Starting a business in Canada involves several key steps and requirements. Here’s a basic checklist to help you get started:

1. Choose a Business Structure

  • Sole Proprietorship: Simple, but you’re personally liable.
  • Partnership: Shared ownership and liability.
  • Corporation: Separate legal entity (more complex but offers liability protection).
  • Cooperative: Owned and operated by members.

2. Register Your Business

  • Business Name Registration: Required if operating under a name other than your own (NUANS search needed for corporations).
  • Federal/Provincial Incorporation: If incorporating, register with Corporations Canada or the provincial registry.
  • Business Number (BN): Required for taxes, payroll, and GST/HST (obtained from the CRA).

3. Obtain Necessary Permits & Licenses

  • Depending on your industry (food, health, construction, etc.), federal, provincial, or municipal licenses may be required.
  • Check with your local municipality for zoning and operational permits.

4. Tax Requirements

  • GST/HST Registration: Mandatory if revenue exceeds $30,000/year (voluntary below that).
  • Payroll Deductions: If hiring employees, register with the CRA for payroll taxes.
  • Provincial Sales Tax (PST): Applicable in some provinces (e.g., BC, Manitoba).

5. Open a Business Bank Account

  • Keep personal and business finances separate (especially important for corporations).

6. Set Up Accounting & Bookkeeping

  • Track income, expenses, and taxes (consider using accounting software or hiring an accountant).

7. Business Insurance

  • General liability, professional liability, or industry-specific insurance may be required.

8. Intellectual Property Protection (Optional)

  • Trademarks, patents, or copyrights if needed (apply through the Canadian Intellectual Property Office).

9. Hiring Employees (If Applicable)

  • Register for workers’ compensation (WSIB or equivalent in your province).
  • Follow employment standards (contracts, minimum wage, benefits).

10. Business Plan & Financing

  • Prepare a business plan if seeking loans or investors.
  • Explore funding options (banks, grants, or government programs like the Canada Small Business Financing Program).

Additional Resources:

  • Canada Business Network (Canada.ca)
  • Local Small Business Centers (Provincial support)

Each province may have additional requirements, so check with your provincial government for specifics. Would you like help with a specific step?