Planning to have Canada immigration for your job purpose or settling down there? Canada has been among the top preferred places for foreign workers and students. People from across the globe settle in Canada and benefit from starting a business there. But it is always better to know beforehand what all procedures are to be followed if you wish to have business in Canada.
The steps below will help you gain insight and provide a boost to start working on your business dream!
Plan for your business idea
A business idea must be in your head, so developing it and writing a business plan is the first step. Determine what kind of business ownership you want, sole or partnership. Have an insight into the demographic data for the target market and location statistics.
Relatable Business name
Always have a name that reflects your products or services, or it might confuse your end customers. Have a name that is unique yet easy to remember and call.
Proper documentation and registration with the government
Canada’s rules and regulations might be different from your country, so before moving to Canada itself study the government norms accordingly. Also, get information about how to have a tax account and business number for your start-up.
Permit and licensing
Take into consideration any area permit or license required for your business. Please make sure you get them first before going on board.
Understanding Business tax obligations
Canada Revenue Agency does offer free help to self-employed and small business owners. A Liaison officer is made available to help you better understand the business taxes. The visit can be virtual or personal but will be 100% confidential. They would also help with your bookkeeping systems and recommend other financial concerns of the business.
