Business registration BC is a need for small businesses to start operating in British Columbia. There are 14 steps registrations for small businesses to reference:
- Make sure your choice in running a small business is right:
Time, commitment, a good idea, and a suitable personality with essential business skills are required to run a small business. Extra work:
- Evaluate your business concept
- Conduct market research and evaluate idea
- Know business structures:
Decide your business type. There are 3 types that small businesses usually choose:
- Sole proprietorship, the owner or self-employed
- General partnership, one or more partner
- Corporation (Limited liability company)
Clarify each type and its pros and cons when choosing a small business. There are also societies (not-for-profit organizations), franchises, and cooperatives.
- Develop a business plan
Drawing a roadmap for your business not only for investors to read but also a guideline to follow and grow by overseeing strengths, weaknesses, opportunities, and threats)
- Secure financing
Make your finances available for at least 3 months of operations to spend on daily operating and start-up costs. If you currently do not have enough, consider financing from outside.
- Choose a business name and have the name approved:
Find a name that is descriptive and distinctive and has a corporate designation with your name. Then, you have to register it with BC Registry Services.
- Register business:
If you choose sole proprietorship or general partnership, it would be easy to register online with the Province of British Columbia via OneStop Business Registration Service. An online VISA, Mastercard, or American Express payment is needed to complete the registry. Otherwise, using cash, debit card, or cheque is accepted at OneStop locations.
- Keep your online presence:
Always make sure your presence to customers through company listing, social media, and company website – a friendly reminder: buy a domain and the rights to use the name for the website. For social media, do it asap, as it is a helpful bridge connecting you with a wide range of customers.
- Register for Provincial Sales Tax (PST):
Register PST with the Ministry of Finance. PST is required when you purchased, acquired, or brought a taxable good/service into British Columbia
- Register for Goods and Services Tax (GST):
Required when you sell or provide goods/services in Canada and your business’s annual worldwide GST taxable sales are larger than $30,000 (incl. any associates).
- Complete Other Registrations:
Complete provincial, federal, or local government registration.
- Learn more about the business registrations and requirements to satisfy and be eligible to run your small business.
- Identify the requirements for permission and licenses that are needed for the business.
- Ask for support
- Read other resources to receive more opportunities, advice, and helpful tips.
Sparkcorpnet offers to SMEs and Start-up the service for business registration BC, contact us here for more information and have a consulting session with our experts
Cre: starting a small business guide (Small Business BC)