What is essential when starting a small business?

When starting a small business in Canada, it’s essential to have a solid business plan that outlines your vision, goals, and strategy. Conduct thorough market research to understand your target audience and competition. Choose the right business structure (sole proprietorship, partnership, corporation) for legal and tax purposes. Secure the necessary financing through loans, grants, or personal savings. Establish a strong brand identity and online presence. Understand and comply with all relevant regulations, licenses, and taxes. Build a reliable team if needed and focus on excellent customer service. Lastly, be prepared to adapt and respond to challenges as they arise.