Home > Small Business in Alberta

Small Business in Alberta

If you’re after a life of self-employment and profitable income, then it’s time to start your own business Putting up a small business is a lucrative venture in Alberta, as it is home to a diverse, free, and stable economy. The province’s industries include tourism, agriculture, and energy. 

Before buying property or hiring employees, be sure that you have a sound business plan. A comprehensive plan covers specific details on your product, your target market, advertising strategies, financial management, and how far the business will go in the next years. Once you have settled your plan, you’ll then decide how organize the business legally. Canada categorizes businesses as corporations, partnerships, proprietorships, or cooperatives. Each type has its pros and cons, so choose an organization that will benefit you in the long run.

Businesses that are sole proprietorships, partnerships or limited partnerships, or limited liability partnerships require a registration of a business name. Business name registrations don’t require a form since the information is processed into the Corporate Registry computer system (CORES). For those who want documentation, the form can be downloaded from the Alberta Corporate Registry site. 

After you have registered your business and gone through all the necessary licenses comes the hard part: selling your product or service. Experienced entrepreneurs advice that location is the key to success. Set up your store or office where your target market frequents. Once your business has visibility, word will get around and your new customers will recommend you to their network.

In terms of visibility, online marketing is the cheapest form of advertising. Entrepreneurs with a large Facebook network can use their friends list to their advantage. Advertise your business to them and utilize the interactive nature of Internet advertising. Engage your target market to keep them interested in your product or service. A business with a good start has a better chance of surviving its chosen industry.