Do you know that Canada is the third-best country in the World for starting your own business?
The procedure of registering a business in Canada is very simple. It can take just a few days. In Canada, compared to many other countries, there is less bureaucracy and less interference from the government so far as business is concerned. This is the reason why many immigrants embrace the idea of self-employment, so did I when I moved to Canada from Ukraine.
Before moving Toronto, I worked in an advertising agency in my home country. I was a craftsman in the workshop making outdoor signs, banners, and all kinds of billboards. For 7 years I gained a lot of experience. My company participated in various contests and trade shows. I took a two-month course in Europe learning different metal and plastic processing techniques applied in sign making.
I was dreaming about having my own business. I knew everything about making outdoor advertising inside out. When I sold my car and my apartment in Ukraine, I had very little money to start a business here in Canada. I arrived in Toronto with just a couple of suitcases and did not even use any cross country moving services.
It has been almost 5 years in Toronto and recently I have added the second manufacturing point to my business. I will share my ideas here on how to start and grow your private company.
Where to find the money?
As I said before, I sold everything I had before moving Toronto. It was not enough, because the cost of living is very high in Canada. I found a job in a sign-making workshop in Markham. I wanted to know how it all worked here in another country. I was building my skills, getting acquainted with people, and looking for as much information as I could. I learned about small business grants here in Canada and it looked like a great opportunity. After that, I started working on developing a business plan. Eventually, my project was approved and I received financial support. It was time to start!
What can I do to make money?
Many people want to be independent, but not all of them can identify the needs of the customers. In my opinion, if you want to be successful, you either go and learn new skills that are in demand. On the other hand, you can master the skills that you already have and find your niche in your community. In my case, I loved my job very much and I saw my potential in the new community. The technologies that I used in sign-making are more up-to-date and innovative, allowing products to meet higher standards.
How can I grow?
It is not that hard to start a business, really. The objective is to keep going and earn more. There is nothing that can guarantee your success 100%. There are many examples when a company is on the rise at the beginning but fails after. This happens because of inadequate planning and not being able to adapt to changes.
- Do I know my community well enough to launch a new product?
- Do I understand local market trends?
- Is there a lack of particular services around?
- What are people are willing to pay for?
Those are the questions you work on all the time, not just once when you start the business.
The key to my success.
In just one year I saw the need to have a larger workshop, so I had to rent a different place and relocate the power tools. It was not an easy task because there was a problem finding moving services Toronto that would handle the heavy load. After 5 years of working in the GTA market, I am opening the second office and a second workshop.
I owe my success in developing my business to my constant attention to what is going on. The business society is very competitive in Canada. You have to keep moving forward. I build my skills, I meet people, I attend community meetings and I learn about new technologies all the time. I took a Tax Academy course with an HR block to have a better understanding of the tax laws and business finance.
To sum up, you have to be alert all the time, or you will be swallowed by someone who is faster and smarter.
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