STARTING A BUSINESS SERIES STEP ONE: REGISTRATION IN CANADA
I honestly believe everyone should have a registered business! When it comes to GST when selling online, influencer marketing or anything in general having a business really helps simplify.
My business is registered as a sole proprietorship, the process was super easy and the perks were amazing all because of OWNR.
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Example is registering as a sole proprietorship, Incorporation also available!
Individually owned small business should be registered as a sole-priorship, bigger should be incorporation which is also super easy through ownr.
Like I said before Ownr is amazing. Heres the deal… You can technically open it up for FREE with a slight catch, i’m going to show you how at the end of this post. Keep in mind this promotion ends December 2020 so make sure to register before then.
01. Click Here To Get Started With Your Own Business.
02. Fill out the info required then hit register.
03. Click On Register Your Business.
04. Have your business name ready.
0.5 Pass the Name Search.
The name search is to make sure your business name has no trademarks on it in Canada. Ownr will do it all for you you just have to type out your business name.
06. Choose Industry and a short description of your business.
Theres a lot of different industries to chose from, then you will have to provide a short description for example: A women’s retail business, or a service based business. I wouldn’t worry about that too much.
07. Pay for your fee.
Its about $100 to get your business registered in order to receive your business number which will come in the mail. MAKE PHOTOCOPIES, TAKE A PHOTO, AND STORE IT IN A SAFE SPOT! DON’T LOOSE THAT PAPER. I currently can’t find mine after moving and don’t remember my business number so just don’t loose it.
You can open a business account with RBC within 60 days of registering to basically be refunded. The money will go back into your business account. You are going to need a business account anyways so this works out great.
RBC Accounts: There are many different business account options but my personal favourite and the one I have today is the digital account package. The monthly fee is only $5 a month check it out below:
Put in your info then you will have to book a bank appointment when you have your documents. Make sure to bring that with 2 pieces of ID.
After opening an account go back into your OWNR account then click on refund under RBC, the money will be deposited into your business account. I believe it was just under two weeks for mine.
You’re all done, how easy was that??
Enjoy your new business!