Steps to Starting a Business

From Susan Ward,

Your Guide to Small Business: Canada.
FREE Newsletter. Sign Up Now!
Part 1: Starting a Business in Canada Step-By-Step
Starting a business may seem oerw!elming at "irst. #!ere are $ust so many t!ings to do! #!is guide to t!e
starting a business resour%es on t!e Small Business Canada site is designed to !elp you ma&e your dream
o" starting a business a reality.
'a%! step o" t!is starting a business guide lin&s to detailed in"ormation t!at will s!ow you !ow to %omplete
t!at step.#!e steps are roug!ly in order but you don(t need to "ollow t!e order slais!ly w!en you)re starting
a business. *t really doesn)t matter i" you %omplete step +, "or instan%e, be"ore you %omplete step ,.
1) Come up with a good business idea.
Follow t!e lin& aboe to "ind %olle%tions o" small and !ome based business ideas you %an browse t!roug!,
!ow to %ome up wit! winning business ideas o" your own, and !ow to test t!e iability o" your business idea
on%e you)e %!osen one.
2) rite a business p!an.
-y Writing a Business Plan series t!at starts wit! t!is Business .lan /utline will lead you t!roug! t!e
pro%ess o" writing ea%! se%tion o" t!e business plan.
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You(ll "ind more in"ormation, in%luding lin&s to sample business plans, in t!e Business .lans se%tion o" t!is
Web site.
') Choose a winning name (or your business.
W!en %!oosing a business name, t!ere are two t!ings to %onsider4 t!e business name(s mar&eting potential
and its legal elements. #!e lin& aboe will ta&e you to t!e in"ormation you need to %!oose t!e best possible
business name "or your new business w!en you(re starting a business in Canada.
You %an also isit t!e Small Business: Canada Forum "or !elp brainstorming a %at%!y name.
)) Choose a (orm o( business.
W!at "orms o" business %an you %!oose to legally stru%ture your business w!en you)re starting a business in
Canada5 W!at are t!e adantages and disadantages o" ea%! o" t!e "orms o" business5 #!ese resour%es
will !elp you %!oose t!e best "orm o" business "or your new business.
*) Register your business name.
Business name registration is a legal re6uirement "or almost all businesses in Canada. Find out w!et!er or
not you !ae to register your new business)s name and learn all t!e details about business name
registration "or starting a business in Canada !ere.
+) Find sma!! business (inan&ing.
W!ile many new small businesses are "inan%ed out o" t!eir owners( po%&ets, many ot!ers need an in"usion
o" "unds "rom ot!er sour%es to get o"" t!e ground. #!is page presents t!e main small business "inan%ing
options "or "inan%ing a new business in Canada.
,) -et a business !i&ense.
W!ile not ne%essary "or all businesses, many new businesses will need to get business li%enses be"ore t!ey
%an operate legally wit!in t!eir muni%ipalities. *" your %ity or town doesn(t !ae a Web site, you %an "ind t!e
in"ormation in t!e blue pages o" your p!one boo&.
#!e steps "or starting a business in Canada %ontinue on t!e ne7t page. Cli%& to read about t!e "ie ot!er
steps you need to go t!roug! w!en you(re starting a business, in%luding registering "or t!e GS#89S#,
registering "or .S#, and getting your business re%ords o"" to a good start.
Part 2: Starting a Business in Canada Step-by-Step &ontinued
*" you !ae "ound t!is page t!roug! sear%!, t!is is t!e se%ond page o" a guide to starting a business in
Canada w!i%! e7plains t!e steps you need to "ollow w!en starting a business and lin&s to additional
in"ormation to get your new business up and running. You will "ind si7 ot!er steps to starting a business in
Canada on page : o" t!is arti%le.
.ore steps (or starting a business in Canada:
/) Register (or the -S012S0.
