Ready to launch your new business? SBC Ontario is offering free business video sessions to help aspiring entrepreneurs succeed. Sign up today to learn valuable skills and turn your business idea into a reality. This process will provide you with a Master Business License and is mandatory under the Business Names Act. Additionally, proper registration helps build credibility and has marketplace advantages.
People say they want sustainable products, but they don’t tend to buy them. Particularly Millennials—increasingly say they want brands that embrace purpose and sustainability. Here’s five approaches for companies to consider:
· Social Influence
· Shape Good Habits
· Leverage the Domino Effect
· Talk to the Heart or the Brain, and
· Favour experiences over ownership.
Source: Harvard Business Review
A new report by Global Entrepreneurship Monitor shows Canada has highest level of early- stage entrepreneurial activity among G7 Countries. The biggest motivator for male entrepreneurs in 2021 was “to earn a living” which probably reflects the turmoil caused by COVID. For female entrepreneurs, the biggest motivator was “to make a difference in the world.” READ MORE
Source GEM – Oct 2022
There are three types of legal structures for a business:
· Sole Proprietor
· Partnership (which is a form of proprietorship)
· Corporation (also called Incorporation (Inc.), Limited (Ltd)
Choosing the right structure is usually to comply with tax law, which is different for each type. This article explains each business structure.
Source: BDC
The most important element of your pricing strategy is that it needs to sustain your business. Your selling price needs to be able to keep you in business. If products are set at a high price and potential customers don’t buy, you’ll lose market share. If you set your prices too low, you’ll be selling at a loss, or at an unsustainable profit margin. Fortunately, there’s a simple way to price products so you sell profitably. By using thorough market research and understanding your ideal customers, you can land on a pricing strategy and final price that works for you.
Do you have a hobby or just passionate about making your favorite soap, candy, or art? Selling handmade goods is an ideal first business for aspiring entrepreneurs. In most cases these businesses can be started from home with minimal upfront investment. Ahead, explore ideas for things to make and sell online, with suggestions for every skill level from beginner to advanced craftsperson.
Source: Shopify
You’re a small business owner, not a big box retailer—great! In today’s world, you’ve got a leg up on big corporations because you’re a real person with a pretty great face and can give personalized service. And today’s consumers want to spend their hard-earned cash supporting small businesses; this is an advantage you should leverage any time you can. One of the best ways to do that is to work with your fellow small businesses.
Source: Shopify
Black Friday and Cyber Monday (BFCM) are only a couple of weeks away. For retaillers this time of year can make or break you, and retailers around the world are working to find ways to meet the new era of holiday shopping.
BFCM is always a big deal in retail, and 2022 promises to be an exciting year for online and offline stores alike. Here’s a holiday guide with tips to prepare the busiest shopping days of the year November 25th and November 28th.
Source: Lightspeed
Choosing a business name feels so permanent. It represents your company and brand. It may seem simple at first but think again; many factors play into creating a successful, memorable name.
Having a name that resonates with your consumers can save you money, differentiate you from competitors and be the key to your success and growth.
Source Business News Daily, June 2022
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