Transcript How to Start a Business in Canada

Presented by Roger Pierce
NewcomerStartup.com
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Supportive government
 Entrepreneurship culture
 Affordable
 Access to US market
 Diverse population =
opportunities
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Control your destiny
 Pursue your passion
 Earn a lot or a little money
 Make a difference
 Be the boss
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Long hours, stress
 Financial risk
 Takes time to get going
 Responsible for others
 No guaranteed income
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Passion
 Ambitions in life
 Work preferences
 Personal priorities
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Personal goals
 Financial goals
 What will your business achieve?
 Who will it serve?
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3 ways to enter business:
1. Buy one
2. Buy franchise
3. Start one
 Research your idea
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◦ Customers, competition
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Decide
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Write a Business Plan
 Calculate Startup Budget
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◦ Capital costs +
◦ Operating costs x 6 months
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2 years & 10 pages
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Savings
 Friends & family
 Banks
 Investors
 Programs
 Customers & suppliers
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1.
2.
3.
Professional advisors
(banker, lawyer,
accountant, coach)
Peer advisors
(entrepreneurs,
mentors, colleagues)
Paid help (employees,
suppliers, freelancers)
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Set it up
 Open for business
 Promote it
 Focus on selling
 Learn, adjust, grow
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Spending too much
 Overestimating revenue
 Waiting for customers to find you
 Doing it all yourself
 Working in your business
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Canadabusiness.ca
 Getgrowingforbusiness.com
 Bizpal.ca
 Cfa.ca
 Entrepreneur.com
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Free advice at NewcomerStartup.com
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