More and more people are beginning to open their minds to new business ventures. It seems like it is becoming the popular move. By opening a business there could be huge profit to be made, depending on the market. On the other hand, there are risks and losses that may occur as well. It is said that there are two reasons why people start a business. The first reason is because they have inspiration for what they believe would be a great idea and the second is from desperation. People have a need to make money and there are no jobs out there, which they found, that suites them or their needs. There are various different ways to start a business. Not all entrepreneurs begin their business by the thought of an idea. …show more content…
A balance sheet compares what your business owns to what it owes. A cash flow statement compares how much money will be coming in, to how much you will be spending. An income statement compares your revenues to your expenses to see if you are going to make any money" (CBSC 1).
To ensure that a business plan is complete makes sure that there is a summary of all these things. The length of the business plan should be approximately between ten pages and twenty-five pages in length. This business plan will acquire lots of time and effort and for that reason a lot of people do not get one done.
Ways to Get Money to Start the Business
There are various different funds available for new business ventures to try and create more jobs in Canada. Entrepreneurs are more then welcome and advised to come into the Canadian economy. To get