You have a business idea, and you’ve determined that it is viable. Now what?

Before you launch your effort, you’ll want to consider how it will be structured: should you incorporate, or keep it as simple as possible? In large part that will be determined by your own circumstances and goals, plus some basic characteristics of business structures.

Pricing your products can feel like guesswork—but it doesn’t have to be. A good pricing strategy can be simple, start with knowing your costs and then apply a couple of formulas to make an informed decision.

Step 1: Know Your Costs

There are two main types of costs:

If you're starting a business in Alberta, the CRA Business Number is one of those terms that gets thrown around a lot. So, here we’ll break down what it actually is and why you might need one.

A Business Number (BN) is a unique 9-digit number assigned to your business by the Canada Revenue Agency (CRA). Think of it like a social insurance number but for your business. It helps identify your business when you’re dealing with federal and provincial tax accounts or government programs.

A Business Number allows access to many CRA Program Accounts and business actions, including: 

Starting a business is exciting. You’ve put in the time to plan, build, and launch—now there’s just one small thing left: your first sale.

Most business owners don’t start their journey thinking they’ll be selling all day. You might be passionate about baking, photography, landscaping, or designing websites—but suddenly, you find yourself pitching, explaining, negotiating, and following up.

Remember that you are the best salesperson your business will ever have. Not only are you passionate and informed, but you are also invested in seeing it succeed!

Jack Miller hosted the first spring rodeo in the Hand Hills in 1917. The one-day-only open rodeo was organized to raise money for the Lonebutte branch of Red Cross. Since then, that spring rodeo has blossomed into the Hand Hills Lake Club, which now hosts a Pro Rodeo sanctioned by the Canadian Professional Rodeo Association and the Professional Rodeo Cowboys Association.

The weekend is not to be missed: free camping and a pancake breakfast accompany a full schedule of rodeo events and live music. Historically, it’s been attended by over 1200 people each year, and this year it will be held May 29-31, 2026.

The Badlands Trail Society started in 2023 with a small group of like-minded friends who
believed in the potential of the valley. They felt that something special was waiting here for
residents.

This includes their secretary, Pam MacDonald, who says, “There are so many opportunities here
for people to explore the outdoors. We’ve got to build some community here around outdoor
activity and a love of living here and engaging with nature.”

For more than 40 years, Drumheller Community Learning Society (DCLS) has welcomed people at every stage of their learning journey. Some stay for a short time, brushing up on skills for work or life. Others are here longer, working toward high school completion and sometimes continuing to their licensed practical nursing program. However long the journey, there are always programs and courses to keep clients moving forward.

Every business goes through ups and downs, but an economic slowdown or seasonal change can hit especially hard. The good news? There are strategies you can employ to weather those hard times and come out more resourceful. 

1. Trim Variable Costs First: Variable costs are expenses that change based on your output, like materials, packaging, shipping, and hourly wages. These aren’t set in stone like rent or insurance and are easier to adjust. For example, you might reduce production amount, search for better priced suppliers, or switch to more cost-effective packaging. 

Assess which variable cost you value the least and start to reduce costs in that category.

Formula to calculate total variable cost:
Total Variable Cost (TVC) = Variable Cost per Unit × Quantity Produced

Community Futures is a program of the Government of Canada (PrairiesCan), mandated to offer three core business services (business coaching, business training and business financing). Community Futures is also mandated to engage in community economic development (CED) through projects and partnerships.

The Drum Discovery project has been a very positive example of local organizations working together to find a solution for a problem. The project partners are Community Futures Big Country (CFBC), Drumheller & District Chamber of Commerce, Travel Drumheller, Town of Drumheller (Community Development & Social Planning) and MH Enterprises. The Royal Tyrrell Museum has provided the customer service training component, based on the program they provide to their own employees.