;lt!oug! GS# registration is mandatory "or all businesses in Canada, t!ere are e7%eptions. Find out w!o
!as to register "or GS#, w!y oluntary GS# registration %an be adantageous to your business, !ow GS# in
Canada wor&s and w!at t!e GS# registration pro%ess is wit! t!ese GS# 9S# resour%es.
3) Register (or the PS0.
Be"ore starting a business, you may also need to register as a %olle%tor o" retail sales ta7 <2S#=, also &nown
as proin%ial sales ta7 <.S#=.
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>o You 9ae to 2egister "or .S# or 2S#5 *n proin%es su%! as /ntario and B.C., proin%ial sales ta7
registration is %alled registration as a endor. #!e .S#82S# library in%ludes lin&s to proin%ial sales ta7
in"ormation in arious proin%es, to ma&e it easier "or you to register "or, and learn !ow to %olle%t and remit
proin%ial sales ta7 in your proin%e.
19) Prepare to ha:e emp!oyees.
W!en you(re starting a business, !iring employees may be t!e "urt!est t!ing "rom your mind, but it(s
amaAing !ow 6ui%&ly a business %an grow. ;nd on%e you !ae employees, your business will probably need
to register wit! t!e Wor&er(s Compensation Board in your proin%e. -y Guide #o Wor&ers( Compensation
*nsuran%e e7plains w!o !as to register "or Wor&ers( Compensation insuran%e and !ow to register4 Wor&ers(
Compensation *nsuran%e !as lin&s to t!e Wor&er(s Compensation Boards in eery proin%e, w!ere you %an
register online in some %ases.
Find out more about !iring employees, employment standards, '.*. and ot!er employee issues in my 9uman
2esour%es -anagement Bibrary. #!e .ayroll #a7es se%tion in%ludes 'mployer(s Guides, #C slips, t!e 2/' 3
all t!e "orms and details you need to manage your employees( payroll dedu%tions.
11) Buy other #inds o( business insuran&e.
.rote%t your new business by ma&ing sure t!at you !ae t!e &inds o" business insuran%e you need. >o You
9ae #!e Business *nsuran%e You Need5 e7plains w!at property, liability, business interruption, &ey people,
and disability insuran%e are. Find out more about t!ese types o" business insuran%e in t!e *nsuran%e library.
Bearn about !ome3based business insuran%e and !ow to sae money on t!e %ost o" business insuran%e in
general in 9ome3Based Business *nsuran%e.
12) -et your business re&ords o(( to a good start.
*" you &eep good re%ords "rom t!e "irst moment you(re starting a business, t!ings su%! as a%%ounting and
paying ta7es be%ome so mu%! easier. Get your business re%ords o"" to a good start wit! D Ways to -a&e
2e%ord -anagement 'asy and D Ways to Control C!aos in Your Small Business.
Want to &now more about a%%ounting and8or boo&&eeping5 See t!ese ;%%ounting and Boo&&eeping
2esour%es. Bearn !ow to set up "iling systems and !andle re%eipts wit! t!ese >ata -anagement arti%les.
Find out more about business e7penses and ta7 dedu%tions in t!is %olle%tion o" arti%les on Small Business
#a7 >edu%tions.
here to (rom here;
#!e Starting a Business F;E proides answers to %ommon 6uestions su%! as w!et!er or not you need a
business ban& a%%ount and !ow to "ind small business start up money. Fisit t!e Small Business Finan%ing
se%tion "or in"ormation on small business grants and loans. Browse t!e Starting a Business library to read
ot!er arti%les about starting a business. /r i" you pre"er, sign up "or t!e Starting a Business in Canada
Course w!i%! %oers t!e topi%s outlined in t!is arti%le.
#wo ma$or %on%erns "or people starting a business are management and mar&eting. #!e -ar&eting and
Business -anagement !ubs on Small Business: Canada %ontain many arti%les t!at will !elp you mar&et
your produ%t or seri%e and manage your new business su%%ess"ully.
#!ere is also a Business #erms Glossary t!at you may "ind use"ul. Best o" lu%& in your new enture!
