Do you work full time and have a business idea?
If you are working for someone else but have a great idea, something you would like to do, a business you would like to try, why not start part time and put your energy towards something for you and your future!
Many entrepreneurs have started their businesses on a part time basis
It would be amazing if we could have money handed to us to start a business on a full time basis and put all of our energy into it but the world doesn’t work that way. We all have bills to pay, and commitments already made. Often individuals feel like they can’t instead of feeling like they can when it comes to starting a business. In the famous words of Henry Ford “Whether you think you can or you can’t, you’re right.” There are more entrepreneurs who started their businesses part time and now have successful businesses then ones who were able to commit to a full time business endeavour from inception.
Don’t let fear stand in your way
No matter what the situation, fear often plays the biggest part in holding ourselves back from trying something new, shaking things up and putting ourselves out there. When speaking with new business owners everyday and doing this for the last 25 years, I hear the anxiety, the fear and worry so many people have. Don’t let fear get in your way. You can do this, learn new things, push your boundaries and maybe just maybe build a whole new life that is fulfilling, adventurous where you have now put yourself in the drivers’ seat for your life.
How to get the ball rolling
Let’s turn that great idea into something functioning. Most people don’t know this but you can operate a business using your own first and last name without
needing to register a business. You already basically own your own personal name so you can use your name to promote a business. If you are doing something like offering yard work, dog walking, or errands for individuals, you may be able to introduce yourself personally and obtain some extra income and fulfillment without having any costs at all.
Starting a business name
If you want to start a business and use a business name, it’s pretty inexpensive. You can start a small business known as a Master Business Licence for under $150.00 for a 5 year period. This is terrific and allows lots of time to get your business active while maintaining your full time employment.
Have you thought of a business name? This can be amazing, creative, and fun. Think of a name that is unique to you. Try to be original and give a descriptive element (what you do) that will help others understand what you are offering. Just to give you a few examples of business names.
JUPITER COOKIE COMPANY – This name provides a unique identifier (Jupiter), a descriptive element (Cookie) and an ending to the business name (Company).
FASTRAD ELECTRICS – This name provides a unique identifier (Fastrad), a descriptive element (Electrics) and no ending to the business name.
SAMUEL’S UNIQUE WOODWORKING – This name provides a unique and perhaps personal identifier (Samuel’s) and two descriptive elements (Unique Woodworking) and no ending to the business name
When choosing a business name, try to find a name that you can brand and make your own.
With the word Jupiter, you can have fun and use the planet Jupiter as part of your imagery together with your cookies.
With Fastrad, you could use something showing speed as part of your imagery together with displays of electric products or services.
With the name Samuel’s, you as a business owner can display yourself in your imagery. Have your face be the brand for the business. People like an individual who is the face of a business, it makes the business owner appear to be honest and upfront.
How to complete the registration
The process is very simple. If you have thought of a business name and are ready to get started, the additional details required are the business activity, your legal name, address and the business address. If your business is going to be out of your home, no problem, you can use the home address as your business address.
Ontario Business Central can help you get things rolling to taking your idea and making it a business. Reach out to us and let us assist you to bring your idea to reality.
If you have not yet registered your business, you can get it all done online, whether you choose to register a small business or incorporate:
SMALL BUSINESSES
INCORPORATIONS
BRITISH COLUMBIA INCORPORATION
If we can be of assistance, please feel free to reach out to our staff for any clarification or assistance you may require.
inquiries@ontariobusinesscentral.ca
Toll-Free: 1-800-280-1913
Local: 1-416-599-9009
Fax: 1-866-294-4363
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.
