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A practical list for new entrepreneurs: Steps to take when opening a business

While the following list does not cover everything, it does provide a basic overview for anyone wanting to buy or start a small business. It assumes technical competence on the part of the entrepreneur with regard to the goods or services he will supply. It also assumes a lawyer and accountant will be consulted when appropriate.  If you are the entrepreneur, there are three main subtexts you will need to consider depending on your situation: 

Are you buying an existing business?

Are you starting from scratch?

Will you be employing or hiring workers? 

Each of these will require special consideration.

Starting out by purchasing an existing business?



Starting out from scratch?




Once you take on or hire your first employee, your world will never be the same – for better or worse.  Without employees most businesses will find it difficult if not impossible to grow.  Not to worry:  Most employees, when treated fairly, will do their best to help you succeed.  By considering the following issues and setting up your business properly from the start, you can increase the chances your employees will help you grow rather than be a source of discouragement.  A CFIB membership allows a business to use CFIB’s Business Resources Counselling Services to better understand employment obligations and best practices.



While the above is not a comprehensive list, it is a good start. 

Got questions?  Interested in membership with CFIB? Call a Business Counsellor.

May 8, 2017

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