How to Start a Business in Mississauga
If you live in the GTA or you’re trying to decide where in Canada to start your business, we’d like to encourage you to consider Mississauga. We believe Mississauga is an excellent place to launch your small business. This article will explore the positive attributes of the city and the primary things you need to consider before launching. Discover business resources and tips that will ensure your launch is a success.
Why Mississauga is the Best Place to Start a Business
Mississauga is an excellent place to start a business because of its location, low taxes, and availability of resources for entrepreneurs.
Mississauga is one of the fastest-growing cities in Canada with a population of more than 700,000. The city offers low taxes and good quality services. Located within Mississauga is Pearson International Airport which makes international trade highly accessible to the community. Mississauga has resources that are specifically designed to help entrepreneurs. This includes tax incentives for small businesses, funds to help people start their own business, and grants for female entrepreneurs, among others.
So how do you begin your own business in Mississauga?
Like all businesses operating in Canada, there are government regulations and rules entrepreneurs must follow when developing their businesses. Small business owners or those looking to operate large corporations must have more than just a business idea; they must have a business plan should they want to participate in government programs that provide grant money or receive bank loans.
In order to be successful at launching your company in Mississauga, there are some considerations to take into account. Here are some helpful tips that focus on how to successfully launch your new company within Mississauga
1. Choose Your Niche & Industry Wisely
Niche selection is one of the most important decisions you can make. A niche is a subcategory of a broader industry. You can identify your niche by looking at what you are good at, what you enjoy doing, and the audience that appeals to you.
Industry selection also plays an important role in determining the success of any business. It’s wise to choose an industry that will be profitable for your company and that will lend itself to generating new ideas. This may be an industry where your product or service would fit in well or an industry with high demand for new products or services.
Mississauga is a city known for its commitment to innovation and environmental protection, and residents are fully on board. They appreciate the way their mayor and city council embrace these ideals and are ready to get behind ideas that push the agenda forward.
If you’re considering a small business in Mississauga, your customers might appreciate a focus on things they already care about, and innovation and environmental causes check two of their boxes.
Looking to launch a start-up or FinTech corporation? Mississauga might be the right place for you! Five of Mississauga’s largest business sectors are knowledge-based industries and include:
- Advanced Manufacturing
- Financial Services
- Information & Communications Technology
- Life Sciences
- Smart Logistics
2. Find the Right Location for your Business
There are many aspects of commercial property and office space that need to be considered before you find one for your business. The first thing you want to do is take a look at your goals for the company so that you can figure out what kind of space would work best.
Do you want a place with lots of room? Or would it be better if your organization was more centralized? You also have to take into account whether or not there are other companies in your industry nearby because this will affect the type of competitive pressure that you will be under.
A growing trend across the country is to launch your business from your dining room table and become one of the 32% of Canadians who are currently working from home. Gone are the days when you need to have a brick-and-mortar storefront to be a successful business owner. You can even hire employees for your home-based business, or pay freelancers or contractors to help you instead.
If your company does require an office building or storefront, you need to consider the location very, very carefully. If people can’t find you, you’re too inconveniently located to get to, or if your customers or employees need to search too hard to find you, your business is at a greater risk of failure.
Mississauga’s helpful website, thefutureisunlimited.ca, offers some helpful questions to aid you in narrowing down your new business’ location:
- Will clients need to visit your business on a regular basis to purchase your product or services?
- Is my location accessible for my clients? Is there convenient parking?
- Does my location follow accessibility regulations for those with disabilities?
- Will you prepare and/or serve food? Are there are specific regulations you will need to follow?
- Are you selling a product or service online?
Does your location require any permits or operating licenses?
Failure to answer any of these questions and plan appropriately could make or break your success! So, plan carefully. It’s better to wait and open in the right location than to rush and open in the wrong one.
3. Tools and Resources to Build Your Business
Whether you are a solo founder or working in a partnership, the goal is to find the best tools to make your company successful.
Mississauga Business Entrepreneur Center (MBEC) is possibly the best resource for small business owners in the city. MBEC offers free guidance for how to set up and launch your new company, low-cost business seminars and workshops, a robust mentorship program, and more. We particularly appreciate this article about the 10 steps to launching your company in Mississauga.
Here’s how the MBEC can help you launch your business more successfully.
- Want to bring your business online but you’re not sure where to begin? There’s help for that! Using MBEC’s Digital Main Street Program, you can get personal help with aspects of starting and maintaining a digital company, or bringing elements of your company online.
- Want to open an online store to accompany your brick and mortar location? Your shop can be running in as little as a few days with ShopHERE Mississauga, a program that allows you to tap into valuable partnerships the city has with Google, Shopify, Microsoft, and Mastercard to help build and optimize online stores for Mississauga-based companies.
- Are you ready to hire employees? Learn about best practices and compliance and even find training programs to help you successfully onboard your team.
- Access COVID-19 resources. If you’re not sure how to manage your launch or how to be compliant during the pandemic, the COVID-19 Resource Centre can help.
- If you need funding to make your dream a reality or you’re searching for an incentive program available in Mississauga or the province, check out the Support, Funding, & Incentives section of MBEC’s website to get started. https://www.thefutureisunlimited.ca/resources/support-funding-incentives/
- Elevate your skillset by taking a workshop or course. Most of the events MBEC offers are completely free and online so you can attend from anywhere. Contact MBEC through their website to register. They cover a wide variety of topics including:
- How to scale up your business
- How to take your business international
- Digital marketing
- How to get financing for your business
Launching your business doesn’t have to feel overwhelming. Mississauga offers plenty of tools to give you the best chance at business success. Starting your own business in Mississauga is an exciting prospect for anyone looking for a new challenge. With so much support available, it’s easier than ever before!
Let our friendly real estate agents show you around the city and help you find the perfect location near whatever amenities you need to succeed. Justo is committed to providing you with superior service, putting customer satisfaction at the heart of everything we do. Contact Us Today!
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