New tourism businesses face the most challenges when it comes to starting their business. Startups are often perceived as high risk and low return on investment. And with good reason - 50% of new small businesses in British Columbia fail within the first year. So where do they go wrong?
Many overlook the importance of having a solid business plan to show to potential investors, banks, and financiers. And it’s easier said than done. It’s a lengthy process that involves research, planning, interviewing, meetings and extensive financial planning.
Fortunately, there are great resources available to help you create a plan and get expert advice to start your tourism business. Tourism BC publishes a comprehensive guide that identifies the resources available to new tourism businesses. Order “Starting a Tourism Business” online, visit Tourism British Columbia: Community Development.
Small Business BC offers comprehensive information on how to start a business. Although the information isn’t tourism-specific, there is a wealth of information available both on their website and through their offices. From one-on-one seminars, to web resources, and printed guides, you can access many valuable tools. For more information visit Small Business BC.
Resources
Starting a Business
Funding
Tourism Specific
Special Interest
For further resources please view For Employers > Resources & Links.
