Step 1: Make Sure Running a Small Business is Right for You
It takes time, commitment, a good idea, the right personality and at least a few basic business skills to start and run a small business successfully.
The Small Business BC website provides direction on how to evaluate and test your idea for a new small business.
- To get started, see their “how to” guide on evaluating your business concept.
- The Business Plan Checklist makes sure you’ve completed your research and thought through your idea.
Another great resource is Small Business BC’s list of Frequently Asked Questions, which answers the most common inquiries heard from entrepreneurs when they’re first starting a business. If you have an idea and don’t know where to begin, visit: www.smallbusinessbc.ca/faqs
If you’re interested in starting a business, but you just don’t have that great business idea yet, Small Business BC can suggest a number of resources to help you research key industries, emerging trends, and local competition.
Ask For Advice
If you are not sure which business structure will be best for your business, we recommend you talk to a lawyer and an accountant to ﬁnd out what each type requires, both legally and ﬁnancially.