Affiliate Article #2 | How To Register A Business In Ontario?
Moiz Khan
Meta Description: Do you want to register your business without any hassle? Let us guide you on how to do it using a few simple steps.
Dark Box Summary: To register your business online, choose your business type, sign up for Ownr, and finally register your business.
How to Register a Business in Ontario: Start a Business Without Doing Any Hardwork
Registering a business in any part of the world, let alone Ontario can be hectic. You must complete all the paperwork multiple times, meet the legal conditions, and manage all the finances. Doing this much work just to register your business not only diverts your concentration from working on your business but also takes away much of your precious time.
We understand your pain, and that’s why we’ve found an easy way for you to register your business using Ownr.
What Is Ownr?
Ownr is a platform that aims to make it easy for entrepreneurs and small business owners to register and set up their businesses in Canada. The platform offers various services, including business name registration, incorporation, and government filing, allowing users to register their companies and obtain all necessary licenses and permits in one place. Users can access their services online and on their mobile app.
How To Register Your Business In Ontario?
Following is a guide on registering your business in Ontario:
#1 Select Your Business Type.
Before registering your business, decide what type of business you have. Is it a sole proprietorship, partnership, corporation, or cooperative? The differences between all these four types are listed below:
Sole proprietorship:
A business owned by one individual, with no distinction between the owner and the business.
Partnership:
A type of business owned and run by two or more individuals, with all partners sharing in the management and profits of the company.
Cooperative:
A Cooperative business is owned and run by a group of individuals for their mutual benefit, with each member having an equal say in the management and decision-making of the company.
Corporation:
A type of business that is a separate legal entity from its owners, with ownership represented by shares of stock. A board of directors manages it, and shareholders elect them.
#2 Sign Up On Ownr
After knowing your business type, register yourself on Ownr. The process is described below:
Download the Ownr app or visit their website.
Tap on ‘Register Your Business.’
Select either ‘New Business’ or ‘Existing Business’ as per your profile.
Choose the province your business is located in.
Select your business type.
Enter your business name.
Enter your credentials and complete your sign-up.
#3 Register Your Business
Sole Proprietorship/Partnership registration:
Typically, you would have to pay a lot of money to register your business online in Ontario and extra for name searches; however, Ownr has made it easy. They only charge $49 for registering a sole proprietorship or partnership business with 30 name availability searches. Just give your information to Ownr; they will register your business instantly and send you a BIN( Business Identification Number).
You can use this number to do all sorts of business activities like taking out loans or opening a business account.
Corporation Registration:
Registering a corporation can be a headache! First, you must reserve your business name and submit around $300 to the government to register your business. Then you’ve to make multiple legal documents that require a lawyer, and with that comes an extra load on your pocket.
Ownr makes life easy here, too and covers everything just for $500, which is less than what it would cost to register your business.
FAQs
Do I need to register my business if it's small scale?
Registering your business puts it on the map as an entity with numerous benefits, so you should register your business on a small scale or a large scale.
Can non-residents register a business in Ontario?
Non-residents can register their businesses in Ontario easily; the only difference is that they are given Non-Resident Business Number.
What happens if my business name is unregistered?
If you have an unregistered business name, you can be fined up to $2000 if you are a sole proprietor and $25000 if you own a corporation.
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Posted Jun 10, 2023
Did a little research about the different types of business models and how to register each through Ownr. Had a lot of fun on this one.
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