0he riting a Business P!an Series
#!in&ing o" writing a business plan5 9ere is a business plan outline, listing t!e se%tions o" t!e business plan
in t!e order in w!i%! t!ey will appear in your %ompleted business plan wit! a brie" e7planation o" ea%!
se%tion to !elp you get organiAed and guide you t!roug! t!e writing a business plan pro%ess.
0he E$e&uti:e Summary
W!ile appearing "irst, t!is se%tion o" t!e business plan is written last. *t summariAes t!e &ey elements o" t!e
entire business plan.
0he %ndustry
;n oeriew o" t!e industry se%tor t!at your business will be a part o", in%luding industry trends, ma$or
players in t!e industry, and estimated industry sales. #!is se%tion o" t!e business plan will also in%lude a
summary o" your business(s pla%e wit!in t!e industry.
.ar#et 6na!ysis
;n e7amination o" t!e primary target mar&et "or your produ%t or seri%e, in%luding geograp!i% lo%ation,
demograp!i%s, your target mar&et(s needs and !ow t!ese needs are being met %urrently.
Competiti:e 6na!ysis
;n inestigation o" your dire%t and indire%t %ompetitors, wit! an assessment o" t!eir %ompetitie adantage
and an analysis o" !ow you will oer%ome any entry barriers to your %!osen mar&et.
.ar#eting P!an
; detailed e7planation o" your sales strategy, pri%ing plan, proposed adertising and promotion a%tiities,
and produ%t or seri%e(s bene"its.
.anagement P!an
;n outline o" your business(s legal stru%ture and management resour%es, in%luding your internal
management team, e7ternal management resour%es, and !uman resour%es needs.
<perating P!an
; des%ription o" your business(s p!ysi%al lo%ation, "a%ilities and e6uipment, &inds o" employees needed,
inentory re6uirements and suppliers, and any ot!er appli%able operating details, su%! as a des%ription o"
t!e manu"a%turing pro%ess.
Finan&ia! P!an
; des%ription o" your "unding re6uirements, your detailed "inan%ial statements, and a "inan%ial statement
analysis.
6ppendi&es 6nd E$hibits
;ny additional in"ormation t!at will !elp establis! t!e %redibility o" your business idea, su%! as mar&eting
studies, p!otograp!s o" your produ%t, and8or %ontra%ts or ot!er legal agreements pertinent to your business.
Each article linked above is part of this Writing A
Business Plan series and explains how to
research and Best Business /pportunities ,??D
From Susan Ward,
Your Guide to Small Business: Canada.
FREE Newsletter. Sign Up Now!
Part 1: 0he Best Business <pportunities (or Starting a Sma!! Business
W!en it %omes to t!e best business opportunities, %ontradi%tion is t!e &ey word "or ,??D. W!ile we)ll see
eer3in%reasing %onspi%uous indulgen%e, buying patterns will also re"le%t more o" an emp!asis on !ealt!
t!an eer be"ore. #!e same people going out "or %!eese%a&e will be pi%&ing up more yogurt on t!eir way
!ome "rom t!e gym.
#!e best business opportunities o" ,??D are t!ose opportunities t!at meet people)s needs on one end o" t!e
s%ale or t!e ot!er. 9ere, in no parti%ular order, are my predi%tions "or t!e best business opportunities "or
,??D, business opportunities wit! t!e best potential "or pro"it and growt!.
<For more o" w!at * %onsider to be t!e best business opportunities, !ae a loo& at t!e sidebar4 t!e -ore
Business /pportunities bo7 lists arti%les t!at present some o" my past predi%tions "or t!e best business
opportunities o" t!e year.
