A Master Business Licence registration is available in Ontario to individuals who wish to register a small business. The Master Business Licence is an overall business set up allowing for 3 specific options:
- Sole Proprietorship (1 person)
- General Partnership (2 or more individuals)
- Tradename (doing business as name under an existing corporation)
The Master Business Licence offers a terrific opportunity for those in Ontario to register a business at a nominal fee but along with the low cost of registering, comes the limited availability of what this set up offers to those who register.
When you complete the registration whether a Sole Proprietorship, General Partnership or Tradename, you will receive a one page document for the registration itself. The registration will include the name of business, the address of the business, the name of the business owner, address and business activity. The registration will provide a Business Identification Number which is a 9 digit number specifically dedicated to your registration with the Province of Ontario; at the bottom corner of the registration the date of the expiry will be listed. This date provides you the 5 year expiry date of your registration. It is important to make note of this date as when it comes around, you will be required and are responsible to either renew the registration or allow it to expire.
It is important to understand what the Master Business Licence provides and does not provide to the business owner once it has been established.
The Master Business Licence provides the following:
- Registration is valid for a 5 year period
- The ability to operate a business name within Ontario
- To open a Bank account, tax accounts, obtain cheques, business cards
- Availability to access wholesale or discounted pricing from supplier
- Advertise and promote the business name
The Master Business Licence does not provide the following:
- Name protection against other business names in Ontario
- Liability protection for the individual owner
- Corporate tax benefits
- Continual registration
- Flexibility to make changes to the registration
The Master Business Licence is also known as the MBL, Business Registration, Sole Prop, GP, Style Registration and DBA.
All of these variations are used for this one product available to set up a small business in Ontario.
If you would like additional information or would like to set up your business with our office, we would be more than happy to assist you in completing.
When registering with Ontario Business Central there are benefits to allowing us to assist you.
They are as follows:
- We pre-screen the registration information against any restrictions applicable to the Province of Ontario regulations for Master Business Licences
- The availability to search the business name across Canada against existing small businesses, incorporations and trademarks
- Access to a secondary copy of your registration at no additional fee. Exclusively and solely available to you as the registrant
- Data maintenance and email notification when your registration is up for renewal
We have been assisting thousands of individuals to register their Master Business Licences for the last 25 years.
To register a Master Business Licence with our team, please click the link below:
If we can be of assistance, please feel free to reach out to our staff for any clarification or assistance you may require.
Office Hours: 9:00am – 5:00pm
Monday – Friday E.S.T.
Ontario Business Central Inc. is not a law firm and cannot provide a legal opinion or advice. This information is to assist you in understanding the requirements of registration within the chosen jurisdiction. It is always recommended, when you have legal or accounting questions that you speak to a qualified professional.
Laura Harvey is an entrepreneur herself as the owner of Ontario Business Central Inc. Her passion has always been about supporting the entrepreneurial spirit and advancement within Canada.
Laura authors in-depth blogs for Ontario Business Central assisting entrepreneurs and business owners to start, manage and grow their businesses. She has almost 30 years of expertise as a corporate specialist and 25 years of being an entrepreneur. Laura has the unique position of supporting a community that she also belongs to. She walks the walk right along with you.
You can find Laura on Linkedin and Twitter.