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Researching The Industry

Researching the industry will give you ideas on how you can compete and succeed in it. You will gain an understanding of:

• its sectors (manufacturing, retails, services, wholesale, transportation)
• its size - sales volumes and amounts, number of competitors, profitability
• industry trends - i.e., is it new, growing, mature, or declining?
• distinctive characteristics - i.e., a few dominant suppliers, heavily regulated
• opportunities
• industry challenges; and
• where you will fit into the industry.

You will find industry information from a variety of sources including Statistics Canada.