Fundamentals of Business in Canada.

Running Head: Fundamentals of Business in Canada
[Company name]
Fundamentals
of Business in
Canada
[Document subtitle]

Fundamentals of Business in Canada 1
Contents
Business Name...........................................................................................................................2
Business Objectives and Industry Overview..............................................................................2
Ownership Plan..........................................................................................................................3
Mission Statement......................................................................................................................4
Product / Service Description.....................................................................................................4
Market Analysis.........................................................................................................................5
Marketing Plan...........................................................................................................................5
Competitive Analysis.................................................................................................................6
Organization Structure...............................................................................................................7
Startup Expenses........................................................................................................................8
References..................................................................................................................................9

Fundamentals of Business in Canada 2
Business Name
The company is present in the environment of Canada where fashion industry is
highly profitable. Therefore, the organization aims to enter in the clothing retail segment of
Canada. The company is going to announce of the name of the business in the market that
would be New Street Fashion Company.
Business Objectives and Industry Overview
Below mentioned are the list of goals and objectives of the company New Street Fashion
that the business would implement after its inauguration in Canada market:
 Attract customers and attain equilibrium in the initial year
 Attain profitability of 25% after first year and maintain consistency for next 4 years.
 Attain market share in fashion segment of 15% in the initial 5 years of inauguration.
Talking about the fashion industry analysis of Canada, it should be noted that the
Canadian fashion industry holds value of 43.6 billion Canadian dollar in the worldwide
environment. This data involves the revenue earned by the companies in respect of clothing,
accessories and footwear as well. The fashion industry provides employment to 44500 people
in Canada which can be said that the industry provide sustainable living to many people in
the society. 96% of people in Canada expend their income on clothing and fashion industry
while other 4% is spent on food, transport and other segments. All in all there are 25000 retail
and wholesale fashion companies present in Canada and total turnover of fashion retailers
was 28 billion Canadian dollar. Two biggest fashion companies in the given industry are
Hudson Bay and Gildan Activewear (Fashion United, 2020).
Considering environmental conditions of Canada, it should be noted that political
environment of Canada because it has strong ties with strong nations like USA and European

Fundamentals of Business in Canada 3
Union. The GDP of the nation is stable that is eventually upraising the economy as well. The
country is a part of G20, WTO, OECD and Commonwealth of Nations as well. The nation
has diverse economy that provide opportunity to people to work for achieving growth and
productivity in the society. The nation also draws attention of the investors due to its
favorable environmental conditions. The country is the 2nd largest nation in the world in terms
of area but the population is saturated to an optimum level. Therefore, it can be said that the
nation has wide diversity of resources and space in the environment that can be used of
companies in increasing their growth and profitability in the environment. Lastly, it should be
noted that technology is widely available in the market of Canada that supports the
companies in upraising their products and services to provide better benefits to customers in
the society (Government of Canada, 2020).
Ownership Plan
The company would inaugurate New Street Fashion itself as a form of sole
proprietorship ownership. It should be noted that the company has limited funds for the
business and initially they focus on capturing smaller target segment and then significantly
growing to the larger market. Sole proprietorship is adequate for the organization because it
would provide complete control to the organization. This type of business structure does not
have separate existence from the business owner. This type of structure is the simplest form
of business does not involve paperwork or large scale extensive operations (Queiroz, &
Oliveira, 2014).
This type of ownership structure involves the type of structure in which the business
owner is personally responsible for the debts of the business. The biggest advantage of this
type of business structure is that the owner is the boss in this type of business and he does not
face any type of interference of any person. The profit is saturated to the owner of the