DOWNSIDES of Starting a BUSINESS in CANADA // Know This BEFORE You Start // Canadian Business Guide

What are the Things I NEED to Consider BEFORE I START a BUSINESS? What are the DOWNSIDES to Running a Business in Canada? What are the Risks with being an Entrepreneur? What are the Hidden Costs of Running a Business? Should I Quit my Job or Build my Business on the Side?

I will be breaking down the biggest DOWNSIDES to Starting a Business in Canada! There are huge benefits to starting a business in Canada, in terms of personal, financial and tax saving benefits. But there are a LOT of risks and costs as well that you NEED to consider before you start! I’ll break down all of the obvious downsides as well as some unexpected negatives that a lot of entrepreneurs don’t realize. I’ll also offer solutions on how to reduce these risks and I’ll encourage you to build your business on the side while you continue to work your regular job to mitigate these challenges.

WHY You SHOULD Start a Business: 🇨🇦
https://youtu.be/XvrBNnKj52Y

HOW to Start a Business: 🇨🇦
https://youtu.be/WrJLAAzRWC4

CANADIAN TAX GUIDE: 🇨🇦
Watch my videos to learn the basics of Canadian Taxes and Tax-Sheltered Accounts like the TFSA, RRSP and RESP
https://www.youtube.com/playlist?list=PLj8bU3AuW2qEA_ik7NOAIkBY02nt7KAPj

QUICKBOOKS ONLINE - Manage Your Business 🇨🇦
Sign up with QuickBooks Online, the tool that I use to manage my business! I use it for bookkeeping, tracking revenue and expenses and to handle payroll 👇
https://www.jdoqocy.com/click-9191966-14439155

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Best SAVINGS ACCOUNT in 2024 - EQ BANK 🏦
Your emergency fund should be in a High Interest Savings Account and the best one in Canada right now is EQ Bank which offers up to 4% interest with no monthly fees and no minimum balance!
Use my referral link below to sign up 👇
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LOYALTY MEMBERSHIP ✨
Click the JOIN button or the link below to gain access to my exclusive content! 👇
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Thank you guys for supporting my channel, you’re the best! 🙏

SKIP AHEAD ⏩
-Intro: 0:00
-Job Security: 1:36
-No Benefits: 3:36
-CPP Costs: 6:17
-Securing Loans: 9:27
-Legal Risks: 11:53

WATCH NEXT ▶️
-How Taxes Work in Canada - https://youtu.be/GShKBkv2xY8
-TFSA Explained Investing Tax Free - https://youtu.be/i_bWf1NyUbE
-RRSP Explained Part 1 - https://youtu.be/bKMNgnMBSdE
-Canadian Tax Savings Tips - https://youtu.be/xLXup5L-S2Q
-4 Steps to Become Wealthy - https://youtu.be/mwfdlM7z9YY
-How to Open Questrade Account - https://youtu.be/uoOBRUY8IXQ
-How to Buy Stocks on Questrade - https://youtu.be/_V2yBWwOZX4
-Best Canadian Dividend ETFs - https://youtu.be/hXrN5EVCp8Y
-WHY You Should Start a Business - https://youtu.be/XvrBNnKj52Y

Be sure to subscribe to my channel for more videos on investing, Canadian taxes, personal finance and money saving strategies =)

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DISCLAIMER: I am NOT your financial advisor! My videos and the topics discussed are my opinions and are presented for entertainment purposes only. This information should not be construed as legal or financial advice. It is always up to YOU to do your own due diligence. It’s YOUR money so make YOUR own decisions!
I will NEVER ask you to send me money nor will I ever provide my phone number or personal email address. If you see this, that is a fake account and please report any suspicious activity or scam accounts claiming to be me.

DISCLAIMER: Links included in this description may contain affiliate links.
I will only ever suggest services or products that I use myself and I personally believe in.
If you sign up using my affiliate link, I will receive a small referral bonus at no extra cost to you!
Thank you for supporting The Canadian in a T-Shirt! =)

#CanadianBusiness #EntrepreneurCanada #StartingBusiness #CanadianTaxes
#CanadianBusinessGuide #CPP #MortgageApproval

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