Before you can start operating your business, you need to register it with the Canadian government. Depending on the type of business you’re running, you may need to register at the federal, provincial, or municipal level—or all three. In this blog post, we’ll walk you through the process of registering your business so that you can get started on the right foot.
1. Choose a business structure
The first step in registering your business is to decide what legal structure it will have. The most common business structures in Canada are sole proprietorships, partnerships, and corporations. Each type of business has its own advantages and disadvantages, so it’s important to choose the one that’s right for you.
2. Register for a business number
Once you’ve decided on a business structure, you need to obtain a business number from the Canadian Revenue Agency (CRA). This nine-digit number is used to identify your business for tax purposes. You can apply for a business number online, by mail, or over the phone.
3. Register your business name
If you’re running a sole proprietorship or partnership, you can use your own personal name as your business name. However, if you want to use a different name for your business, you’ll need to register it with the appropriate government agency. In Ontario, for example, you would register your business name with the Ministry of Government and Consumer Services.
4. Obtain the necessary licenses and permits
Depending on the type of business you’re running, you may need to obtain certain licenses and permits before you can start operating. For example, if you’re opening a restaurant, you’ll need to obtain a food handling license. You can find out which licenses and permits apply to your businesses by checking with your local Chamber of Commerce or Small Business Association.
Registering your business may seem like a daunting task, but it’s actually quite straightforward if you know where to start. By following the steps outlined in this blog post, you can ensure that your business is properly registered and ready to start operating!