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How to Start a Business in Canada

Presented by Roger PierceNewcomerStartup.com

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Supportive government Entrepreneurship culture Affordable Access to US market Diverse population = opportunities

Why startup in Canada?

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Control your destiny Pursue your passion Earn a lot or a little money Make a difference Be the boss

Benefits of business

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Long hours, stress Financial risk Takes time to get going Responsible for others No guaranteed income

Disadvantages of business

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Passion Ambitions in life Work preferences Personal priorities

Step 1: What about you?

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Personal goals Financial goals What will your business achieve? Who will it serve?

Step 2: Set goals

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3 ways to enter business:1. Buy one 2. Buy franchise3. Start one

Research your idea◦Customers, competition

Decide

Step 3: Research

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Write a Business Plan Calculate Startup Budget

◦Capital costs +◦Operating costs x 6 months

2 years & 10 pages

Step 4: Plan

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Savings Friends & family Banks Investors Programs Customers & suppliers

Step 5: Find the money

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1. Professional advisors (banker, lawyer, accountant, coach)

2. Peer advisors (entrepreneurs, mentors, colleagues)

3. Paid help (employees, suppliers, freelancers)

Step 6: Get help

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Set it up Open for business Promote it Focus on selling Learn, adjust, grow

Step 7: Launch!

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Spending too much Overestimating revenue Waiting for customers to find you Doing it all yourself Working in your business

Avoid these mistakes

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Canadabusiness.ca Getgrowingforbusiness.com Bizpal.ca Cfa.ca Entrepreneur.com

Websites

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How to Start a Business in Canada

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