There’s no doubt, Ontario is one of the best cities to start a business in Canada. For one, it’s the most extensive local economy, with over 14 million residents and growing. Similarly, it boasts the highest per-capita income in Canada.
The business environment is highly established with all necessary infrastructure, making Ontario business registration easy and hustle-free. While looking at registering a business, you need to decide whether it will be a partnership, sole proprietorship, or limited liability.
Naming Your Business
Incorporating a business involves a bit of paperwork. You will need to comply with incorporation articles defined under the Business Corporation Act. To get access to these forms, visit an attorney or online. With the digital age, it’s far easier done online.
Alternatively, you could work with an attorney if you’re uncertain about the whole process.
Licensing
Once you have a business name, you will require various licenses for your business. They are specific to the kind of business you are going to operate. If you require assistance with this, you could visit a local Ontario trade website, for further clarification.
Business Registration
Once you have your business name and licenses as part of the Ontario business registration process, you will have to incorporate it. Keep in mind, all these steps are necessary before opening any business in Ontario.
Your Ontario business registration is valid for five years. Upon expiration, you will have to renew it. So, it’s up to you to keep track of time, and do so accordingly. Lastly, if you buy or sell a business, you will need to register it afresh once ownership has changed.
