You've been running your own business for about a year, or maybe you're still in the researching stage and thinking about what business structure may work best for you. Whether you're leaning towards a sole proprietorship or a corporation, it's crucial to do your research and know what's involved in both. If you're considering incorporating, consider these key facts from a legal perspective, on the benefits and drawbacks before you move ahead.
Defining Social Entrepreneurship
“So, What is a Social Enterprise?” That is the number one question I get!
The quick answer is a social enterprise is a non-profit or for-profit organization that, through their business model, solves a problem & creates change that positively impacts people, profit and planet.
What does that really mean? Let's walk through a real example:
When the opportunity to take over Stash presented itself a few years ago, Veronica immediately jumped on it. With her background in visual arts and the non-profit gallery and museum environment, she knew she had the skills to be an entrepreneur. She quickly recognized that Stash’s class-based model provided them with a real competitive advantage. The focus is on offering a large variety of intimate classes so that customers can advance and customize their skill sets, while at the same time purchase products to grow their crafting “stash”.
Dallas Arcand knew from a young age that he would not let his unfortunate circumstances hold him back. Growing up with no father figure and hardly any opportunities, he didn’t always know how things would turn out. With hard work and creativity, he always managed to find ways to make money and succeed.
Designing a business without a plan is a bit like navigating a new place without a map. It’s hard to know which road to follow and you’ll likely take a wrong turn or two. Luckily, there are tools to help you plot the pathway to business success. Introducing the Business Model Canvas – a creative compass that allows you to design, visualize, analyze, and describe your business.
Happy 2017! This 2017, Canada will be celebrating its 150th anniversary since Confederation. With this theme in mind, we wanted to gift you 150 business startup ideas to help inspire you and get you thinking outside the box.
Who knew the love of storytelling would grow into a production company? Aretha sure didn’t. She originally went to school to be a web designer, earning a Digital Interactive Media diploma from Northern Alberta Institute of Technology (NAIT). After doing web design for a while, she began to think about starting her own business. With limited education and experience, she was advised to continue her education or gain more experience.
The snow has fallen and the temperatures have dipped. The familiar seasonal songs follow you everywhere you go - yes, it’s Christmas time again!
As an entrepreneur, you never know when an opportunity will come about that can benefit you. Robert and Carl stumbled upon such an opportunity ten years ago, when they kept running into each other at networking events around Edmonton. They decided to meet over coffee after one of our events and have been meeting ever since.
Taking your next event from mundane to bold is possible – and it may be easier than you think! Time to break out of the old mold and make your mark with these three tips to fearless planning.