By listing the strengths and weaknesses of three important areas, you can learn where you need to improve and whether your idea is ready to go to market.
Generate some extra income on your own time by flipping used furniture. Follow these helpful tips and ideas to get started, then use the skills and resources you gain to grow your business.
Understand the difference between a business cooperative and a regular for-profit business. This includes how you become owner of the company by buying services, how you receive a share of company profits, and how you get the right to vote.
Discover why you might need to have more private work areas in your office. Open office spaces aren’t ideal for everyone. Some employees need private offices to really focus on their work. Learn more about the benefits of having private office space and private personal areas for your employees.
Determine if building a business with your romantic partner is the best course of action by examining these common challenges and their solutions. Follow these tips to keep your personal and work lives healthy and thriving.
Discover how to use YouTube to create an exercise channel, build a loyal following, and launch a lucrative career as a fitness entrepreneur — both online and in the real world.
Learn what stealth mode is in business, why some startups in competitive markets see advantages to this strategy, and why some business advisors feel it can be harmful.
Work different channels to promote your upcoming grand opening to boost attendance and reach your initial sales goals. Making the event fun and offering incentives also helps increase your success.
Research the pros and cons of starting a business in Canada’s Far North. Despite the isolation and rugged terrain, the Far North offers many opportunities with potential financial incentives and the chance to tap into unsaturated markets.
Find out what a planning horizon is, and learn how to choose the best horizon for your small business based on the industry, the project, and the data that’s available.
Create a brand logo that draws attention and spreads your message without making these common mistakes. Learn what to avoid and what to embrace when you make a logo for your small business.
Develop your executive summary after you write your entire business plan to create a memorable tone that grabs the attention of potential investors and encourages them to continue reading.
Turn your passion into a lucrative career by starting your own small business in Canada. Learn the top industries in which other Canadian entrepreneurs are having success.
Take your pet grooming anywhere when you set up a mobile business. Learn how you can get a mobile pet grooming business started, from getting the right supplies to finding your first customers.
Each year, business growth is one of the most popular topics online. Almost every business owner wants to see his or her company grow and succeed, but many owners feel as though they are making things up as they go. That stress can be compounded by the day-to-day demands of running a business. To some [...]
Youve developed an exceptional business concept and are ready to test your product or service in the marketplace. Next come the obvious things: developing a business plan, finding an appropriate office space in or outside the home, and deciding whether to go it alone or hire employees. These decisions hinge on the scale and size […]
Finding the right name for your business is a crucial step in helping set it up for long-term success. A bland, generic, weird or misleading company name runs the risk of making your business indistinguishable or, worse, forgettable. Larry Page and Sergey Brin came perilously close to calling their search engine company BackRub before settling […]
The cost of office space is a major expense for any business, especially for a small business with limited financial resources. Consider the advantages and disadvantages of leasing vs. buying office space, relative to your particular small business and financial situation. Advantages and Disadvantages of Leasing Leasing office space is a popular option for small [...]
Learn about the many different inputs that go into creating a new product from scratch, starting from the initial idea and moving all the way to the final production run.
A capitalization table, commonly known as a cap table, is a spreadsheet that shows the ownership stakes of a company. Cap tables are typically used for startups seeking seed funding or venture funding, but slightly more established companies also use them at many stages in the venture capital process. If your business is seeking funding, […]
Not every business venture is a startup. If you’re considering starting a new company, it’s important that you understand the differences that separate a startup from a traditional new business. That way you can select which path best suits your personal goals and also determine how to proceed with important considerations such as funding, marketing, […]
If you have the financial resources to start a small business, you’re in a special position that sets you on a fast track to success. But you still have a long way to go, especially if you lack expertise in your chosen industry. You can mitigate this lack of knowledge by surrounding yourself with a […]
Market research gives your small business a significant competitive advantage, providing valuable insight into customer behaviour and buying trends in your industry. And with 80 percent of internet users active on social media, never before have small businesses had such access to consumers and what makes them tick. By integrating social media into your market […]
If you’re comfortable around cars and good with people, a mobile car detailing service could be a business that fits your talents. Running a mobile business provides excellent profit potential, especially because of low overhead costs. But you also have extra considerations to keep in mind when you have a business with no fixed location […]
The restaurant business is attractive to many entrepreneurs who dream of inviting friends to dine at their eatery or reading rave reviews for their hot new chef. While the barriers to entry in the restaurant industry are lower than in many other fields, the unique requirements and quirks of the field should cause any aspiring […]
If you’re a dog lover, starting a dog training business might be a great way to earn money doing something you enjoy. For this business, your main goal is to offer various levels of obedience classes to dogs and their owners. While it’s great to have a love for dogs, this alone isn’t enough to […]
Whether you run a hotel or a restaurant, standing out from the competition is critical to the success of any organization in the hospitality industry. Your goal should be to increase awareness of your brand ” not just recognition. The two terms ” brand recognition and brand awareness ” are often used interchangeably, but the […]
Your office space is the heart and soul of your business, so a lack of room can make it tough to run at peak performance. Growth is great, but adding a team member or expanding your services can make you quickly fill your available space. If you’re not ready to move to a larger office […]
As a small business owner, you might create original material, known as intellectual property, such as original photographs, graphics, animation, music, and articles, and publish such material online. You copyright this type of material to protect it just as you would any of your other business assets. You also might use other people’s copyrighted material […]
Speaking in public terrifies many people. As scary as it can be, public speaking is the kind of professional activity you may have to ask your employees to do sometimes, so it's important to help reluctant or inexperienced team members learn helpful strategies to overcome their fears and deliver an effective address. When your employees [...]
