25-Point Checklist for Starting a Business in Canada

25-Point Checklist for Starting a Business in Canada

Starting a business in Canada requires careful planning and legal compliance. Use this checklist to ensure you're on the right track.

1. Business Planning & Research

✅ Define Your Business Idea – What product or service will you offer?

✅ Conduct Market Research – Identify your target audience, competitors, and industry trends.

✅ Write a Business Plan – Outline your goals, finances, and strategies for success.

✅ Choose a Business Structure – Decide between sole proprietorship, partnership, or corporation.

✅ Select a Business Name – Ensure it’s unique and available for registration.

2. Legal & Registration Requirements

✅ Register Your Business Name – With the provincial or federal government.

✅ Obtain a Business Number (BN) – From the Canada Revenue Agency (CRA) for tax purposes.

✅ Register for GST/HST – If your revenue exceeds $30,000 per year.

✅ Check for Required Licenses & Permits – Based on your industry and location.

✅ Understand Zoning & Bylaws – Especially for home-based businesses.

3. Finances & Banking

✅ Open a Business Bank Account – Keep personal and business finances separate.

✅ Set Up Accounting & Bookkeeping – Use QuickBooks, Wave, or hire an accountant.

✅ Determine Your Startup Costs – List all initial expenses and funding sources

✅ Apply for Small Business Grants or Loans – Explore government funding options

✅ Understand Your Tax Obligations – Including payroll taxes, corporate taxes, and deductions.

4. Branding & Marketing

✅ Create a Logo & Brand Identity – Make your business visually appealing

✅ Build a Professional Website – Ensure it’s mobile-friendly and SEO-optimized.

✅ Claim Social Media Handles – Secure your brand name on Instagram, Facebook, LinkedIn, etc.

✅ Develop a Marketing Plan – Define your advertising, content, and outreach strategies.

✅ Register a Domain & Professional Email – Example: yourbusiness.ca and info@yourbusiness.ca.

5. Operations & Growth Strategy

✅ Find Suppliers & Vendors – Secure relationships with reliable partners.

✅ Hire Employees or Contractors – Understand payroll, labor laws, and contracts.

✅ Create Business Policies & Contracts – Protect your business with legal agreements.

✅ Set Up Business Insurance – Liability, property, and other coverage as needed.

✅ Develop a Customer Acquisition Strategy – How will you attract and retain clients?