(NC) -- As a newcomer to Canada, you may be considering ways to start your own business. This can be exciting, but it can also be demanding. When you are new to Canada, knowing what is involved and finding the right information is important. Here are some tips that can help make your business vision a reality:
Start with a plan
Business planning is important for anyone starting a business. This is a written document that describes your business and shows potential investors or lenders that your idea has the potential to succeed. It also helps you plan for the future growth and development of your business. Canada Business Ontario offers a free Business Plan Guide that is available in over 10 different languages.
Determine what is involved
To complete your business plan, it is important to understand the start-up requirements. Licensing, registration and tax accounts may be needed before you can open your doors. To determine what steps will apply to your specific idea make sure you have a clear understanding of what the business will be. Many of the requirements will be based on the individual choices you make about your business type, location and structure.
Get the right information
Finding the right information can involve a lot of time and research. Canada Business Ontario is there to help make it easier for you. This Government of Canada service offers information on federal and provincial business programs, services and regulations—all at no charge.
The Business Guide for Newcomers to Canada is designed to help entrepreneurs who are new to Canada learn about starting a business. The guides are free of charge and business information is available in English or French, by calling 1-888-576-4444. You can also contact them for access to free secondary market research.
Starting a business in Canada can be both rewarding and challenging no matter where you come from. Some of the most successful Canadian companies were started by newcomers. It all begins with a vision, planning and the right information.
Canada Business Ontario is a program within the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). For further information on federal economic development programs and services for southern Ontario please visit, FedDevOntario.gc.ca, or contact us by email at info@FedDevOntario.gc.ca or call toll free, 1-866-593-5505.