I have been doing research on how to start a small business. Let me tell you folks, this is not easy to do! Part of the problem is that the companies that register small businesses are all private in Alberta so you really have to shop around to make sure that you're not paying through the nose to register your business. Then there are the issues of what type of business you want to open. Is it a sole proprietorship? An incorporated company? Which is better? Then you have to make sure that you're not using someone else's company name and you have to reserve the name you want while all the paperwork goes through. Of course all this stuff costs money. Also, there are GST accounts to consider. If you don't expect to make more than $30,000.00 per year, you don't have to have a GST account, but they do suggest you get one anyway. Why? Who knows...
I didn't realize how much a person has to invest to start a business. Just opening the business can cost you well over $300.00 and that's not including whatever the bank needs from you as a balance in your business account. Yuck...
Well, we'll just keep plugging along here and see what we can do. Thank you for all the suggestions for naming my company. I haven't decided on a name yet. I'll let you know when I do.
ROCK 2017!!
7 years ago
3 comments:
Hi! I randomly found your blog on Google, and I'm looking to start a business as well. Well, I'm actually looking to buy a business. I was wondering how yours is developing, and if you happen to know of any sites that offer businesses for sale? Thanks so much.
Hi Lucy...
My business is going slow, but steady. The first year is always tough...I think you have to prepare yourself for that. I don't know of any places where you can buy businesses. I would say check your local paper and see if anything grabs you. Or talk to a real estate agent, sometimes they know of businesses for sale. Thanks for visiting!
Yeah, I'm a little nervous about the first year. Thanks the suggestion. I did a little more research and found this site called Biztrader.com. I've noticed it has a good selection of businesses and looks like a great place to find a small business on the Internet.
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