Starting a new business in Canada can vary in degrees of difficulty depending on the industry you choose to pursue, and the province in which your business will reside. Fields such as telecommunications make it nearly impossible for new entrants to grab market share, as mega-corporations such as Bell, Telus, and Rogers, have essentially monopolized the entire industry. In contrast, industries with little to no barriers to entry, such as the restaurant industry, make it very easy for new businesses to enter.

In order to start a business in Canada, you first need to come up with a business idea and then methodically turn it into a structured plan, while ensuring to consider the degree of competition in your respective industry. This is a critical first-step, as the smoothness of your...