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Register a new business in Ontario for under $200 – Quick and easy

Register a new business in Ontario for under $200 – Quick and easy

Let me show you how to start a profitable business in Ontario, Canada, for under $200 Canadian. So, how do I register a new business in Ontario? One

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Let me show you how to start a profitable business in Ontario, Canada, for under $200 Canadian. So, how do I register a new business in Ontario? One of the biggest excuses that I hear from other people about starting small businesses is I don’t know where to start…

So here is how you can legally start, run and profit from your small business. If you’re running a service – for example Instagram consulting, health coaching, nutrition, basically any talent that you think other people might not be as good at or other people might pay money for you to do, that is business.

And the better you are, the more you can charge and you can actually end up leaving your 9 to 5 job. Because you are the small business owner, you also end up keeping all the profits unlike at your job where your boss determines how much you can earn.

Register a new business in Ontario – quick and easy

So, here is how start a profitable business in Ontario for under $200 for all you people out there who think it’s hard to srat to start a business.

First thing that you need to do is to register your business name – you can register a small business in Ontario online. Now, to be very clear, your business name does not need to be a fancy name. So, if you have some really cool name that you’ve thought up, but you find that it is already taken by someone just go to the Ontario Business Registry and register your business name.

You can even register a business name through your personal name eg. John Smith, but brand it as something else like TeraEquip. The registered name is only for tax purposes. Now that the business is registered and you have a business license, you can now legally take payments from anywhere in Canada including from across the world. This should cost about $60.

The next thing you need is a domain name. This is where you want to make it your brand whatever your brand might be because that makes it look super legit. So, there’s two different things – there’s owning a website and there’s owning a domain name. The website is what hosts all your data and basically the domain is the address where the data is held.

I do know at namecheap.com, godaddy, wix.com and at other domain sellers, you can buy your domain name and then you go on to Wix.com or WordPress where you design your website. Find an affordable web developer if you are not sure of what to do – you can get developers on Fiverrcom for cheap – like $5 cheap, and some of them are really good. This will probably get you to around $130.

The next thing to do is get an Instagram or a social media platform that best suits your kind of business. Instagram is free and many people already know how to use Instagram. Instagram is a great place to promote your small business and offers tools for business with all kinds of great insights – especially if your ideal customer is online.

That is how I would spend $200 starting a small business. If you have your credit card in hand, you can do this in about 15 minutes or so. So in 15 minutes from now, you could be a business owner if you got off your ass and did something about it.

The next thing will be your business logo. These are extra add-on things and if you’re good with graphics and design software like Photoshop or Illustrator, you can design a logo yourself. But you can still go to a place like Fiverr and get good graphic designers for as low as $5.

You might also need to get your Goods and Services Tax (GST) and/or the Harmonized Sales Tax (HST) registration. If you’re gonna make over $30 000 in revenue for a particular year, you have to start charging GST/HST on the supply that made you exceed $30 000. Read more Here.

The next thing might be bar codes if you’re selling products. You don’t really need bar codes unless your products are in retail stores or you’re some inventory geek and you want to know exactly what products are selling and the codes on them. A gs1 Canada license is like $300 or $400 a year.

There are some things that you might need like quick payment systems. We will talk about Square – so that if you don’t take cash payments and you want to use a debit or credit card payment system, Square will literally send you a free Square reader. With a Square reader, you can literally take debit transactions from your phone!

This is how you can start start a business in Ontario for under $200. Whatever your great idea is, start with that. There’s going to be some more articles like how to market your business; how to finance your business; how to do the accounting for your business.

Remember, you do not need to be an accountant to do your corporate taxes. I do my corporate taxes every single year and only pay an accountant to verify it, but I end up saving a lot by doing the actual income statements myself.

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