If you’re just starting your business, you need a way for people to recognize what you do. A logo, which is a symbol made of carefully chosen colours, shapes and fonts, sends a clear visual message about your industry, target market, values, and product or service. Most importantly, a logo builds brand recognition that can […]
Whether you’re in your first year of business or you’ve been an independent contractor for decades, you may be thinking about the possibility of incorporation. There are certainly advantages to incorporating as a business, such as a potentially lower tax rate, reduced debt liability, and better access to business loans. However, incorporation also requires more […]
A sports licensing deal can give your business a unique advantage, especially if it’s in a crowded marketplace with numerous competitors offering similar products. Sports fans are passionate about their favourite teams, and a team logo on your product is a significant selling point that may even convince customers to pay a premium. Considering the […]
Small business owners often use their personal assets as an investment in their companies with the expectation that they can later withdraw funds as needed. Others want to take advantage of their company’s growing bank account to compensate themselves for their contributions. In either case, they can do so with owner draws or drawings, which […]
Eventually, all business licenses expire, and to stay compliant with local and federal regulations, it’s critical that you know how to handle business license renewal. The process is different depending on where your business operates, and in most cases, you need to consult with the authorities in your local area. For instance, if you run […]
When you’re shopping around your small business plan in the search for investors, it’s sometimes necessary to share what you consider privileged information. To protect yourself, you might want to ask potential investors to sign a nondisclosure agreement. It may not always work, however, if only because of the awkwardness of asking people to agree […]
In Canada, some businesses require licenses and permits, while others don’t. As a small business owner, it’s important to be compliant with regulations, but it can be hard to know where to start. Luckily, the BizPaL website is online to help. Using the site is simple. Simply select your province from the map on the […]
A home bakery enables you to produce food in your house, eliminating the need for costly commercial kitchen rentals. As you get started, it’s important to follow Canada’s complex food production laws. By securing all necessary licences and permits in advance, you can build a legal, profitable home-bakery business. Farmers Markets In most provinces, the […]
Become an entrepreneurial pioneer in the fast-growing Canadian medical marijuana industry. Opportunities are ripe for companies producing medical marijuana, and submitting a licencing application is the first step. There are legal and industry hurdles to getting government approval, though. Knowing what to expect going in can help you prepare for the challenges ahead. Starting the […]
Coming up with the next big business idea can be a challenge in today’s saturated markets. If you’re an aspiring entrepreneur, there’s a good chance you’ve already spent countless hours brainstorming. Sometimes, sitting, thinking, and hoping for a flash of lighting idea just isn’t practical. Here are some tips to help you generate unique ideas […]
A business licence is a document issued by a government authority that allows the owner of a business to operate within the country, province, territory, or municipality that issues the licence. While not all businesses require a licence or the same kind of licence, government agencies have the right to fine businesses operating without required […]
Office decor makes a big difference in employee happiness, and happy employees tend to be more productive and efficient. Because people spend much of their day at work, the aesthetics of the workplace have a big impact on overall health and happiness. Controlling Clutter The first step to decorating your office to boost employee morale […]
When you form a small business, choosing the most appropriate business structure is vital, since it can affect your tax liability significantly. If you already have partners in your business, it’s likely you want to choose from one of the three legal partnership structures available in Canada: general partnerships, limited partnerships, and limited liability partnerships. […]
When starting a new business with an equity partner, it is easy to overlook that there might come a time when one of the partners wants or has to buy out the shares of the other partner. This can occur because one partner wants to leave the business completely or own it all by itself. […]
Creating a distinctive tagline that exemplifies your brand is an easy and free way to improve your company’s branding. When you think about the names of major corporations, you probably immediately think of their slogan too. That’s not an accident; a solid business tagline should get stuck in your head. Of course, even the best […]
For many people, becoming an entrepreneur offers an exciting freedom and flexibility that many ordinary day jobs fail to deliver. Whether you’re attempting to solve common problems or improve current business practices, you should innately reach for new accomplishments and allow your passion to drive your success. Natural born entrepreneurs display certain characteristics that place […]
In the modern Canadian economy, everybody is looking, it seems, for a sure-bet small business to start. Courier services could be that model, if it's done right. The advantages are hard to deny: Almost every person or business eventually needs something delivered by hand sometimes, a few need this service on a daily basis, there [...]
