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is it worth to be self employed in canada

ramneek

Star Member
Aug 2, 2009
117
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hello all
any views if i start my own business in canada i.e. to open a small store or to get a petrol pump or to start a small eating point.
how much investment would be needed?
any guidance in this regard????
would i have to get any license or any approval for that?????
thanks & regards
 

ramneek

Star Member
Aug 2, 2009
117
3
hi rocky ithink u r online. ur suggestions r always helpful & informative
plz shed some light on this issue
 

wilson

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Oct 11, 2008
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ramneek said:
hello all
any views if i start my own business in canada i.e. to open a small store or to get a petrol pump or to start a small eating point.
how much investment would be needed?
any guidance in this regard????
would i have to get any license or any approval for that?????
thanks & regards
Hi, My opinion is that you should study about the marketting possibilities around the provinces and its areas after your arrival and settlement. So many factors are to be analysed and calculated after proper study. You have to research about proper location,suitable place, building and type of business. The investment varies according to the type of business, location, rent, lease or mortgauge of the building and mainly subject to the availability of funds. As you are a beginner and do not have a credit history, you will not get any loans. Unless you know exactly the trend of the people living around or visiting to that area, you cannot just get into any sort of business profitably. However, there can be different opinions and suggestion on this topic.
 

rocky272727

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May 21, 2009
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ramneek said:
hi rocky ithink u r online. ur suggestions r always helpful & informative
plz shed some light on this issue
Hi,

I will update you on this question soon. Give me some time.
 

qorax

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Nov 21, 2009
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ramneek said:
hello all
any views if i start my own business in canada i.e. to open a small store or to get a petrol pump or to start a small eating point.
how much investment would be needed?
any guidance in this regard????
would i have to get any license or any approval for that?????
thanks & regards
Hi,

That's a welcome move. In fact Canada encourages ppl to establish their own business -however big or small it may be.
1. It is worth 100% -u can bet on it.
2. Investment is subjective. No one can answer that w/out studying your business plan.
3. Procedure: Every province has a dedicated website*... look at your chosen one -u'll get all the info.
4. My say: If u have some kind of experience at it -go for it. Else, gain some experience & then indulge.
5. Yes, u have to go for business registrations. -again those website/s would guide u on the matter.

*Even the CIC website has a link to 'small business'.

All the very best !
Qorax
 

ramneek

Star Member
Aug 2, 2009
117
3
thanx qorax
ur way of answering a question is superb.
can u guide on one more matter?
some ppl think that moving to a big city like toranto is better bcoz bigger will have more opportunities
some think that way like it will be easy to adjust in a small but growing up city like calgary or adminton
what u think abt it?
thanks in advance
 

rocky272727

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May 21, 2009
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ramneek said:
thanx qorax
ur way of answering a question is superb.
can u guide on one more matter?
some ppl think that moving to a big city like toranto is better bcoz bigger will have more opportunities
some think that way like it will be easy to adjust in a small but growing up city like calgary or adminton
what u think abt it?
thanks in advance
You answered your question yourself. Small cities like Calgary or other will definitely give you more advantage and opportunities if you have to setup your business, this is what I feel and also if you believe in first movers advantage. Since cities like Toronto will already have things in place and will have pre defined things and set of expectations out of a business. But small cities like Calgary needs people and development is not as it is in Toronto. Example like UP, Noida the place was empty some years back as compared to Delhi but soon Noida become hub of many industries because people moved in and some have been able to shape it the way it is now.

I will definitely get back to you for the feasibility of starting a business as compared to starting a business in Toronto. I will keep in mind the restaurant business which you mentioned as the nature of business.
 

qorax

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Nov 21, 2009
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ramneek said:
thanx qorax
ur way of answering a question is superb.
can u guide on one more matter?
some ppl think that moving to a big city like toranto is better bcoz bigger will have more opportunities
some think that way like it will be easy to adjust in a small but growing up city like calgary or adminton
what u think abt it?
thanks in advance
Hi,

Rocky answered perfectly well. Choosing a city is albeit, a personal opinion -which is based on many factors. Besides, Calgary is no 'small city'. U'll be surprised how spanned this city is, how well organized -by far one of the loveiest places in Canada.

Yes, it's smaller to Toronto or Vancouver, but not like any run down city. It is actually a damn good place to start a business. It has many advantages... 1] no provincial tax, 2] lower payroll taxes, 3] no waiting for h/cards, 4] nil pollution, 4] least traffic hassles, & many more.

Also yes, it is colder [than Toronto], but not like Edmonton -& pretty soon u'll adjust to that. Moreover, Vancouver [though it's swell of a place] is for holidaying/retirement [purely my opinion]. Unless u have an 'assured' AEO u mustn't go there. It's damn costly -in all aspects. Ditto for business set-up -unless again u r not rolling in $$$.

Toronto has a separate charm, so does Calgary... but in a different sense. It'd be wise to assess what your business goals r, before taking the plunge -into either of them. If the business requires wider network of 'contracts' -Toronto's be better [but will have higher operating expenses]. If the business is -say a 'restaurant' [as u r looking for, I guess], Calgary would offer u 'lower' start-up costs.

Think about your own options [business plan] & u can decide. BTW: Calgary [& similar non-cosmos] would be better for a start-up. Same'd be Edmonton, Victoria, Oshawa, Saint Johns, Montcon etc.

-Your pick buddy...
Qorax
 

ramneek

Star Member
Aug 2, 2009
117
3
thanks rocky & qorax
actually i am interested in starting a small store i think that would be better in cities like calgary
beside this my wife is MBA. we both can manage the business easitly.
lets see what future has in store for us
anyways thanks a lot
& all the very best to you guys