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Steps to Starting and Running a 

Successful Business in CANADA

By: Don Lunny











Managing one's own business can be a rewarding experience but survival can be tough in today's economy. This excellent 190 page book shows you the essential steps to ensure that your business is profitable.


Author, Don Lunny, is an experienced business owner and consultant with many years of experience. He knows what works and what doesn't. He says: "... aspiring business owners venture forth with hopes of attaining the personal satisfaction that comes from the successful operation of one's own business. The reality of business life is somewhat harsher. More than half of the businesses that failed in 1991 were in their first five years of operation. Survival is especially tough in today's economy, with the small business beset on all sides by fluctuating money conditions, rising costs, uncertain supply sources, and erratic markets. The new owner could lose everything - family car, life savings, even a home."


On the other hand, Lunny points out that owning a business - even a profitable one - is not as idyllic as it may seem: "Being a boss confines one in a way that working for others does not. Far from being freer, the head of a business often works 15 hours a day, 7 days a week, and feels responsible to family members, suppliers, customers, and employees. Gone are the days of a regular paycheck, a 40-hour work week, paid vacations, retirement security, and reduced health and life insurance costs."


Lunny also concedes that managing one's own business can be a personally and financially rewarding experience for an individual strong enough to meet the test. He points out that a person with stamina, maturity, and creativity, one who is willing to make sacrifices and take risks, may find making a go of a struggling enterprise an exhilarating challenge with many compensations.


In the serious and complicated process of starting a business, Lunny points out that there are certain questions that must be asked and answered. Then certain steps must be taken. Although some of them are very elementary - such as applying for a city business permit - the most important are often complex and difficult and require the advice of specialists: accountants, attorneys, insurance brokers, and bankers. The order in which these steps are undertaken will depend on the type of business. The first step for a prospective tavern operator, for example, might be to apply for a license from the Provincial Liquor License Control Board, since such licenses are difficult, expensive, and time-consuming to obtain.


So, if you are one of the thousands of Canadians who are thinking of starting your own business, then Steps to Starting and Running a Successful Business in CANADA is essential reading.



Steps to Starting and Running a Successful Business in CANADA by Don Lunny, 190 pages; ISBN 978-0-920847-85-5; softcover; published in 1994; Canada: $34.95.


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