Starting a business in Canada has never been easier, especially an online business. It’s accessible to virtually anyone willing to work hard. The internet has leveled the playing field and offers innumerable possibilities.
Obviously, the first step is choosing a business name and activity. Register your name once you’ve decided on one and it’s available.
Establish your USP
You need to establish what exactly your business is offering and why it’s unique. This is your Unique Selling Proposition. Determine your target group and how you can reach out to them. These details are crucial to your strategic planning, from marketing to pricing.
Sources of funding
While you might not need funding at the beginning, it will definitely help. Check out government grants for Canadian businesses, other forms of government financing, and private-sector financing. Look for innovation or tech grants or programs you may qualify for as an online business. If your idea is especially novel, you might try crowdfunding.
Open a PayPal account and a business bank account if you haven’t. Income and expenses are easier to track with a business account, even if you’re only operating under your name. Saving for income taxes will also be easier. What’s more, a company-designated credit card can help track expenses.
Manage your finances
You need to do this right from the start. It’s crucial if you want to make a sustainable profit. It will also help you save money and prepare you for taxes. You could look into intuitive accounting software for businesses. Structure your budget and decide how much you need to earn to be able to make a profit.
Register a domain and choose a website host
Registering a domain and selecting a website host is a crucial step in the process of opening a business in Canada. Canada has unique legal issues and requirements that not every budding entrepreneur is aware of, which leads to costly mistakes. The good news is that WordPress hosting in Canada is more affordable than ever with eco-friendly providers like GreenGeeks.
Consider design
Read online tutorials on web design if you will take care of this yourself, or hire a website designer. Some website hosts, content management systems like WordPress, and ecommerce platforms have a wonderful selection of themes and templates targeting people without a background or even any knowledge of web design. Canada’s Shopify can provide design services.
Accept payments online
It’s safest and easiest to accept payments online if payment processing is included in your ecommerce platform or shopping cart. Whether you have an in-house solution or process payments through a special gateway, you should be familiar with PCI security standards.
Craft quality content
Content is crucial for organic SEO and attracting customers. It reflects your level of expertise and the quality of your services or products. High-quality content is paramount from the start. You can write the content yourself or hire a freelance writer.
Incorporate SEO
Successful SEO tactics include using sharable images to encourage sharing on social media and backlinks to improve your search engine rank. The work only begins with generating traffic to your live website. You’ll need to track, assess, and adjust your strategy based on the generated data. Set up Google Analytics and use the CRM tools that come with your ecommerce platform or content management system.
Consider marketing
Effective forms of marketing include newsletters, social media accounts, etc. The main point to consider is drawing attention to the fact that your business is Canadian. It doesn’t matter what digital marketing method you choose. Recent studies have shown that just under two-thirds of Canadians who shop internationally would prefer to buy from Canadian businesses.
Assemble a team
Good customer service can provide valuable insight and an edge over the competition. Web-integrated call tracking systems enable you to track and manage customer communications across channels. If you have the budget, a competent virtual assistant can help you make money.
