Calgary, Heart of the New West, is an oil and cattle city that is place of so many opportunities for entrepreneurs, and people involved in ranching, oil, or other industries that support the city’s residents. In order to start a business in Calgary, first you need to register your business with the government of Alberta. In addition, you may need to acquire a license from the Calgary municipality.
You can register your business through the City of Calgary either in-person, over the phone, or even by using their online portal. Depending on the business you do, how many customers will be attending your business, staff team, etc., you may need different permits/licenses.
Do your research.
You will need to determine the desire for your product and/or services in the market by doing the necessary research beforehand. You can do this by hosting surveys, asking other professionals in your field, or checking out the competition to assess their pricing and reach.
Make a plan.
Failing to plan is planning to fail. Determine where you plan to set up shop in Calgary, how you mean to finance your start-up, and how you will acquire the materials and/or resources you need to manufacture your product or provide your service. You can use your previous research as a starting point to determine how you will then brand your product and market it. Focus on how your product and/or service will fulfill a need for your clients and customers!
If necessary, you will want to look into your means to obtain financing. This may mean acquiring a business loan, grant, or finding an investor. Before you can do this, however, you will need to show a professional business plan to whoever it is you mean to acquire financing from. The more information that you can offer, the better.
Acquire the appropriate resources.
As a business owner, you need to acquire the appropriate resources to divvy up the amount of work you are doing on your own. While it certainly is empowering to do so, you will run yourself ragged after a couple of months! Look into acquiring the appropriate resources and hires for your business. This may include project managers, sales representatives, and more depending on your industry.
When it comes to financial advice, look for accountants Calgary small business owners trust: an accountant should come into the picture when you need help with finances and whenever you are ready to delegate the accountancy and bookkeeping over to another party. After all, you do not want to be overworked; delegating certain tasks over to trusted workers can be a good way to take some load off your shoulders and allow you to focus on bigger and better things.
Obtain business insurance.
Be sure to acquire business insurance specific to the needs of your particular industry and/or field. Discuss with a business insurance broker about your business requirements or ask them for what they would recommend. Depending on the field you operate in, you may be required to obtain some form of liability insurance – and in many cases, clients may refuse to work with you without evidence of insurance first! Business insurance can spare your start-up from going under if anything should happen when finances are tight. They can help reimburse you if your business property is damaged or destroyed, if operations must temporarily be stalled, if your equipment is damaged or lost, or from a liability claim from a third-party.
Time to open your doors.
Now is the hard part: running your business, keeping up with daily operations, and fostering a supportive work environment. Implement tools and make plans for continual, manageable growth, and continue to foster innovation everyday to ensure you are constantly keeping things fresh and interesting for your clientele! Running a business is no easy task, but with hard work, time, and patience, your business may very well grow into a huge, successful venture!
For more great savingadvice articles, read these: