5 THINGS TO CONSIDER
before starting your own business
Starting a small business isn’t easy. Here are five things you should consider before taking the plunge and creating your own company in Canada. Small-scale businesses are the backbone of the
Canadian economy. As per the official website of the Government of Canada, “As of December 2019, the Canadian economy totalled 1.23 million employer
businesses. Of these, 1.2 million (97.9 percent) were small businesses, 22,905 (1.9 percent) were
medium-sized businesses, and 2,978 (0.2 percent) were large businesses.”
72 - IndigenousSME - June-July 2022
Small-scale businesses have taken the Canadian market by storm by bringing aboard entirely sustainable, ingenious,
and creative concepts. However, there is a reason behind the immense success and widespread market share of the
small-scale industries – proper planning and execution. It is impossible to survive in an uncertain economy amidst
challenging times without this. Therefore, before starting a small business in
Canada, here is a list of five things that you must consider.
