Starting Businesses
Canada is a liberal market economy. Anyone can start a business
- No fees
- Few regulations
- No government permission It is the 3rd easiest place in the world to start a business.
- It is best to start your business in canada then move to the US when your business picks up
Business Survival Rates
- 85% of businesses survive first year
- 70% of businesses survive 2nd year
- 62% of businesses survive 3rd year
- 53% of businesses survive 4th year
- 51% of businesses survive 5th year
Business Risk
Starting a business is risky because of:
- Customer unpredictability
- Competition
- Complexity of managing a business
- Fundamental need to spend before making a profit
- Possibility of law suits