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An increasing numbers of students are setting up their own businesses after graduating from college and university. A survey conducted by Pollara in July, 2013 asked 602 Canadian post-secondary students about career prospects and their aspirations to own their own business. Almost half of Canadian post-secondary students surveyed ’ 46% said they see themselves starting a business after graduation. Pollara said that some see their planned new business as a primary source of income while others see it as a secondary source. By region, the greatest percentage of respondents who say they planned to start their own business was in British Columbia, at 50%. According to Statistics Canada, approximately 130,000 new small businesses are created in Canada annually. These businesses are the key to driving employment, with more than 40% of Canadians working for an organization with fewer than 100 employees.
Here are a few steps that you need to think about before starting your own business:
Some of the most valuable knowledge you can acquire will be from people who have tried to start a business similar to yours and failed in the process of doing so. Save yourself time and money by learning from their mistakes. You can also find a mentor, someone who is successful in your field and willing to share their wisdom.
The advantages of owning your business are numerous and include:
Keep in mind that starting your own business can also have downsides, including long hours, personal liability, and an unsteady income. There is no pay check unless you make it happen.
I recommend the following resources that will assist you in starting your own business:
Start Your Own Business by Rieva Lesonsky
The Business Start-up Kit by Steven D. Strauss
Start-up From the Ground-Up by Cynthia Kocialski