How to Register Your Business (Canadian Business Starter Guide

How to Register Your Business (Canadian Business Starter Guide - Step 2 of 7)

Рет қаралды 2,378

Күн бұрын

In this video, Joe explains the different business structures, how to create your business entity and other necessary business registrations. This is Part 2 of the Seven Step Guide to Starting Your Business.
↘️ Seven Day Business Starter Course Discount Code
www.avalonaccounting.ca/seven...
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🎥 CONTENTS OF THIS VIDEO
00:00 - Intro
00:41 - 3 Business Structures
01:42 - Which Business Structure Should You Choose?
01:50 - Unincorporated and its Benefits
02:27 - Unincorporated and its Disadvantages
02:58 - Incorporated and its Benefits
03:31 - Incorporated and its Disadvantages
03:58 - How to Decide
05:23 - 7-Day Business Starter
06:22 - How to Register Your Business
06:32 - Through a Lawyer
06:45 - DIY Registration
07:07 - Using a Business Registration Service
07:51 - Other Registrations
11:03 - Action Steps
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🔗 MENTIONED IN THIS VIDEO
► Seven Day Business Starter Course Discount Code
www.avalonaccounting.ca/seven...
► YT Playlist of The 7 Step Guide to Starting Your Canadian Business
• The 7 Step Guide to St...
► Partner Link for Ownr
www.ownr.co/partners/avalon-a...
► The Canadian Corporate Names and Trademarks database
ised-isde.canada.ca/cipo/trad...
► Canada’s Business Registries database
beta.canadasbusinessregistrie...
► Business Registration Online platform
www.canada.ca/en/revenue-agen...
► BizPal
bizpal.ca/
► Blog Post on Sales Tax
www.avalonaccounting.ca/blog-...
► Blog Post on Payroll
www.avalonaccounting.ca/blog-...
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🅰️ AVALON ACCOUNTING
Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada.
We provide online bookkeeping, accounting services and expert financial advice for small businesses.
We are on a mission to educate small business owners through our KZfaq channel, blog and free resources. Check out our links below to dive in.
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📩 CONNECT
► Website: www.avalonaccounting.ca/
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🧑‍🏫 ONLINE COURSES
► Take your business to the next level with our online courses.
www.avalonaccounting.ca/courses
✅ ESSENTIAL FINANCIAL CONCEPTS FOR SMALL BUSINESSES (🆓FREE COURSE)
► Keys to building a business that provides owners with time, money and purpose.
www.avalonaccounting.ca/cours...
🖥️ LEARN MODERN BOOKKEEPING
► Learn to do your own bookkeeping with modern tools and our proven practices.
www.avalonaccounting.ca/cours...
📈 BOOKKEEPING AND TAX FOR FREELANCERS
► This course teaches sole proprietors how to simplify bookkeeping and taxes.
www.avalonaccounting.ca/cours...
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❓ FAQs
► What Can I Write-off? bit.ly/EXPENSESCAN
► Should I incorporate my business in Canada? bit.ly/INCORPCAN
► What is a shareholder loan? bit.ly/SHLOANCAN
► When and How Should I Hire an Employee? bit.ly/hirelikeapro
► Should I offer profit sharing? bit.ly/PROFITSHARECAN
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💼 20% OFF INCORPORATION WITH OWNR
If you are looking to incorporate (in Canada) and want to save some cash, check out Ownr with our affiliate link for 20% off incorporation costs:
► www.ownr.co/partners/avalon-a...
We may receive compensation when our link is used to sign up with OWNR
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🧑🏻‍🏫 FREE BUSINESS GUIDES:
► Starting Your Business Guide:
joecollins.typeform.com/to/bc...
► Business Owner’s Productivity Guide:
joecollins.typeform.com/to/zJ...
► Financial Foundations Guide:
joecollins.typeform.com/to/jF...
► $1 Million Dollar Service Based Business Guide: joecollins.typeform.com/to/e2...

Пікірлер: 7

@luisviacaba6460 7 ай бұрын

Thank you for your videos, they are very helpful. I'm setting up my payroll program for my first business, but I don't know if I should consider ourselves (two owners, listed as President and Vice-president) as employees? We would like to get paid a salary in the future, but we will start with dividends once we get profits.

@daveydfrombc 8 ай бұрын

Thanks Joe. Curious if it is common or ever advisable to begin as a sole proprietor, and then incorporate that business down the line when it makes financial sense?

@AvalonAccounting 8 ай бұрын

Yes, it can definitely be a worthwhile avenue. A great use case for this is if you are going to keep your day job and start the business on the side. If you have some losses in your business, you can apply those losses against other income in the year they are incurred. With a corporation, you would have to wait until you have profit to offset them against. Lots of other reasons to wait as well, but mainly you can incorporate any time and use a Section 85 rollover to bring assets and goodwill into the corporation on a tax-deferred basis.

@nathaliecarrier7164 8 ай бұрын

Hi Joe. I love your videos. Can the liability issues be solved with good commercial insurance instead of registering a corporation? Many of my clients want to incorporate because they are afraid of lawsuits.

@AvalonAccounting 8 ай бұрын

@@nathaliecarrier7164 I am not a lawyer or a insurance agent, but I think it's advisable to speak to each of them before incorporating. I think many business can reduce risk through insurance rather than incorporation for sure.

@zshn 4 ай бұрын

If I'm a sole proprietorship, do I have to register a business (if I'm just starting out) if I start a print-on-demand ecommerce website with a made up name which is not yet registered in the business registry and is not related to my personal name or intials?

@AvalonAccounting 2 ай бұрын

Hey! If you're looking for a bit of guidance as you're starting out a business I'd recommend checking out our new 7 Day Business Starter Course. We walk you through all the steps of starting a business, from planning and getting registered to sorting out your finances, promoting your brand with the right marketing strategy, and scoring that first sale. Here's a link to our free training if you're interested. This would be a great place to start to get answers to common questions people have when launching a business. www.avalonacademy.ca/watch-the-seven-day-business-starter-free-training