{"id":2982,"date":"2022-10-19T13:49:00","date_gmt":"2022-10-19T17:49:00","guid":{"rendered":"https:\/\/www.ontariobusinesscentral.ca\/blog\/?p=2982"},"modified":"2025-08-07T10:28:53","modified_gmt":"2025-08-07T14:28:53","slug":"the-essential-guide-to-starting-a-small-business","status":"publish","type":"post","link":"https:\/\/www.ontariobusinesscentral.ca\/blog\/the-essential-guide-to-starting-a-small-business\/","title":{"rendered":"The Essential Guide to Starting A Small Business"},"content":{"rendered":"\n

Originally Published: Nov 5, 2019<\/em><\/p>\n\n\n\n

You have a great idea for a business, and you\u2019ve made the decision to start your business to become an entrepreneur – that\u2019s great news, but where do you even get started?<\/p>\n\n\n\n

Taking the step towards becoming your own boss can sometimes feel like a leap of faith and can involve some trials and error before you can narrow down what works best for you. But, there are some things that you can do to help ensure you\u2019re starting off on the right track, and leading yourself and your business down the path of success.<\/p>\n\n\n\n

Let\u2019s take a look at a few essential things you will want to do while you establish and grow your new business:<\/p>\n\n\n\n

1. Choosing your business name<\/h3>\n\n\n\n

The name you choose for your business<\/a> helps create your brand identity and can have a major impact on the success you see. You will want a business name that\u2019s memorable and makes your business stand apart from the competition, but you will also want it to be a name that lets your customer base know what your business does.<\/p>\n\n\n\n

You will generally want to have both a distinctive and descriptive element to your business name. The distinctive element is what gives your business name its uniqueness, where the descriptive element tells people what you do.<\/p>\n\n\n\n

DISTINCTIVE<\/strong><\/td>DESCRIPTIVE<\/strong><\/td><\/tr>
UNICORN<\/td>CUPCAKES<\/td><\/tr>
BEACH WAVES<\/td>SURF BOARDS<\/td><\/tr>
GLITTER & LACE<\/td>JEWELLERY<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Before you complete your business registration, you have the opportunity to pre-search the business name<\/a> you\u2019ve chosen to see if anyone else has already registered the name or something similar.<\/p>\n\n\n\n

When you include a name search with your small business registration, Ontario Business Central<\/a> searches for different variations of the business name for any existing businesses, corporations and Trademarks that are similar. This gives you the chance to make changes to the business name before registering it.<\/p>\n\n\n\n

2. Getting your business registered<\/h3>\n\n\n\n

After finalizing what your business will be called, it\u2019s time to determine the business structure and get the business registered. There are two options for the type of business you are able to register. You can register your business as either a small business or a corporation, and before you decide, you\u2019ll want to understand the differences between these two types of business structure setups.<\/a><\/p>\n\n\n

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\"Female<\/a><\/figure>\n<\/div>\n\n\n

A corporation is considered a separate entity from those who own it, so there is limited liability for the owners and income tax for the corporation<\/a> is filed separately. With a small business registration, individuals file business tax together with their personal tax returns. Corporations also have name protection<\/a>, where small businesses, such as Sole Proprietorships and General Partnerships<\/a>, do not. If name protection for your business is important to you, you may want to consider incorporating.<\/p>\n\n\n\n

Whether you want to proceed with a small business registration or incorporate, Ontario Business Central can help you get started in the following Provinces:<\/p>\n\n\n\n

SMALL BUSINESSES<\/strong><\/p>\n\n\n\n

ALBERTA REGISTRATION<\/a><\/p>\n\n\n\n

BRITISH COLUMBIA REGISTRATION<\/a><\/p>\n\n\n\n

MANITOBA REGISTRATION<\/a><\/p>\n\n\n\n

ONTARIO BUSINESS REGISTRATION<\/a><\/p>\n\n\n\n

SASKATCHEWAN REGISTRATION<\/a><\/p>\n\n\n\n

INCORPORATIONS<\/strong><\/p>\n\n\n\n

ALBERTA INCORPORATION<\/a><\/p>\n\n\n\n

BRITISH COLUMBIA INCORPORATION<\/a><\/p>\n\n\n\n

MANITOBA INCORPORATION<\/a><\/p>\n\n\n\n

ONTARIO INCORPORATION<\/a><\/p>\n\n\n\n

SASKATCHEWAN INCORPORATION<\/a><\/p>\n\n\n\n

FEDERAL INCORPORATION<\/a><\/p>\n\n\n

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