Many Canadians have a dream job they'd love to bring to life, but they lack the confidence to take the leap.
Thankfully, there's plenty of help when it comes to turning your business idea into a reality.
The entrepreneurial spirit is alive and well in Canada, with small businesses dominating the economy. In fact, 97.8% of all businesses are small ventures.
Many of these businesses don't actually have any employees. They're just run by someone working hard to make a go of it.
Related: Why Gen Z may be our most entrepreneurial generation yet
The dream of working for yourself
While there's something to be said for the security of a traditional job, many Canadians would rather not spend their days working for "the man." We have big dreams.
We like the idea of working for ourselves, being our own boss and building something from the ground up.
Now that many of us have had the experience of working from home, the idea of reporting to an office five days a week is even less appealing. No wonder so many Canadians are starting side hustles.
According to Venture Forward, GoDaddy's research arm, more than half (51%) of Canadian small business owners started to be their own boss.
The average side hustler earned $14,900 CAD in 2022.
A lucky three percent made more than $100,000 from their side ventures that year.
Don't let fear hold you back
While entrepreneurs are everywhere, Ontario and B.C. have the highest concentration of microbusinesses.
GoDaddy has unearthed a few interesting facts about these enterprising Canadians:
- More than 53% are solopreneurs (no employees)
- 46.8% conduct business on their website
- 33% do business on social media
- Just over 30% have a physical business location
- 48% work from home, meeting customers in-person or via teleconference
And these were the challenges they said they faced when starting their businesses:
- Marketing their business digitally 37.20%
- Access to funding 19.7%
- Marketing their business using traditional media (radio, TV, etc) 18.40%
- Finding affordable space 10.20%
- Finding the right workers, contractors or consultants 14.40%
If you want to succeed, you will likely need help in at least a few of these areas.
Editor's note: Tell GoDaddy Airo about your idea and it will generate a domain name, logo, website, social media handles, professional email and more — all for the price of your domain name. See for yourself!
Asking for help
So where can you turn for help when it comes to starting your own business and making it a success?
The Canadian government provides a handy guide to starting a business, which is an excellent starting point. It covers everything from:
- Planning and registering your business
- Sorting out your finances
- Setting up your operations
Also take a look at the Liaison Officer program, which provides free tax advice to small business owners and the self-employed.
A great accountant can be worth their weight in gold when it comes to structuring your business and tax planning.
It's also worth checking whether there's an industry body or union that offers advice and support for small businesses in your sector. There might even be a local small business owners’ association in your neighbourhood.
Editor’s note: Looking for a fully integrated payment processing solution for wherever sales might happen? GoDaddy Payments is your go-to.
GoDaddy is here for you
GoDaddy can help put your business online quickly, but it also offers a wealth of information to help you turn your side hustle into a success.
Helpful articles that ease your way
The GoDaddy Canada blog includes more than 400 blog posts written by Canadians who are experts in their fields. They can help you with:
- Choosing a brilliant business name
- Writing a simple business plan
- How to create your first balance sheet
- Selling products online
- Mastering digital marketing
You'll also find plenty of great advice on the many other topics small business owners need to succeed.
Videos on starting and growing a business
Building on this are the extensive GoDaddy How To Guides, which provide a wide range of courses that are broken into multiple lessons.
These courses cover everything from being an entrepreneur to using social media to grow your business and search engine optimisation (SEO).
Live help by phone or chat, day or night
Finally, you can also turn to the online GoDaddy Help Centre if you get stuck. GoDaddy's trained experts are available 24 hours a day, 7 days a week via chat or phone. You can get help in French Monday to Friday, 8 am to 8 pm.
Ready to make a different future?
Embracing your side hustle and starting your own business can seem like a big project, but there's no need to go it alone.
If you're afraid you don’t know enough to be successful, check out all the great resources GoDaddy offers. Together, we can help your big idea flourish.