0he Best Business <pportunities (or 299,
1) 4utra&euti&a!s
Consumers want more t!an $ust nutrition "rom t!eir "ood G t!ey want !ealt! bene"its, too. We don)t $ust eat
tomatoes be%ause t!ey)re tasty, but be%ause we &now t!ey)re "illed wit! ly%opene w!i%! !elps "ig!t prostate
%an%er. #!e mar&et "or nutra%euti%als and "un%tional "oods, says ;gri%ulture Canada, is Hlarge, global and
growingI. *n ,??C Canada(s "un%tional "ood mar&et was estimated to be wort! J,.D billion. Find out more
about t!e &inds o" nutra%euti%als you mig!t produ%e !ere.
2) 6gritourism
;gritourism is anot!er rapidly growing industry4 t!ere)s more interest in "arm a%ations and "arm3related
a%tiities t!an eer be"ore. *" you !ae a "arm, it)s easy to get in on t!is best business opportunity. ;dd a
pi%ni% site and playground to your "arm and open a boot! "or on3site sales or %reate an eent su%! as a !ay
ride or artist)s retreat. #!ere)s also a great opportunity "or tourist agen%ies in %reating agritourism pa%&ages.
#!e "astest growing part o" t!e industry5 Winery tours.
') 2uman Resour&e Pro(essiona!s
/ne o" t!e predi%ted problems o" t!e "uture is already !ere G a labour s!ortage. *n "a%t, t!e CF*B <Canadian
Federation o" *ndependent Business= %alls t!is t!e number one problem "a%ing S-'s t!is year.
9ead!unters, re%ruiters, employment agen%ies 3 turn t!is top problem into a top business opportunity by
being t!e person or people able to sole sta""ing problems "or small and medium3siAed businesses.
)) Persona! .emoirs
* don)t t!in& many o" us spend mu%! time t!in&ing about writing our li"e stories. But t!e li"e stories o" our
parents or grandparents G now t!at)s anot!er story. -any o" us would appre%iate !aing a re%ord o" our
loed ones) lies be"ore it)s too late, but don)t !ae t!e time or talent to do it ourseles. 'nter t!e
memorialist, w!o will interiew t!e sub$e%t and %ra"t t!ose stories into a !andsomely bound boo&. -emoir
%ompanies also prepare all &inds o" ot!er personal stories, "rom pregnan%y memoirs t!roug! pet !istories.
*) Reno:ation .anagement
You already &now t!at trades people are going to !ae anot!er superlatie year as t!e renoation boom
%ontinues. Conersely, t!is means t!at many %onsumers are going to !ae bad years <or at least e7tremely
stress"ul, irritating ones= as t!ey struggle to get t!roug! w!ateer renoation t!ey !ae planned. *" you)re a
super3organiAed person w!o %an get t!e rig!t trades people to s!ow up to wor& on time and "inis! t!eir wor&
by set dates, t!is %ould be a golden business opportunity "or you.
#!ere are "ie more o" t!e best business opportunities "or ,??D on t!e ne7t page. Cli%& to %ontinue reading...
Part 2: .ore o( the =ear>s Best Business <pportunities
W!at ot!er business opportunities are e7%ellent %!oi%es "or t!ose interesting in starting a business or
inesting in one t!is year5 9ere are "ie more o" w!at * %onsider to be t!e best business opportunities o"
,??D:
+) Care Consu!ting
; parent !as gotten to t!at %ertain age and stage w!ere !e really s!ouldn)t be liing on !is own anymore.
But w!at are t!e options aailable and !ow mu%! do t!ey %ost5 Busy %!ildren don)t !ae t!e time to
inestigate t!em all or een &now w!ere to "ind out. .roiding t!e answers and !elping wit! t!e
arrangements is an e7%ellent business opportunity.
,) Baby gear
We may !ae a low birt!rate but we sure do loe to lais! attention and money on t!e %!ildren we do !ae.
From %ute togs t!roug! designer strollers, baby gear is big business.
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W!ile t!e obious business opportunity !ere is t!e retail store"ront, t!ere are all &inds o" permutations t!at
%ould also be pro"itable, su%! as an eBay business or a %onsignment store "or used baby gear.
