How Students Can Start their Own Business Before Graduation

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Canada is a beautiful place for companies, especially those that want to invest overseas. It has an abundance of resources that are rarely found anywhere else, not to mention the political stability the nation enjoys. According to Forbes (and many people agree on that), it is a welcoming environment because of the highly educated workforce. It is the perfect place to live, invest and work. Another added advantage is the low corporate tax rate and trade agreement since it is well positioned as a foundation for international expansion.

If Canada is so great for startups, why is it so difficult to get businesses started and thriving in Canada?

The biggest issue here is that while, overall, starting businesses is friendly and comfortable, it is difficult to get construction permits, electricity and registering property. The costs of construction permits in regard to commercial use were increased in 2017, and so were the costs of site plan approvals. Getting electricity will take you about 140 days, but you will have to sweat a little to get it.

It also has the biggest target for cybercrimes. These crimes have increased by over 160% since 2015. There are also the issues of a shortage of unskilled workers. In 2018, the shortage of labor had reached a crisis point. Therefore, you may succeed in opening a company, but it will be challenging for you to get any workers within the first year. The taxes are too high.

How can a student overcome these challenges and start a successful organization?

The art of balancing schoolwork and entrepreneurial dreams is not easy. That is why most students are reluctant and fail to follow their business plans because they equate it to the loss of tuition fees. The truth is that these two need not be mutually exclusive. Take school as an avenue that can influence and help define the career goals. It should not hinder them. Here are some essential tips that will help you in starting a business in college.

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1.    Prioritize

Setting your priorities may be the toughest part- probably because it is also the most important. You need to think long and hard about your long-term and short-term goals and how you can fit both school and your business in them. If you ask yourself the right questions, you are likely to figure out which are the most critical needs for you.  Here are some of the questions one needs to answer:

·       What values do you gain by staying in school?

·       How can the courses you learn help you in your business?

·       Is there a future career in your business after you graduate?

·       Why do you need to start your business before and not after graduation?

You have to know your reasons clearly. They will help you know when you must sacrifice your educational opportunities for businesses. You may want to work on a business strategy for a couple of days, and that is completely fine. Integrate your class plan and your business plans so you can use the critical lessons in your organization.

2.    The right course

Of course, god grades are key. One must, therefore, make sure that the bridge between work and school. Select a major that helps your business and allows you to strategize. Because you will learn both in class and in the real world make sure your course is relevant to your business that you do not require assignment help in Canada as often. Student writing is easy if you work on studying and getting experience from your business ventures. You may choose to take a for-credit independent study course that will give you more time to focus on business-related research.

3. Network

Most of your employees and customers for at least the first year will be students. When starting a business, it is important to involve them too. Students may not get the credit they deserve, but most of them are very business-minded. Pitch the collaboration idea and see if you can get a business partner who will help you with aspects of the organization that are nor your strengths. With students, one is guarantees to find diverse ideas and numerous innovative concepts. You also need to check the school and see what resources they can