1. Characteristics of Successful Entrepreneurs Am I Ready to Start a Business? Starting a new business begins with a good idea or a great opportunity. Starting a successful new business begins with a well developed idea and a solid plan. Any successful entrepreneur...
2. Business Ownership: Is it the right choice for you? Starting a business can be challenging; You can expect a lot of long hours, uncertainty, and psychological stress during the initial stages of starting a business. Consider the factors below to understand if...
3. Is My Business Idea Profitable? One great advantage of being an entrepreneur is being able to do something you are passionate about or love to do. How do you plan to turn your passion into profit? Can my idea become my business? Every new business starts with an...
4. Planning for Success Start developing a plan Taking the time to map out a realistic plan for your business before you open will pay off in the long run. Many successful entrepreneurs will agree that solid planning, both short-term and long-term, is the key to...
5. Four Methods of Getting into Business Getting into a Business There are four basic methods of getting into business; start from scratch, purchase the assets of a business that has ceased operation, purchase an existing operation, or pay the fee for a franchise...
6. Types of Business Formations There are four common types of business structures in Prince Edward Island: sole proprietorship, partnership, corporation and cooperative. Each of these structures is described below. The structure you choose will depend on various...
