What industry are you in? How do you or would you compare?

Were you thinking about leaping on the entrepreneurial band wagon, especially now that Intuit Canada has come up with the offer of a free year of access to QB Online for start-ups?

Before you leap, you might want to see what the profitability for your choice of industry might be. How much do you need to support you and your family in the style to which they have become accustomed? I'm always surprised by how many people in Canada report income of $30,000, and yet, have huge houses with what must be gigantic mortgages. If interest rates go up, that delicate balance could be totally upset by banks refusal to continue to finance the mortgage without more income reported. Then what would these people do?

Industry Canada has such interesting information, and they have their fingers in so many pies. If you're looking to trademark, copyright, or if you sell anything that is measured, they control the Weights and Measures, and if you were thinking Foundation or Not for Profit, they're into that too..

But back to the entrepreneur. Did you know that food truck you were thinking about starting? For all your blood sweat and tears, what would you earn? Here's where you'll find what others report.  Now, be careful, especially if it's a cash-based industry, because the numbers here may not be what they actually earn.

https://www.ic.gc.ca/eic/site/cis-sic.nsf/eng/home