/) ?oggie day&are1hote!s
;nd t!en t!ere are t!e non3!uman %!ildren, also &nown as pets. -any o" us obiously "eel t!at our pets
s!ould be treated $ust as well as people and are willing to spend t!e bu%&s to ensure t!at t!is is so. Cas! in
on t!is best business opportunity by opening a doggie day%are t!at lets busy dog HparentsI wor& wit!out
guilt or by opening a doggie !otel t!at o""ers pampering "or traeling poo%!es. Fas!ion in%lined5 Go to t!e
dogs and %reate a line o" doggie duds t!at owners won)t be able to resist.
3) Finan&ia! p!anners
* &now * listed t!is as a best business opportunity last year, too, but t!is is su%! a growing mar&et. Boomers
seem to !ae an almost insatiable appetite "or "inan%ial adi%e, per!aps be%ause so many o" t!em are about
to retire and !ae a real need to get t!eir "inan%ial !ouses in order. Finan%ial planners, retirement planners
and inestment adisers w!o are good at w!at t!ey do will "ind t!at t!is year is ery good to t!em.
19) Persona! Catering
Business opportunities abound "or meeting t!e %atering needs o" busy pro"essionals and "amilies. 2elieing
people o" some o" t!eir daily meal preparation %!ores w!ile ensuring t!at t!ey !ae nutritionally !ealt!y but
tasty meals is sure to be a !it. #!in& along t!e lines o" w!at t!e daily !ouse&eeper used to do. You %ould
o""er pre3pa%&ed lun%!bo7es or a wee&)s wort! o" entrees deliered, "or instan%e. ;nd t!en t!ere)s %atering
"or spe%ial o%%asions.
Continuing 0rends 3 -edi%al tourism and %onstru%tion trades %ontinue to be stellar opportunities t!is year.
2ead more about t!em <and ot!er business opportunities= in Best Business /pportunities ,??K.
0he Best Summer @ob %s =our <wn Business
Boo&ing "or a summer $ob5 W!y not start your own business instead o" wor&ing "or someone else5 Besides
a%%omplis!ing t!e main ob$e%tie o" ma&ing money oer t!e summer, w!en you start your own business
you(ll !ae t!e satis"a%tion o" being your own boss and o" %reating somet!ing yoursel". ;not!er great
adantage o" starting your own business is t!at you won(t !ae to waste time loo&ing "or a summer $ob 3
you(ll already !ae one.
W!en you(re %!oosing a small business idea "or your summer $ob repla%ement, t!ere are two approa%!es
you %an ta&e. You %an plan to start a seasonal business t!at you %an pa%& up and %lose down at t!e end o"
t!e summer w!en you go ba%& to s%!ool, or you %an %!oose a business t!at allows you to %ontinue running
t!e business <on a redu%ed s%ale= t!roug!out t!e year.
1) "awn Care1"ands&aping
#!is is a great small business idea "or students be%ause it(s seasonal and is greatly in demand t!roug!out
t!e summer season 3 and almost anyone %an do it. ;not!er great t!ing about t!is small business idea is t!at
it)s easily e7pandable4 add lands%aping and8or gardening seri%es i" you !ae t!e &nowledge and abilities.
2) Sports EAuipment Renta!
Summer is t!e season to get moing and t!ere(s a big appetite "or w!eeling around 3 on bi&es, rollerblades,
s&ateboards or s%ooters. #!e rig!t lo%ation and t!e rig!t weat!er %ould ma&e t!is small business idea a real
money ma&er.
') -uided 0ours
*" you lie in an area wit! !istori%al8%ultural8s%eni% attra%tions, w!y not start your own business o""ering
guided tours5 >on(t despair i" you don(t lie in a pla%e wit! spe%ta%ular s%enery or !istori%al %!ops4 e%otours
and guided !i&es are be%oming in%reasingly popular. #a&ing people on tours o" t!e lo%al "lora and "auna !as
t!e added bonus o" getting outside in t!e sweet season.
