Do you have a great business concept, but don't know which step to take next? Have you visited Haliburton County and decided that there is no better place to start a new business or move an existing business than here in Haliburton County?
There are lots of things you probably need/want to do to get a business started. Don't worry about doing everything all at once or having it all done before you complete your first sale. Come into HCDC anytime and talk to knowledgeable staff about budgeting, planning and getting started, we are here to help at any stage of your business development and growth.
This list might help you get your "to do" list started (based from an article by Susan Ward, Small Business: Canada Expert)
1. Start with a good idea
2. Write up a plan
3. Give your business a name
4. Register that name (see below)
5. Decide what kind of business structure you would like.
Options include: sole proprietorship (most common with start-ups), partnerships, corporation, cooperative
6. Find the money you need to get things going
Financing through a loan, investors or maybe generous family members or friends.
7. Take care of all the government "stuff"
Export/import regulations and registrations
8. Prepare to have employees
9. Get insurance
10. Get your books in order (accounting, taxes, inventory, etc.)
11. Off and running
Do I need to register my business?
If you are operating a sole proprietorship or partnership under a name that is not your exact legal name, it is a legal requirement in Ontario to register a business name. This is where registering a business begins. A Business Identification Number (BIN) is assigned upon the registration of a business name, as part of the Master Business License from the Ontario Ministry of Consumber and Business Services.
Designed to simplify interactions with the Canada Revenue Agency (CRA), a business number (BN) is a nine digit number assigned to a business when it is registered for any of the 4 CRA accounts :
To register you will need the Name and Social Insurance Number of at least one owner or director and the Major Business Activity.
Resources for starting a business