What To Ask Before Starting A Business

Questions To Ask The Experts Before Starting A Business

You’re business savvy. You work hard and you’ve made the decision to start your own business. You know you’ve got what it takes. Successful people who have gone before you would be able to give you some really good advice. Here are some questions you might want to pose to successful entrepreneurs prior to getting started.

Should I incorporate?

That depends on some questions you should honestly ask yourself:

  • What kind of personal tax incentives are there if I incorporate?
  • Am I thinking this will be what I want to do for the long haul?
  • Am I going to be the only owner or will I have investors and/or partners?
  • What are the business advantages of incorporating?
  • Are there any issues surrounding liabilities such as product or credit liability?
  • Incorporating costs money: Is it worth it in the long run?

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Laura Bio Headshot

Laura Harvey is an entrepreneur herself as the owner of Ontario Business Central Inc. Her passion has always been about supporting the entrepreneurial spirit and advancement within Canada.

Laura authors in-depth blogs for Ontario Business Central assisting entrepreneurs and business owners to start, manage and grow their businesses. She has almost 30 years of expertise as a corporate specialist and 25 years of being an entrepreneur. Laura has the unique position of supporting a community that she also belongs to. She walks the walk right along with you.

You can find Laura on Linkedin and Twitter using the links below.

Checklist For Your New Business

A Helpful Checklist For Starting A Business

You can feel the entrepreneurial spirit coursing through your veins. You want to be your own boss, set your own hours and play by your own rules. Here are some tips that may be a starting point for you when you’re mapping out your plan to become your own boss.

 

Come up with a business plan

Don’t try to fly by the seat of your pants when it comes to business ventures, especially your own. When sitting down to write a business plan, there are some things to take into consideration:

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Laura Bio Headshot

Laura Harvey is an entrepreneur herself as the owner of Ontario Business Central Inc. Her passion has always been about supporting the entrepreneurial spirit and advancement within Canada.

Laura authors in-depth blogs for Ontario Business Central assisting entrepreneurs and business owners to start, manage and grow their businesses. She has almost 30 years of expertise as a corporate specialist and 25 years of being an entrepreneur. Laura has the unique position of supporting a community that she also belongs to. She walks the walk right along with you.

You can find Laura on Linkedin and Twitter using the links below.

Starting A Business In Canada While On A Work Permit

Is It Possible To Start A Business In Canada While On Work Permit?

Canada is a great place to live, work and play. If you’re here on a work permit and have thought about staying in the country, starting your own venture might be in the cards. However, there are some things you should know before working towards that goal. You want to make sure you’re not moving in the wrong direction.

 

Work permits in Canada are issued for specific jobs with a specific employer for a set time. Starting your own business here while on a work permit would be breaking the law since you’d be violating the terms of your work permit.

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Laura Bio Headshot

Laura Harvey is an entrepreneur herself as the owner of Ontario Business Central Inc. Her passion has always been about supporting the entrepreneurial spirit and advancement within Canada.

Laura authors in-depth blogs for Ontario Business Central assisting entrepreneurs and business owners to start, manage and grow their businesses. She has almost 30 years of expertise as a corporate specialist and 25 years of being an entrepreneur. Laura has the unique position of supporting a community that she also belongs to. She walks the walk right along with you.

You can find Laura on Linkedin and Twitter using the links below.

Responsibilities To Your Former Company Partners

What Are My Responsibilities To My Former Partner(s) After Leaving My Company?

For whatever reason, you’re wanting to leave the company in which you were a partner. With that you’re wondering if you have any obligation to your former partner(s). The below information will help guide you through this process.

 

Obligations

If you’ve actually been a director in the company, there are some things you need to know. If you were a director, you’ll have to ensure company taxes have been appropriately filed until the dissolution of the company. You can’t just leave without doing it properly. A director has to make it publicly known at a meeting where happenings are documented that he is resigning as a director. Having it in the minutes of the meeting is important. This information should also be sent to the appropriate authorities like any lending institutions, government agencies and so on.

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Laura Bio Headshot

Laura Harvey is an entrepreneur herself as the owner of Ontario Business Central Inc. Her passion has always been about supporting the entrepreneurial spirit and advancement within Canada.

Laura authors in-depth blogs for Ontario Business Central assisting entrepreneurs and business owners to start, manage and grow their businesses. She has almost 30 years of expertise as a corporate specialist and 25 years of being an entrepreneur. Laura has the unique position of supporting a community that she also belongs to. She walks the walk right along with you.

You can find Laura on Linkedin and Twitter using the links below.