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When you are looking at starting a new business or have grown your existing business from a Master Business Licence to the point where you have decided to move to incorporation, there are specific parameters available to an incorporated business that are not available with the registration of a Master Business Licence.
When you incorporate a company, the incorporation is continual meaning you never have to re-register or complete the incorporation process again.
Ontario Business Central has been assisting individuals to register their business for over 20 years. From speaking with the consumers, we have compiled commonly asked questions about how to register and what the process entails. We offer this information to help you register.
Last week, I sat down with a young guy who is about 25 years old who asked for a bit of my time over dinner to answer his questions about starting a business. When we sat down, I could see his nervousness and excitement in the new venture. After spending a few hours with him, I thought it might assist those of you who wish to start a business to share our conversation over dinner.
His first question was one I am asked by clients often. The business has to be set up first, either by registering a business or incorporating. Once the business has been set up, you can take the registration or incorporation to whatever financial institution of your preference and remember to bring photo ID along with you.
Finding a business name comes with its challenges but also provides the opportunity for creativity and fun. Overall, brainstorm to find a business name is unique, catchy and easily understood by potential customers. We so often have people come to us with generic names such as A & A or AKT. A business name this general makes it very difficult for promotion and reduces the ability to grab your customer’s attention as it doesn’t necessarily differentiate your business or let customers know what you offer specifically. You want to have clients view your business name versus someone else’s and to push further into getting a sale.
The Province of Saskatchewan has taken action to create legislation around the Canada-wide legalization of non-medical cannabis. Those who wish to operate a non-medical cannabis business must adhere to these specific guidelines designed explicitly for recreational cannabis businesses in Saskatchewan.
The Province of Manitoba has established regulations around the purchase, possession and consumption of cannabis within the Province, following the nation-wide legalization of non-medical cannabis. Along with a minimum age of 19 for use, purchase and possession of cannabis, Manitobans are also barred from carrying more than 30 grams, growing at home and driving while impaired. Licenced retailers in the Province are the only legal source from which customers can purchase their non-medical cannabis.
With the Federal legalization of non-medical cannabis, the Province of Alberta has created legislation to provide for legal and controlled access to non-medical cannabis. For non-medical cannabis business owners, some specific guidelines and regulations must be followed in order to operate a non-medical cannabis business in Alberta.
In response to the Canada-wide legalization of non-medical cannabis, the Province of British Columbia has created legislation to allow for the safe, legal and controlled access to non-medical cannabis throughout the Province. Included in this legislation are guidelines and regulations that non-medical cannabis business owners must adhere to operate their business in the Province of British Columbia.
We have taken a deep dive to provide you with the most recent information on cannabis and the Province of Ontario. We will lay out the information as simply as possible so you, as an entrepreneur, know what is involved and the steps that need to be taken to purchase and sell recreational marijuana.
There is a common misconception that when you register a business, the business name automatically has name protection. This is not true. If you register a Master Business Licence, Sole Proprietorship, General Partnership, Partnership or Tradename (operating name) under an existing corporation, these do not have name protection.
If you incorporate a business, you will have name protection exclusively for that exact business name within the jurisdiction in which you incorporate. Each Province is different in their way of managing name protection, so I will provide a few examples specifically to assist you with commonly incorporating jurisdictions.
We often have clients call, who started their Not For Profit incorporated business a number of years ago. And, after the organization has been passed many times over by many individuals, the original Letters Patent or Not for Profit incorporation documents have been lost.
The Province maintains a copy of the originating documents to any incorporated business on microfiche, and a copy of the documents can be ordered and copied.
If you are looking at registering a Master Business for a business in Toronto, there are two options available to you to do this.
From the convenience of your home or office, you can register a business online within a few minutes. The online process provides the Master Business Licence, whether a Sole Proprietorship, General Partnership or Tradename, to you by email in a PDF file. The electronic copy of your registration is just as valid as the manual filing and also allows you the ability to save the registration on your computer if duplicate copies are ever required.
The Yoga industry is a booming business. From all over the world people have shown interest in yoga to get relief from stress and to have a balanced physical and mental health. If you are enticed to turn your yoga skills into a thriving business here is an overview of what is required to register.
