You’ve got a great idea for a business, now what? Depending on your business, whether it’s a service or a product, there are a couple of different steps to take. The overall process to launching your business is pretty much the same.
Setting up your business shouldn’t be scary. Here’s a quick summary of the steps you need to take from British Columbia’s Aboriginal Small Resources guide.
Step 1: Create an outline for your business
It doesn’t have to be perfect, and it can be updated along the way, but you need a roadmap. This is ground zero. Here are some things to think about to get the ball rolling:
- How much money do you need to get started?
- Who will buy your product or service and do they need it?
- Do you need any training before you launch?
- What’s the business structure? Will you own the business alone, with a partner, or will it be a corporation?
Step 2: Figure out where the money will come from to launch your business.
Money doesn’t have to come out of your own pocket. There are funding opportunities and advice available from several sources.
- Ask the local band office for resources.
- Talk to an Indigenous Financial Institution.
- Find out more about Government programs.
Step 3: Complete the registration paperwork
In addition to applying and registering your business name, you need to have a location, apply for a business license, and get the necessary permits for your particular industry.
Step 4: Get ready to open your doors (literally & figuratively)!
This is the exciting part when your idea truly becomes reality. What do you need to get ready to launch? Here are some ideas to help you figure out what’s required:
Ready to Get Started?
Opening your own business is an exciting adventure. British Columbia’s Aboriginal Small Business Resources gives you a quick reference guide and some handy links and numbers to organizations that can help you reach your goal.
We wish you great success with your small business!