)) eBay Se!!ing
#!is is a small business idea t!at %ould !ae real potential. Find t!e rig!t produ%t to sell and build a good
reputation as a seller and selling on eBay %ould be a bonanAa. #!e downside is t!at doing t!ese two t!ings
ta&es resear%! and time. /n t!e upside, !oweer, t!is is %ertainly a business t!at would be easy to %ontinue
on a part3time basis.
*) Begetab!e ?e!i:ery
.eople are paying more attention to w!at t!ey eat and w!ere it %omes "rom t!an eer be"ore 3 and are more
willing t!an eer be"ore to pay a premium to eat HbetterI. ; summer business su%! as preparing and
deliering bo7es o" "res! egetables and "ruits <organi% or ot!erwise= %ould be ery pro"itable.
+) E$terior 2ouse C!eaning
Window was!ing, gutter %leaning, power was!ing e7teriors 3 start your own business doing t!e !ome %are
%!ores t!at ot!ers !ate to do and you %an %lean up during t!e summer %lean up season! ;nd on%e you)e
establis!ed t!is business, it s!ould !ae great %arry3oer potential, giing you a list o" repeat %lients summer
a"ter summer.
,) 2ouse1Pet Sitting
-any people trael during t!e summer and need someone to loo& a"ter t!eir !ouses and8or pets w!ile
t!ey(re gone. -a&ing t!e rounds and ta&ing in newspapers and mail, %!e%&ing t!e !ouse and "eeding or
wal&ing HSweetieI %ould be a great Hsummer $obI business "or you and it %ould een !ae t!e added bonus
o" giing you a pla%e to lie oer t!e summer.
/) 2ouse Ca!! -ee#
*" you(re te%!nologi%ally say, you !ae e7pertise t!at a lot o" people still don(t. Start your own business
ma&ing !ouse %alls troubles!ooting %omputer problems and8or s!owing people !ow to do w!at t!ey want to
do wit! t!eir %omputers. #!is is anot!er small business idea t!at would wor& well as a part3time business
post3summer, too.
3) Rubbish Pi&#up
#!ere are lots o" people wit! lots o" $un& t!at t!ey would li&e to dispose o", as t!e su%%ess o" :3L??3G/#3
0UNM testi"ies. ;nd late spring8early summer is t!e season o" t!e !ig!est demand as people do t!eir spring
%lean ups. *" you !ae a%%ess to a tru%&, t!is %ould be a money ma&ing small business idea "or you.
19) %nstru&tor
*" you !ae a parti%ular s&ill and t!e ne%essary %erti"i%ation, tea%!ing %an be a ery satis"ying and lu%ratie
small business. -usi% lessons spring to mind, but t!ere are myriad ot!er possibilities, "rom yoga and
aerobi%s t!roug! mountain bi&ing and !orse riding. #utoring in t!e traditional s%!ool sub$e%ts is anot!er
small business idea wit! an instru%tional t!eme.
So %onsider t!e possibilities and start your own business t!is summer, wor&ing "or yoursel" rat!er t!an
wor&ing "or someone else. W!ile some people are still loo&ing "or a summer $ob, your own business will
already be up and running 3 and ma&ing money.
Business P!ans
*n"ormation on !ow to %reate a business plan, in%luding !ow to organiAe and write a business plan, and
sample business plan templates t!at you %an use.
; HMno%& #!eir So%&s /""I /nline Business .lan
#!e online business plan %an gie you a !uge adantage w!en you)re trying to persuade lenders and8or
inestors to ta&e an interest in your business. -ary;nn S!an& e7plains !ow to put toget!er an online
business plan t!at will &no%& t!eir so%&s o"".
Business .lan /utline
Coneniently bro&en into eig!t se%tions, t!is outline o" t!e business plan lin&s to detailed arti%les t!at e7plain
!ow to resear%! and write ea%! se%tion o" t!e plan.
Business .lan >e"inition
; de"inition o" t!e business plan and an e7planation o" !ow t!e business plan di""ers "rom t!e inestment
proposal wit! related resour%es.
