BLT

BLT Small businesses in British Columbia, those with fewer than 50 employees or self-employed, provide employment to over 1 million people.

These jobs account for 54 per cent of private sector employment within the province.

Step 10: Complete Other RegistrationsYou may also need to complete other provincial, federal or local government registr...
18/02/2022

Step 10: Complete Other Registrations
You may also need to complete other provincial, federal or local government registrations. The registrations that follow can be completed through the OneStop Business Registry.

For example:

If you plan to hire employees – or have established your new business as a corporation – you will need to register with WorkSafeBC and pay WorkSafeBC insurance premiums.
This will ensure you and your workers are covered in case of work-related injury or disease. If you are self-employed, you may also want to apply for WorkSafeBC’s Personal Optional Protection.

If you are hiring employees and you are paying salary, wages, bonuses, vacation pay or tips to your employees – or providing a benefit to your employees such as boarding or lodging – you will need to register with the Canada Revenue Agency (CRA) for a payroll deductions account. This account will enable you to make the required Income Tax, Canada Pension Plan (CPP) and Employment Insurance (EI) payments. For more about payroll deduction accounts, call 1.800.959.5525 or go to the CRA’s website.
If your business is incorporated, or you are a non-resident corporation operating in Canada, you will need to register for a Corporate Income Tax account with the Canada Revenue Agency.
If you are going to import or export goods, you will need to register with the Canada Border Services Agency (CBSA). You can register your business with the CBSA through the OneStop Business Registry. For more information about importing and exporting, go to the CBSA’s website.
If you have a restaurant and will be serving food, as the primary focus of your business, as opposed to liquor, you can apply for a restaurant liquor licence through the OneStop Business Registry.
For more information about a restaurant liquor licence, go to the Liquor and Cannabis Regulation Branch’s website.

If you need to change your business address through the OneStop Business Address Change Service, or plan to access other government e-services regularly, you will need a business BCeID. You can apply for a business BCeID through the OneStop Business Registry. A BCeID is an online service that makes it possible for you to use one login ID.

Step 9: Register for Goods and Services Tax (GST)If you sell or provide goods and services in Canada and your annual wor...
18/02/2022

Step 9: Register for Goods and Services Tax (GST)
If you sell or provide goods and services in Canada and your annual world-wide GST taxable sales, including those of any associates, are more than $30,000, you may be required to register for goods and services tax (GST).

To register online with the Canada Revenue Agency, go to the

Step 8: Register for Provincial Sales Tax (PST)PST is a retail sales tax that applies when a taxable good or service is ...
18/02/2022

Step 8: Register for Provincial Sales Tax (PST)
PST is a retail sales tax that applies when a taxable good or service is purchased, acquired or brought into British Columbia, unless a specific exemption applies. This means that if you sell or lease taxable goods or services, or provide accommodation, in British Columbia, you may be required to register with the Ministry of Finance to charge and collect PST. To find out more about PST and how to register, go to the Ministry website.

Register for Municipal and Regional District Tax (MRDT). If you provide accommodation in certain areas of the province, you may also be required to charge MRDT on the purchase price of accommodation. The MRDT is currently collected in over 50 municipalities throughout the province and is used to fund tour ism marketing for

Step 7: Secure Your Online PresenceIn today’s world it is almost essential for a business to have an online presence, wh...
18/02/2022

Step 7: Secure Your Online Presence
In today’s world it is almost essential for a business to have an online presence, whether through company listings, social media or a company website.

Creating a website for your business is no longer the expensive and time-consuming activity it used to be; plenty of templates exist in which you can simply input your business information and publish. If you do choose to set up a website for your business, you will need to secure a domain name (a name that will identify your Internet website) and hosting. You can research whether the domain name you want is available, and buy the rights to that name. For a guide on how to launch your website, see Small Business BC’s Guide to Going Online.

It’s also important to secure your presence on social media early on in your business, even if you don’t actively use it until later. Social media, although very effective for many entrepreneurs, can also be extremely time consuming, so think about your product or service and decide which social media platform will make the best use of your time.

Small Business BC offers seminars and webinars for business owners who want to learn more about how to use social media to grow and develop their business. Register for an upcoming session.

You can also book a one-on-one session with a social media expert through Small Business BC as part of their Talk to an Expert series. Sessions are available at their Vancouver office or via Skype from anywhere in B.C.

Step 6: Register Your BusinessIf your business is a sole proprietorship or general partnership, you can register it quic...
18/02/2022

Step 6: Register Your Business
If your business is a sole proprietorship or general partnership, you can register it quickly and easily with the Province of British Columbia online using the OneStop Business Registration Service.

You will need VISA, MasterCard or American Express to complete and pay for this transaction online.

Over-the-counter payments to register (using cash, debit card or cheque) are accepted at OneStop locations such as Service BC Centres. Call 1 877 822-6727 to find the location nearest you.

If you decide you want to incorporate, you must file an Incorporation Application with BC Registry Services. See the registry’s website for detailed information on the application process.

