Archive for August, 2010

I thought I would do a blog post on the motherland. I am a proud Canadian who loves his hockey, Cadbury chocolate bars and health care. I have had the opportunity to be an entrepreneur in both the USA and Canada and have found things to rave about from both experiences. Today I find myself in the USA, specifically in Utah and have to say there is an incredible entrepreneurial spirit that is supported and celebrated here in Utah. It makes doing what I do more enjoyable.

moving your businessmoving your business to the USA

If you are thinking of taking your business from the USA to Canada or from Canada to the USA I thought I would offer a few pointers from personal experience.

Taxes – not all states are created equal in the USA, Delaware and Nevada are both done have an income tax BUT Delaware does charge fees based on your assets or your shares outstanding which in some cases can be beyond what you would have paid. Not all province/state are created equal either. If you are going to set up a corporation in Canada, be aware there are some very competitive laws for small business earning under 200k/year that keep your taxes lower than in the USA. I am not a tax accountant, but that is the prevailing message I get from the professional I use. In Canada be prepared to keep track of both provincial sales taxes as well as federal sales tax – GST. Definitely a pain in the butt but I believe that is the definition of taxes isn’t it?

People – For the most part Canadians and Americans think the same, if you are from out East in the USA you are much closer culturally to the east coast of Canada than to Texas. The border of Canada and the USA really should have been divided East West instead of North and South. It would have collected a closer mind set in each country. One thing that I will say that is universal in Canada is Hockey and health care, not to mention beer. If you have ever watched Bob and Doug McKenzie you may be slightly off your typical Canadian, but not too far.

Relationship – The relationship between Canada and the USA is the closest and most extensive in the world. This includes bilateral trades which sum up to $1.5 billion a day in goods, as well as hundreds of thousands crossing the shared border every day. Canada and the USA work closely together on federal and local levels, whether it is about law enforcement, protecting the environment, or fighting terrorism. The USA is Canada’s largest foreign investor and Canada is the USA’s fifth largest investor. They rely on one another for manufacturing, financing, mining, and other services.

Traveling – When traveling back and forth from Canada to the USA, you must have proof of citizenship such as a birth certificate with a photo ID, a valid passport or visa – that is by ground and air. For more information on what is prohibited when crossing the border, click here.

If you have any questions about taking your business from the USA to Canada or from Canada to the USA, please leave me a comment and I will get back to you.

Entrepreneurship = Freedom

Posted by admin under Freedom

Entrepreneurship can be a ball and chain, it never leaves you no matter where you go, but it can also give you a lot of freedom. Now with smart phones being as advanced as they are you can get into your network and access all your files right from the dock of your summer home on the lake. When I was visiting with a fellow entrepreneur about this we laughed about how connected we are with our businesses and actually kind of like it.

Passion for your business comes out in everything you do, you live your brand, it is part of you and your DNA and it makes life more enjoyable. Years ago when I worked in a more “corporate” environment, weekends were looked forward to, now I often look forward to the weekdays. Strange I know, I think I may be sick but for now I love it.

So why are people so interested in entrepreneurship? It is not only the freedom, but it is also acknowledged as the key driving force for the incredible growth of capitalism. As risk increases so does reward. You make your future, you make your schedule, you create the opportunities, and you feel fulfilled. That is the foundation to entrepreneurship.

What makes you tick? Is there something that you find yourself dreaming about while at the office? Whatever your dreams are, pursue it, life is too short and you will always wonder what would have happened if you did.

Click here for more information on entrepreneurship.

Subscribe to D Scott Abbott
Copyright© 2009