As a freelancer, independent contractor, or sole proprietor just getting started, you spend a lot of time working on your own. When you work alone all the time, your productivity might suffer. If you work best surrounded by the industrious buzz of other entrepreneurs, you may want to check out a co-working space. In some […]
Harnessing the wind can provide clean, affordable energy for people living in gusty rural areas. To turn the kinetic energy of wind into usable electric energy, you need to build a wind turbine – or, on a larger scale, a wind power farm. Building one of these farms takes careful planning plus cooperation with local […]
Leasing or buying a commercial space can be costly for a small business. Before you lock your company into a legal agreement, it’s a good idea to schedule a commercial property inspection to protect your interests. A professional inspection can rule out potential problems and ensure the new office space is a worthwhile property investment. […]
From your logos to your product designs, your small business has many unique intellectual properties. As a new small business owner, you want to protect your ideas to ensure that you — and only you — reap the commercial benefits of your creations. Luckily for you, Canadian intellectual property law and the Canadian Intellectual Property […]
When you launch a small business, it can be tough to compete with the big players in your industry, at least in the beginning. It may not be realistic to offer the lowest prices or around-the-clock service like your established competitors. Fortunately, one important area where small businesses can compete with and even outshine larger […]
In an economy as large and diverse as Canada’s, there are many ways to build a successful retail business. One of the less-traditional ways to organize a business selling goods is to operate it as a consignment store. Consignment shops are in many ways similar to other retailers, but with a few crucial differences that […]
Discover how to start an auto repair shop in Canada. Make sure you know vital information about registering the shop, borrowing money, and hiring workers.
Learn how the Canadian Revenue Agency improved its services for small and medium-sized businesses. Find out about new CRA tools and services.
Plan your next career move with these four independent career suggestions for culinary professionals.
Take a look at these four unique mobile business ideas that you may want to consider launching as a small business.
Learn how to become a business consultant, from the initial planning phases to securing your first clients.
Understand the challenges of a landscaping business, and learn some effective ways to deal with them.
Explore these reasons to start a business during a recession. Let the health of individual industries determine whether starting a business makes sense.
Find out why masonry, welding, commercial diving, and electrician services are some of the best trade businesses to start in Canada.
Learn why a bike repair business is one of the best small business ideas for entrepreneurs who love cycling.
Learn how to start a boat cleaning and detailing business by conducting market research, studying the competition, and carving out a niche.
Starting a senior care or elderly assistance business is a great idea for a small business. Learn the pros and cons, and see if it might be a good fit for you.
Learn why starting a tour guide company is a smart business venture if you live in the right place and are an expert.
Discover the advantages of starting a mobile salon truck business and what you need to succeed in this potentially profitable niche.
Learn why starting a presentation design business might be a great idea for you, and see what tools you need for starting this business.
Create your own furniture restoration business, learn how to make money upcycling furniture, and start your venture successfully.
Learn more about starting a chimney sweeping business in Canada, including certification processes and tips for staying busy in the offseason.
Jump into the cybersecurity field by learning how to be a security consultant. Learn what type of training you need and how to launch your own business.
Take a look at what to do if you overpay your employees. Learn how to deal with overpayments related to clerical errors or when employees don’t perform duties.
Become a professional bookkeeper even if you don’t have any experience. Learn how you can get started and market yourself to attract clients.
Satisfy your curiosity about how to start a box subscription business from concept idea to delivery with this timely guide.
Expand your options as a beer enthusiast by understanding the numerous legal and strategic items to consider when opening a brewery.
Planning on starting your own catering business? Here’s what you’ll need to prepare for to serve up success.
