In the past, starting an online business in Canada was difficult due to the lack of guidance available on the topic. In current days, there are plenty of guides and helpful tips that can help you bring your entrepreneurial ideas to fruition. Before starting an online business, take a minute to read over our guide on a variety of things to consider. This will help you stay aware and prepare for any potential issues that may occur. 

Decide on The Type of Business

Once you’ve settled on the product or service you will be offering, you will need to decide on a distribution method. For services, this is simpler because you will simply make arrangements with the client and then deliver on your agreement virtually or in person. 

For goods, you will need to factor in the additional costs of manufacturing, storage, and shipping, among others. Some business owners opt for drop shipping because they can sell products without needing to have the inventory on-site. Instead, they act as the third-party intermediary between the client and the manufacturer. Your profit would be the difference between the customer price and the wholesale price.   

Choose a CMS

You will need a CMS, or content management system, to create your business’ website. Many beginner entrepreneurs choose WordPress as their CMS due to its user-friendliness and customization options. WordPress is also free for people to use, but their premium packages require a fee. 

If you are starting an eCommerce website, WordPress will be especially beneficial to you. WordPress has many different plugins including WooCommerce, which makes it simple to create a business platform. This will support PayPal and Stripe, two of the most popular payment gateways for customers.  

You can choose Canada Post as a shipping option for customers. This will ensure that your platform is suitable for the Canadian market, and your customers will appreciate this.  

Choose a Good Web Hosting Provider

One of the more important aspects of your website is deciding which hosting provider you will go with. The hosting provider will determine the number of resources your site will have access to, the strength of your virtual security, and the overall performance. Canadian web hosting companies are numerous, but you should take the time to narrow in on which one will best suit your requirements. 

Some hosting providers may try to swindle you into choosing a plan that provides them the most profit and leaves you with less than the bare minimum needed to run your website. You should choose a website that will allow you to easily scale up to a new plan as your business grows and they should be there with you every step of the way. If you have questions or if your website goes down, the provider should be available 24/7 to help you resolve the issue as soon as possible. 

Look for Grants

If you require funding for your business, many people’s first instinct is to apply for a loan. Depending on the type of business and your unique situation, you may be able to obtain government funding with no need for repayment or interest payments. For instance, there are many opportunities for female entrepreneurs who are trying to get a business off the ground.  

Open a Separate Business Account

One of the first steps you should take is opening a separate business bank account. This is essential for keeping track of your business purchases and income. You can also clearly see how much profit or loss you are making monthly, and whether you need to adjust your budget.

You will thank yourself at tax season when you can easily file your taxes or hand over the information to your accountant. Whether you file your taxes yourself or pay someone else to do it, you will save time and money if everything is clear and organized. 

Plan Your Marketing Campaign

Even though your business is not up and running yet, you should think about how you will market yourself. Many people use social media as a tool to promote themselves. Instagram is a great tool because you can easily post photos of your work, and other people can share them all around the country. Customers can also leave reviews on your social media platform for others to view. 

If you have done work in the past for clients, it is a good idea to reach out to them again. Ask them if they would have an interest in working with you again and request a testimonial from them. They might also be willing to spread the word about your business and pass out your business information once you have established it.