So you’re ready to start your business but you’ve received mixed messages about tax implications for Aboriginal entrepreneurs. Does it depend on whether you are status First Nations? Is it about the business structure you choose or whether you operate on- or off-reserve? Or all of the above? Have no fear, you’re not alone! There is no right or wrong choice but it is important to understand the impact of each option and which will work best for you before setting up shop.
Every owner of a new company is motivated to make their dream come true. The excitement of developing and launching a new venture can sometimes distract one from the basics of business. I would like to share some ideas that new business owners should keep in mind.
Tax season is among us and this can be a bittersweet time for many small businesses like your own. Before we get to reap the benefits of our tax returns, there is lots of paperwork to be done which can sometimes be a little confusing. Below are some questions and simple, quick tips to help you along the way.
Where does one go to purchase authentic Indigenous made art and crafts? Moonstone Creation is the place to visit! In the historic neighbourhood of Inglewood, Calgary, on the corner of 10th Avenue and 12th Street SW, sits a quaint bungalow with a trademark sky blue front door. Dreamcatchers and medicine wheels adorn the front windows, and upon stepping foot into the establishment, the distinct and notably Indigenous fragrance of tanned moose hide engulfs the senses.
Getting online is an important step for any new business. In this post we’ll explore the topic of domain names – what are they, and why are they important for small businesses?
What is a domain name?
Often referred to as a “web address” or a “URL”, a domain name is the digital place where your website lives. Domain names make it easy for your audience to find you online. Think of them as the street addresses of the Internet - a domain name is more descriptive and easy to read and remember than an IP address.
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.