Apply online using Corporate Online (pick “File an Incorporation Application” on the home page).

Step 5: Choose a Business Name and Have it ApprovedChoosing a business name is one of the most important decisions you’l...
14/02/2022

Step 5: Choose a Business Name and Have it Approved
Choosing a business name is one of the most important decisions you’ll make when starting your business, and most likely one of the hardest.

If you want to use a business name that is anything other than your personal name, you will need to have your business name approved by, and then registered with BC Registry Services.

Business names must have both a distinctive and a descriptive element, like “ABC” (distinctive element) “Landscaping” (descriptive element). You must add a corporate designation, such as “Ltd.” if you are planning to incorporate your business.

If you need help coming up with a great business name, Small Business BC offers some tips on how to get the perfect name.

It’s a good idea to have a first, second and third choice for your business name, just in case the name you want is not available. You can do some preliminary research for potential conflicts by looking through telephone listings, business directories or similar publications. You can also search for existing names on the BC Registry Services to see if the name you’ve selected has already been registered.

You can download the Name Approval Request form. The form also includes guidelines for choosing a name.

The form is also available and can be processed at most OneStop locations. To find the OneStop location nearest you, call 1 877 822-6727.

You can also apply for a Name Approval Request online.

Submit your name approval request electronically to the Name Reservation Unit for examination at the Business Registry. Payment online is by credit card (VISA, MasterCard and American Express). There is online information available to assist you through the process.

Once your business name is approved, it will be reserved for 56 calendar days. Within these 56 days, you must register your business with BC Registry Services.

Step 4: Secure Your FinancingFor your new small business to succeed, you need to have enough money to cover business sta...
14/02/2022

Step 4: Secure Your Financing
For your new small business to succeed, you need to have enough money to cover business start-up costs and daily operating expenses for at least three months. If you don’t have enough money for start-up through family, friends, loans or lines of credit, you may need to consider outside sources of financing. For information about government, private and venture capital sources of financing, go to:

Small Business BC
Government of Canada - Business and Industry
Innovation Canada
In addition, financing for small business is available through the following:

The Canada Small Business Financing Program makes it easier for small businesses to get loans from financial institutions. The Government of Canada shares the risk with lenders to make it possible for more entrepreneurs to receive financing. For more information on eligibility call 1 866 959-1699.
Futurpreneur Canada provides youth aged 18-39 with start- up financing (loans up to $45,000) and mentorship to help launch and sustain successful businesses.
Women’s Enterprise Centre (WEC) provides business loans up to $150,000 to women in B.C. who own a business or are thinking of starting or buying a business.
If you live in rural B.C., visit your local Community Futures British Columbia office. To find the one nearest you, call 604 289-4222.
The Investment Capital Branch offers programs to help small businesses gain access to investment capital, from those just starting out to those wanting extra capital to compete in global markets. For more information call 1 800 665-6597 or visit.

Banks and credit unions can provide you with information on products and services designed to help your business operate effectively.

Step 3: Develop a Business PlanYou’ve no doubt heard the expression, “Failing to plan is planning to fail.” Many entrepr...
14/02/2022

Step 3: Develop a Business Plan
You’ve no doubt heard the expression, “Failing to plan is planning to fail.” Many entrepreneurs write a business plan only when they need to secure start-up financing. However, your plan is far more than a document for banks and investors to read; it’s an invaluable roadmap for launching and growing your business. With a plan, not only can you spot potential weaknesses, opportunities and threats, your plan can help you make informed decisions about your venture before you commit yourself legally or financially.

If you’re unfamiliar with business planning, start by reviewing Small Business BC’s “how to” guide on business planning.

To have someone review your business plan, make an appointment with a Business Advisor at Small Business BC. They offer business plan review services if you’re seeking financing, submitting a business proposal or just looking for a professional assessment. Small Business BC also offers services to review sections of your plan, such as the executive summary or the marketing plan. All information submitted to Small Business BC will be kept in total confidence and will not be distributed or communicated without first obtaining your express written consent.

Step 2: Understand Business StructuresMost small businesses are operated as one of the following:Sole proprietorship, th...
14/02/2022

Step 2: Understand Business Structures
Most small businesses are operated as one of the following:

Sole proprietorship, the owner/operator or self-employed
General partnership, with one or more partner
Corporation (also known as a limited liability company)
Small Business BC discusses the pros and cons of each business type and structure.

You can also find more information about the different business structures through BC Registries and Online Services.

There are other business structures, such as societies, franchises and cooperatives to consider:

British Columbia is home to a diverse range of not-for-profit organizations – also known as societies. Learn more

The Province wants to make sure that franchisees have access to the information they need to help make well informed decisions before purchasing a franchise. That’s why we have created a suite of materials to help inform your decision. Learn more

Corporations Canada (part of Innovation, Science and Economic Development Canada) provides extensive information on corporations, including the benefits of federal incorporation if you want to expand your business to other provinces.

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