If you're one of the many entrepreneurs thinking about starting a business this summer, you're probably exploring what business structure may work best for you. Choosing a business structure is one of the first and most important decisions you will make as a business owner. It's important to know that the choice of your business structure will directly affect many aspects of your business including ownership obligations, financing, liability, taxation and succession. You may already be familiar with the three common business structure choices:
ATB and Business Link...working together to make Alberta's entrepreneurs thrive!
Entrepreneurs are the economic drivers of this province. They are job creators, risk takers, innovators, and often make up the heart and soul of the communities we live in. But being an entrepreneur is not as easy as some may think. The journey of an entrepreneur is marked by moments of exhilaration; but often followed by feelings of loneliness, isolation and can be trying both personally and professionally.
Spring is in full effect and with all the beauty blooming around us, budding innovative ideas are no exception to that. Our team welcomes inspiring entrepreneurs all across Alberta to share their business ideas with us so we can help guide them to success. A question we frequently get from our promising business owners: Where do I get the money to turn my business dream into a reality or to further grow my business? Get your pen and paper ready - today we’re sharing some general financing options for your small business!
I’ve had the pleasure of meeting a number of small business owners in recent months through a variety of workshops and consultation sessions. I’m surprised (and encouraged) at the number of really good questions I’ve been getting about content creation. Small business owners are seeing a need for quality content and are eager to try things like blogging, podcasts and videos. They are quick to latch onto the “how”.. how to set up a blog, how to create a video and how to share content via social media. It’s the “what” that stumps them. What are they supposed to talk about?
Sam started his online marketplace for local experiences, Hobblit, in July 2015. The idea for the platform was sparked when he was at a conference in Iceland and had the opportunity to take pictures of wild horses in all their glory. After the trip, anxious to review what he thought would be amazing photos, soon turned to disappointment. All his photos were blurry. Wanting to improve upon his photography skills, he sought out classes and found that they were too expensive for someone with a casual interest in the subject. So, he set out to create a Meetup group with a purpose.
You have enough on your plate when starting a business, add in the complexity of understanding compliance and licensing and it can be downright overwhelming. Just ask Saylish Haas, co-owner of The Next Act Pub, a restaurant in the culturally rich, southside neighbourhood around Whyte Avenue in Edmonton, and Meat
With the recent developments in the economic landscape, Albertans have experienced significant change. Companies have seen a decrease in sales and are right sizing their operations to be affordable, but yet meet the current demand. More than 70,000 Albertans have been affected by company restructuring and they are looking for their next opportunity.
In many cases, the next opportunity may lie in starting up their own business. But is it the right time? Everyone is cutting back.
If the thought of doing taxes makes you cringe, you're not alone! Here are some simple tips to help you de-stress when filing your business taxes.
1. Know what you can claim if running a home-based business
Canada Revenue Agency (CRA) recognizes that many small businesses operate out of their homes, and because of this, a deduction is allowable in proportion to the amount of space that is used for the business. Some expenses eligible for claim are:
Amy’s bakery, Sugared & Spiced, started taking form 4 years ago. Her creative cookies first premiered at the Highlands Farmers’ Market, and with an overwhelmingly positive response, she furthered her passion by taking a 1 year baking certificate course at NAIT. After taking some time to get industry experience working in cafes and figuring out what direction she wanted to go in, she quit working unfulfilling part time jobs, and ventured out on her own.
Patrons who walk through the door of Edmonton's Corso 32 are almost inevitably assured of impeccable home-style Italian fare created by owner/chef Daniel Costa and his team.
But it's what's not on the menu that plays an equal role in the accolades heaped on the Jasper Avenue restaurant, which has won multiple awards since opening nearly six years ago.