For ambitious Canadian businesspeople, few cities offer the same kinds of opportunities that Toronto does. Not only is Toronto Canada’s largest city, but it is also the country’s capital of finance and the second-largest financial services centre in North America.
Every day, millions of dollars worth of local, domestic, and international business are conducted, and the networks, supply chains, and marketing opportunities available in this lakeside powerhouse place it alongside world cities like New York, Los Angeles, and London.
But while the rewards for making it in Toronto are great, the challenges can be even greater, and if you want to get your small business off the ground in Toronto this year, here are three key things you’re going to need.
1. Long-Term Funding
No small business can grow without long-term funding, and this is especially true in a city like Toronto, where rents and cost of living are high, and the barriers to entering the market can be incredibly steep.
In order to get your business off the ground, you may need to rent space, hire staff, purchase inventory, and invest in equipment — and that’s on top of the money you’ll need to plan advertising campaigns and handle the everyday incidental costs of doing business, which can add up quickly.
Even the best idea in the world won’t succeed if you don’t have the money to make it a reality, and this is doubly true in such an expensive city as Toronto.
But while Toronto may be Canada’s finance capital, this doesn’t mean it’s easy to get funding. The funding that is available from large banks can come with complicated fees structures and can end up costing far more than it should.
If you want to get small business funding in Toronto from a reliable, transparent funding partner, then you need to get in touch with SharpShooter Funding. We pride ourselves on our ability to be an essential financial bridge for small businesses that have a great product but simply need some extra capital to reach their full potential.
At SharpShooter Funding, we make it easy to apply for funding, and unlike other financial institutions, we process applications all week. We fund seventy-fiver percent of all applications, and we can sometimes let you know within twenty-four hours whether you’ve been greenlit for funding, so you get the money you need as quickly as possible.
2. A Lucrative Niche
Every business needs to start somewhere, and even if you have big dreams for how you’re going to take Toronto and then expand across Canada, your initial focus should be on building a reliable customer base within your niche.
Toronto offers a dizzying range of opportunities for specialization, so the best way to get your foot in the door is by consistently doing one or two things well, and then building out once you’ve started to develop some brand loyalty among your customers.
Scaling your business up as time goes on is much easier if you have a proven track record of meeting customer needs and generating excitement about your product.
But while it is important to make sure your niche is a lucrative one — that you are spending hundreds of thousands of dollars to build a company that doesn’t have a long-term future — online small business loans can be a great way to secure a firm foundation from which to build.
When you apply for funding through SharpShooter Funding, we offer you with lots of transparent and flexible options for repaying the cost of the capital. For as low as $500 a week, you may be able to secure as much as $10,000 upfront, giving you the freedom to cover the bills until the revenue starts flowing in.
3. A Twenty-First Century Advertising Strategy
Toronto is one of the largest cities on the continent, and one of the biggest challenges facing a small business is cutting through the noise to reach new customers, clients, and business partners.
Unlike in smaller centres, where you can leverage the uniqueness of your product or service to drive sales, in Toronto the competition in any sector is going to be fierce.
Fortunately, digital advertising gives you lots of options to focus in on your target market so that you are appealing directly to your ideal consumers. Building a twenty-first-century advertising strategy designed to make each dollar go as far as possible is essential if you are to keep your business sustainable during the first crucial years.
Naturally, this isn’t going to be cheap, so you should make sure to budget accordingly. You have to spend money to make money, so apply now for support from SharpShooter Funding if you need new tranches of capital in order to launch your first big ad campaign.
Starting a business is one of the most fulfilling things a person can do in their life, and in a city like Toronto, the sky really is the limit.
But finding success in Toronto’s dynamic and ever-changing economy means going head to head with serious competitors, and you need to make sure you have the funding to take the fight to them while you build your customer base and fine-tune your products and services.
At SharpShooter Funding, we know just how transformative funding can be for small businesses, which is why we partnered with Bret “The Hitman” Hart to help provide Canadian companies with the long-term funding they need to compete.
Get in touch with us today to learn more about our merchant capital advances, our streamlined application process, and our transparent approach to funding. With SharpShooter Funding behind you, making your mark in Toronto is easy!
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This post was written by sharpshooteradmin