How to Start a Business in Canada

Starting a business in Canada can be a rewarding and profitable experience. There's nothing like owning your own business, and there are few places as nice as Canada for owning your own business. If you have that entrepreneurial spirit, then read on to find out how to start your own business in Canada.

Instructions

Things You'll Need:

• Identification
• Money for filing fees

1. Step1

   Write a business plan. Although you can technically start a business in Canada without one, it is always a good idea to have a business plan that will guide you on your course to success. There are a number of sites on the Internet where you can download business plan templates for free, meaning that all you have to do is fill in the details about the business you intend to start.

2. Step2

   Register your business at the local municipality. Check with your local city government to obtain the address and office hours of where businesses are registered. Once you have registered a business with the local municipality, you will be given a license to conduct business in that area.

3. Step3

   File for your Goods and Services tax (GSA). The GSA is a federal tax, but it may not be required for all business owners. You have to file for a GSA only if your business revenues exceed $30,000 CDN for any 12-month period. If this describes your business, you must register and file GSA with the Canada Revenue Agency. For your convenience, a link is provided in the Resources section at the bottom of the page.

4. Step4

   Register for your Provincial Sales Tax (PST). The PST is a tax collected by the province that your business is located in. You must collect this tax from your customers and pass it on to the Consumer Taxation Branch of the province you operate in. When you register for the PST, you will be given a PST number. Keep this number in a safe location, because you will also be asked for it when you purchase wholesale or tax-free goods for purposes of resale.

5. Step5

   Check with your local province for any additional requirements. There may sometimes be additional requirements that exist in one province but not others. Checking with your provincial government offices will allow you to identify these in advance and to plan accordingly.