Eui%&3Start Business .lan
-aybe you don)t need to wor& t!roug! an entire business plan. You %an use t!is 6ui%&3start business plan
w!et!er you)re starting a business "rom s%rat%! or t!in&ing o" buying an e7isting business to see i" a
business idea is wort! pursuing.
>o * Need to Write a Business .lan5
Writing a business plan is espe%ially %riti%al w!en you)re starting a business. 9ere)s w!y writing a business
plan s!ould be one o" t!e "irst t!ings you do on%e you)e de%ided to start a business wit! in"ormation on !ow
to write a business plan.
;dertisement
'7e%utie Summary >e"inition
W!at is an e7e%utie summary5 #!is e7e%utie summary de"inition in%ludes in"ormation on writing a
business plan e7e%utie summary and a lin& to an e7e%utie summary e7ample.
'7e%utie Summary '7ample
Writing an e7e%utie summary "or your business plan5 9ere)s an e7e%utie summary e7ample t!at you %an
use as a model.
9ow to Write an '7e%utie Summary "or t!e Business .lan
#!e e7e%utie summary will be t!e "irst t!ing t!e readers o" t!e business plan read. *" your business plan)s
e7e%utie summary is poorly written, it will also be t!e last, as t!ey set t!e rest o" your business plan aside
unread! 9ere)s !ow to write an e7e%utie summary t!at will get t!e rest o" your business plan read.
.repare an *nestor 2eady Business .lan
Your business plan needs to be tailored to t!e needs o" angel inestors and enture %apitalists i" you want to
use it to attra%t inestors. 9oward S%!wartA e7plains !ow to put toget!er an inestor ready business plan.
Eui%&3Start Business .lanning
Business planning doesn)t !ae to be a time3%onsuming ordeal. *n $ust a pair o" two to t!ree !our business
planning sessions, you %an put toget!er t!e basi%s o" a business plan t!at will inigorate your business "or
t!e %ourse o" a year.
#!e Un3Business .lan
#!e standard business plan is boring and predi%table, says -ary;nn S!an&. *nstead, w!y not %reate a
business plan t!at presents t!e in"ormation needed and truly stands out5 9ere)s !ow.
W!y You Need to Write a Business .lan
Fie reasons to write a business plan, w!et!er you(re $ust starting a business or running an establis!ed
business. <-oney is only one reason to write a business plan!=
Writing #!e Business .lan 3 #!e Competitie ;nalysis
9ow do you gat!er in"ormation about your %ompetitors and analyAe t!at in"ormation to "ind your %ompetitie
adantage5 9ere(s a guide to putting toget!er t!e %ompetitie analysis se%tion o" t!e business plan.
Writing #!e Business .lan 3 #!e Finan%ial .lan
#!is "our part arti%le e7plains !ow to %reate t!e t!ree types o" "inan%ial statements t!at need to be in%luded
wit! your business plan4 t!e *n%ome Statement, Cas! Flow .ro$e%tions, and t!e Balan%e S!eet. #emplates
o" ea%! "inan%ial statement are in%luded.
Writing #!e Business .lan 3 #!e *ndustry /eriew Se%tion
Euestions to guide your resear%! "or t!is se%tion o" t!e business plan, !ow to put t!e industry oeriew
se%tion toget!er, and w!ere to "ind t!e Canadian industry in"ormation you need.
Writing #!e Business .lan 3 #!e -anagement .lan
*mpress t!e people reading your business plan wit! a management plan se%tion t!at outlines your *nternal
-anagement #eam, '7ternal -anagement 2esour%es, and 9uman 2esour%es Needs. 9ere(s !ow.
Writing #!e Business .lan 3 #!e -ar&et ;nalysis
;n e7planation o" !ow to de"ine your target mar&et and !ow to resear%! and write t!e mar&et analysis
se%tion o" t!e business plan.