Find out how to start a daycare business in Canada, including tips about location, applicable laws, and creating a great business plan.
Learn how to start a massage business in Canada, understand the steps you should take, and identify some common challenges unique to the industry.
Review some of the steps involved with starting your own small business as the owner of a hairstyling salon.
Review the basic steps of starting a wedding consulting or planning business. Learn about permits, business numbers, marketing, and more.
Launch a business as an ESL tutor by learning what credentials you need, how to plan your business, and where to find students.
Learn how to start an industrial design business whether you’re leaning toward product design and sales or selling your services.
Find a variety of professional jobs that let you work remotely from your home or anywhere in the world.
Figure out if you’re ready to get into real estate. You’ll need to be a master at managing your time and doing your own marketing to succeed in real estate.
Understand how to buy and selling domain names for profit, and identify some of the challenges you’ll face in this business.
Learn how to make money on used book sales, including where to purchase books and apps that show you how much money you can make on each book.
Plan for a career as a motivational speaker by learning where to start, how to turn pro, and what to do after that.
Learn how to start a consulting business, including choosing your niche, networking, and sealing the deal with potential clients.
Learn how to start a home inspection business, understand what kind of training you need, and identify where you can get your first clients.
Learn how to qualify for your licence to start up your own interior design business in Canada and grow your customer base.
Discover the common challenges that face security businesses in Canada, and learn about ways to overcome them.
Capitalize on a growing trend with tiny home business ideas, from planning and building tiny homes to using one for your office.
Read up on the basics of choosing and using an approved legal element for your corporate business name.
Enhance your employee recruitment and satisfaction by installing an in-office child care center at your business.
Turn your love of animals into a fun and fulfilling pet business. Check out these tried-and-true pet business ideas that you can start right now.
Brand your accounting firm to support your marketing efforts for business development and growth going forward.
Curious about flea markets? Check out these tips to finding success at flea markets. Get ideas for increasing sales, doing after-event marketing, and more.
Learn why being a professional organizer is a great business idea; find out what you should expect and how to get started.
Learn how to launch a freelance makeup artist business in Canada. You may need a certificate or a license, depending on the provide where you work.
Get familiar with the ins and outs of starting a bed and breakfast. A B&B can generate strong revenue, but you need a strong business plan to make it work.
Get an idea of how to start a child care small business. Learn not only what licences are needed but also what factors make you more likely to succeed.
Learn how to how to start a profitable custom remodeling business while staying compliant with Canadian laws and regulations.
Love dogs? Consider starting a dog walking business. Take a look at the steps involved in getting started with your own canine-centered company.
Starting a handyman business requires a small amount of capital and a big dose of skills that you need to brush up on.
Discover how to become a personal shopper, and find out what it takes to start your own personal shopping business.
Start a successful technology repair business with these basics, including creating a business plan, networking, and acquiring funding.
Get the scoop on how to start an HVAC business, with tips for experienced HVAC technicians and aspiring entrepreneurs alike.
Review some of the most common pros and cons of owning a remodeling business so you can make an informed decision.
Learn how to start a moving company by finding a niche, and preparing a business plan and executing it.
Planning to start your own security business but not sure what to do first? Read this quick guide to creating a successful security company.
Looking for a fun and potentially lucrative hands-on job? Consider starting an upholstery business. Here’s an overview of how to get started.
Discover the essential elements necessary to turn your love of animals into career as a travelling dog groomer.
Prepare multi-year forecasts of revenues and expenses to promote the long-term success of your small business.
Learn the advantages and disadvantages of opening your own gym, and discover how to start a gym with proper preparation and business planning.
Figure out if owning a coffee shop is right for you. Learn about the pluses and minuses of running a coffee shop, and what it takes to get started.
Sip-and-paint party businesses are a popular trend for entrepreneurs. Find out how you can bring wine and art to your community and profit.
Blaze an exciting new path in life by learning how to start graphic design business and leave behind your old job forever.
Want to stay updated and learn new things about taxes? Check out the Canada Revenue Agency’s video and webinar section.
Determining fair market value and goodwill are important concepts to know for you to be a disciplined buyer.
Discover what makes a cooperative different from a regular for-profit business and how you can actually earn money by paying for goods or services.
Discover several advantages of starting a virtual call centre business. Consider these four factors before making the call to go ahead with your enterprise.
Find out some common myths about starting a business and the realities of being your own boss before you quit your day job.
Discover how to start a cleaning business by developing a winning business plan and then executing it.
A landscaping business can lead to a lucrative career. Learn how to start a landscaping business in a way that maximizes your chances for success.
