Did you know, to make only 30 percent of small businesses past the two-year mark? According to Forbes Magazine, one of the biggest reasons why small businesses fail because of poor business planning. To see a Business Advisor, is one of the best ways you can get the advice you need to successfully launch your business and grow. Every Wednesday, Small Business BC will be on the North Delta branch Vancity with a Business Advisor on site to assist you by giving them advice and resources to answer questions for small businesses and entrepreneurs.
We asked have one of our Business Advisors, Amy Elgie to answer some common questions that we hear at Small Business BC, and give a few tips on how to make them flourish your business
. Q: Is it necessary to register my business
? A: If you are yourself, you do not need as a business register. You can easily conduct business under your own name. But there are advantages to working as a sole proprietorship or partnership, like making tax concessions, banking and marketing
. Q: What is the difference between federal and provincial incorporation?
A: There are advantages and disadvantages to federal and provincial incorporation. For example protects federal annexation your company name more and gives you greater rights to do business. However, there are some drawbacks to federal Integration. There is more paperwork to fill out and there may be additional costs to the province depending where you work.
You can learn about inclusion federal and state more here.
Q: I must need a business license, and what type I need
A: Most areas in BC you need to have a business license. A business license gives you permission your business to work in a community. But you may need to obtain a license in other communities that you work in.
It is important that your local town hall and the town halls of communities to contact, in which you do business. They will let you know which permits you need. And make sure that you talk aware of any other federal, state and / or local regulations the competent authority and of BizPal visit
. Q: How do I find the rules I need for my business
A: There are a few steps to the rules to determine the use for your business. Getting out BizPal. This site will tell you, the licenses and permits required to do business in your community, and no additional licenses and permits you may need to operate. Next, check the Canada Business Network for general information about regulated activities and sectors, and then BC business resources for BC-specific information from
. Q: Can I start a business in BC, if I m not a Canadian citizen or permanent resident?
A: Yes, you can start a business, as long as you meet the legal and tax requirements. You have to fulfill a physical address for your business and for starting a business all usual conditions. You also need to file a tax return on any Canadian income you earn submit. You can do this by setting up an account with the Canada Revenue Agency, while your company is registered.
Always with Citizen and Immigration Canada (CIC) Check in Vancouver, to ensure that you must enter the correct authorization the country. Please note that a work permit and a Canadian citizen are not the same. To be a Canadian citizen, you must apply for citizenship to the CIC.
Want to know more?
Visit to see the Vancity North Delta Branch in 7211 0 th road Amy. To book an appointment, please call my email Amy at elgie.amy@smallbusinessbc.caor call 1-800-667-2272 and ask to see them in person.
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