To become an owner of a business in the province of Quebec it is first important to understand the different legal structures that are allowed and available as well as the different procedures that must be completed. These intricacies will shape the type of operation that an individual or a legal entity can operate. I contend that the legal structure of any business depends on its size and activities; as such it becomes essential to differentiate all characteristics between a sole proprietorship a partnership and a corporation. .
Entrepreneurship.
Owning a business and being self-employed is an opportunity few can handle and succeed in. Before making a decision to tackle such a challenge the question of quality of entrepreneurship must be asked: Does the individual posses the personality attributes of an entrepreneur? The ability to create opportunity and achieve financial gain is the essence of entrepreneurship. An entrepreneur is an individual who is not afraid to take risks and to be a leader. At the basis of any large or small business there is one or more entrepreneurs who have created a vision and put it in action. There are of course advantages and disadvantages to being an entrepreneur. .
The first challenge is to discover an idea that you can capitalize on and introduce in the market. The best way for an entrepreneur to strategize for a successful outcome is to develop a very structured plan. This will be the business plan, and it will include the following information: a detailed explanation of the product or service you are intending to sell, the targeted market to which this product or service will be sold to, an analysis of that particular market, the legal structure of the company, current capital and necessary investments, as well as financial projections and profit margins. This thorough and detailed plan will allow an entrepreneur to be taken seriously when seeking new investors and speaking to vendors and distributors.