Writing #!e Business .lan 3 #!e -ar&eting .lan
Your mar&eting plan is t!e blueprint "or %ommuni%ating t!e wort! o" your produ%ts or seri%es to your
%ustomers. Use t!is step by step guide to deelop a su%%ess"ul mar&eting plan, eit!er as part o" a business
plan, or as a stand alone.
Writing #!e Business .lan 3 #!e /perating .lan
/n%e you(e wor&ed t!roug! t!is business plan se%tion, you(ll !ae a detailed operating plan to s!ow
potential %reditors and inestors, and a %onenient list o" w!at needs to be done ne7t to ma&e your business
a reality.
+ -et!ods o" Sales Fore%asting
Sales "ore%asting is espe%ially di""i%ult w!en you don)t !ae any preious sales !istory to guide you, as is t!e
%ase w!en you)re wor&ing on preparing %as! "low pro$e%tions as part o" writing a business plan. #erry 'lliott
proides a detailed e7planation o" !ow to use t!ree met!ods o" sales "ore%asting.
Business .lan F;E
Get t!e answers to your 6uestions about business plans wit! t!is business plan F;E by ;bout(s Small
Business *n"ormation Guide >arrell Na!ors&y.
Creating Business .lans "or *ndependent *nentors
;bout *nentor(s Guide -ary Bellis details !ow to write a business plan to raise money "or manu"a%turing or
selling your own inention. 9er series o" arti%les in%ludes a %ompleted business plan sample.
W!y Business .lans >on(t Get Funded
;&ira 9irai e7plains !ow to aoid t!e most %ommon errors "ound in business plans 3 mista&es t!at will %ause
potential inestors to say no to your business plan <;bout 'ntrepreneurs=.
Business .lans .lanning Guide
;n outline o" t!e purposes o" a business plan, and an e7%ellent step by step guide t!roug! t!e D parts o" a
business plan, wit! business plan e7amples <2oyal Ban&=.
9ow to .repare a Business .lan
>o%ument by ;C/; outlines !ow to write a business plan, and in%ludes appendi%es e7plaining !ow to
determine 2eturn on *nestment, and !ow to prepare balan%e s!eets, %as! "lows, and a brea& een analysis
<Canadian=.
*ntera%tie Business .lanner
Use t!is online so"tware to prepare a t!ree year business plan "or your new or e7isting small business. #!e
*ntera%tie Business .lanner in%ludes sample plans, and does "inan%ial pro$e%tions using t!e in"ormation you
proide. 9ig!ly re%ommended.
.reparing a Business .lan
; business plan outline and in"ormation about preparing your business plan to approa%! lenders and attra%t
inestors <Business Seri%e Centre /nline Small Business Wor&s!op=.
Sample Business .lans
#!is page !as lin&s to eig!t sample business plans in pd" "ormat t!at %an be used as a guide w!en
preparing your own business plan <part o" t!e /nline Small Business Wor&s!op: Canadian=.
Sample Business .lan 3 Big!t Guard
#!is sample business plan "rom Canada Business Seri%e Centres is based on a "i%titious manu"a%turing
%ompany %alled Big!t Guard.
Sample .lans
*" you(re writing a business plan, t!ere(s not!ing better t!an seeing e7amples o" plans to !elp you wor&
t!roug! yours. 9ere(s a large, sear%!able %olle%tion o" plans "or all &inds o" businesses <"rom bplans.%om=.
Firtual Business .lan
/utstanding online resour%e leads you t!roug! t!e in"ormation you need to write and improe your business
plan <"rom BiAplanit.%om=.
Writing #!e Business .lan
; business plan outline "rom t!e U.S. Small Business ;dministration(s Web site. Follow t!e lin& at t!e bottom
to see business plan samples.
Your Business .lan
#!is business plan primer "rom ;lberta First in%ludes tips on !ow to present your business plan, t!e &ey
elements o" a business plan, and !ow to "ind !elp to %omplete your business plan.
Steps to start up n set up business n its "inan%ing et%
http://sbinfocanada.about.com/