Dominated by service industry, Canada has the 10th largest economy in the world. The high level of economic freedom has made the country the home to some of the largest businesses across the globe.
Are you thinking of starting a new business in Canada and you are in need of information on how? This guide will explain the process from start to the end.
When setting up the business, ensure that your basis are covered and follow this steps
The first two steps needs to be done before hand but the third step is the major discussion in the article.
The first stage is to plan your business
To be successful in your business, a solid business plan is crème. Before you start penning down the plans, you will need to;
- Carry out market research and Analysis
- Understand how well you will the business-customer interaction can help marketing and sales
- Choose your preferred business type
- Name your business
- Understand regulations of the business
The second stage is to organize your business finances
The success of your business is also dependent on how well you plan to manage finance. You can seek financial help from government grant, start-up loans etc. But understanding the financial concept of the business is the most important.
Stage 3 which is the major concern of the article is to register your business
You must be proactive and careful to get the best out of this stage.
The first stage of this step is to incorporate online;
Here are the steps you will follow if you want to incorporate your business
- Give your business a name (a corporate name)
- Complete the articles of incorporation
- Set up your initial registered office address and the first board of directors for the business. Your registered office address is where official documents and your corporate records must be kept. Also directors must reach eligibility requirement.
- Fill the forms and pay
- Application processing (ensure you have done all the needful to avoid getting a call back letter or having you form abandoned)
Reasons for incorporating include but are not limited to;
- To get maximum tax advantage
- Reduce your personal liability as the business owner
- Get easier access to capital funding etc.
Having a website is very important for your business development and growth. It serves as the online office for your business, your contact us page help you generate more leads, and with the website you can use call to actions to get data from your clients.
www.shopify.comis a good commerce platform that allows you start, grow and manage your business with ease. With the platform;
- You will create and customize your store
- Sell in multiple places
- Manage your business
Open social media accounts
The world itself is online (lifestyle of people revolve around the social media), with billions of social media users worldwide and millions of social media users in Canada, starting a business without having social channels can be a setback in the growth of the business.
Open different social media accounts like a Facebook page, twitter, Instagram account etc.
Open an online number
Remember, this is business and not your personal job. You can have a local phone number and a toll free phone number depending on your choice. But the bottom line is to have a channel that will make communication easier between you and your clients. eVoice etc. will help you get your business number.
Note; when you choose your business phone number, create a custom greeting, add extensions for the employees, change the default voicemail message and “on hold music”
Do you need any other thing to start? No, you are good to go. Start generating leads which will result in making sales.