BUSINESS REGISTRATION

Starting a business can be very overwhelming. There are many questions and we have the answers to them.

It can be really overwhelming to start or boot up a business. It’s normal to have questions in mind however our professionals have all the answers that you might need to commence a business. If you’re considering starting a business in Ontario, BG Accounting offers comprehensive business registration services that can make the process smoother for you.

Businesses come in many forms. A sole proprietorship, a general partnership or incorporation business. From sole proprietorships to partnerships, we can assist you with any registration needs. Besides this, we can also help you come up with a perfect business name to set the tone for your brand’s image.

We have a team of financial experts that understands the complexities of the Ontario business registry, making it easy for every business owner to start or expand their business.

Whether you decide to go solo or in a partnership there are two main legal structures. Sole Proprietorship or Incorporation. However, there is more than just the legal structure. Business Registration may also involve:

At BG Accounting and Business Solutions, we not only help you decide which registration is most suited for you, but we can also register you in less than 24 hours in most cases. Time is valuable in business. So, to save you from wasting that asset, our team of experts are available 24/7 to help your business get register without any difficulty. At BG Accounting, we aim to keep you focused on your business and let us handle complex tasks.

We offer hassle-free online procedures to ensure that you won’t get stuck in the complexities of paperwork. Provide us with your business details and we will handle the rest for you, ensuring accurate submission and prompt follow-up.

Is it best for you to Register or Incorporate?

Find out which type of business structure works best for you.
Once your business is generating revenue, you may need to register for, collect, and remit the federal goods and services tax (GST) or, in some provinces (like Ontario), the harmonized sales tax (HST).

Do you need to register?

Your business must register for a GST/HST account and charge GST/HST if you sell taxable supplies in Canada and are generating over $30,000 in revenue.

Sole Proprietorship

You make all the decisions
Utilizes personal tax credits
All the profits are yours
Simple tax structure and benefits
Income is taxed on personal tax rate (higher than corporate rate)
Losses can be applied to other sources of income to generate funds
Business lifespan is the same as the owner’s (continuity concern)
You are personally responsible for all the business’ financial and legal liabilities (unlimited liability)
You are responsible for protecting your business name
Low cost to set up and maintain

Book a consultation now to figure out which registration is best suited for you

Incorporation

The business is a separate legal entity from its owner
Can be owned by one or more people
Since corporations are separate legal entities, owners are not personally liable for the businesses financial and legal liabilities (limited liability)
Decisions are made by the corporation’s directors
The business has an unlimited life span
Lower corporate tax rate
Easier to raise money and/or grow your company
Potential to qualify for certain small business tax deductions and other tax benefits
Limited business name protection
Expensive to set up and maintain

Book a consultation now to figure out which registration is best suited for you

FAQ's

Do I have to register my business in Ontario?

If your business has employees, facilities, or offices in Ontario, you must register using the Ontario Business Registry.

Can I start a business without registering it Canada?

Basically, if you’re doing any business are required to register such business either as a Company or a Firm or an LLP (Limited Liability Partnership). Instead of going for company registration, you could register the business as a Sole proprietorship.

How much can a small business earn before paying tax Canada?

You have to file an income tax return if your net earnings from self-employment were $400 or more.

Do I have to pay GST if I make less than $30 000?

You are not required to register for GST/HST if your business revenue over four consecutive quarters is less than $30,000 CAD.

How much is a business license in Ontario?

It will cost $250* and will take 10 business days to register.

Can anyone register a business in Ontario?

You Need to Be a Canadian Citizen or a Landed Immigrant to Start a Business in Canada. You can’t start a business while you’re in Canada on a visitor or student visa or while you’re here on a work permit.

How much does it cost to register a company in Canada?

Incorporating federally costs between $200 and $250. Provincial incorporations vary by province , cost vary from province to province.