Registrating your buziness name

• register your buziness befo starting it
• it costs $60 to register yourbuziness and $80 if by e-mail
• you can do it online, by mail or do it in persone
• registration is valid for 5 years
• your name should be original and do not repeat the name after somebody else
• to change even one word in your buzness name requeres registration

TAXES

• if you have a buziness you have to pay an income tax to both federal and provintial governments
• 6% GST(goods and servises tax) is charged for almost everything in Ontario.
• If your buziness provides goods that can be sold with GST, you have to register for GST, in order to do that you can go online and by phone.
• once you have registered for GST you can charge your custmers this tax, and you can ask for tax refund for the goods you have bought with GTS.
• the frequency of the reports of GST depend on the amount of the money you make in a year.
• Retail Sales Tax(RST), also goes by PST. Charged in most cases in Ontario, if the good that is sold is more than $4.
• It is 8% in Ontario.
• If oyu cell RST chargeable good you have to submit the money made by this tax to Ministry of Finance, you must as well registrate within the ministry of finance to get linces and tax number.

Buziness records

• You have to keep orginized books of what have you done while workin on your buziness
• Yuo have to keep the books about your taxes for six years after the year they are refered to
• Ypu can hire someone to keep record for you or do it yourself

LICENCES

• a lot of buzinesses require licences to operate

ZONING

• all munitipalities have oning and regulation of buziness. Ypu have to chek first if you buziness would get confirmed.

Insurance

• there are a lot of insurances right now, that claim to protect you from almost every possible thing that can go wrong, however that would mean you would have to have a lot of money to buy every single of them, so you have tho think wise and figure out what insurance do you need.
• The good idea is to consult the insurance agent.

Renting or buying premises

• unless you have a home based buziness, you will have to buy or rent a space in whih you are going to run your buziness
• to do that you have to figure out a lot of things like: what kind of place you want to have, the location you wanna be your buziness in, avalability of parking, supplier acces, security, the amount of money you can spend on your rent.

Buziness communications

• buziness need some communication supplies like computer with acces to internet, phone, fax and others.
• you will also need a website and advertizment to make your buziness known.

Hiring Emploees

• you have to make sure your buziness makes enough money to provide regular payments to your emploees.
• you also have to keep record about your emploees.
• providing training for your emploees
• there are some so called acts that are the rules set by you. For example smokin in the work place, you can make a restriction on that.