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Starting a successful business in Alberta

Self employment is a liberating and profitable endeavor.  Artistic types prefer to work freelance full time, while those who’ve worked in the corporate world end up setting up a business. Starting a business lets you work within your own terms. You can also control where your money goes, and direct it into more profitable ventures with a freedom salary-paid employees cannot enjoy.

Alberta is one of the best places to start a business in Canada. The large population provides your business a diverse market, giving your product or service a better chance at surviving. 

Now before you start filling out forms or calling government offices, review your business plan. If you still don’t have a business plan, then start working on it. This plan will map out how you proceed with your venture, specifying details such as the company’s vision and mission, marketing strategy, management structure, and the financial plan. You should also do a study of competitors that already exist in the market, as well as an overview of the industry you will be entering. 

Once you’ve settled your business plan, you’ll have to register your business to the Alberta Corporate Registries. There are five forms of business organizations for your business to register under: sole proprietorship, partnership, corporation, co-operatives, or non-profit. The easiest way to start a business is under sole proprietorship. This type of business has low start-up costs, a small working capital, and the greatest freedom from regulation. Owners also enjoy tax advantages and reception of the business’ profit.Other forms and types of registration can be asked for from the Alberta Corporate Registries (780-427-2311; http://www.servicealberta.gov.ab.ca/). For other kinds of licenses your business may require, schedule a visit to the City of Calgary License Division. You should check with the Development and Building Approvals Office if the kind of business you’re starting is allowed in the area you’ve chosen. Once the location has been settled, your establishment or office may require a Calgary Health Region inspection.