Whether you should operate your business as a corporation, partnership, sole proprietorship or cooperative depends on your particular situation and your particular needs. Among the factors to consider are the benefits of incorporating and the implications that incorporation can have for your business. If you decide to incorporate, you will then have to choose between […]
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How to Define Your Target Market
To build a solid foundation for your business, you must first identify your typical customer and tailor your marketing pitch accordingly. Given the current state of the economy, having a well-defined target market is more important than ever. No one can afford to target everyone. Small businesses can effectively compete with large companies by targeting […]
Inc. or Ltd.: Which sounds better?
Choosing the right structure can have serious consequences for their business. Most entrepreneurs are very creative and they get right in there and pursue a dream, and they do it without thinking about a structure. There are three common forms of business ownership in Canada – a sole proprietorship, which is owned by one person; […]
Tips from Successful Business Owners
You have a great business concept. You’re passionate about your business idea. Now, what does it take to ensure your great idea becomes a successful, thriving business? According to successful businesses, there are a number of key factors that can contribute to the success of a new business. Great Business Concept. Successful business owners agree […]
Is your business protected? 5 insurance needs to consider
Thinking about risks and liability isn’t about doom and gloom: it’s a healthy business practice to protect people, business, and assets. Consider these five common areas of potential insurance needs for small businesses: Thinking about risks and liability isn’t about doom and gloom: it’s a healthy business practice to protect people, business, and assets. Consider […]
8 critical factors that can drive business success
Along with your idea, one of the most important pieces of information in your business plan is the knowledge you gather about the market you’re in, and how well you can demonstrate the financial viability of your idea. Listed below are the top eight critical factors driving entrepreneurial success, as identified from research by the […]
Benefits of Registering a new Ontario Corporation.
Why should I incorporate? One of the most frequently asked questions by entrepreneurs starting a new business is: “Should I incorporate?” The answer to this question is usually: “That depends on your particular situation and your particular needs.” Among the factors to consider in making these decisions are the benefits of incorporating (versus operating the […]
Make sure there is a market for your business
This section lets you make sure there is a market for your business. It lists what you need to do, know and understand to make sure there is a market for your business
Explain your business idea
You need to check your new business idea to see if it will work, and also to see if enough people will want it. What you need to do When explaing your business isea, you must make sure that you can: a Clearly describe what your business is going to be. b Explain why you […]
Primary market research
Primary research is original information gathered through your own efforts (or on your behalf by a hired research firm) to respond to a specific question or set of questions. This information is normally gathered through surveys, observation, or experimentation. The following are examples of questions that can be addressed through primary research: Who are my […]
