Your best business development ideas in Canada

Member since 30 May 2013

PriscillaViP27 October 2016 08:02:54

42358

Hi everyone,

As a foreign entrepreneur, launching a business in Canada is a fantastic project and an exciting challenge. Some ideas are likely to succeed. Some others are promising but may not work as well as intended.

In your opinion, what kind of business or industry is likely to succeed in Canada? What kind of industry or service currently unavailable or underdeveloped in the country would meet local needs?

On the other hand, what are the most common business types foreign entrepreneurs would be eager to launch in the country but with very little chance of success?

Thank you for your insights.
Priscilla

Canadian402 Member

Member since 31 August 2016

Canadian402Member04 November 2016 02:47:30

There are few things that could be done in canada. If you have any great idea or passion to do something, you can contact me xxx

Moderated by Bhavna 9 years ago
Reason : Please do not post your contact details on the forum. You may exchange them via the private messaging system.Thank you
We invite you to read the forum code of conduct

kirriemuir New member

Member since 03 March 2016

kirriemuirNew member19 November 2016 21:27:03

1. Do not go into any kind of business that offers a service unless you can provide the service over the internet. You'll either be limited to how much of the service you can provide by yourself or have to cope with unreliable employees and mountains of paperwork.
2. Stay away from renting any kind of space to run your business. You'll be stuck with a lease, a continuing overhead, and a location that may not suit you.
3. No-one can say what would be the best business for you to run but here are some criteria to apply.
(a) Run your business from your home but make sure it isn't disrupting the neighborhood - no noise, no parking problems, no other physical intrusions on people nearby.
(b) Check into the local bylaws and licenses for running a home-based business but be aware that many such businesses aren't licensed.
(c) While you can claim some of your living space as a tax deductible expense, don't do so if you own the home. If you do, any tax-free capital gains on the house will be reduced by the percentage you've already claimed.
(d) You must have a web site. Offer something you don't have to make yourself, that can be sent easily by mail or courier, that is likely to create repeat custom, doesn't need you to carry a large inventory or take up a lot of space, Above all, it should solve a problem for the consumer. Remember you are selling benefits, not features, and ask yourself why the customer should buy what you're offering. Pay close attention to customer feedback and watch the competition
There's a lot more I could tell you but here's one final piece of advice. Do not start a business selling something you don't know anything about. Just because someone else tells you it's a great idea, doesn't mean it is. Use the criteria above and do your own research.
Best of luck.