Make your photography hobby a full-time career by establishing a niche and learning how to market yourself and get photography jobs.
Follow these key guidelines for starting a senior care business in Canada to capitalize on the services you can offer an aging population.
Understand the costs of opening a CrossFit gym, how business expense software can help with budgeting, and what to expect in revenue after opening.
Learn the pros and cons of a sole proprietorship. As a sole proprietor, you have exclusive control over decisions, but you are liable for all debts.
Get some ideas for small businesses that you can start, and consider the assets that you bring to your possible endeavours.
Explore of four of the best apps that you can use to design the office space for your new small business.
Turn your love for cooking into a lucrative business by opening a legally compliant catering company in Canada.
Learn the key definitions for the articles of incorporation and their detailed content, such as share capital, company name and the board of directors.
Discover four popular business models available to entrepreneurs. Learn about their core structure, advantages, and disadvantages.
Most businesses entities in Canada are sole proprietorships. If you don’t want to be the single operator and owner of your company, consider setting up your business as a partnership. There are three kinds of partnerships: General partnerships Limited partnerships Limited liability partnerships Whether you can legally establish your business under anything other than a […]
Running an e-commerce aquatics store can be a challenge when shipping livestock such as invertebrates, fish, and plants. Putting policies and procedures in place for packing, preparing, and shipping your orders helps streamline the process and keeps customers happy. Pack Securely Fish and invertebrates are fragile, so it is important to avoid too much movement […]
As your small business grows and evolves, there may come a point when you decide to rebrand your company. Changing your brand identity is no small thing, and you should consider the decision carefully. Rebranding may a necessary and beneficial step in continuing to grow your business, but it isn’t as simple as changing your […]
Applying to incorporate your new small business under the Canada Business Corporations Act affords you two options — a corporate name of your choice or an assigned, numbered name. While choosing your own company name means extra cost for you, there are multiple advantages. Having a corporate name is a significant piece of your business’s […]
Make sure your assets are protected through a complete estate plan that includes a legally recognizable will. This is the only way to ensure that your assets are distributed correctly and that ownership of your small business transfers smoothly to the subsequent owner. Types of Wills The Government of Canada recognizes three types of wills: […]
While not always required, most entrepreneurs construct business plans before launching their businesses. A business plan is an important document that acts as a road map for your actions across all components of the business, and it can help to attract talent and investors. Learn more about the key sections of a business plan, and […]
As a small business owner, there are many reasons why you may decide to close your business. Perhaps you have reached the age of retirement or feel that you are ready to move on to new challenges. Perhaps also your small business is simply not as profitable as you like. Find out about the steps […]
Creating a set of core values for your company can help your small business team more effectively work toward achieving company goals, establish high operational standards for personnel and guide you in making more optimal hiring choices. Zappos, the successful clothing and shoe retailer, is a good example of a company with strong core business […]
Social consciousness is a hot marketing trend. Businesses are taking political and cultural stances on hot topics, using buzzwords like “empowering,” and even pitching products that serve as vehicles for change – although the nature and direction of the change may depend on the target audience. On the surface, a marketing campaign can be directed […]
Enterprise resource planning software represents a sizeable potential investment for your small business. It remains an issue many, especially new, small businesses debate, thinking themselves too minimal or “small” for such an investment. This attitude is largely based on the misconception that companies only need ERP software if they have a large number of employees. […]
To make the most of your QuickBooks small business bookkeeping software, you need to customize the software based on your industry and business structure. If you run your business as a partnership, you should customize the software accordingly. Here are a few steps to customize the desktop version of QuickBooks. Starting Slow First-time users often […]
Canada Post provides Lettermail service for economic shipping of cards, catalogues, or CDs within Canada. For delivery to the United States, Canadian businesses that ship paper products in small envelopes use the Letter-post service. Items that don’t fit within the size, weight, and material restrictions for Letter-post can be shipped using one of several small-package […]
When your business has to operate on limited resources, it is important to make careful decisions about how to allocate time, capital, labour, and focus. To be truly focused and efficient, your business should have clear direction about what it does and why it does it and have confidence in the process through which the […]
You can’t choose your family, but you can choose your business partners and it’s the latter that can have the greatest consequence on your financial future. Among the leading causes of business failures are business partnerships that have gone bad. In many respects, choosing a business partner is similar to choosing a person to become […]
