How To Start a Business in Canada – The Simple Essentials

How To Start a Business in Canada – The Simple Essentials

To set up a business in Canada and being prepared for business is mostly a simple process. It’s a combination of several little things that are necessary to get started.

Obviously, there are many factors in the starting of a business in Canada which will need to be considered at some time, a significant amount of which are far beyond the scope of this website. This blog will be concerned with the little things that need to be completed before opening for business.

1.0   Register the business in your province or Territory. This is the first step to be completed, as it will provide you with a Business name, a GST/PST/HST account number, and other information to communicate with the Government and other Agencies.

The business registration will also provide you with a Payroll account for Canada Pension Plan contributions, Employment Insurance, Workplace Safety and Insurance Board, and an Import Export account if needed.

2.0   A business registration in Canada is typically a sole proprietorship, a corporation, or a partnership.

To choose a particular business registration method will depend on the nature of the business, or contractual arrangements as a sub-contractor. Each type will be expanded upon separately and the reader is urged to read all three descriptions before choosing one.

At the end of the business registration process, you would have been issued with a Master Business License (for sole proprietorships), or a Certificate if Incorporation for Corporations. A partnership can be a combination of any of the two business registration types, i.e., sole proprietorships or corporations.

3.0   Select an Appropriate Phone Number.

What kind of phone service would you require? A home based business may use a cellular phone. A plumber, electrical or HVAC technical may utilize a cellular phone only.

A lawyer, accountant, or engineer may have to rent an office and therefore will need a landline as a default phone type, and the cellular phone can be used as a backup or for personal use.

There is also the option for Toll Free Numbers for businesses that may generate many calls from out of the Province or Territory, or from the US.

4.0   Sign Up for a Fax Number.

There will be occasions where someone will want to send a fax, or you will need to receive a fax.  Even though its present day uses have been reduced due to emails, all business have one. MoneyandBusiness.ca recommends an Email Fax. It’s an easy option to have the full functions of faxing without the traditional hardware.

5.0   Register for a Professional Email.

An email of at yahoo or at hotmail spells cheapness and distrust. Free emails programs are perfect for personal emails or to communicate with family or friends. A business needs its own email specifically with its business name. info at moneyandbusiness.ca is professional as compared to moneyandbusiness@yahoo.ca.

6.0   Choose a Business Location or an Address

The type of business required may either require a brick and mortar office, or simply an address to use that is not your home address. The last thing needed is for strangers to begin showing up at your doorstep. 

The first option is easy. Rent an office, and use that address as the business address. This applies of course to businesses that requires a phycial address like retail stores.

The second option is to be used by small companies, sole proprietorships or small partnerships without the need for a brick and mortar location.

A PO Box at the local Post Office can suffice as an address. However, there is a better option to rent a mail box at a local UPS Store.  There are options from the UPS Store.

In some cases, it may be better to do this first as then that address can be used as the mailing address when registering a business in Canada.