Starting a business for many people is about fulfilling a dream. Whatever your dream is, you need money to make it a reality. How much money do you need, exactly?
When you’re starting your own business, one of the first things you’re probably thinking about is what a great idea you have and how it’s going to make you rich beyond your wildest dreams.
Loud music came spilling into the street as curious onlookers lined up outside. “GRAND OPENING” was spelled out in giant glittering letters on the huge banner above the sidewalk.
My neighbor couldn’t understand why his business failed, taking his life savings with it. “Who’d have thought that nobody would want my Whack-a-Mole Pole?”
Before you begin shopping for commercial space or even figure out a name for your business, you have a lot of planning to do when you want to start a new company. You must be able to answer specific questions about this new business before you are ready to take action.
If you want to start a business, you should register it with the Canadian government before you start setting things up to open. In many cases, you will be required to do so by law. This isn’t a complex process, but it can often be confusing for many entrepreneurs who aren’t sure what steps are necessary or who they must contact.
For many more reasons than just protection of your assets, the structure you choose for your business may be as important as the business itself.