Have you ever wondered what business opportunities might be available for you and your company between Latin American countries and Canada? Are you somewhat overwhelmed about what steps to take to start the process? There are many great private organizations, public agencies, and online resources available to you including the following Latincouver partners
Starting your own business
Start in any kind of business involves lot of sacrifices and risks. Many people involved in businesses could tell you many secrets for a success but no always the same formula works for everybody.
Nevertheless, in BC there are rules, permits and regulations for every business and some can vary by the type of business. Here Latincouver has designed a small guide to start this adventure. We are sure this can help you to solve some doubts as well as showing you great tools for information and the actual steps for Certain paperwork?
With are things to take in consideration when you are planning business.
Planning your business
Your company can be a project that involves other people, here Is the importance of the structure you give to your business. Here Is a simple explanation of the basic structure possible for a business.
Basic business structures:
- It is owned by a number of people, but all are considered as one person by the law.
- The treatment of the corporation as a person allows it to own property, pay taxes, or make contacts.
- Funds can be raised through selling stocks.
- There is limited liability. Stakeholders can only lose what they have invested in the business.
- It is between two or more people.
- Partners share clients and risks.
- It allows capital to be raised easily.
- Partners share unlimited liability. This means that all partners share responsibility if a bad decision is made. This is its most dangerous disadvantage.
- A single person can start the sole proprietorship.
- It is easy to start and the owner is her/his own boss.
- In case the owner lack business skills, no one is there to evaluate the actions.
- The owner has to pay for everything needed for the business. Loss is paid by owner’s own pocket.
Maybe this can seem complicated for anyone with no experience in businesses, but there are many tools available for you to figure, lean and decide about the path of your business. Once you decided the type of structure for you business you can now plan your operating system.