If you’re planning to launch an app, you need to decide if you should charge for it or release it for free. There are pros and cons to both options, and the right choice depends on your objectives for the app as well as your earning goals. Free Apps If your app is designed to […]
Starting a business costs money, no matter what the size. The obvious costs include inventory, hiring employees and building rent. However, there are several expenses that new small business owners overlook. Failing to factor in these costs and expenses could have a devastating effect on the success of a business, especially when finances are tight […]
Family-friendly workplaces make for happy and productive employees. Consider implementing the following policies to retain your best talent: Provide an on-site day care. Job-site child care is a growing concept in Canada, and research shows that it attracts and retains top-quality talent. Offer flexible schedules. Consider allowing your employees to set their schedules around family […]
The Canadian Intellectual Property Office is the government agency that oversees intellectual property and helps businesses protect their intangible assets. As a business, you most likely have created intellectual property, such as innovations, technology, articles, logo designs and unique processes. If you have intellectual property you wish protect from use by others without your consent, […]
A common economic measure, known as elasticity of demand, is something that every small business owner should understand. It is such a fundamental economic concept that failure to be aware of it may cause a small business to quickly fold. What Is Elasticity of Demand? Price elasticity of demand, also called demand elasticity, is a […]
Inflation and deflation are two economic concepts that affect business operations. As such, it is important for small business owners to understand what these things are, how they are caused and controlled, and what can be done to protect against them. What are Inflation and Deflation? In economics, inflation and deflation are two terms used […]
In broad terms, a vendor is any business or individual that supplies products to consumers. In small business, people use the term “vendor” to describe companies that supply other businesses with specific goods or services. If you run a garment manufacturing company, for example, you might do business with vendors that sell textiles and sewing […]
Generating quick and accurate bids and quotes can make the difference between winning and losing a job or a customer in businesses ranging from insurance to construction. Because these submissions often serve as the first impression of your company for potential clients, bid and quote proposals should also convey professionalism combined with information detailing the […]
Opportunities for freelance consultants are steadily growing. There is a strong demand for freelancers in nearly every industry, especially for business consultant freelancers. However, jump-starting your consulting business takes time and know-how. Freelancers often dedicate years toward developing their ability to find and build a clientele base before they bringing in regular profits. Being a […]
Subscription box businesses are fast becoming a means by which new small businesses can gain traction in the retail industry. As a subscription business owner, you curate boxes of nice goods that your customers love and want to receive on a recurring basis. Follow this guide to launch your own subscription box business. Choose a […]
As an entrepreneur, it is likely that at least once during your career you will face the prospect of purchasing an existing business. While buying an established company presents you with less risk, it usually incorporates a larger cost base. To mitigate these risks, perform the following four actions before acquiring a business: Fully Investigate […]
Because e-commerce stores are becoming easier to start with the help of numerous online tools, it is also more common to make mistakes. The time and resources poured into developing an online store are wasted if proper steps are not taken and certain strategies are not developed. Here are five common pitfalls of e-commerce stores […]
In essence, a notice of assessment is the Canada Revenue Agency’s response to your tax return. As such, it contains important information that you need to understand to decide if you need to take further action with the CRA. Two Types of Notices of Assessment There are two types of notices of assessment. The normal […]
With affiliate marketing, you can make money selling products without worrying about inventory, shipping, unit costs or even coming up with a product on your own. Affiliate marketing is actually pretty simple. You sell products online for other people and take a cut of the revenue for each item you sell. In essence, you’re an […]
Tapping into your entrepreneurial spirit and starting a small business after 50 can be a great way to use the knowledge, skills, and contacts that you have developed throughout your career. Your key advantage over younger generations is your extensive industry experience. Add value to clients by helping them leverage from your professional expertise. Senior […]
The honeymoon period is over, and things aren’t looking so good between you and your business partner. Disputes and disagreements don’t have to bring your small business to a standstill. Take these steps to keep your company intact while resolving relationship problems. *Review your partnership agreement – Are you and your partner fulfilling your outlined […]
Brand ambassadors are individuals who love your products or services and are willing to sing their praises, and these brand ambassadors can play a useful role in your word-of-mouth marketing campaign. Whether they blog about you, use your products publicly, or tweet to their followers, brand ambassadors often work for free but are paid in […]
If you like working with people and have a passion for fitness, consider launching a personal training business. You don’t need more education than a high school diploma, and the average personal trainer pay is nearly $20 an hour, with many trainers earning much more. Unlike many business opportunities, a personal training business is easy […]
