Starting a Business
The road to starting a business can be a bumpy one. If you’re not sure where to start, or what to do next, these tools and resources can help you pave the way.
- Checklist for starting your business
- Understand the basics of owning a business
- Find out if entrepreneurship is right for you
Evaluate and Develop Your Idea
Doing some research now can save you time and money. Explore the realities as well as the possibilities.
Conduct Market Research
Your product or service needs a market. Learn the what, why and how of this critical step.
- Determine if your idea is viable with the Market Research Checklist and Market Research Resources Guide
- Learn how to conduct market research
- Find demographic or census data
Write Your Business Plan
Summarize and document your plan to create a roadmap. Keep it realistic and concise; your business plan will help you explain to others what you are doing and how you will achieve your goals.
- Develop a business plan
- Avoid these 10 common business plan mistakes
- View sample business plans and templates
Explore Financing Options
Most new businesses need start-up money. Identify a source that aligns with what you need.
- Discover what business financing options are available to you.
- Apply for a federal program that provides funding to Canadian small businesses
- Five tips for writing a successful funding proposal
Choose a Business Structure
Each structure has different legal and financial implications. To learn about the advantages and disadvantage of each, visit the Business Structures Information Sheet.
A lawyer or chartered accountant can also help you determine which structure is most appropriate for you.
- Selecting a business structure
Set Up your Business
Once you have your roadmap, it’s time to make it legal.
- Decide on and request a name for your business or organization
- Register your business or organization in B.C.
- Guide to Federal Incorporation
- Obtain a business number
- Get a BCeID to access on-line government business services
Permits and Licences
Depending on your business activities and location you may be required to obtain various permits or licences and or complete registrations from the local, provincial and or federal government.
Support for Small Business
Look no further for useful small business information and resources.
Source for this Article
This very useful guide was written and posted on the Province of BC website linked here.