Small Business Tips for New Business Owners
When you are trying to find the right location within the GTA for your business, there are some things you should consider before you agree to bind into a commercial lease for the property as well as hiring commercial moving services in Toronto to move your items into the new space.
The first thing to do is figure out your budget, because you obviously do not want to go into debt trying to pay for a lease which you cannot afford. Secondly, you should have already scouted out and researched the demographics of the new area to establish a target customer base that will likely be receptive to your business products and services. Researched stats should include “age, gender, socioeconomic background per family, as well as ethnicity.” This would give you clear indication whether or not moving into the new area is worthwhile from a financial perspective. If you have the financial means to hire a professional relocation and business consultant, it may be a viable option for you to consider as thorough market research is key to the make or break of your business.
Getting Funding for New Business
One of the best ways to fund small business expenses such as a new building, equipment, marketing resources, paid staff, and commercial moving services is to first check out a federal government site, www.CanadaBusiness.ca which offers procedures in obtaining a small business grant.
Another avenue to consider is obtaining a grant from the “Scientific Research and Experimental Development (SR&ED),” which is a federal tax incentive program. This program is offered by the Canada Revenue Agency (CRA) which encourages Canadian businesses within all sectors regardless of size, to be compensated for research and development (R&D) in Canada. You can read more here: http://www.cra-arc.gc.ca/
Lastly, if you are a homeowner, you could always contact your local bank and use the equity in your home to take out a “home equity loan” in order to fund your new business or it’s new location.
Tips on Moving to a New Location
After you contact a commercial moving services company in Toronto, start packing for the move. Less items being moved, less moving fees- pack what you will use at the new business and any items you do not need can be sold or donated to local nonprofit organizations. Organize packed items according to the rooms in which the items will be placed in so that upon arrival at the new location, unpacking will be organized and efficient.
Other Matters Concerning Canadian Small Businesses
As a Canadian-Controlled Private Corporation (CCPC), every small business owner is entitles to tax breaks which include expenses such as “moving services, relocation expenditures, and new office equipment required for the operation of the business. Thus, you can claim the fees charged by the moving company in your annual tax filings in order to be reimbursed for those expenses. You can learn more from the federal government’s website directly here: http://www.cra-arc.gc.ca/
As a small business owner you will face a lot of challenges but with research, commitment and assistance from others, it is possible to succeed for years to come. There are also books you can read that will help you operate and potentially grow your business efficiently. Join a professional organization so you can learn from experienced business owners who can offer advice. Finally, listen to your employees’ and customers’ suggestions because they are the key to your success.