Most people do not realize how massive the resale industry is. Yearly, thrift stores and used merchandise businesses generate tens of billions of dollars in revenue. However, you do not need a brick and mortar storefront to make a living as a reseller. Treat Flipping as a Serious Business Starting a product flipping company isn’t […]
If you receive government benefits, tax credits or Employment Insurance, you have to meet certain criteria. If you are starting your own business, ensure that your earnings won’t disrupt your benefits. If you are collecting EI due to the loss of a job, you may work and continue to receive benefits, but you must notify […]
In business, ethics determine the best course of action that reflects those moral values. A small business should establish a code of ethical conduct and implement a program encouraging adherence to the code. How Ethics Apply to Various Business Situations Ethics issues can arise in a wide variety of business situations. For example, conflicts of […]
Being an Amazon seller can be a great way to leverage the Amazon brand while selling your products, and if you are based in Canada, you may sell on the Canadian or American Amazon site. To be successful, you need to be aware of the pros and cons between these two approaches, and understand how […]
Intellectual assets, also known as intangible assets, include things like your business’s brand name, logo and URL. Intellectual assets also include original creative works (such as album cover artwork) or inventions (such as productivity and gaming software). Your closely held in-house processes, commonly referred to as trade secrets, are also considered intellectual assets. Your email […]
Being an importer is a popular small business venture worldwide, and is currently one of the highest growing business segments. Although the import/export industry does more than $1 trillion worth of business annually, it’s really more of a small business industry than a big business one. Large companies account for a relatively tiny percentage of […]
A sole proprietorship is the simplest type of business structure, and if you are self-employed or run a small unincorporated business, you are a sole proprietor. There is no legal separation between you and the business, and you must report business profits and losses to the Canada Revenue Agency. Luckily, online tools can make that […]
Intellectual property is a fundamentally intangible concept. The basic rule is that if you invent, design, draw or imagine something, you have an exclusive right to benefit commercially from it. The rights derived from your creations are property in the legal sense of the term. As such, you own them as soon as you create […]
People become emotionally invested in a business through brand loyalty. To develop a loyal brand following, create a persona that comforts and relates to your customer base. Use colours effectively to invoke emotions, or choose specific words in published items to invoke certain feelings and thoughts in customers. Brand loyalty is an emotional bond, so […]
The holidays are a very busy time for the retail sector. Staying on top of holiday demand can overwhelm a product seller. By reviewing the following shipping tips, you can keep your retail operation organized and prepared for the holiday season. Know the Deadlines If you are using a third-party shipping company, get familiar with […]
Thinking of good business ideas is more of an art than a science. It requires a creative mind and the ability to solve consumer problems. Good ideas are sometimes not obvious; you need to know how to harness your thought process to conceptualize them. Fortunately, there are ways to encourage that light bulb moment in […]
For many nonprofit organizations and startups, fundraising is that all-important task that determines whether your charitable or entrepreneurial dreams become a reality. Many wonderful ideas for businesses or nonprofits don’t get off of the ground because of lack of funding. While persistence is a necessary element of fundraising, simply avoiding common fundraising mistakes can speed […]
Startup incubators and accelerators have exploded in popularity over the last decade. They offer startup founders resources, connections and guidance to build and grow their ideas in exchange for an equity stake. An accelerator has a specific time frame when founders are under its umbrella and generate traction with their ideas. Accelerators tend to be […]
There are certain times when you must evaluate what works for your business and what doesn’t. A new calendar year presents an opportunity to make some changes to your policies and procedures, and take advantage of unique tools to increase sales and profits. There are numerous online and offline resources available to small business owners […]
Business plans are often mistakenly considered to be something only created at the beginning of a business. Having a definite business plan is indeed important for a startup company. In today’s world of rapidly changing marketplace conditions, it is equally important to review and adjust your business plan periodically for consistent growth in your small […]
Intellectual property takes on many forms: words, images, sounds, industrial designs and even ideas. As a freelancer, protecting the value of your brand should be at the very top of your to-do list. After all, your intellectual property is what makes you unique and how you stand out in a competitive field. Large companies take […]
It’s natural for businesses to have slow periods where overall market conditions slow and business operations aren’t as strong. In these situations, there are certain actions that you can take to ensure your business makes it through these tough times. Explore Efficiencies An entity should always strive to be as efficient as possible, but a […]
A business plan explains the details of how a business will operate and achieve its goals. You can create a business plan for your company for free and in a relatively short period of time. When and Why You Need a Business Plan A business plan is usually required when a small business is seeking […]
