Starting Your Business in Newfoundland Checklist

Where do I start? tasks to be undertaken resources

1. Evaluate your idea

Is your idea feasible? Can you make money from this venture?

2. Market Research

Test the viability of your idea by researching the market, industry, and competition

3. Develop A Business Strategy

This is an essential step and critical for the planning and success of your business.

4. Financing

How will you finance your business? Banks and other lenders or investors will often require a written business plan.

5. Business Structure

Consider and select the most appropriate business structure to operate your business: Sole Proprietorship, Partnership or Corporation

6. Business Name

Submit your Business Name Request for approval.

7. Register Business

Register the business with your chosen structure using your name approval.

8. Bank Account

Open a business bank account.

9. Website

Consider reserving the domain name of your company to establish your website

10. Payroll, Trade, And Taxes

Open accounts under your Business Number (BN) as required (e.g. GST/PST, payroll, import/export). GST accounts are required if gross annual revenue is greater than $30,000. PST has no threshold for most businesses.

11. Business Licence

Contact your municipality for a business license.

12. Laws & Regulations

Determine whether any industry-specific licenses and/or regulations that may apply to your business.

13. Insurance

Ensure your business is protected.

14. Employment Standards Act

Ensure you’re aware of your requirements as an employer under the Employment Standards Act.

15. Payroll Deductions

Open a Payroll Deductions account under your existing Business Number ((BN) or obtain a BN if you don’t already have one.

16. Workers Compensation

Register for workers compensation coverage for your employees and yourself.

Requirements For Keeping Business Records

If you’re operating a business or have self-employment income, you need to set up an orderly record and accounting system. It’s recommended that you contact a qualified accountant or certified bookkeeper to assist you. You’re required to keep all your business records for six years.

About us

Ecompanies Canada is a Toronto based business development consulting firm delivering company setup, business registration and entity management services to entrepreneurs and small and medium-sized business across Canada.

You want to get your business registered so you can start growing it. Great news, we have been working with entrepreneurs like you for years! You don’t have time in your day to deal with complex documents and forms. You want to work with industry experts who have experience starting and maintaining businesses.

At Ecompanies Canada we help you step-by-step and take care of the entire business registration process from start to finish. Incorporating a business with us is fast, easy and takes just minutes.

Newfoundland Online Incorporation Service

Throughout Canada, corporations are the most widely used legal vehicle for operating a business. A corporation has the same rights and obligations under Canadian law as a natural person. Among other things, this means it can acquire assets, go into debt, enter into contracts, sue or be sued, and even be found guilty of committing a crime.

To incorporate a new company in Newfoundland., one or more persons(called “the incorporators”) may form a company by filing articles of incorporation, notice of address and notice of directors with the Newfoundland Corporate Registry Office.

We offer fast & easy Newfoundland incorporation and business registration services. At Ecompanies Canada we help you step-by-step and take care of the entire business registration process in Newfoundland from start to finish. Incorporating a new business in Newfoundland with us is fast, easy and takes just minutes.

Incorporate a new company in Newfoundland as a canadian resident

Newfoundland Extra Provincial Registration Service.

Newfoundland Extra provincial registration service. Extra-provincial registration is a process in Newfoundland that both Canadian corporations incorporated outside Newfoundland and foreign corporations have to go through when they seek to do business in Newfoundland.

Every Canadian corporation wishing to conduct business or operate in a province or provinces different than its jurisdiction of incorporation must register extra-provincially in each of the provinces or territories where it intends to carries on business.

An extra-provincial corporation carries on business in Newfoundland if

(a) its name, or any name under which it carries on business, is listed in a telephone

directory for any part of the province;

(b) its name, or any name under which it carries on business, appears or is announced in

any advertisement in which an address in the province is given for the extraprovincial corporation;

(c) it has a resident agent or representative or a warehouse, office or place of business in

the province;

(d) it solicits business in the province;

(e) it is licensed or registered or required to be licensed or registered under any Act of

the Legislature entitling it to do business; or

(f) it otherwise carries on business in the province.

Ecompanies Canada offer fast & easy Newfoundland Extra provincial Registration Service

to domestic and foreign corporations in Newfoundland.

At Ecompanies Canada we help you step-by-step and take care of the entire extra-provincial registration process from start to finish.

Register a new extraprovincial company in Newfoundland

Newfoundland business name registration for sole proprietorships.

If you are using a business name that differs from your full name, you need to register that business name. A sole proprietorship is an unincorporated business that is owned by one individual. It is the simplest kind of business structure. You may choose to register a business name or operate under your own name or both.

In Newfoundland, sole proprietorship business names are registered by filing a Declaration of Trade Name with the Newfoundland Registries office.

Ecompanies Canada offers fast & easy Newfoundland online sole proprietorship business name registration service. At Ecompanies Canada we help you step-by-step and take care of the entire business registration process from start to finish. Registering a new business name with us is fast, easy and takes just minutes.

Register today your Newfoundland business name. Fast, Easy, Online at https://www.ecompaniescanada.com/Newfoundland-sole-proprietorship-registration/

The post Starting Your Business in Newfoundland Checklist appeared first on Ecompanies Canada.

from Ecompanies Canada https://ift.tt/2FVm8Yy