Know Before You Go

8 Steps to Small Business Success for Newcomers To Canada

[fa icon="calendar"] 9/5/17 2:00 AM / by Prepare for Canada

How to set up a small business in Canada as a Newcomer

Prepare for Canada’s “Small Business Toolkit” is a checklist of everything you need to know and do to start a small business in Canada.

1. Market. Ask yourself if there is a need for your small business in your community? What is your target market? Is the industry in demand? Learn more

2. Planning. A business plan is an essential document in launching a small business in Canada. Do you understand Canadian business plan standards? Learn more

3. Financing. Most small businesses take time to start earning a profit. Do you have financing in place to not only start your business, but keep it afloat? Learn more about obtaining financing

4. Sales and Marketing. Do you know how to effectively market your business in today’s media savvy climate? For example, social networking is a prime source of promotions today … do you have a strategy for this? Learn more

5. Employee Relations. Hiring and retaining staff can be one of the most costly, frustrating parts of owning a small business. Learn more

6. Recordkeeping. From accounting to paying taxes, a successful business is organized and maintains its records. Learn more

7. Technology. Utilizing the right technology, from back-end software to a great web presence, will help you succeed in your business. Learn more

8. Personal Development. Do you have the skills and leadership to keep your business running? It’s a question few business owners ask themselves. Finding a mentor can help. Learn more about mentoring

Topics: working in canada, small business