Co-operatives offer an alternative business model, where control and ownership of the business is in the hands of members. Members can be employees, customers or residents, but in each case the members have a share in decision making and profits. Rooted in democratic values and self-responsibility, co-operatives are becoming increasingly popular. In Canada four out of ten people are members of some form of co-operative.
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E-Commerce is a trending pathway where the use of online platforms promote and sell products and may encompass wholesale businesses.
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The financial services industry is a large industry comprising several types of finance-related professional services. These include accounting (which itself covers tax preparation, audits and record keeping, and businesses’ financial documentation); financial advising and wealth management, and retirement and estate planning. This guide will focus on these three subsectors. According to the B.C. Labour Market Outlook, financial services, along with the real estate and insurance industries, will add over 55,000 jobs by 2031. Customers of financial services range from individual persons to large corporations . Depending on the size and focus of the company, and employment models, these services range from the self-employed bookkeeper or financial advisor, often operating as a one-person small business, to advisors or managers affiliated with larger financial institutions. Taking the time to conduct your own business planning and research can go a long way towards building a successful career in this competitive industry.
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According to the International Franchising Association, “a franchise (or franchising) is a method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor's name and system." Tim Hortons, Motel 6, and Two Men and a Truck are just three examples of large franchises in Canada.
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The importance of green business practices and the profitability of sustainable / eco-friendly companies is on the rise. Many Canadian consumers are willing to pay a premium for 'green products', and are on the lookout for new products and services to fit their lifestyles. Consumers are interested both in products that are made using sustainable practices as well as services that allow businesses or homes to be more environmentally conscious.
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For many aspiring entrepreneurs, opening up a separate 'store' does not fit well within personal, financial and time commitments, instead operating a business from a home office is preferred. Many business models work well from a home office: accounting - bookkeeping, daycare services, freelance writing, online retailing or many other businesses can easily be transitioned from bricks and mortar to your own personal living/working space.
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An import business is defined as a business enterprise that brings commercial goods into Canada, whereas an export business ships commercial goods to an international destination. International trade is a vast industry, and there are many types of import/export businesses. For example, an import/export merchant purchases goods directly from a domestic or foreign manufacturer, and then ships and resells the items.
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Nonprofit or not-for-profit organizations strive to support and advance their communities. Revenue earned by a nonprofit organization isn’t a personal gain for upper executives and is instead used to support the organization. Some examples of nonprofit organizations include social and recreational clubs, community organizations, trade organizations, and public charities.
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