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Steps to Starting a Business in Ontario in 2023

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A Cook, Software analyst & Blogger.

Steps to Starting a Business in Ontario: Many people want to be their own boss by starting a business and with technology today, there are literally hundreds of opportunities available everywhere.

In Ontario, all business owners must follow specific requirements to start their business to avoid fines and be successful.

From ensuring you’re legally eligible to own a business in Canada to obtaining the proper licenses and permits for your particular business, the experts at Prudent Law provide this step-by-step guide to starting a business in Ontario.

Steps to Starting a Business in Ontario

Here are the Steps to Starting a Business in Ontario:-

Step 1: Develop a Business Plan

While a business plan isn’t required to start a business in Ontario, it is strongly recommended. Not only does it bring your concept into focus, but it also provides a game plan for how you’re going to grow your company from its humble beginnings.

Most investors will require a business plan before they will give you any funding, so if you don’t intend to fund the business yourself, you’ll need a well-thought-out business plan.

Business plans should include the goals for your company, your business model, the corporate structure, marketing strategies, your target audience and ideal customer persona, an analysis of the market, and financial projections, among other components deemed helpful for you as the owner and for potential investors.

Step 2: Name Your Business and Determine the Structure

Naming your business can be quite fun, but it can also be frustrating if you can’t find an available name.

Make sure to conduct a business name search in Canada to ensure the name you want hasn’t been taken.

This is when you’ll also decide if your company is a sole proprietorship, a partnership, a professional corporation, or an incorporation. A business lawyer can help you determine which structure is best for your needs.

Step 3: Register Your Business

Once you decide on a name for your company, register it with the Ontario Business Registry so that it’s ready to go when your business is.

The cost of this service is $60 CAD and will generate a business number and business license for you to use when you interact with the Canada Revenue Agency (CRA).

A business registration must be renewed every five years. 

Step 4: Sign Up With the Canada Revenue Agency

Register for a business account with the CRA and identify any CRA programs your business is required to participate in.

If you’re unsure which programs are necessary for you, consult with a business lawyer or contact the CRA directly.

The CRA programs you join will assist you in various transactions related to payroll tax, goods and services tax (GST) and harmonized sales tax (HST)

Step 5: Obtain Business Licenses

You may not be done with obtaining the property business licenses just by registering with Ontario.

There may be additional municipal or provincial licenses that are required depending on where your business is located and what you are selling.

Be sure to do your research to find all the licenses that are required for your company. 


Becoming your own boss is one of the best feelings in the world. You have no one to answer to except yourself. But, you still have to follow the rules to start your business to get it off on the right foot and on the path to success.

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