Government links to help get your business up and running.
Business Number Registration Dealings with the Federal Government involve the establishment of a Business Number. The (BN) is a federal numbering system, which is assigned to a business (one business, one number) to deal with the Canada Revenue Agency (CRA). From the Business number, other account numbers are derived for GST, Payroll Remittances and Income Taxes.
Business Registration & Renewal Registering your business name in Ontario can be done on-line for $60.00. You will need to register a business name with the Province of Ontario if you are not operating under your legal name. You can pay on-line using your credit card. Simply click on “Review the intro page and select Start Online Service which is located at the bottom of the page”.
Employee or Self-Employed? It is important to know whether the relationship you have with an employee or worker is that of an employer/employee or that of a contractor/subcontractor. There are many issues that are at stake such as CPP, EI and WSIB. Do not assume that you are in a self-employed relationship until you review this recommended page.
Financial Consumer Agency of Canada (FCAC) The more you know about money, the more money you’re likely to have. That’s why the FCAC has come up with dozens of tips and ideas to help you beat debt, stick to a budget and improve your finances.
Harmonized Sales Tax Registration While it is not mandatory to register as a HST collector until your business achieves a level of sales exceeding $30,000 in a twelve-month period, it is a good idea to do so. There is no cost to register as a HST collector. Once registered, your business can charge HST plus have the added advantage of being able to recover your business HST costs. It involves a little extra bookkeeping but it can save you money. Eventually, most entrepreneurs should expect to have sales in excess of $30,000 and the added record keeping will be necessary. Why not get in the habit from the outset? Being registered indicates to your customers that your business is “real”.
Preparing a Business Plan Do you have a Business Plan? The Government of Canada, through its Canada Business web site offers assistance in many forms. A detailed plan is a good place to start.