Entrepreneurship/ Starting a Business
There are many types of legal structures for a business: Sole proprietorship, partnership (which is a form of proprietorship) and incorporation. Each form of business has different succession rules, as well as specific tax and liability consequences.
To start a business, you must identify the type of business you are interested in. Your experience and educational background would play a key role in the choice of business venture. You may need to get business related qualifications, research the market opportunity and your competition, create a realistic business plan, network, and find a mentor to guide you through the process.
Aside passion, enthusiasm, and self- confidence; you need a business plan and a realistic road map to achieving your business goals. Find the right business for you, determine if you should get an education, plan your business, identify your target market, network, and sell your idea and market.
Every business needs a good manager with business experience and a working knowledge of financial management, marketing, personnel management, customer relationship management.
Businesses need a substantial amount of capital to operate and create profitable returns. The types of capital include – debt capital, equity capital, working capital and trading capital. Capital is utilized to help shape a company’s development and growth. Canadian Imperial Advantage and one of its partners, A5 Capital are in the position to guide you to obtaining the right capital for your start-up or existing business.
COVID – 19 has impacted a huge number of businesses. The livelihood of many entrepreneurs and small business owners continues to be threatened by the lockdowns. However, there are numerous government and non- government programs designed to address the varying individual business needs. CIAEC has developed a number of programs with its partners that address the needs of entrepreneurs at this time. Yours is to book an appointment to meet with one of our specialists who will assist you through the process.
No, but it is wise to get the best possible business guidance when you are starting out. CIAEC works with lawyers and other business professionals and we would be more than happy to give you a referral.
Examples of such barriers include; severe market entry regulations, shortage of funds and resources, lack of adequate entrepreneurship training, lack of appropriate technical and practical Skills, Lack of market experience, fear of failure, aversion to risk.
Yes. A Business Plan is a living document that describes your business life cycle and its success. A business plan is required if you plan to approach a financial institution for a loan. A business plan helps you make decision, give you new Ideas, and creates an action plan. CIAEC can help you to develop a formidable business plan that can be used to achieve your business goals.