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Starting a New Business

How you start your business can determine whether your business succeeds. We can help from the planning stages to help you avoid business failure before you begin.

Before you Begin
Have you started a business before? Are you an established business person or a budding entrepreneur? Is there a market for your product? Do you have a vision of success? These are just a few of the questions you need to consider before you commit you time and resources to a new business venture. We can help you determine whether you have a sound business idea and how to build your idea into a business.

Choosing the Business Structure
Once you determine that your business idea has merit, you need to consider the best business structure. Will you be the sole owner or will there be multiple owners? Do you need external financing? Are you concerned about exposing your personal assets to risks associated with the new business? Let us help you make the right choice for your new business.

Choosing the Location
Different types of businesses require different locations. A service business may be appropriate to operate from a home office. A retail business may demand a location that will expose your business to higher traffic volumes. Part of your decision on location will be what your business can afford. With our experience in business, we can help you determine the type of location you need and work with you to obtain the most favourable rental or lease terms.

Tax Planning
Since federal, provincial and local taxes can take a considerable amount of your income, it will be important to optimize the structure and operation of your business to minimize the tax liabilities. Your business will be subject to some or all of the following types of taxation:

We can help you organize and operate your business to minimize the tax you and your business will pay.

Regulatory Compliance
The registration requirements in establishing a new business can be overwhelming. Federal, provincial and municipal governments may each require registration and fees. How can you be sure that you have satisfied all of the regulatory requirements? You need assistance from someone experienced in business and knowledgeable about the legal requirements. We have the experience to help you build your new business.

Financing
One the most common reasons new businesses fail is inadequate financing. Most business owners underestimate the funds they will require to start and operate their new business. How you finance your new business can also impact its success.
Most business owners rely on debt, equity, leasing or a combination of these three to obtain the funds required to start and operate a new business. Debt financing can be from a financial institution, a private lender, the business owner or his family and friends. Equity financing can be from similar sources and leasing rather than providing a source of funds provides access to buildings or equipment while preserving working capital.
Each of these options or a combination may be right for your new business. We can work with you to review the advantages and disadvantages of each and determine a financing model that works best with your new business.