Brainstorming can be a great way to move your small business forward by inspiring creative ideas from your entire work team and acting on those ideas. However, brainstorming sessions often prove to be fruitless. Use these tips to make your company’s next brainstorming session an effective force that grows your business and increases your bottom-line […]
Creating a strong brand identity for your small business significantly increases the power and effectiveness of all your marketing efforts. Think of the successful branding achieved by companies such as Apple, QuickBooks, and IMAX. Mention Apple and people immediately think cutting-edge technology and quality products. Bring up the subject of accounting software and QuickBooks comes […]
Suppose you are working as an independent contractor or freelancer. You have to source clients and manage professional relationships, and if you do it full time, you get to retain control over much of your day-to-day schedule. That makes you sound a lot like a small business owner, but does that mean you should plan […]
Turning away a job opportunity is really, really tough. It means forfeiting a chance to earn money, work for a potentially new client, and gain more exposure as a business professional. However, there are situations where the temptation to accept every job offer must be spurned, and the tough decision to turn down an opportunity […]
With dramatic advances in technology, many companies do majority of their business using a computer or tablet from anywhere with an internet connection. As a result, more and more people have started to work from home instead of going to the traditional office setting. Working from home can be more cost effective, increase productivity, and […]
The name of your business offers a first impression to prospective customers. If you choose a name that is bland or unoriginal, customers will be less likely to think of you when they need the services you offer. On the other hand, if you select a name that stands out and paints your business in […]
The old real estate saying that “location is everything” isn’t far off the mark when it comes to deciding where to set up your new small business. Where you decide to obtain office space can be a critical factor in the success of an entrepreneurial venture, and the decision shouldn’t be made lightly. Four key […]
The world of financial services is complex. With new laws and regulations being continuously added to the books, it becomes difficult to stay abreast of all those changes while effectively managing your own business. With only so many hours in the day, finding time to grasp concepts indirectly related to your endeavors hardly seems possible. […]
Do you have an idea that is dependant on unreliable criteria, like the weather or seasons? Is your concept built around a hot new trend that might fizzle out in six months? Or did you invest way too much money in an idea that simply won’t work? You’re not alone. Fortunately, you don’t have to […]
Technology is rapidly becoming more powerful and less costly, making a paperless workspace much more of a possibility but also a little daunting. Where do you start? Is going mobile a good idea? Should you be using the cloud? What is the cloud, anyway? With all of these questions to consider, a paperless workspace becomes […]
For many first-time founders and small business owners, the concept of writing a business plan is new and they have no idea where to start. It can be a daunting experience, but when you do it right, the payoff can be enormous. What is a business plan? A business plan is the roadmap for your […]
The information in this article is for educational and informational purposes only and should not be relied upon for decision making. Always seek the expertise of a professional advisor or accountant prior to making any decisions. For the same reason you wouldn’t give money to a stranger, banks won’t lend funds to your business […]
First there were co-working spaces, and now there are makerspaces. Makerspaces, also known as hackerspaces or fabrication (fab) labs, are one of the hottest current trends in collaborative consumption and co-working. They are the intersection of tech and making, defined not just by their physical space, but also by entrepreneurs’ ability to build products, share […]
“A good life isn’t a place at which you arrive, it is a lens through which you see and create your world.” This is one of 35 ideas that Jonathan Fields says could change your life. Fields is a dad, husband, serial-entrepreneur, speaker, web show host, and founder of The Good Life Project. For Jonathan, […]
Entrepreneurs often have a natural desire and ability to want to create, to see a gap and want to turn it into an opportunity. When building a startup into an independent business, however, one of the biggest barriers to growth entrepreneurs can face is themselves, mostly by getting in their own way in terms of […]
Choosing a brand name is tough; your small business will have it forever, so it has to be good. As a serial entrepreneur, I understand that pressure. I’ve tackled the brand-name challenge several times and now I can share what I’ve learned along the way. Here are the five key things to keep in mind […]
As a small business owner, the Canada Revenue Agency (CRA) is going to be one of the important relationships in your life. So, like any other significant relationship, you’re going to want to keep your relationship with the CRA sweet – and you’re going to have to work at it. The Work You Have to [...]
Watching Star Wars again the other day I realized the similarities of Lando Calrissian to small business owners. Remember him? He, too, was managing a thriving small business and clearly understood the power of running a business in the cloud. Overall he seemed to be a suave businessman looking to succeed and keep his employees’ [...]
Starting a new business can be very demanding, and the first year is the ‘make-or-break’ period for business owners, regardless of the size of the business. Covering all bases in the first year is integral for business longevity. The following tips for small business owners to ensure they’re setting themselves up for success: 1. Develop […]