Following the business plan, the next logical step is finding the capital that will allow starting the business. In order to do so the entrepreneurs must find investors, whom will become shareholders or apply for business loans at the bank. A smart entrepreneur will also take advantage of any government support or subsidies that are available for business owners. Both federal and provincial governments offer programs to facilitate access to grants and loans for new or existing businesses in order to help young entrepreneurs. Depending on the type of business, it is important to find the right type of programs that will tailor to the exact needs a startup business might have. For an entrepreneur, finding capital might be the biggest challenge especially if they have little or no experience in the industry, limited credit history and low assets. The main goal of the entrepreneur should be to achieve high growth and profitable returns, as such to boost the investment there are various ways to find capital. Notably, other than bank loans: " crowd funding", angel investors and venture capital firms have been different ways of acquiring desired capital. The advantages of being an entrepreneur is that you work for yourself and have the schedule that you want; moreover there are no limits for advancement. However, being an entrepreneur also means a lot of work because the effort equals the return, which means that the entrepreneur does not exchange his or her time for money but that the amount of work invested will determine the success.
Sole Proprietorship, Partnership or Corporation.
The legal structure of a business is its skeleton and determines how the business operates and under which legal rules and regulations. There are three main types of registrations for a business in Canada: The Sole Proprietorship, the Partnership or the Corporation. Depending on the activities and size of operations, the business must chose which form will best suit its needs and objectives.