I've got an idea but...

I’m not sure about the type of business I should launch.

Click to navigate to the previous section.
Click to navigate to the previous section.

"We have this thing we like doing, we have this complementary skill set … let's see if we can turn this into a business."

John Davis
Danforth Brewery

Click to navigate to the previous section.
Click to navigate to the previous section.

John came to Canada 10 years ago on a working holiday visa to figure out what he was going to do with his life. Along the way, he and his business partner fell in love with home brewing. They had a vision for a community-focused craft brewing company that supports events and small businesses in Toronto’s East End. Futurpreneur’s business planning process opened their eyes to many questions they needed to answer to ensure they had a solid foundation for their launch.

Click to navigate to the previous section.
Click to navigate to the previous section.
Guide Home
Home > Entrepreneur

Business Structure

What form should my business take?

Click to navigate to the previous section.
Click to navigate to the previous section.
Guide Home
Home > Entrepreneur

Businesses can be set up in the following ways:

Sole Proprietor, Partnership, Incorporated

Each structure has Pros and Cons:

Click to navigate to the previous section.
Click to navigate to the previous section.
Guide Home
Home > Entrepreneur

Sole Proprietor

Pros: One owner, one decision maker; easy to register; all profits go to you; some tax advantages.

Cons: Unlimited liability (you’re responsible for all debts of your business); income drawn from business taxed at personal income rates; can be difficult to raise capital on own; you’re the only one in charge – business survives and thrives with you.

Click to navigate to the previous section.
Click to navigate to the previous section.
Guide Home
Home > Entrepreneur

Partnership

Pros: Two owners means you can share responsibilities/tasks; partner can complement your skills; easy to register; start-up costs shared.

Cons: Unlimited liability; challenge with finding the right person to work with – it’s like a marriage; you can be held liable for all decisions made by a partner.

Click to navigate to the previous section.
Click to navigate to the previous section.
Guide Home
Home > Entrepreneur

Corporation

Pros: Limited liability; separate legal entity.

Cons: More regulated, requires additional reporting and record keeping; more expensive to set up.

Click to navigate to the previous section.
Click to navigate to the previous section.
Guide Home
Home > Entrepreneur

Put your idea to paper

Our Business Plan Writer will take you through the steps of building a plan that will turn your idea into a business!

Start Here
Click to navigate to the previous section.
Click to navigate to the previous section.
Guide Home
Home > Entrepreneur

Get connected with a business development expert.

[gravityform id=1 title=false description=false ajax=true tabindex=49]
Click to navigate to the previous section.

As a national organization, Futurpreneur honours and acknowledges the traditional and ancestral territories of First Nations, Métis, and Inuit peoples across the country. We recognize the diversity of Indigenous peoples and communities coast to coast, including over 600 First Nations Communities, four Inuit Nunangat regions comprised of 53 Inuit communities, Métis Nations, settlements and regions, Treaties 1-11, 25 modern treaties, and all unceded territories. We respect the historic and current relationship Indigenous peoples have to the land on which we reside. We are committed to collaborating and establishing respectful relationships with Indigenous peoples by striving to practice reconciliation in our everyday lives, communities, and workplaces. We encourage you to take part in learning the local Indigenous history of the land on which you reside.

-->