Calgary is so much more than the annual Calgary Stampede festival. It has a booming economy, thus making it a great place to start a business. Here’s what you need to know about starting a business and finding business plan writing services in Calgary.
The Calgary economy
“Be part of the energy” is Calgary’s Economic Development tagline, but it’s more than a nod to the industry most popular in the city. Calgary’s momentum makes it ideal for business owners in many industries, which is just one reason we named it one of the top 15 Canadian cities to start a business. A global research company, AIRINC, agreed, ranking it 9th out of 400 cities for the greatest financial rewards and lifestyle. The Economist Intelligence Unit ranked Calgary the fifth most livable city when considering the economy, safety, infrastructure, social programs, and lifestyle.
Calgary has the highest per capita concentration of head offices in Canada. It also boasts the highest concentration of high-tech workers anywhere in Canada. Plus, it has more than enough premium office and industrial space to accommodate new businesses.
There are so many success stories coming out of the city. Now is a great time to create your own success story by starting your business in Calgary today.
Calgary as a small business haven
A haven for small businesses, 95% of Calgary businesses have less than 50 employees, with 64% of those small businesses with just one to four people (according to 2019 census data). Businesses in Calgary are small but mighty. Calgary has the second-highest concentration of self-employed people among Canada’s major cities, giving you lots of business-to-business sales opportunities.
Calgary is experiencing the third-largest growth in self-employment among major Canadian cities too. With a business plan to guide you, you could be joining the rising population of business owners in Alberta.
A diverse pool of local talent
Your business comes from your dreams, but people power it. In Calgary, there’s a diverse pool of candidates ready to be recruited. Twenty-nine percent of the population have immigrated from abroad, and 33.7% of residents are visible minorities from nearly 240 different cultures in Calgary alone.
Calgary has seven major post-secondary institutions making it easier to attract qualified staff with cutting-edge training. This easy access to post-secondary education helped Calgary residents rank with the third-highest level of education of major Canadian cities.
People are attracted to Calgary for various reasons, making it highly competitive for bringing in top talent, but you’re going to need a business plan to fund your staffing needs.
An energy-generation hub
The future of the energy sector is bright in Calgary. There is a long-held relationship between Alberta and the fossil fuel industry. Still, Calgary is also a hotbed for solar energy activity (not surprising given the 330 days of sunshine it gets every year). Clean energy is also available at a reduced rate given the province has bought wind power at a deep discount, in part due to the expertise of the existing business community.
If you’re thinking of starting a business in the clean energy field, Calgary will make an ideal home for your business. The best way to enter the Calgary energy market is to ensure the market research section of your business plan is detailed. A Calgary business plan writer with knowledge of the Alberta economy can help you understand important components to help maximize your funding opportunities and profits.
A buzzing technology sector
The Calgary tech sector is also abuzz with activity. Calgary businesses are expected to spend $7.5B on digital transformation (DX) by 2022, equal to a 20% compound annual growth rate.
If you want to take advantage of this technology boom, you’ll benefit from the expertise of a Calgary business plan writer that understands where and how this market is growing. With the right plan, resources, and capital you can position your Calgary startup for success.
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Other rising Calgary industries
Calgary is more than energy and tech businesses. There are several other rapidly growing industries in the region that your business may fit into, including:
● Aerospace
● Logistics
● Agribusiness
● Creative services
● Energy and environment
● Financial services
● Interactive digital media
● Life sciences
● Cannabis
Each of these markets is highly in demand right now. If your business is related to any of these markets, consider opening up shop in Calgary. A business plan consultant can help you write a business plan for any of these sectors.
With your existing industry research and your business plan writer’s expert knowledge of business plans and the Calgary business community, you’ll be setting up your Calgary-based business for success!
How to start a business in Calgary
Once you’re ready to set up your business in Calgary, you need to complete a few important tasks.
Here are four basic steps to start a business in Calgary:
Step 1: Get your permits in order. You will likely need a standard business licence and specialized licencing or regulatory requirements based on your industry. You can apply online at the Calgary.ca website.
Step 2: Register your business name. If you haven’t already, be sure to register your business name for the city you plan to operate in.
Step 3: Set up a business structure. Consult a lawyer or business advisor to choose the business structure of your company. You can create a sole proprietorship, partnership, or corporation. Each has different tax benefits and considerations.
Step 4: Register for a business number. Not all businesses need to register for a business number, but the CRA website can help you determine if you do.
Working with a Calgary Business Plan Writer
Now it’s time to start planning your business and sharing your business details with the Calgary business plan writer you’ve chosen. There’s no time like the present to start a business in Calgary. When you’re looking to hire a business plan consultant, choose one that:
● is familiar with the local market
● has a track record of writing successful business plans
● knows what funders are looking for in a business plan
● has experience bringing it all together into a cohesive strategy.
Calgary is a unique city, just like your business. Give your business the best chance of success and profitability in the growing market by creating a solid plan. Cookie-cutter business plans may work for a while, but your long-term profitability depends on a solid, customized solution.
You can “Be Part of the Energy” in the Calgary business landscape with the right business strategy. Our team of Calgary business plan writers understand the Albertan economy. We can write you a business plan to get funding, and guide your company’s growth. Everything’s bigger in Alberta, and your business could be too!