What is a business plan?
A business plan is a written document demonstrating where a business is going, how it will get there and what it will look like once it arrives.For more information, view the Business Plan guide on your right-hand side.
Why do I need a business plan?
A business plan can help you:
• secure financing
• save costs by predicting and solving problems ahead of time
• plan your operations to ensure everything goes smoothly
• create a budget and stick to it
• And much more
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Do I need a Copyright or Patent for my product or service?
A copyright, if you qualify for one, demonstrates that you own the product and that you can choose to give, sell or lease the material.
If you wish to copyright literary, musical, dramatic or artistic works, or to patent an invention of some description, visit the Canadian Intellectual Property Office at the Canada Business Services for Entrepreneurs
How do I get funding for start-up?
All entrepreneurs require some funding for start-up and operation. The usual sources of funding for start up costs are personal savings. Federal and provincial government agencies, financial institutions, friends, and relatives may also provide financial support. Funders will want to see your business plan.
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Do I need to register my business?
If you operate a business under a name other than your own, you must register with the Registry of Joint Stocks. The Registry of Joint Stocks charges a fee to determine if your proposed business name is available. If the name is available, you must register it by obtaining a Certificate of Registration for which there is an additional cost. You must renew the Certificate of Registration annually.
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Registering your business name does not necessarily give you proprietary rights to the business name. If you want to be sure you own your business name, you must trademark it.
Is my business a sole-proprietorship, partnership, incorporation or cooperative?
When you register your business name you must choose a form of business organization or ownership. You have a choice of sole proprietor, partnership, incorporation or cooperative.
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Is my home-based business covered under my home insurance?
Insurance helps you manage risk. Every business, including home-based businesses, needs business insurance. Some household insurance policies may cover some home-based business insurance needs. Some of the common types of insurance that you might consider include vehicle insurance, product or service liability insurance, general liability, and/or business premises/contents insurance.
As a business owner, you should consider obtaining life insurance, disability insurance, critical illness insurance, partnership insurance, key person insurance business property and liability insurance.
It is best to speak with an insurance broker familiar with your type of business. They will be able to tell you what insurance coverage you should have. If you make changes to your insurance policy, be sure to get them in writing.
How do I need a seller’s license for my business?
The Direct Seller’s License and Regulation Act requires that all persons must be licensed, who in the course of business sell, offer to sell or solicit orders other than from a recognized retail store. For more details on the Direct Seller’s License and questions concerning specific examples, contact an Access Nova Scotia Centre near you.